Common use of Trustee's Good Faith Action, Expert Advice Clause in Contracts

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers hereunder shall be binding upon everyone interested in or dealing with the Trust. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 111 contracts

Samples: Trust Agreement (Forward Funds), Amended and Restated Agreement and Declaration of Trust (Vanguard Chester Funds), Trust Agreement (Vanguard Cash Management Trust)

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Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 26 contracts

Samples: Trust Agreement (Prudential Mid Cap Value Fund), Trust Agreement (Prudential Tax Managed Equity Fund), Declaration of Trust (Franklin Managed Trust)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for her or his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 19 contracts

Samples: Trust Agreement (Phoenix Goodwin Multi Sector Short Term Bond Fund), Agreement and Declaration of Trust (Phoenix Asset Trust), Trust Agreement (Phoenix Multi Portfolio Fund)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 11 contracts

Samples: Agreement and Declaration of Trust (Alliancebernstein Corporatee Shares), Agreement and Declaration of Trust (Nvest Funds Trust Iii), Trust Agreement (AllianceBernstein Pooling Portfolios)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. Surety The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 6 contracts

Samples: Amended and Restated Agreement and Declaration of Trust (American Century Target Maturities Trust), Agreement and Declaration of Trust (American Century Municipal Trust), Amended and Restated Agreement and Declaration of Trust (American Century International Bond Funds)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 5 contracts

Samples: Agreement and Declaration of Trust (Gmo Trust), Agreement and Declaration of Trust (Gmo Trust), Agreement and Declaration of Trust (Gmo Trust)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers hereunder shall be binding upon everyone interested in or dealing with the Trust. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 4 contracts

Samples: Agreement and Declaration of Trust (Brazos Mutual Funds), Agreement and Declaration of Trust (Brinson Funds Inc), Agreement and Declaration of Trust (Risa Investment Trust)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 4 contracts

Samples: Agreement and Declaration of Trust (Franklin Strategic Mortgage Portfolio), Trust Agreement (Franklin International Trust), Agreement and Declaration of Trust (Money Market Portfolios)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. ------------------------------------------------------------- The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 2 contracts

Samples: Trust Agreement (Merrill Lynch Inflation Protected Bond Fund), Trust Agreement (Managed Account Series)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers hereunder shall be binding upon everyone interested in or dealing with the TrustFund. A Trustee shall be liable to the Trust Fund and to any Shareholder Holder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of TrustAgreement, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 2 contracts

Samples: Trust Agreement (Wilmington Low Volatility Fund of Funds), Agreement and Declaration of Trust (Wilmington Low Volatility Fund of Funds)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The 'Me Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 2 contracts

Samples: Agreement and Declaration of Trust (Liberty Variable Investment Trust), Declaration of Trust (Liberty Variable Investment Trust)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 2 contracts

Samples: Agreement and Declaration of Trust (Franklin Government Securities Trust), Agreement and Declaration of Trust (Professionally Managed Portfolios)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. Surety The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trust. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Sit Mutual Funds Trust)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers hereunder shall be binding upon everyone interested in or dealing with the Trust. A Trustee shall be liable to the Trust and to any Shareholder Holder solely for his or her own willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Kiewit Investment Trust)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. ---------- ------------------------------------------------------------- The exercise by the Trustees of their powers hereunder shall be binding upon everyone interested in or dealing with the Trust. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Brazos Mutual Funds)

Trustee's Good Faith Action, Expert Advice. No Bond or --------- ------------------------------------------------------ Surety. The exercise by the Trustees of their powers and discretion hereunder ------ shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Trust Agreement (Hirtle Callaghan Trust)

Trustee's Good Faith Action, Expert Advice. No Bond or SuretySurety Section 2. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for the errors of judgment judgement or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Pimco Advisors Funds)

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Trustee's Good Faith Action, Expert Advice. No Bond or --------- ----------------------------------------------------------- Surety. The exercise by the Trustees of their powers and discretions hereunder ------ shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Declaration of Trust (Brandes International Fund)

Trustee's Good Faith Action, Expert Advice. No Bond or ---------- ------------------------------------------------------ Surety. The exercise by the Trustees of their powers and discretions hereunder ------ shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (New England Zenith Fund)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. --------------------------------------------------------------------------- The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, Trust and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Nvest Companies Trust I)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. Surety The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (American Century California Tax Free & Municipal Funds)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. --------- ------------------------------------------------------------- The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Trust Agreement (New England Zenith Fund)

Trustee's Good Faith Action, Expert Advice. No Bond or ------------------------------------------------------ Surety. The exercise by the Trustees of their powers hereunder shall be binding ------ upon everyone interested in or dealing with the Trust. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Trust Agreement (Smithgraham Institutional Funds)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Amivest NFB Funds Trust)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for the his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Trust Agreement (Td Waterhouse Dow 30 Fund)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. --------------------------------------------------------------------------- The exercise by the Trustees of their powers hereunder shall be binding upon everyone interested in or dealing with the Trust. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (Vanguard Fixed Income Securities Fund Inc)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. ---------- ------------------------------------------------------------- The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Trust Agreement (E Navigator Fund)

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested in or dealing with the Trustinterested. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing falling to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Appears in 1 contract

Samples: Trust Agreement (Morgan Grenfell Investment Trust)

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