Common use of Business Trust Clause in Contracts

Business Trust. With respect to a Client which is a business trust, the Lending Agent acknowledges and agrees that this Agreement is executed by such Client on behalf of the trustees of such Client as trustees and not individually; and no trustee, shareholder, officer, employee or agent of such business trust shall be held to any personal liability, nor shall resort be had to their property (other than the applicable trust property) for the satisfaction of the Client’s obligations under this Agreement, and such obligations are binding only upon the applicable trust property held by such trustee.

Appears in 29 contracts

Samples: Securities Lending Agency Agreement (BlackRock Utilities, Infrastructure & Power Opportunities Trust), Securities Lending Agency Agreement (BlackRock Credit Strategies Fund), Securities Lending Agency Agreement (BlackRock Hedge Fund Guided Portfolio Solution)

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Business Trust. With respect to a Client which is a business trust, the Lending Agent acknowledges and agrees that this Agreement is executed by such Client on behalf of the trustees of such Client as trustees and not individually; and no trustee, shareholder, officer, employee or agent of such business trust shall be held to any personal liability, nor shall resort be had to their property (other than the applicable trust property) for the satisfaction of the Client’s obligations under this Agreement, and such obligations are binding only upon the applicable trust assets and property held by of such trusteeClient.

Appears in 21 contracts

Samples: VRDP Shares Purchase Agreement (Blackrock Municipal Income Investment Trust), Tender and Paying Agent Agreement (Blackrock Muniyield Michigan Quality Fund, Inc.), VRDP Shares Purchase Agreement (Blackrock Municipal Income Investment Trust)

Business Trust. With respect to a Client which is a business trust, the Lending Agent acknowledges and agrees that this Agreement is executed by such Client on behalf of the trustees of such Client as trustees and not individually; : and no trustee, shareholder, officer, employee or agent of such business trust shall be held to any personal liability, nor shall resort be had to their property (other than the applicable trust property) for the satisfaction of the Client’s obligations under this Agreement, and such obligations are binding only upon the applicable trust assets and property held by of such trusteeClient.

Appears in 3 contracts

Samples: Securities Lending Agency Agreement (BlackRock Fixed Income Value Opportunities II), Securities Lending Agency Agreement (BlackRock 2022 Global Income Opportunity Trust), Securities Lending Agency Agreement (BlackRock Multi-Sector Opportunities Trust II)

Business Trust. With respect to a Client which is a business trust, the Lending Agent acknowledges and agrees that this Agreement is executed by such Client on behalf of the trustees of such Client as trustees and not individually; and no trustee, shareholder, officer, employee or agent of such business trust shall be held to any personal liability, nor shall resort be had to their property (other than the applicable trust property) for the satisfaction of the Client’s 's obligations under this Agreement, and such obligations are binding only upon the applicable trust assets and property held by of such trusteeClient.

Appears in 2 contracts

Samples: Securities Lending Agency Agreement (BlackRock Variable Series Funds, Inc.), Securities Lending Agency Agreement (Merrill Lynch Ready Assets Trust)

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Business Trust. With respect to a Client which is a business trust, the Lending Agent acknowledges and agrees that this Agreement is executed by such Client on behalf of the trustees of such Client as trustees and not individually; and no trustee, shareholder, officer, employee or agent of such business trust shall be held to any personal liability, nor shall resort be had to their property (other than the applicable trust property) for the satisfaction of the Client’s 's obligations under this Agreement, and such obligations are binding only upon the applicable trust property held by such trustee.

Appears in 1 contract

Samples: Securities Lending Agency Agreement (BlackRock Credit Strategies Fund)

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