Common use of Liability of Keystone Clause in Contracts

Liability of Keystone. MainStay Funds understands and agrees that the obligations of Keystone on behalf of the Acquired Fund under this Agreement shall not be binding upon any trustee, shareholder, nominee, officer, agent or employee of Keystone on behalf of Keystone personally, but bind only Keystone on behalf of the Acquired Fund and the Acquired Fund’s property. Moreover, no series of Keystone other than the Acquired Fund shall be responsible for the obligations of Keystone hereunder, and all persons shall look only to the assets of the Acquired Fund to satisfy the obligations of the Acquired Fund hereunder. MainStay Funds represents that it has notice of the provisions of the Declaration of Trust of Keystone disclaiming shareholder and trustee liability for acts or obligations of the Acquired Fund.