Limitations of Liability of Shareholders Trustees and Others Sample Clauses

The "Limitations of Liability of Shareholders, Trustees and Others" clause serves to restrict the personal liability of individuals such as shareholders, trustees, directors, or officers for obligations or debts incurred by the company or trust. In practice, this means that if the entity faces legal claims or financial losses, these individuals are generally protected from being held personally responsible beyond their investment or role. For example, a shareholder would not be required to pay company debts out of their personal assets. This clause is essential for encouraging investment and participation by ensuring that personal risk is limited, thereby protecting individuals from financial exposure due to the entity's actions.
Limitations of Liability of Shareholders Trustees and Others. Section 4.1.
View SourceView Similar (14)
Limitations of Liability of Shareholders Trustees and Others. Section 4.1 No Personal Liability of Shareholders, Trustees, Etc 15 Section 4.2 Non-Liability of Trustees, Etc 15 Section 4.3 Mandatory Indemnification 16 Section 4.4 No Bond Required of Trustees 17 Section 4.5 No Duty of Investigation; Notice in Trust Instruments, Etc 18 Section 4.6 Reliance on Experts, Etc. 18 Section 5.1 Beneficial Interest 18 Section 5.2 Rights of Shareholders 19 Section 5.3 Trust Only; No Implied Duties 19 Section 5.4 Issuance of Shares 19 Section 5.5 Register of Shares 20 Section 5.6 Transfer of Shares 20 Section 5.7 Notices 20 Section 5.8 Treasury Shares 20 Section 5.9 Voting Powers 21 Section 5.10 Meetings of Shareholders 21 Section 5.11 Series or Class Designation 22 Section 5.12 Record Dates 22 Section 5.13 Quorum and Required Vote 23 Section 5.14 Action by Written Consent 23 Section 5.15 Inspection of Records 23 Section 5.16 Additional Provisions 23 Section 5.17 Bound by Declaration of Trust 23 Section 6.1 Net Asset Value 24 Section 6.2 Distributions to Shareholders 24 Section 6.3 Redemptions and Repurchases 24 Section 6.4 Power to Modify Foregoing Procedures 26 Section 7.1 Duration 27 Section 7.2 Reorganization; Termination; Master/Feeder Structure 27 Section 7.3 Amendment Procedure 28 Section 7.4 Conversion 29 Section 7.5 Incorporation 29 Section 8.1 Reports to Shareholders 30
View SourceView Similar (7)
Limitations of Liability of Shareholders Trustees and Others. Trustees, Shareholders, etc. Not Personally Liable; Notice...................................
View SourceView Similar (5)
Limitations of Liability of Shareholders Trustees and Others. Section 5.1 Trustees, Shareholders, etc. Not Personally Liable; Notice 9 Section 5.2 Trustee’s Good Faith Action; Expert Advice; No Bond or Surety 10 Section 5.3 Indemnification of Shareholders 10 Section 5.4 Indemnification of Trustees, Officers, etc. 11 Section 5.5 Compromise Payment 11 Section 5.6 Indemnification Not Exclusive, etc. 12 Section 5.7 Liability of Third Persons Dealing with Trustees 12
View Source
Limitations of Liability of Shareholders Trustees and Others. No Personal Liability of Shareholders, Trustees, Etc 14 Section 4.2 Non-Liability of Trustees, Etc 14
View Source
Limitations of Liability of Shareholders Trustees and Others 
View SourceView Similar (97)
Limitations of Liability of Shareholders Trustees and Others 
View SourceView Similar (97)

Related to Limitations of Liability of Shareholders Trustees and Others

  • Limitations of Liability of the Trustees and Shareholders A copy of the Trust's Agreement and Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed by the Trustees as Trustees and not individually and that the obligations of this instrument are not binding upon any of the Trustees, officers or shareholders individually but are binding only upon the assets and property of the appropriate Fund.

  • Limitations of Liability of Trustees and Shareholders of the Company The execution and delivery of this Agreement have been authorized by the Trustees of FAS and signed by an authorized officer of FAS, acting as such, and neither such authorization by such Trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, and the obligations of this Agreement are not binding upon any of the Trustees or Shareholders of FAS, but bind only the property of FAS, as provided in FAS’s Declaration of Trust.

  • LIMITATION OF LIABILITY OF THE TRUSTEES AND SHAREHOLDERS A copy of the Agreement and Declaration of Trust of the Trust is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of the Trust as Trustees and not individually and that the obligations of this instrument are not binding upon any of the Trustees or shareholders individually but are binding only upon the assets and property of the Fund.

  • Limitation of Liability of Trustees and Shareholders The Adviser acknowledges the following limitation of liability:

  • Limitation on Liability of the Depositor and Others Neither the Depositor nor any of its directors, officers, employees or agents shall be under any liability to the Certificateholders for any action taken or for refraining from the taking of any action in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect the Depositor or any such Person against any breach of representations or warranties made by it herein or protect the Depositor or any such Person from any liability which would otherwise be imposed by reasons of willful misfeasance, bad faith or gross negligence in the performance of duties or by reason of reckless disregard of obligations and duties hereunder. The Depositor and any director, officer, employee or agent of the Depositor may rely in good faith on any document of any kind prima facie properly executed and submitted by any Person respecting any matters arising hereunder. The Depositor and any director, officer, employee or agent of the Depositor shall be indemnified by the Trust Fund and held harmless against any loss, liability or expense incurred in connection with any audit, controversy or judicial proceeding relating to a governmental taxing authority or any legal action relating to this Agreement or the Certificates, other than any loss, liability or expense incurred by reason of willful misfeasance, bad faith or gross negligence in the performance of duties hereunder or by reason of reckless disregard of obligations and duties hereunder. The Depositor shall not be under any obligation to appear in, prosecute or defend any legal action that is not incidental to its respective duties hereunder and which in its opinion may involve it in any expense or liability; provided, however, that the Depositor may in its discretion undertake any such action (or direct the Trustee to undertake such actions for the benefit of the Certificateholders) that it may deem necessary or desirable in respect of this Agreement and the rights and duties of the parties hereto and interests of the Trustee and the Certificateholders hereunder. In such event, the legal expenses and costs of such action and any liability resulting therefrom shall be expenses, costs and liabilities of the Trust Fund, the Depositor shall be entitled to be reimbursed therefor out of the Distribution Account.