take with notice of and subject to....

Hola amigos

Alguien por ahi entiende la interpretacion correcta de la frase "take with notice of and subject to..."? que aparece al final de este parrafo?

Desde ya muchas gracias!


A Responsible Entity and any director, officer or servant of a Responsible Entity being a
corporation shall not be liable to compensate the Trust Fund or any Holders (as such) for any loss
or damage incurred in the execution, or purported or attempted execution or exercise, or failure or
neglect to execute or exercise, any of the trusts or Powers by this Constitution or by law, equity
or statute vested in or upon the Responsible Entity unless it shall be proved to have been
committed or omitted in personal conscious fraudulent bad faith by the Responsible Entity
charged to be so liable. A Responsible Entity shall not be bound to take proceedings against any
former responsible entity for any breach or alleged breach of trust committed by such former
Manager or former responsible entity. All persons at any time claiming any beneficial interest in
over or upon the Trust Fund shall be deemed to take with notice of and subject to the protection
hereby conferred
A Responsible Entity and any director, officer or servant of a Responsible Entity being a
corporation shall not be liable to compensate the Trust Fund or any Holders (as such) for any loss
or damage incurred in the execution, or purported or attempted execution or exercise, or failure or
neglect to execute or exercise, any of the trusts or Powers by this Constitution or by law, equity
or statute vested in or upon the Responsible Entity unless it shall be proved to have been
committed or omitted in personal conscious fraudulent bad faith by the Responsible Entity
charged to be so liable. A Responsible Entity shall not be bound to take proceedings against any
former responsible entity for any breach or alleged breach of trust committed by such former
Manager or former responsible entity. All persons at any time claiming any beneficial interest in
over or upon the Trust Fund shall be deemed to take with notice of and subject to the protection
hereby conferred
A Responsible Entity and any director, officer or servant of a Responsible Entity being a
corporation shall not be liable to compensate the Trust Fund or any Holders (as such) for any loss
or damage incurred in the execution, or purported or attempted execution or exercise, or failure or
neglect to execute or exercise, any of the trusts or Powers by this Constitution or by law, equity
or statute vested in or upon the Responsible Entity unless it shall be proved to have been
committed or omitted in personal conscious fraudulent bad faith by the Responsible Entity
charged to be so liable. A Responsible Entity shall not be bound to take proceedings against any
former responsible entity for any breach or alleged breach of trust committed by such former
Manager or former responsible entity. All persons at any time claiming any beneficial interest in
over or upon the Trust Fund shall be deemed to take with notice of and subject to the protection
hereby conferred
A Responsible Entity and any director, officer or servant of a Responsible Entity being a
corporation shall not be liable to compensate the Trust Fund or any Holders (as such) for any loss
or damage incurred in the execution, or purported or attempted execution or exercise, or failure or
neglect to execute or exercise, any of the trusts or Powers by this Constitution or by law, equity
or statute vested in or upon the Responsible Entity unless it shall be proved to have been
committed or omitted in personal conscious fraudulent bad faith by the Responsible Entity
charged to be so liable. A Responsible Entity shall not be bound to take proceedings against any
former responsible entity for any breach or alleged breach of trust committed by such former
Manager or former responsible entity. All persons at any time claiming any beneficial interest in
over or upon the Trust Fund shall be deemed to take with notice of and subject to the protection
hereby conferred
A Responsible Entity and any director, officer or servant of a Responsible Entity being a
corporation shall not be liable to compensate the Trust Fund or any Holders (as such) for any loss or damage incurred in the execution, or purported or attempted execution or exercise, or failure or neglect to execute or exercise, any of the trusts or Powers by this Constitution or by law, equity or statute vested in or upon the Responsible Entity unless it shall be proved to have been committed or omitted in personal conscious fraudulent bad faith by the Responsible Entity
charged to be so liable. A Responsible Entity shall not be bound to take proceedings against any
former responsible entity for any breach or alleged breach of trust committed by such former
Manager or former responsible entity. All persons at any time claiming any beneficial interest in
over or upon the Trust Fund shall be deemed to take with notice of and subject to the protection hereby conferred

"All persons at any time claiming any beneficial interest in over or upon the Trust Fund shall be deemed to take with notice of and subject to the protection hereby conferred".

My interpretation is the following:

All persons at any time claiming any beneficial interest in over or upon the Trust Fund shall be deemed to be hereby duly notified and be legally bound by this protection.

:)