Limitation of Liability of Trustees and Shareholders of the Fund Clause Samples

The Limitation of Liability of Trustees and Shareholders of the Fund clause serves to protect the trustees and shareholders from personal liability for the obligations and debts of the fund. In practice, this means that if the fund incurs losses or faces legal claims, only the assets of the fund itself are at risk, not the personal assets of its trustees or shareholders. This clause is essential for encouraging participation and management by limiting individual financial exposure and ensuring that liability is contained within the fund structure.
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Limitation of Liability of Trustees and Shareholders of the Fund. The trustees of the Fund and the shareholders of any Series shall not be liable for any obligations of the Fund or any Series under this Contract, and ▇▇▇▇▇▇▇ Advisors agrees that, in asserting any rights or claims under this Contract, it shall look only to the assets and property of the Fund or the particular Series in settlement of such right or claims, and not to the trustees or shareholders.
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Limitation of Liability of Trustees and Shareholders of the Fund. The execution and delivery of this Agreement have been authorized by the Board of the Fund and signed by an authorized officer of such Fund, acting as such, and neither such authorization by the Board nor the execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, and the obligations of this Agreement are not binding upon any of the members of the Board of the Fund, but bind only the property of the Fund as provided in, as applicable, the Fund’s articles of incorporation or declaration of trust.
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Related to Limitation of Liability of Trustees and Shareholders of the Fund

  • Limitations of Liability of Trustees and Shareholders of the Company The execution and delivery of this Agreement have been authorized by the Trustees of FAS and signed by an authorized officer of FAS, acting as such, and neither such authorization by such Trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, and the obligations of this Agreement are not binding upon any of the Trustees or Shareholders of FAS, but bind only the property of FAS, as provided in FAS’s Declaration of Trust.