Common use of Disabling Conduct Clause in Contracts

Disabling Conduct. The Trustee shall be indemnified pursuant to this Section 1 against any and all Expenses unless the Trustee has been adjudicated, in the relevant Proceeding, in a Final adjudication on the merits, (i) not to have acted in good faith, (ii) not to have acted in the reasonable belief that the Trustee’s action was in the best interests of the relevant Trust or at least was not opposed to the best interests of the Trust, (iii) in the case of a criminal proceeding, to have had reasonable cause to believe his or her action was unlawful, or (iv) to be liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Trustee’s office (each of such exceptions being referred to as “Disabling Conduct”).

Disabling Conduct. The Trustee shall be indemnified pursuant to this Section 1 against any and all Expenses unless the Trustee has been adjudicated, in the relevant any such Proceeding, in a Final adjudication on the merits, merits (ia) not to have acted in good faith, (iib) not to have acted in the reasonable belief that the such Trustee’s action was in the best interests of the relevant Trust or at least was not opposed to the best interests of the such Trust, (iiic) in the case of a criminal proceeding, to have had reasonable cause to believe his or her action was unlawful, unlawful or (ivd) to be liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Trustee’s office (each of such exceptions being referred to as hereinafter as “Disabling Conduct”).

Disabling Conduct. The Trustee shall be indemnified pursuant to this Section 1 against any and all Expenses unless the Trustee has been adjudicated, in the relevant Proceeding, in a Final adjudication on the merits, (i) not to have acted in good faith, (ii) not to have acted in the reasonable belief that the Trustee’s action was in the best interests of the relevant Trust or at least was not opposed to the best interests of the Trust, (iii) in the case of a criminal proceeding, to have had reasonable cause to believe his or her action was unlawful, or (iv) to be liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such Trustee’s office (each of such exceptions being referred to as “Disabling Conduct”).