Common use of Trustee limitation of liability Clause in Contracts

Trustee limitation of liability. (a) This clause 19.4 applies to LTES Operator as trustee of the Trust to the extent that LTES Operator is acting in that capacity. (b) Subject to paragraphs (c), (d) and (e), LTES Operator’s liability to any person in connection with this agreement (or any transaction in connection with it) is limited to the extent to which the liability is or can be satisfied out of the Trust Property by LTES Operator exercising its right of indemnity out of the Trust Property. (c) Subject to clauses 19.4(c)(i) and 19.4(c)(ii), SFV may not seek to recover any amounts owing to it under this agreement by bringing proceedings against LTES Operator in its personal capacity. However, SFV may: (i) do anything necessary to enforce its rights in connection with the Trust Property; and (ii) take proceedings to obtain either or both: (A) an injunction or other order to restrain any breach of this agreement by LTES Operator; and (B) declaratory relief or other similar judgment or order as to the obligations of LTES Operator under this agreement. (d) The limitations and restrictions under paragraphs (b) and (c) do not apply to a liability to the extent that it is not satisfied because there is a reduction in the extent of LTES Operator’s indemnification out of the Trust Property either as a result of LTES Operator’s fraud, negligence or wilful default, or by operation of Law.

Trustee limitation of liability. (a) This clause 19.4 27.4 applies to LTES Operator as trustee of the Trust to the extent that LTES Operator is acting in that capacity. (b) Subject to paragraphs (c), (d) and (e), LTES Operator’s liability to any person in connection with this agreement (or any transaction in connection with it) is limited to the extent to which the liability is or can be satisfied out of the Trust Property by LTES Operator exercising its right of indemnity out of the Trust Property. (c) Subject to clauses 19.4(c)(i27.4(c)(i) and 19.4(c)(ii27.4(c)(ii), SFV may not seek to recover any amounts owing to it under this agreement by bringing proceedings against LTES Operator in its personal capacity. However, SFV may: (i) do anything necessary to enforce its rights in connection with the Trust Property; and (ii) take proceedings to obtain either or both: (A) an injunction or other order to restrain any breach of this agreement by LTES Operator; and (B) declaratory relief or other similar judgment or order as to the obligations of LTES Operator under this agreement. (d) The limitations and restrictions under paragraphs (b) and (c) do not apply to a liability to the extent that it is not satisfied because there is a reduction in the extent of LTES Operator’s indemnification out of the Trust Property either as a result of LTES Operator’s fraud, negligence or wilful default, or by operation of Law.

Trustee limitation of liability. ‌ (a) This clause 19.4 applies to LTES Operator as trustee of the Trust to the extent that LTES Operator is acting in that capacity. (b) Subject to paragraphs (c), (d) and (e), LTES Operator’s liability to any person in connection with this agreement (or any transaction in in‌ connection with it) is limited to the extent to which the liability is or can be satisfied out of the Trust Property by LTES Operator exercising its right of indemnity out of the Trust Property. (c) Subject to clauses 19.4(c)(i) and 19.4(c)(ii), SFV may not seek to recover any amounts owing to it under this agreement by bringing proceedings against LTES Operator in its personal capacity. However, SFV may:may:‌ (i) do anything necessary to enforce its rights in connection with the Trust Property; andand‌ (ii) take proceedings to obtain either or both:both:‌ (A) an injunction or other order to restrain any breach of this agreement by LTES Operator; and (B) declaratory relief or other similar judgment or order as to the obligations of LTES Operator under this agreement. (d) The limitations and restrictions under paragraphs (b) and (c) do not apply to a liability to the extent that it is not satisfied because there is a reduction in the extent of LTES Operator’s indemnification out of the Trust Property either as a result of LTES Operator’s fraud, negligence or wilful default, or by operation of Law.Law.‌

Trustee limitation of liability. (a) This clause 19.4 applies to LTES Operator as trustee of the Trust to the extent that LTES Operator is acting in that capacity. (b) Subject to paragraphs (c), (d) and (e), LTES Operator’s liability to any person in connection with this agreement (or any transaction in connection with it) is limited to the extent to which the liability is or can be satisfied out of the Trust Property by LTES Operator exercising its right of indemnity out of the Trust Property. (c) Subject to clauses 19.4(c)(i) and 19.4(c)(ii), SFV may not seek to recover any amounts owing to it under this agreement by bringing proceedings against LTES Operator in its personal capacity. However, SFV may: (i) do anything necessary to enforce its rights in connection with the Trust Property; and (ii) take proceedings to obtain either or both: (A) an injunction or other order to restrain any breach of this agreement by LTES Operator; and (B) declaratory relief or other similar judgment or order as to the obligations of LTES Operator under this agreement. (d) The limitations and restrictions under paragraphs (b) and (c) do not apply to a liability to the extent that it is not satisfied because there is a reduction in the extent of LTES Operator’s indemnification out of the Trust Property either as a result of LTES Operator’s fraud, negligence or wilful default, or by operation of Law. (e) The limitation of LTES Operator’s liability under paragraph (b) is to be disregarded for the purposes of determining whether LTES Operator has failed to comply with or perform any obligation under this agreement because of a failure by LTES Operator to pay an amount payable by it under this agreement.] [Note: to be included if LTES Operator is trustee of a trust.]

Trustee limitation of liability. ‌ (a) This clause 19.4 applies to LTES Operator as trustee of the Trust to the extent that LTES Operator is acting in that capacity. (b) Subject to paragraphs (c), (d) and (e), LTES Operator’s liability to any person in connection with this agreement (or any transaction in connection with it) is limited to the extent to which the liability is or can be satisfied out of the Trust Property by LTES Operator exercising its right of indemnity out of the Trust Property.Property.‌ (c) Subject to clauses 19.4(c)(i) and 19.4(c)(ii), SFV may not seek to recover any amounts owing to it under this agreement by bringing proceedings against LTES Operator in its personal capacity. However, SFV may:may:‌ (i) do anything necessary to enforce its rights in connection with the Trust Property; andand‌ (ii) take proceedings to obtain either or both:both:‌ (A) an injunction or other order to restrain any breach of this agreement by LTES Operator; and (B) declaratory relief or other similar judgment or order as to the obligations of LTES Operator under this agreement. (d) The limitations and restrictions under paragraphs (b) and (c) do not apply to a liability to the extent that it is not satisfied because there is a reduction in the extent of LTES Operator’s indemnification out of the Trust Property either as a result of LTES Operator’s fraud, negligence or wilful default, or by operation of Law.Law.‌

Trustee limitation of liability. (a) This clause 19.4 applies to LTES Operator as trustee of the Trust to the extent that LTES Operator is acting in that capacity. (b) Subject to paragraphs (c), (d) and (e), LTES Operator’s liability to any person in connection with this agreement (or any transaction in connection with it) is limited to the extent to which the liability is or can be satisfied out of the Trust Property by LTES Operator exercising its right of indemnity out of the Trust Property. (c) Subject to clauses 19.4(c)(i) and 19.4(c)(ii), SFV may not seek to recover any amounts owing to it under this agreement by bringing proceedings against LTES Operator in its personal capacity. However, SFV may: (i) do anything necessary to enforce its rights in connection with the Trust Property; and (ii) take proceedings to obtain either or both: (A) an injunction or other order to restrain any breach of this agreement by LTES Operator; and (B) declaratory relief or other similar judgment or order as to the obligations of LTES Operator under this agreement. (d) The limitations and restrictions under paragraphs (b) and (c) do not apply to a liability to the extent that it is not satisfied because there is a reduction in the extent of LTES Operator’s indemnification out of the Trust Property either as a result of LTES Operator’s fraud, negligence or wilful default, or by operation of Law.. DRAFT