Common use of Liability of Sub-Advisor Clause in Contracts

Liability of Sub-Advisor. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of the Sub-Advisor or any of its officers, directors or employees, the Sub-Advisor shall not be subject to liability to the Advisor for any act or omission in the course of, or connected with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security.

Liability of Sub-Advisor. In Neither the absence Sub-Advisor nor any of its directors, officers or employees shall be liable to the Manager or the Fund for any loss suffered by the Manager or the Fund resulting from any error of judgment made in the good faith exercise of the Sub-Advisor's investment discretion in connection with selecting Fund investments except for losses resulting from willful misfeasance, bad faith, faith or gross negligence of, or from reckless disregard of obligations or of, the duties hereunder on the part of the Sub-Advisor or any of its officersdirectors, directors officers or employees, the Sub-Advisor shall not be subject to liability to the Advisor for any act or omission in the course of, or connected with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security.

Liability of Sub-Advisor. In Neither the absence Sub-Advisor nor any of its directors, officers or employees shall be liable to the Manager, the Fund or its shareholders for any loss suffered by the Manager or the Fund resulting from any error of judgment made in the good faith exercise of the Sub-Advisor's investment discretion in connection with selecting investments for the Series except for losses resulting from willful misfeasance, bad faith, faith or gross negligence of, or from reckless disregard of obligations or of, the duties hereunder on the part of the Sub-Advisor or any of its officersdirectors, directors officers or employees, the Sub-Advisor shall not be subject to liability to the Advisor for any act or omission in the course of, or connected with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security.