No Management or Control; Limited Liability; Exercise of Rights through a Participant Sample Clauses

This clause establishes that parties do not have management or control rights over the entity or assets in question, and their liability is limited to their investment or participation. In practice, this means that participants cannot direct day-to-day operations or make binding decisions for the entity, and any rights they do have must be exercised through a designated participant or intermediary. The core function of this clause is to protect parties from unintended liabilities and clarify that their involvement does not equate to managerial authority, thereby reducing legal and financial risk.
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No Management or Control; Limited Liability; Exercise of Rights through a Participant. The Beneficial Owners shall not participate in the management or control of the Trust nor shall they enter into any transaction on behalf of the Trust or have the power to sign for or bind the Trust, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.03 hereof, no Beneficial Owner shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust in excess of its Percentage Interest of the Trust Property. Except as provided in Section 9.03 hereof, each Share owned by a Beneficial Owner shall be fully paid and no assessment shall be made against any Beneficial Owner. No salary shall be paid to any Beneficial Owner in its capacity as a Beneficial Owner, nor shall any Beneficial Owner have a drawing account or earn interest on its Percentage Interest of the Trust Property. By the purchase and acceptance or other lawful delivery and acceptance of Shares, each owner of such Shares shall be deemed to be a Beneficial Owner and beneficiary of the Trust and vested with beneficial undivided interest in the Trust to the extent of the Shares owned beneficially by such Beneficial Owner, subject to the terms and conditions of this Trust Agreement.
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No Management or Control; Limited Liability; Exercise of Rights through a Participant. The Shareholders shall not participate in the management or control of the Fund nor shall they enter into any transaction on behalf of the Fund or have the power to sign for or bind the Fund, said power being vested solely and exclusively in the Manager. Except as provided in SECTION 6.3 hereof, no Shareholder shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Fund in excess of its Percentage Interest of the Fund Property or any other amount that such Shareholder has expressly agreed to contribute to the Fund. Except as provided in SECTION 6.3 hereof, no Shareholder shall be required to make any further contribution to the Fund and no assessment shall be made against any Shareholder. No salary shall be paid to any Shareholder in its capacity as a Shareholder, nor shall any Shareholder have a drawing account or earn interest on its Percentage Interest of the Fund Property. By the purchase and acceptance or other lawful delivery and acceptance of Shares, each owner of such Shares shall be deemed to be a Shareholder and beneficiary of the Fund and vested with beneficial undivided interest in the Fund to the extent of the Shares owned beneficially by such Shareholder, subject to the terms and conditions of this Agreement.
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No Management or Control; Limited Liability; Exercise of Rights through a Participant. The Beneficial Owners shall not participate in the management or control of the Trust nor shall they enter into any transaction on behalf of the Trust or have the power to sign for or bind the Trust, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.03 hereof, no Beneficial Owner shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust in excess of its Percentage Interest of the Trust Property. Except as provided in Section 9.03 hereof, each Share owned by a Beneficial Owner shall be fully paid and no assessment shall be made against any Beneficial Owner. No salary shall be paid to any Beneficial Owner in its capacity as a Beneficial Owner, nor shall any Beneficial Owner have a drawing account or earn interest on its Percentage Interest of the Trust
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Related to No Management or Control; Limited Liability; Exercise of Rights through a Participant

  • No Rights as Shareholder Until Exercise; No Settlement in Cash This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise” pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the Company be required to net cash settle an exercise of this Warrant.

  • No Rights as Stockholder Until Exercise; No Settlement in Cash This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise” pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the Company be required to net cash settle an exercise of this Warrant.