Limitation of Trustee Liability. (“the Trustee”) is limited to the assets of the Trust (“the Trust”). However, if loss is incurred by the lender due to an intentional default or dishonesty in breach of trust by the Trustee, the Trustee will be personally liable to the lender to the extent that the assets of the Trust do not satisfy the loss.
Appears in 3 contracts
Sources: Finance Brokerage Agreement, Finance Brokerage Agreement, Dealer Finance Agreement