Common use of Independent Trustees Clause in Contracts

Independent Trustees. The liability of any Independent Trustee under this Agreement is limited to the trust property available to meet that liability. However, this limitation does not apply if the relevant Independent Trustee loses its right to be indemnified out of the trust property, or diminishes the value of the trust property through its fraud or wilful breach of trust (in which case we can claim against that Independent Trustee personally to the extent we are unable to recover amounts due to us from the trust property).

Independent Trustees. The liability of any Independent Trustee under this Agreement is limited to the trust property available to meet that liability. However, this limitation does not apply if the relevant Independent Trustee loses its right to be indemnified out of the trust property, property or diminishes the value of the trust property through its fraud or wilful breach of trust (in which case we can claim against that Independent Trustee personally to the extent we are unable to recover amounts due to us from the trust property).

Independent Trustees. The If you are the trustees of a trust, the liability of any Independent Trustee under this Agreement your Loan Contract is limited to the trust property available to meet that liability. However, this limitation does not apply if the relevant Independent Trustee loses its right to be indemnified out of the trust property, or diminishes the value of the trust property through its fraud or wilful breach of trust (in which case we can claim against that the Independent Trustee personally to the extent we are unable to recover amounts due to us from the trust property).

Independent Trustees. The If you are the trustees of a trust, the liability of any Independent Trustee under this Agreement your Loan Contract is limited to the trust property available to meet that liability. However, this limitation does not apply if the relevant Independent Trustee loses its right to be indemnified out of the trust property, or diminishes the value of the trust property through its fraud or wilful breach of trust (in which case we can claim against that the Independent Trustee personally to the extent we are unable to recover amounts due to us from the trust property).property).‌

Independent Trustees. The if you are the trustees of a trust, the liability of any Independent Trustee under this Agreement your Loan Contract is limited to the trust property available to meet that liability. However, this limitation does not apply if the relevant Independent Trustee loses its right to be indemnified out of the trust property, property or diminishes the value of the trust property through its fraud or wilful breach of trust (in which case we can claim against that the Independent Trustee personally to the extent we are unable to recover amounts due to us from the trust property).