Common use of Liability of Trustees Clause in Contracts

Liability of Trustees. The Trustees shall not be liable in their personal capacity for any loss arising out of any act, omission or error in judgment made in good faith in the execution of their powers and duties under this Indenture, nor shall they be personally liable for any debt or liability incurred by or on behalf of the Trust or for any other liability, obligation or debt arising out of the administration or existence of the Trust; provided however that the Trustees are not exempted from personal liability for any loss arising out of an act, omission or error in judgment of the Trustees through negligence or through wilful misconduct or by acting in bad faith.

Liability of Trustees. 9.1 The Trustees shall not be liable in their personal capacity for any loss arising out of any act, omission or error in judgment made in good faith judgement in the execution of their powers and duties under this IndentureTrust Agreement, nor shall they be personally liable for any debt or liability incurred by or on behalf of the Trust or for any other liability, obligation or debt arising out of the administration or existence of the Trust; provided however that the Trustees are not exempted from personal liability for any loss debt, liability or obligation arising out of an act, omission or error in judgment judgement of the Trustees through negligence or through wilful misconduct or by acting in bad faithfaith or through gross negligence or wilful misconduct.