TRUSTEE'S AUTHORITY AND EXCULPATORY Clause Samples

The Trustee's Authority and Exculpatory clause defines the powers granted to the trustee and limits their liability for actions taken in good faith within the scope of those powers. Typically, this clause outlines the trustee's ability to manage, invest, and distribute trust assets, while also specifying that the trustee is not personally liable for losses resulting from reasonable decisions or reliance on professional advice. Its core function is to provide the trustee with clear operational authority and to protect them from undue personal risk, thereby encouraging effective trust administration.
TRUSTEE'S AUTHORITY AND EXCULPATORY. AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO hereby represents and warrants that it is fully empowered and authorized to execute this Lease on the terms and conditions contained herein pursuant to the Trust Agreement dated May 15, 1994, and known as Trust Number MP - 012430, and that such terms and conditions do not violate the provisions of such Trust. It is expressly understood and agreed by and between the parties hereto, anything herein to the contrary notwithstanding, that each and all of the representations, covenants, undertakings, and agreements herein made on the part of the Landlord while in form purporting (except as herein otherwise expressed) to be the representations, covenants, undertakings, and agreements of the Landlord are nevertheless each and every one of them, made and intended not as personal representations, covenants, undertakings, and agreements by the Landlord or for the purpose or with the intention of binding the Landlord personally, but are made and/or intended for the purpose of binding the Site and the Building; that this Lease is executed and delivered by said Landlord not in its own right, but solely in the exercise of the powers conferred upon it as such trustee; that no duty shall rest upon Landlord to sequester the trust estate or the rents, issues, and profits arising therefrom, or the proceeds arising from any sale or other disposition thereof; and that no personal liability or personal responsibility is assumed by nor shall at any time be asserted or enforceable against AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO, or any of the beneficiaries under said Trust Agreement, on account of this Lease or on account of any representations, covenants, undertakings, or agreements of the Landlord in this Lease contained herein either expressed or implied; all such personal liability, if any, being expressly waived and released by the Tenant herein and by all persons claiming by, through, or under said Tenant.
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  • Duties of Agent; Exculpatory Provisions (a) The Agent’s duties hereunder and under the Notes are solely ministerial and administrative in nature and the Agent shall not have any duties or obligations except those expressly set forth herein. Without limiting the generality of the foregoing, the Agent: (i) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; (ii) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein); provided that the Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is contrary to this Agreement or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any debtor relief law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any debtor relief law; and (iii) shall not, except as expressly set forth herein, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Agent or any of its Affiliates in any capacity. (b) The Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 8.01 or 6.01) or (ii) in the absence of its own gross negligence or willful misconduct. The Agent shall be deemed not to have knowledge of any Default or the event or events that give or may give rise to any Default other than a Default described in Section 6.01(a) unless and until the Borrower or any Lender shall have given notice to the Agent describing such Default and such event or events. (c) The Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty, representation or other information made or supplied in or in connection with this Agreement, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith or the adequacy, accuracy and/or completeness of the information contained therein, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article III or elsewhere herein, other than (but subject to the foregoing clause (ii)) to confirm receipt of items expressly required to be delivered to the Agent. (d) Nothing in this Agreement shall require the Agent or any of its Related Parties to carry out any “know your customer” or other checks in relation to any Person on behalf of any Lender and each Lender confirms to the Agent that it is solely responsible for any such checks it is required to carry out and that it may not rely on any statement in relation to such checks made by the Agent or any of its Related Parties.

  • Exculpatory Provisions The Administrative Agent shall have no duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder and thereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent shall not: (a) be subject to any fiduciary or other implied duties, regardless of whether any Default or any Event of Default has occurred and is continuing; (b) have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), as applicable; provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and (c) except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and the Administrative Agent shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by any Person serving as the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 8.2 and 10.1), or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Section 5.1, Section 5.2 or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent.

  • Other Provisions of General Application 7.1. Notices to the Rights Agent and Parent. Any notice or other communication required or permitted to be delivered to Parent or the Rights Agent under this Agreement shall be in writing and shall be deemed properly delivered, given and received (a) upon receipt when delivered by hand, (b) two Business Days after being sent by registered mail or by courier or express delivery service, (c) if sent by email transmission prior to 6:00 p.m. recipient’s local time, upon transmission when receipt is confirmed or (d) if sent by email transmission after 6:00 p.m. recipient’s local time and receipt is confirmed, the Business Day following the date of transmission; provided that in each case the notice or other communication is sent to the physical address or email address, as applicable, set forth beneath the name of such party below (or to such other physical address or email address as such party shall have specified in a written notice given to the other party): If to the Rights Agent, to it at: Computershare Inc. [Address] Attention: [ ] Facsimile: [ ] Email: [ ] If to Parent, to it at: AcelRx Pharmaceuticals, Inc. ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attention: Chief Financial Officer Phone: ▇▇▇-▇▇▇-▇▇▇▇ with a copy to: AcelRx Pharmaceuticals, Inc. ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attention: Legal Department Phone: ▇▇▇-▇▇▇-▇▇▇▇ Email: ▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇ with a copy to: ▇▇▇▇▇▇ LLP ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇; ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ E-mail: ▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇; ▇▇▇▇@▇▇▇▇▇▇.▇▇▇ Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ The Rights Agent or Parent may specify a different address, facsimile number or email address by giving notice in accordance with this Section 7.1.

  • Limitations and Exclusions The Company shall not be responsible for, and this limited warranty does not cover, any loss resulting from any of the following: • The use of other manufacturers’ products unless such products are specifically recommended or approved by the Company in writing in advance of their installation, in connection with the use of the Products. • Any repairs, replacements, penetrations, or alterations of the Products by any person or entity other than authorized representatives of the Company without prior written consent of the Company. • Water passing through any portion of a structure or building component other than directly through the Products due to a failure in the Products and/or connections between the Products (so long as the connections are Company Products), or any interior moisture, vapor, or condensation. • Construction, design, specification, storage, application, exposure, installation practices, use of the Products, or use of material, that is not in compliance with the Company’s published literature. • Unauthorized changes in the Products’ details or specifications for the project that were not reviewed and approved in advance by the Company in writing. • Failure to maintain the building and the Products with reasonable care. • Mold, mildew, insects, pests, fungi, algae, bacteria, air quality, and similar conditions. • Improper design, engineering, application installation or workmanship of any portion or component of the Products or the structure; or failure, distortion or structural movement of the walls, foundation, or any other portion or component of the structure, including, but not limited to, movement, cracking, deflection, settling of the building or movement of the framing members. • Impact with objects, hurricanes, tropical storms, tornadoes, high winds, hailstorms, earthquakes, sandstorms, floods, natural disasters, fires, vandalism, war, terrorism, animals, other similar acts of God or nature, force majeure events, or significant or unintended immersion or pooling of water. • Abuse, misuse, neglect, damage, or negligence by the Owner, the Applicator, the general contractor, or other trades performing work on the project, or any third party. • Change in principal usage or amount of usage of structure without prior written approval of the Company. • Intermixing of the Products with other chemicals or materials not specifically required by the Company’s specifications or application instructions. If, at the Owner’s request, the Company performs any services or supplies any materials as a mitigation or remediation measure in connection with any unwarranted loss described above, the Company shall be entitled to compensation for such services or materials. The Company makes no warranty with respect to appearance or color. No representative of the Company has the authority to make any representations, warranties, or promises except as stated herein. No waiver by the Company of any limitation, term or condition of this warranty shall operate as a waiver of any other limitation, term or condition applicable to any claim, whether of like or different nature. No delay or failure on the Company’s part to enforce any right or claim, which it may have hereunder, shall constitute a waiver of such right or claim. If any part of this warranty shall be determined to be invalid, then such portion shall be deemed severed from the warranty and the remaining terms, exclusions and limitations shall apply. The Company’s obligations under this warranty are expressly conditioned upon receipt of full payment for the Products. Any delay in full payment to the Company shall not extend the warranty term. This warranty is issued to the above-named Owner and is not assignable or transferable, except upon the express written consent of the Company. THE COMPANY UNDERTAKES NO RESPONSIBILITY FOR THE QUALITY OF THE PRODUCTS EXCEPT AS PROVIDED IN THIS LIMITED WARRANTY. IN OTHER WORDS, THE COMPANY EXPRESSLY DISCLAIMS ALL EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY. THE COMPANY ASSUMES NO RESPONSIBILITY THAT THE PRODUCTS WILL BE FIT FOR ANY PARTICULAR PURPOSE FOR WHICH THE PRODUCTS MAY BE PURCHASED, EXCEPT AS PROVIDED IN THIS LIMITED WARRANTY. IN OTHER WORDS, THE COMPANY EXPRESSLY DISCLAIMS ALL EXPRESS OR IMPLIED WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE. THE COMPANY MAKES NO OTHER OR FURTHER WARRANTIES IN CONNECTION WITH THE PRODUCTS EXCEPT AS EXPRESSLY STATED IN THIS WARRANTY DOCUMENT. THE COMPANY WILL NOT BE RESPONSIBLE UNDER THIS LIMITED WARRANTY FOR ANY INCIDENTAL, SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, WHETHER ARISING IN CONTRACT OR TORT (INCLUDING INTENTIONAL, NEGLIGENCE OR OTHERWISE), FOR BREACH OF WARRANTY OR UNDER ANY OTHER THEORY OF LIABILITY, WHETHER OR NOT ARISING FROM OR RELATING TO, DIRECTLY OR INDIRECTLY, THIS WARRANTY, OR THE PERFORMANCE OF, DEFECTS IN, OR IN ANY WAY CONNECTED WITH, THE PRODUCTS COVERED BY THIS WARRANTY. THE COMPANY WILL HAVE NO LIABILITY FOR, AND EXPRESSLY DISCLAIMS LIABILITY FOR, ANY OTHER DAMAGE TO THE BUILDING OR THE CONTENTS OF THE BUILDING AND FOR ANY OTHER CLAIMED DAMAGES, LOSSES, COSTS AND EXPENSES OTHER THAN AS EXPRESSLY SET FORTH IN THIS WARRANTY. THIS REMEDY EXPRESSLY SET OUT IN THIS WARRANTY WILL BE THE EXCLUSIVE REMEDY FOR ALL PERSONS ENTITLED TO WARRANTY COVERAGE AS DESCRIBED ABOVE. NO OTHER REMEDY SHALL BE APPLICABLE. SOME JURISDICTIONS LIMIT OR DO NOT ALLOW THE DISCLAIMER OF CERTAIN REMEDIES OR THE EXCLUSION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES. THE EXCLUSIONS AND LIMITATIONS OF REMEDIES AND DAMAGES IN THIS SECTION FULLY APPLY TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW. The terms of this warranty may not be altered, modified, or supplemented except in a writing signed by an officer of the Company that expressly refers to this warranty document and number. In the event the Owner: (i) fails to provide the Company with timely notice as described above, (ii) fails to provide required access to the installed Products, (iii) undertakes or permits any actions that cause or contribute to failures, such as unauthorized repairs or perforations of the Products, or (iv) otherwise fails to fulfill its responsibilities as described herein, the Company reserves the right to void this warranty upon written notice to the Owner. To expedite processing, this document may be completed and delivered in electronic form only. This limited warranty applies only to Products installed in the United States and Canada. Under the Quebec Consumer Protection Act, the Company must provide a warranty to consumers, as defined in the Act, that the Company’s products shall be fit for the purpose for which such products of that kind are ordinarily used and that the Products must be durable in normal use for a reasonable length of time, having regard to their price and other factors. For more information about your rights if you are a consumer as defined in the Act, you should consult the Quebec Consumer Protection Act at ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇.▇▇.▇▇/en/capsules/legal-warranty-automatic- protection-consumers. Since the Products are building materials and are not intended to be sold to a “consumer” except as part of real estate or as a major addition thereto, this warranty shall not apply to any party constituting a “consumer” as such term is defined by the ▇▇▇▇▇▇▇▇-▇▇▇▇ Warranty Act.

  • Authority and Validity 14 4.3. No Breach or Violation............................................14 4.4. Assets............................................................14 4.5.