Common use of Trust Liability Clause in Contracts

Trust Liability. The names "Pegasus Funds" and "Trustees of Pegasus Funds" refer, respectively, to the trust created and the trustees, as trustees but not individually or personally, acting from time to time under a Declaration of Trust dated April 21, 1987, as amended, which is hereby referred to and a copy of which is on file at the office of the State Secretary of the Commonwealth of Massachusetts and at the principal office of the Trust. The obligations of the Trust entered into in the name or on behalf thereof by any of the trustees, representatives or agents are made not individually, but in such capacities, and are not binding upon any of the trustees, shareholders or representatives of the Trust personally, but bind only the trust property, and all persons dealing with any portfolio of the Trust must look solely to the trust property belonging to such portfolio for the enforcement of any claims against the Trust.