Common use of General Disclaimer of Liability Clause in Contracts

General Disclaimer of Liability. ‌ The Manager, its Affiliates, subsidiaries and agents, and their respective directors, officers and employees, or any other person retained by the Manager to discharge any of the Manager's responsibilities shall not be liable to a Fund, to any Unitholder or any other person for any loss, damage, cost, charge, judgment or expense (including reasonable legal costs) resulting from any act or omission in connection with the discharge of its duties and obligations under this Trust Agreement except to the extent such loss, damage, cost, charge, judgment or expense is caused by its gross negligence, misfeasance, wilful default or failure to comply with its standard of care in Section 13.1 The liability of the Manager in respect of its actions as manager of a Fund (except liability for breach of Section 13.1 hereof) is limited to the realizable value of the assets of a Fund.