Common use of Liability of the Investment Manager Clause in Contracts

Liability of the Investment Manager. The Fund shall indemnify the Investment Manager and its principal, officers and employees against all expenses, including legal fees, and against all judgments, fines and amounts paid in settlement and reasonably incurred in connection with legal, administrative or investigative proceedings or otherwise in connection with its acting as Investment Manager hereunder; provided, that nothing herein shall be deemed either to protect or to purport to protect the Investment Manager or its principal, officers or employees against any liability to which it otherwise would be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties hereunder or by reason of its reckless disregard of its obligations and duties hereunder.

Liability of the Investment Manager. The Fund Funds shall indemnify the Investment Manager and its principal, officers and employees against all expenses, including legal fees, and against all judgments, fines and amounts paid in settlement and reasonably incurred in connection with legal, administrative or investigative proceedings or otherwise in connection with its acting as Investment Manager hereunder; provided, that nothing herein shall be deemed either to protect or to purport to protect the Investment Manager or its principal, officers or employees against any liability to which it otherwise would be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties hereunder or by reason of its reckless disregard of its obligations and duties hereunder.