Common use of Limitations on Duties Clause in Contracts

Limitations on Duties. The duties of the Bank will be strictly limited to those set forth in this Agreement, and no implied covenants, duties, responsibilities, representations, warranties, or obligations will be read into this Agreement against the Bank. Without limiting the generality of the foregoing, the Bank has no duty to: 10.1.1 Request or obtain a ruling or other guidance from the IRS or any other governmental authority as to (or otherwise determine, monitor, or question) the tax character or consequences of the form and operation of the Account. 10.1.2 Act as investment manager of, or take notice of the management of, any assets other than Assets that are subject to the Bank’s discretion to manage (if any).

Limitations on Duties. The duties of the Bank will be strictly limited to those set forth in this Agreement, and no implied covenants, duties, responsibilities, representations, warranties, or obligations will be read into this Agreement against the Bank. Without limiting the generality of the foregoing, the Bank has no duty to: 10.1.1 10.1.1. Request or obtain a ruling or other guidance from the IRS or any other governmental authority as to (or otherwise determine, monitor, or question) the tax character or consequences of the form and operation of the Account. 10.1.2 10.1.2. Act as investment manager of, or take notice of the management of, any assets other than Assets that are subject to the Bank’s discretion to manage (if any).