Common use of Liability under Contracts Clause in Contracts

Liability under Contracts. ‌ Any written instrument creating an obligation of a Fund shall be conclusively taken to have been executed or done by the Manager on behalf of the relevant Fund in its capacity as Manager under this Trust Agreement. The Manager shall use its commercially reasonable efforts to ensure that any written instrument creating a material obligation of the Funds refers to the Trust Agreement and contains a term or other provision to the effect that the obligations created thereunder are not personally binding upon, nor shall resort be had to, nor recourse or satisfaction sought from, the private property of any of the Unitholders. The omission of such recital, term or other provision shall not impose or have the effect of imposing personal liability on the Manager or its directors, officers, employees or agents or on any of the Unitholders or agents of a Fund, whether in contract, tort or otherwise. DESCRIPTION OF UNITS‌