Common use of Scope of Liability Clause in Contracts

Scope of Liability. It is understood and expressly agreed that the obligations and liabilities of the Trust hereunder will not be binding upon any of the trustees, shareholders, nominees, officers, agents or employees of the Trust, as provided in the Declaration of Trust. The execution and delivery of this Agreement have been authorized by the Board of Trustees and this Agreement has been signed by an authorized officer of the Trust, acting as such, and neither such authorization by the Board of Trustees nor such execution and delivery by such officer will be deemed to have been made by any of the Trustees individually or to impose any liability on any of them personally, but will bind only the assets and property of the Trust, as provided in its Declaration of Trust.

Appears in 4 contracts

Samples: Participation Agreement (Agl Separate Account D), Participation Agreement (Sierra Variable Trust), Participation Agreement (American General Life Insurance Co Separate Account D)

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Scope of Liability. (a) It is understood and expressly agreed that the obligations and liabilities of the Trust hereunder will not be binding upon any of the trustees, shareholders, nominees, officers, agents or employees of the Trust, as provided in the its Declaration of Trust. The execution and delivery of this Agreement have been authorized by the Board of Trustees and this Agreement has been signed by an authorized officer of the Trust, acting as such, and neither such authorization by the Board of Trustees nor such execution and delivery by such officer will be deemed to have been made by any of the Trustees individually or to impose any liability on any of them personally, but will bind only the assets and property of the Trust, as provided in its Declaration of Trust.

Appears in 2 contracts

Samples: Participation Agreement (Life Insurance Separate Account of Usaa Life Insurance Co), Participation Agreement (Separate Account of Usaa Life Insurance Co)

Scope of Liability. It is understood and expressly agreed that the obligations and liabilities of the Trust hereunder will not be binding upon any of the trustees, shareholders, nominees, officers, agents or employees of the Trust, as provided in the Declaration of Trust. The execution and delivery of this Agreement have been authorized by the Board of Trustees and this Agreement has been signed by an authorized officer of the Trust, acting as such, and neither such authorization by the Board of Trustees nor such execution and delivery by such officer will be deemed to have been made by any of the Trustees individually or to impose any liability on any of them personally, but will bind only the assets and property of the Trustrelevant Fund, as provided in its the Trust's Declaration of Trustand state laws.

Appears in 1 contract

Samples: Participation Agreement (Fs Variable Separate Account)

Scope of Liability. It is understood and expressly agreed that the obligations and liabilities of the Trust hereunder will not be binding upon any of the trustees, shareholders, nominees, officers, agents or employees of the Trust, as provided in the Declaration of Trust. The execution and delivery of this Agreement have been authorized by the Board of Trustees and this Agreement has been signed by an authorized officer of the Trust, acting as such, and neither such authorization by the Board of Trustees nor such execution and delivery by such officer will be deemed to have been made by any of the Trustees individually or to impose any liability on any of them personally, but will bind only the assets and property of the Trustthethe relevant Fund, as provided in its Declaration of Trust.

Appears in 1 contract

Samples: Participation Agreement (Variable Separate Account of Anchor National Life Insur Co)

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Scope of Liability. It is Is understood and expressly agreed that the obligations and liabilities of the Trust hereunder Hereunder will not be binding upon any of the trustees, shareholders, nominees, officers, agents or employees of the Trust, as provided in the Declaration of Trust. The execution and delivery of this Agreement have been authorized by the Board of Trustees and this Agreement has been signed by an authorized officer of the Trust, acting as such, and neither such authorization by the Board of Trustees nor such execution and delivery by such officer will be deemed to have been made by any of the Trustees individually or to impose any liability on any of them personally, but will bind only the assets and property of the Trustthethe relevant Fund, as provided in its Declaration of Trust.

Appears in 1 contract

Samples: Participation Agreement (Variable Separate Account of Anchor National Life Insur Co)

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