Common use of Trustee Status Clause in Contracts

Trustee Status. It is expressly understood and agreed that (a) any Operative Document entered into or to be entered into by the Trust is executed and delivered by a Trustee, not individually or personally but solely as a Trustee of the Trust, in the exercise of the powers and authority conferred and vested in it under this Agreement, (b) each of the representations, undertakings and agreements made in any Operative Document on the part of the Trust is made and intended not as personal representations, undertakings, and agreements by the Trustee but is made and intended for the purpose of binding only the Trust, and (c) under no circumstances shall any Trustee be personally liable for the payment of any indebtedness or other obligations of the Trust or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under any such Operative Document.