Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers hereunder shall be binding upon everyone interested in or dealing with the Trust. A Trustee shall be liable to the Trust and to any Shareholder solely for his or her own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee, and shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust, and shall be under no liability for any act or omission in accordance with such advice nor for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.
Trustee's Good Faith Action, Expert Advice. No Bond or Surety
Trustee's Good Faith Action, Expert Advice. No Bond or Surety -------------------------------------------------------------
Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretion hereunder in good faith and with reasonable care under the circumstances then prevailing shall be binding upon everyone interested. Subject to the provisions of Article VIII and to Section 9.1, the Trustees shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Agreement, and subject to the provisions of Article VIII and Section 9.1, shall be under no liability for any act or omission in accordance with such advice or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is obtained. The appointment, designation or identification of a Trustee as chair of the Trustees, a member or chair of a committee of the Trustees, an expert on any topic or in any area (including an audit committee financial expert), or the lead Independent Trustee, or any other special appointment, designation or identification of a Trustee, shall not impose on that person any standard of care or liability that is greater than that imposed on that person as a Trustee in the absence of the appointment, designation or identification, and no Trustee who has special skills or expertise, or is appointed, designated or identified as aforesaid, shall be held to a higher standard of care by virtue thereof. In addition, no appointment, designation or identification of a Trustee as aforesaid shall affect in any way that Trustee's rights or entitlement to indemnification or advancement of expenses.
Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers and discretion hereunder in good faith and with reasonable care under the circumstances then prevailing shall be binding upon everyone interested. Subject to the provisions of Article VIII hereof and to Section 9.1 of this Article IX, the Trustees shall not be liable for errors of judgment or mistakes of fact or law. The Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Agreement, and subject to the provisions of Article VIII hereof and Section 9.1 of this Article IX, shall be under no liability for any act or omission in accordance with such advice or for failing to follow such advice. The Trustees shall not be required to give any bond as such, nor any surety if a bond is obtained.
Trustee's Good Faith Action, Expert Advice. No Bond or Surety Section 6.3.
Trustee's Good Faith Action, Expert Advice. NO BOND OR SURETY -------------------------------------------------------------
Trustee's Good Faith Action, Expert Advice. No Bond or Surety 19 Section 9.5. Liability of Third Persons Dealing with Trustees 19 Section 9.6. Insurance 20 ARTICLE X Termination and Merger 20 Section 10.1. Termination of Trust or Series or Class 20 Section 10.2. Sale of Assets; Merger and Consolidation 21 ARTICLE XI Miscellaneous 21 Section 11.1. Amendments 21 Section 11.2. Filing of Copies 22 Section 11.3. References and Headings 22 Section 11.4. Applicable Law 22 Section 11.5. Provisions in Conflict with Law or Regulations 23 Section 11.6. Statutory Trust Only 23 Section 11.7. Counterparts 23
Trustee's Good Faith Action, Expert Advice. No Bond or Surety Section 6.3. Indemnification of Shareholders Section 6.4. Indemnification of Trustees, Officers, etc Section 6.5. Advances of Expenses Section 6.6. Indemnification Not Exclusive, etc 18 Section 6.7. Liability of Third Persons Dealing with Trustees 18 ARTICLE VII MISCELLANEOUS 18 Section 7.1. Duration and Termination of Trust 18 Section 7.2. Reorganization 18 Section 7.3. Amendments Section 7.4. Filing of Copies; References; Headings Section 7.5. Applicable Law GRAND PRIX INVESTORS TRUST AGREEMENT AND DECLARATION OF TRUST AGREEMENT AND DECLARATION OF TRUST made this 12th day of June, 2008, by the Trustees hereunder, and by the holders of Shares of beneficial interest to be issued hereunder as hereinafter provided.
Trustee's Good Faith Action, Expert Advice. No Bond or Surety 15 Section 6.3 Apparent Authority of the Trustees 16