Trustees and Shareholders Clause Samples
The 'Trustees and Shareholders' clause defines the roles, rights, and responsibilities of trustees and shareholders within a legal or corporate structure. It typically outlines how trustees are appointed, their powers in managing trust assets, and the extent of their authority in relation to shareholders, who may have voting rights or financial interests in the entity. This clause ensures clear governance by delineating the relationship between those who hold legal title to assets (trustees) and those who benefit from or invest in the entity (shareholders), thereby preventing conflicts and clarifying decision-making authority.
Trustees and Shareholders. The Manager and Sub-Adviser are hereby expressly put on notice of the limitation of shareholder liability as set forth in the Trust Instrument and agree that obligations assumed by the Trust pursuant to this Agreement shall be limited in all cases to the Trust and its assets, and if the liability relates to one series, the obligations hereunder shall be limited to the respective assets of that series. The Manager and Sub-Adviser further agree that they shall not seek satisfaction of any such obligation from the shareholders or any individual shareholder of the Fund, nor from the Trustees or any individual Trustee of the Trust.
Trustees and Shareholders. Manager is hereby expressly put on notice of the limitation of shareholder liability as set forth in the Trust Instrument and agrees that obligations assumed by a Trust pursuant to this Agreement shall be limited in all cases to a Trust and its assets, and if the liability relates to one or more Fund, the obligations hereunder shall be limited to the respective assets of that Fund. The Manager further agrees that it shall not seek satisfaction of any such obligation from the shareholders or any individual shareholder of the Fund, nor from the Trustees or any individual Trustee of a Trust. This Agreement is executed by each Trust’s Trustees and/or officers in their capacities as Trustees and/or officers and the obligations of this Agreement are not binding upon any of them or the shareholders individually; rather, they are binding only upon the assets and property of the Trust.
Trustees and Shareholders. Neither the holders of shares in the Portfolios nor any Trustees of the Fund will be personally liable under this Agreement.