No Bond Required Clause Samples
The "No Bond Required" clause stipulates that a party is not obligated to post a bond or other form of security in connection with the enforcement of their rights under the agreement. In practice, this means that if a party seeks a court order such as an injunction, they do not need to provide a financial guarantee to cover potential damages if the order is later found to be unwarranted. This clause streamlines legal proceedings and reduces financial barriers, ensuring that parties can more readily enforce their contractual rights without the added burden of securing a bond.
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No Bond Required. No Trustee shall be obliged to give any bond or other security for the performance of any of his or her duties hereunder.
No Bond Required. Notwithstanding any state law to the contrary, each Trustee (including any successor Trustee) shall be exempt from giving any bond or other security in any jurisdiction.
No Bond Required. The Trustee shall not be required to furnish any bond or security of any kind.
No Bond Required. Notwithstanding any state law to the contrary, the Liquidating Trustee (including any successor Liquidating Trustee) shall be exempt from giving any bond or other security in any jurisdiction.
No Bond Required. Neither the Trustee nor the Delaware Trustee shall be required to furnish any bond or security of any kind.
No Bond Required. No bond shall be required of any Trustee serving hereunder, but the Trustees may elect to carry fidelity insurance on behalf of and at the expense of the Trust covering the actions of the Trustees and their employees and agents.
No Bond Required. No Trustee or officer shall be obligated to give any bond or other security for the performance of any of his or her duties hereunder.
No Bond Required. No bond shall be required of the original Trustees or any successor Trustee named above, or if a bond is required by law, no surety on such bond shall be required.
No Bond Required. The Trustee and any Successor Trustee shall not be required to give a bond. Each Trustee is only liable for that Trustee’s own actions and then only as a result of that Trustee’s own gross negligence or bad faith.
No Bond Required. The Trustee (including any successor Trustee appointed pursuant to Section 5.8) shall not be required to give any bond, surety or other security in any jurisdiction for the performance of any of its duties.