Common use of Trust Not a Partnership Clause in Contracts

Trust Not a Partnership. It is hereby expressly declared that a trust and not a partnership is created hereby. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust shall have any power to bind personally either the Trust's Trustees or officers or any Shareholders. All persons extending credit to, contracting with or having any claim against the Trust shall look only to the assets of the Trust for payment under such credit, contract or claim, and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or agents, whether past, present or future, shall be personally liable therefor. Nothing in this Trust Agreement shall protect any Trustee against any liability to which such Trustee would otherwise be subject by reason of wilful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.

Trust Not a Partnership. It is hereby expressly declared that a statutory trust and not a partnership is created hereby. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust No Trustee hereunder shall have any power to bind personally either the Trust's Trustees or ’s officers or any ShareholdersShareholder. All persons Persons extending credit to, contracting with with, or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Series or (if the Trustees shall have yet to have established the Series) the Trust for payment under such credit, contract contract, or claim, ; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or their agents, whether past, present present, or future, shall be personally liable therefortherefore. Nothing in this Trust Agreement Instrument shall protect any a Trustee against any liability to which such the Trustee otherwise would otherwise be subject by reason of wilful willful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.

Trust Not a Partnership. It is hereby expressly declared that a ------------- ----------------------- trust and not a partnership is created hereby. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust No Trustee hereunder shall have any power to bind personally either the Trust's Trustees or officers or any ShareholdersShareholder. All persons extending credit to, contracting with with, or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Series or (If the Trustees shall have yet to have established the Series) the Trust for payment under such credit, contract contract, or claim, ; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or their agents, whether past, present present, or future, shall be personally liable therefortherefore. Nothing in this Trust Agreement Instrument shall protect any a Trustee against any liability to which such the Trustee otherwise would otherwise be subject by reason of wilful willful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.

Trust Not a Partnership. It is hereby expressly declared that the Trust is a statutory trust and not a partnership is created herebypartnership. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust No Trustee hereunder shall have any power to bind personally either the Trust's Trustees or ’s officers or any ShareholdersShareholder. All persons Persons extending credit to, contracting with with, or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Series or (if the Trustees shall have yet to have established the Series) the Trust for payment under such credit, contract contract, or claim, ; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or their agents, whether past, present present, or future, shall be personally liable therefortherefore. Nothing in this Trust Agreement Instrument shall protect any a Trustee against any liability to which such the Trustee otherwise would otherwise be subject by reason of wilful willful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.

Trust Not a Partnership. It is hereby expressly declared that a trust and not a partnership is created hereby. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust No Trustee hereunder shall have any power to bind personally either the Trust's Trustees or officers or any ShareholdersShareholder. All persons extending credit to, contracting with with, or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Series or (If the Trustees shall have yet to have established the Series) the Trust for payment under such credit, contract contract, or claim, ; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or their agents, whether past, present present, or future, shall be personally liable therefortherefore. Nothing in this Trust Agreement Instrument shall protect any a Trustee against any liability to which such the Trustee otherwise would otherwise be subject by reason of wilful willful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.

Trust Not a Partnership. It is hereby expressly declared that a trust and not a partnership is created hereby. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust No Trustee hereunder shall have any power to bind personally either the Trust's Trustees or ’s officers or any ShareholdersShareholder. All persons extending credit to, contracting with with, or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Series, or, if the Trustees shall have yet to have established the Series, the Trust for payment under such credit, contract contract, or claim, ; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or their agents, whether past, present present, or future, shall be personally liable therefor. Nothing in this Trust Agreement Instrument shall protect any a Trustee against any liability to which such the Trustee otherwise would otherwise be subject by reason of wilful willful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.

Trust Not a Partnership. It is hereby expressly declared that a trust and not a partnership is created hereby. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust No Trustee hereunder shall have any power to bind personally either the Trust's Trustees or officers or any ShareholdersShareholder. All persons extending credit to, contracting with with, or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Series or (if the Trustees shall have yet to have established the Series) the Trust for payment under such credit, contract contract, or claim, ; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or their agents, whether past, present present, or future, shall be personally liable therefortherefore. Nothing in this Trust Agreement Instrument shall protect any a Trustee against any liability to which such the Trustee otherwise would otherwise be subject by reason of wilful willful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.

Trust Not a Partnership. It is hereby expressly declared that a trust and not a partnership is created hereby. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust No Trustee hereunder shall have any power to bind personally either the Trust's Trustees or ’s officers or any ShareholdersShareholder. All persons Persons extending credit to, contracting with with, or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Series or (if the Trustees shall have yet to have established the Series) the Trust for payment under such credit, contract contract, or claim, ; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or their agents, whether past, present present, or future, shall be personally liable therefortherefore. Nothing in this Trust Agreement shall protect any a Trustee against any liability to which such the Trustee otherwise would otherwise be subject by reason of wilful willful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.

Trust Not a Partnership. It is hereby expressly declared that a trust and not a partnership is created hereby. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust No Trustee hereunder shall have any power to bind personally either the Trust's Trustees or Trust officers or any ShareholdersShareholder. All persons extending credit to, contracting with or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Series or (if the Trustees shall have yet to have established Series) of the Trust for payment under such credit, contract or claim, ; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or their agents, whether past, present or future, shall be personally liable therefor. Nothing in this Declaration of Trust Agreement shall protect any a Trustee against any liability to which such the Trustee would otherwise be subject by reason of wilful willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.

Trust Not a Partnership. It is hereby expressly declared that a trust and not a partnership is created hereby. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust No Trustee hereunder shall have any power to bind personally either the Trust's Trustees or ’s officers or any ShareholdersShareholder. All persons extending credit to, contracting with with, or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Series or (if the Trustees shall have yet to have established the Series) the Trust for payment under such credit, contract contract, or claim, ; and neither the Shareholders nor the Trustees, nor any of the Trust's officers, employees or their agents, whether past, present present, or future, shall be personally liable therefortherefore. Nothing in this Trust Agreement Instrument shall protect any a Trustee against any liability to which such the Trustee otherwise would otherwise be subject by reason of wilful willful misfeasance, bad faith, gross negligence negligence, or reckless disregard of the duties involved in the conduct of the office of Trustee hereunder.