Common use of Trustee Status Clause in Contracts

Trustee Status. Grantee has executed this Agreement solely in the capacity as trustee for the trust described herein ("Trust") and not individually. Therefore, notwithstanding anything to the contrary contained in this Agreement, the parties agree that: (i) all covenants, agreements, undertakings and other obligations of Grantee, or pursuant to any documents, instruments or agreements provided pursuant hereto, or which involve the Golf Course Property or any portion thereof, are not intended to impose, and shall not be construed as imposing, any personal or other liability upon Trustee and are solely those of (and shall be performed by) the Trust; (ii) this Agreement has been executed by Grantee as a trustee for the Trust, pursuant to the authority conferred upon him by the agreements governing the Trust and without imposing upon him any liability or obligations; and (iii) no party shall have any claim, demand, action or cause of action whatsoever against Grantee (or against any assets or properties other than those of the Trust) arising out of or relating to this agreement or the transaction contemplated hereby and shall look solely to the Trust for matters involving same.

Trustee Status. Grantee ▇▇▇▇▇▇▇ has executed this Agreement solely in the capacity as trustee for the trust described herein ("Trust") and not individually. Therefore, notwithstanding anything to the contrary contained in this Agreement, the parties agree that: (i) all covenants, agreements, undertakings and other obligations of Grantee, or pursuant to any documents, instruments or agreements provided pursuant hereto, or which involve the Golf Course Property or any portion thereof, are not intended to impose, and shall not be construed as imposing, any personal or other liability upon Trustee and are solely those of (and shall be performed by) the Trust; (ii) this Agreement has been executed by Grantee ▇▇▇▇▇▇▇ as a trustee for the Trust, pursuant to the authority conferred upon him by the agreements governing the Trust and without imposing upon him any liability or obligations; and (iii) no party shall have any claim, demand, action or cause of action whatsoever against Grantee (or against any assets or properties other than those of the Trust) arising out of or relating to this agreement or the transaction contemplated hereby and shall look solely to the Trust for matters involving same.