Common use of Additional Limitations and Exclusions Clause in Contracts

Additional Limitations and Exclusions. (a) Notwithstanding any other provision of this Agreement, UMBFS shall have no duty or obligation under this Agreement to inquire into, and shall not be liable for: (i) The legality of the issue or sale of any Shares, the sufficiency of the amount to be received therefor, or the authority of the Trust, as the case may be, to request such sale or issuance; (ii) The legality of a transfer of Shares or of a purchase or redemption of any Shares, the propriety of the amount to be paid therefor, or the authority of the Trust, as the case may be, to request such transfer or redemption; (iii) The legality of the declaration of any dividend by the Trust, or the legality of the issue of any Shares in payment of any stock dividend; or (iv) The legality of any recapitalization or readjustment of Shares. (b) All parties hereto are expressly put on notice of the Trust’s Declaration of Trust and all amendments thereto, a copy of which is on file with the Secretary of the Commonwealth of Massachusetts, and the limitation of Shareholder and Trust liability contained therein. This Agreement is executed on behalf of the Trust by an officer of the Trust as an officer and not individually and the obligations imposed upon the Trust and the Funds by this Agreement are not binding upon any of the Trust’s Trustees, officers or Shareholders individually but are binding only upon the assets and property of the applicable Fund of the Trust, and persons dealing with the Trust must look solely to the assets and property of the subject Fund for the enforcement of any claims. The underssigned represents and warrants that he/she is duly authorized to execute this Agreement on behalf of the Fund.