Liability of Broker Sample Clauses

The "Liability of Broker" clause defines the extent to which a broker may be held responsible for losses, damages, or claims arising from their actions or omissions in the course of providing brokerage services. Typically, this clause outlines specific circumstances under which the broker is liable, such as cases of negligence, willful misconduct, or breach of contract, and may also set limitations or exclusions on the broker's liability for certain types of damages. Its core practical function is to allocate risk between the parties by clarifying when the broker can be held accountable, thereby reducing uncertainty and potential disputes regarding responsibility for losses.
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Liability of Broker. Broker agrees to indemnify and hold BNYCS and the Indemnified Parties (as defined in Section 3.2.2) harmless from and against any and all actions, causes of action, claims, losses, liabilities, damages or expense (including, but not limited to, fees and costs of legal counsel including such fees and expenses as incurred in connection with enforcing this provision) to BNYCS and/or the Indemnified Parties, as incurred, related to or arising out of this Agreement, any Account, any transaction in or for any Account, or any act or omission by Broker, by any Customer or by any third party (other than any service provider to BNYCS) other than for acts or omissions for which BNYCS shall indemnify Broker under Section 9.
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Liability of Broker. The Purchaser acknowledges that, notwithstanding any provision to the contrary herein, the Broker has entered into this Agreement solely in its capacity as Court-appointed seller of the Purchased Assets and not in its personal or corporate capacity and that the Broker shall not in any circumstances incur any personal liability whatsoever in connection with this Agreement. In no event shall Broker be liable for special, contingent, incidental, indirect or consequential damage.
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Liability of Broker. Broker agrees to indemnify and hold ConvergEx and its affiliates, as well as their respective controlling persons, successors, assigns, managers, officers, employees, representatives and agents (such persons being the “Indemnified Parties”) harmless from and against any and all actions, proceedings, causes of action, claims, losses, liabilities, damages or expenses (including, but not limited to, fees and costs of legal counsel, including, but not limited to, fees and expenses as incurred in connection with enforcing this provision), as incurred, related to or arising out of this Agreement, any Account, any order or transaction in or for any Account, any breach of applicable margin regulations or house margin requirements by an Account, any breach of this Agreement or violation of Applicable Regulations by Broker, Broker’s use of or access to Data and Technology from Third Party Providers, or any act or omission by Broker, by any Customer or by any third party (other than any service provider to ConvergEx). Broker hereby agrees and warrants that Broker will maintain appropriate brokers blanket bond insurance policies covering any and all acts of Broker’s employees, agents and partners adequate to fully protect and indemnify ConvergEx and the Indemnified Parties. This policy shall be obtained by an insurance broker of ConvergEx’s choosing. Coverage shall be in an amount agreed to by the parties, but in no event shall it be less than $500,000 per occurrence. Further, this insurance shall remain in effect while ConvergEx acts as Broker’s clearing agent and will include coverage for any claims discovered or made within ninety (90) days following the Termination Date.
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Liability of Broker 
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Related to Liability of Broker

  • Liability of City CITY’S PAYMENT OBLIGATIONS UNDER THIS AGREEMENT SHALL BE LIMITED TO THE PAYMENT OF THE COMPENSATION PROVIDED FOR IN SECTION 3.3.1, “PAYMENT,” OF THIS AGREEMENT. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, IN NO EVENT SHALL CITY BE LIABLE, REGARDLESS OF WHETHER ANY CLAIM IS BASED ON CONTRACT OR TORT, FOR ANY SPECIAL, CONSEQUENTIAL, INDIRECT OR INCIDENTAL DAMAGES, INCLUDING, BUT NOT LIMITED TO, LOST PROFITS, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE SERVICES PERFORMED IN CONNECTION WITH THIS AGREEMENT.

  • Liability of Company The Indemnitee agrees that neither the stockholders nor the directors nor any officer, employee, representative or agent of the Company shall be personally liable for the satisfaction of the Company's obligations under this Agreement and the Indemnitee shall look solely to the assets of the Company for satisfaction of any claims hereunder.

  • Liability of the Adviser (a) The Adviser shall have responsibility for the accuracy and completeness (and liability for the lack thereof) of statements in the Fund's Disclosure Documents. (b) The Adviser shall be liable to the Fund for any loss (including transaction costs) incurred by the Fund as a result of any investment made by the Adviser in contravention of: (i) any investment policy, guideline or restriction set forth in the Registration Statement or as approved by the Board from time to time and provided to the Adviser; or (ii) applicable law, including but not limited to the 1940 Act and the Code (including but not limited to the Fund's failure to satisfy the diversification or source of income requirements of Subchapter M of the Code) (the investments described in this subsection (b) collectively are referred to as "Improper Investments"). (c) The Adviser shall indemnify and hold harmless the Trust, each affiliated person of the Trust within the meaning of Section 2(a)(3) of the 1940 Act, and each person who controls the Trust within the meaning of Section 15 of the 1933 Act (any such person, an "Indemnified Party") against any and all losses, claims, damages, expenses or liabilities (including the reasonable cost of investigating and defending any alleged loss, claim, damage, expense or liability and reasonable counsel fees incurred in connection therewith) to which any such person may become subject under the 1933 Act, the 1934 Act, the 1940 Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages, expenses or liabilities (or actions in respect thereof) arise out of or are based upon: (i) a breach by the Adviser of this Agreement or of the representations and warranties made by the Adviser herein; (ii) any Improper Investment; (iii) any untrue statement or alleged untrue statement of a material fact contained in any Disclosure Document or the omission or alleged omission from a Disclosure Document of a material fact required to be stated therein or necessary to make the statements therein not misleading; or (iv) the Adviser's performance or non-performance of its duties hereunder; provided, however, that nothing herein shall be deemed to protect any Indemnified Party who is a Trustee or officer of the Trust against any liability to the Trust or to its shareholders to which such Indemnified Party would otherwise be subject by reason or willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of such person's office with the Trust.

  • Liability of Resident The Resident is liable for any damage to the building structure, fittings, fixtures, finishes, furniture and equipment comprising the Resident’s Room, except only if such damage is caused by the proven negligence of the Institution or the Manager. The Resident is liable for any damage to the building structure, fittings, finishes, furniture and equipment beyond the confines of the Resident’s Room should the damage arise from the negligence or willful act of the Resident. The Manager and the Institution do not assume any responsibility for personal property that is lost, stolen or damaged from any cause. The Resident is strongly encouraged to obtain insurance to cover the above liabilities. Residence does not purchase such protection for personal property. The Resident must also take positive steps to ensure their safety by locking Room doors, and ensuring that only authorized persons enter their Room, suite and/or the building.

  • Liability of Sub-Adviser The Sub-Adviser shall not be liable for any error of judgment or mistake of law or for any loss suffered by the Adviser or the Trust in connection with the performance of this Agreement, except that the Sub-Adviser shall be liable to the Adviser or the Trust for any loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services or any loss resulting from willful misfeasance, bad faith or negligence on the part of the Sub-Adviser in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement.