Common use of Limitation of Personal Liability Clause in Contracts

Limitation of Personal Liability. All the parties hereto acknowledge and agree that all liabilities of the Subsidiary arising, directly or indirectly, under this Agreement, of any and every nature whatsoever, shall be satisfied solely out of the assets of the Subsidiary and that no Director, Trustee, officer or holder of shares of beneficial interest of the Trust, Fund, or Subsidiary shall be personally liable for any of the foregoing liabilities. The Trust Instrument describes in detail the respective responsibilities and limitations on liability of the Trustees, officers and holders of shares of beneficial interest of the Trust.