Massachusetts Trust Sample Clauses
A Massachusetts Trust clause defines the legal structure and status of an entity organized as a Massachusetts business trust. This clause typically clarifies that the trust is a separate legal entity, outlines the powers and limitations of its trustees, and specifies that beneficiaries or shareholders are not personally liable for the trust’s obligations. By establishing these parameters, the clause ensures that liability is limited to the trust’s assets and provides legal certainty regarding the rights and responsibilities of all parties involved.
Massachusetts Trust. All parties hereto are expressly put on notice of the Trust's Declaration of Trust and all amendments thereto, a copy of which is on file with the Secretary of the Commonwealth of Massachusetts, and the limitation of shareholder and trustee liability contained therein. This Agreement is executed on behalf of the Trust by the Trust's officers as officers and not individually and the obligations imposed upon the Trust or the Fund by this Agreement are not binding upon any of the Trust's Trustees, officers or shareholders individually but are binding only upon the assets and property of the Fund, and persons dealing with the Trust must look solely to the assets of the Fund for the enforcement of any claims.