Guam § 8 - Liability of Trustee, Depositary and Registrar.

§ 8. Liability of Trustee, Depositary and Registrar.

The recitals of facts herein and in the Bonds contained shall

be taken as statements of the Government, and neither the Trustee

nor the Depositary nor the Registrar assumes any responsibility

for the correctness of the same, or makes any representations as to

the validity or sufficiency of this Indenture, of the Bonds, or any

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credit facility or pledge and assignment of Revenues hereon or

shall incur any responsibility in respect thereof, other than in

connection with the duties or obligations herein or in the Bonds

assigned to or imposed upon them, respectively. The Registrar

shall, however, be responsible for its representations contained in

its certificate of authentication and registration on the Bonds.

Neither the Trustee nor the Depositary nor the Registrar shall be

liable in connection with the performance of their respective

duties hereunder, except for their own respective negligence or

willful misconduct. Any Fiduciary may become the owner of the

Bonds with the same rights it would have if it were not a

Fiduciary, and, to the extent permitted by law, may act as

depositary for and permit any of their officers or directors to act

as a member of, or in any other capacity with respect to, any

committee formed to protect the rights of Bondholders, whether

or not such committee shall represent the Holders of a majority in

principal amount of the Bonds then Outstanding.