Not a Trustee Sample Clauses
The "Not a Trustee" clause clarifies that a party to the agreement is not acting as a trustee or fiduciary for the other party. In practice, this means that the party does not have any special duties to manage assets or act in the best interests of the other party, and is not responsible for holding or safeguarding property on their behalf. This clause is important because it prevents any misunderstanding or legal presumption that a trust relationship exists, thereby limiting the party's obligations and reducing the risk of unintended fiduciary duties.
Not a Trustee. Except as set out in this document, no Australian Loan Party enters into any Loan Document as trustee of any trust or settlement.
Not a Trustee. The Escrow Agent accepts its duties and responsibilities under this Agreement, as agent for the Escrowed Shares solely as custodian, bailee and agent. The Parties acknowledge and agree that no trust is intended to be, or is or will be, created by this Agreement and the Escrow Agent shall owe no duties under this agreement as a trustee.
Not a Trustee. No Credit Party enters, or has entered, into any Credit Document, Hedge Agreement or Cash Management Agreement or holds any property as trustee of a trust or settlement other than with respect to funds held in trust by any Consolidated Entity on behalf of its customers.
Not a Trustee. No Borrower enters into any Loan Document as trustee of any trust or settlement.
Not a Trustee. None of the First Lien Agent or the Sellers will be deemed to be a trustee or agent for the Participants in connection with this Agreement, the First Lien Credit Agreement, the other First Lien Loan Documents, the First Lien Indebtedness or the Collateral, nor will the First Lien Agent or the Sellers be considered to have a fiduciary relationship with the Participants by virtue of this Agreement or any other document or by operation of law, except as set forth in the First Lien Credit Agreement and the other First Lien Loan Documents in its role as First Lien Agent.
Not a Trustee. The Borrowers and their Subsidiaries do not enter, and have not entered, into any Loan Document as trustee.
Not a Trustee. The Obligors do not enter, and have not entered, into any Credit Document as trustee.
Not a Trustee. No Transaction Party (i) enters into any Finance Document as the trustee of any trust and none of the Partnership Property is held by a Partner as trustee of any trust or (ii) holds any assets as the trustee of any trust.
Not a Trustee. No Amendment Party (a) enters into this Agreement or the Amended Note Agreement as the trustee of any trust and none of the Partnership Property is held by a Partner as trustee of any trust or (b) holds any assets as the trustee of any trust.
Not a Trustee. In no event shall the Publisher be obligated to segregate from any of its other funds any of the sums which may be paid to the Publisher by customers or other parties relating to the Work, nor shall the Publisher be considered a trustee, pledge holder or fiduciary of the Author.