Common use of PERSONAL LIABILITY OF HOLDERS Clause in Contracts

PERSONAL LIABILITY OF HOLDERS. As provided by applicable law, no Holder of the Trust shall be personally liable for the Liabilities incurred by, contracted for, or otherwise existing with respect to, the Trust or any Portfolio. Neither the Trust nor the Trustees, nor any officer, employee, or agent of the Trust shall have any power to bind personally any Holder or, except as provided herein or by applicable law, to call upon any Holder for the payment of any sum of money or assessment whatsoever other than such as the Holder may at any time personally agree to pay by way of subscription for an Interest or otherwise. The Holders shall be entitled, to the fullest extent permitted by applicable law, to the same limitation of personal liability as is extended under the Delaware General Corporation Law to stockholders of private corporations for profit. Every note, bond, contract, or other undertaking issued by or on behalf of the Trust or the Trustees relating to the Trust or to any Portfolio thereof shall include a recitation limiting the obligation represented thereby to the Trust and its assets or to one or more Portfolios thereof and the assets belonging thereto (but the omission of such a recitation shall not operate to bind any Holder or Trustee of the Trust).