Limitation of Liability of Trust. The Company and SFIM each acknowledge that it has received notice of and accepts the limitations on the Trust's liability as set forth in the Trust's Declaration of Trust, as amended from time to time. In accordance therewith, the Company and SFIM agree that the Trust's obligations hereunder shall be limited to the assets of the Funds, and with respect to each Fund shall be limited to the assets of such Fund, and no party shall seek satisfaction of any such obligation from any shareholder of the Trust, nor from any trustee, officer, employee or agent of the Trust.
Appears in 4 contracts
Sources: Participation Agreement (State Farm Variable Product Trust), Participation Agreement (State Farm Variable Product Trust), Participation Agreement (State Farm Life & Accident Ass Co Var Ann Sep Acct)
Limitation of Liability of Trust. The Company and SFIM each -------------------------------- acknowledge that it has received notice of and accepts the limitations on the Trust's liability as set forth in the Trust's Declaration of Trust, as amended from time to time. In accordance therewith, the Company and SFIM agree that the Trust's obligations hereunder shall be limited to the assets of the Funds, and with respect to each Fund shall be limited to the assets of such Fund, and no party shall seek satisfaction of any such obligation from any shareholder of the Trust, nor from any trustee, officer, employee or agent of the Trust.
Appears in 2 contracts
Sources: Participation Agreement (State Farm Variable Product Trust), Participation Agreement (State Farm Life Insurance Co Variable Annuity Separate Act)