Common use of Nonrecourse Obligations Clause in Contracts

Nonrecourse Obligations. A copy of the Master Trust Agreement, as ----------------------- amended from time to time, of the Customer is on file with Secretary of State of Massachusetts, and notice is hereby given that this Agreement is not executed on behalf of the Trustees of the Customer as individuals, and the obligations of this Agreement are not binding upon any of the Trustees, officers, or shareholders of the Customer individually, but are binding only upon the assets and property of the Customer. The Bank agrees that no shareholder, Trustee or officer of the Customer may be held personally liable or responsible for any obligations of the Customer arising hereunder.