Common use of Trust Provision Clause in Contracts

Trust Provision. 22.1 Each Party described in this Agreement as a trustee (Trustee) enters into this Agreement only in its capacity as a trustee of the trust of which it is described as the Trustee (Trust). 22.2 Subject to clause 22.1, and despite any other provision of this Agreement, a Liability arising under or in connection with this Agreement is limited and can be enforced against a Trustee only to the extent to which the Trustee is indemnified out of the assets of the Trust. 22.3 The limitation set out in clause 22.2 does not apply where the Trustee’s right to indemnification is reduced or lost as a result of fraud, breach of trust or breach of duty by the Trustee. 22.4 This clause 22 will survive the termination or expiry of this Agreement.