Common use of Liabilities of the Adviser Clause in Contracts

Liabilities of the Adviser. A. Except as provided below, in the absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of obligations or duties hereunder on the part of the Adviser, the Adviser shall not be subject to liability to Morgan Keegan Select or to any shareholder of Morgan Keegan Select ▇▇ ▇▇▇ ▇▇▇▇ ▇▇r any error of judgment or mistake of law in the course of, or connected with, rendering services hereunder or for any losses that may be sustained by the Fund, Morgan Keegan Select, or its shareholders in connection with the mat▇▇▇▇ ▇▇ ▇▇▇▇▇ this Agreement relates. B. Nothing in this paragraph shall be deemed a limitation or waiver of any obligation or duty that may not by law be limited or waived.

Liabilities of the Adviser. A. Except as provided below, in the absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of obligations or duties hereunder on the part of the Adviser, the Adviser shall not be subject to liability to Morgan Keegan Select or to any shareholder of Morgan Keegan Select ▇▇▇▇▇▇ ▇▇ ▇▇▇ Fund for any error of judgment or m▇▇▇▇▇▇ ▇▇ ▇r any error of judgment or mistake of law ▇▇ in the course of, or connected with, rendering services hereunder or for any losses that may be sustained by the Fund, Morgan Keegan Select, or its shareholders in connection with the matth▇ ▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ which this Agreement relates. B. Nothing in this paragraph shall be deemed a limitation or waiver of any obligation or duty that may not by law be limited or waived.