Common use of Measure of Liability Clause in Contracts

Measure of Liability. Neither ▇▇▇▇▇▇ ▇▇▇ nor any of the directors, officers, employees or agents of ▇▇▇▇▇▇ Mae shall be under any liability for any action taken or for refraining from the taking of any action in good faith pursuant to the terms of this Trust Agreement, or for errors in judgment; provided, however, that this provision shall not protect ▇▇▇▇▇▇ ▇▇▇ or any such person against any liability for action or inaction by reason of willful misfeasance, bad faith or gross negligence, or by reason of willful disregard of obligations and duties. ▇▇▇▇▇▇ ▇▇▇ shall have no obligation to appear in, prosecute or defend any legal action which is not incidental to its duties under this Trust Agreement and which in its opinion may involve it in expense or liability; provided, however, that ▇▇▇▇▇▇ Mae in its discretion may undertake any such legal action which it may deem necessary or desirable in the interests of the Holders. In the event that ▇▇▇▇▇▇ ▇▇▇ in its discretion so determines to undertake any such legal action, ▇▇▇▇▇▇ Mae for its own account shall pay and defray the expense of any such action, including attorneys’ fees.

Measure of Liability. Neither ▇▇▇▇▇▇ ▇▇▇ Mae nor any of the directors, officers, employees or agents of ▇▇▇▇▇▇ Mae ▇▇▇ shall be under any liability for any action taken or for refraining from the taking of any action in good faith pursuant to the terms of this Trust Agreement, or for errors in judgment; provided, however, that this provision shall not protect ▇▇▇▇▇▇ ▇▇▇ Mae or any such person against any liability for action or inaction by reason of willful misfeasance, bad faith or gross negligence, or by reason of willful disregard of obligations and duties. ▇▇▇▇▇▇ ▇▇▇ shall have no obligation to appear in, prosecute or defend any legal action which is not incidental to its duties under this Trust Agreement and which in its opinion may involve it in expense or liability; provided, however, that ▇▇▇▇▇▇ Mae in its discretion may undertake any such legal action which it may deem necessary or desirable in the interests of the Holders. In the event that ▇▇▇▇▇▇ ▇▇▇ in its discretion so determines to undertake any such legal action, ▇▇▇▇▇▇ Mae for its own account shall pay and defray the expense of any such action, including attorneys’ fees.

Measure of Liability. Neither ▇▇▇▇▇▇ ▇▇▇ nor any of the directors, officers, employees or agents of ▇▇▇▇▇▇ Mae shall be under any liability for any action taken or for refraining from the taking of any action in good faith pursuant to the terms of this Trust Agreement, Agreement or for errors in judgment; provided, however, that this provision shall not protect ▇▇▇▇▇▇ ▇▇▇ or any such person against any liability for action or inaction by reason of willful misfeasance, bad faith or gross negligence, or by reason of willful disregard of obligations and duties. ▇▇▇▇▇▇ ▇▇▇ shall have no obligation to appear in, prosecute or defend any legal action which is not incidental to its duties under this Trust Agreement and which in its opinion may involve it in expense or liability; provided, however, that ▇▇▇▇▇▇ Mae in its discretion may undertake any such legal action which it may deem necessary or desirable in the interests of the HoldersCertificateholders. In the event that ▇▇▇▇▇▇ ▇▇▇ in its discretion so determines to undertake any such legal action, ▇▇▇▇▇▇ Mae for its own account shall pay and defray the expense of any such action, including attorneys’ fees.

Measure of Liability. Neither ▇▇▇▇▇▇ ▇▇▇ Mae nor any of the directors, officers, employees or agents of ▇▇▇▇▇▇ Mae ▇▇▇ shall be under any liability for any action taken or for refraining from the taking of any action in good faith pursuant to the terms of this Trust Agreement, Agreement or for errors in judgment; provided, however, that this provision shall not protect ▇▇▇▇▇▇ ▇▇▇ Mae or any such person against any liability for action or inaction by reason of willful misfeasance, bad faith or gross negligence, or by reason of willful disregard of obligations and duties. ▇▇▇▇▇▇ ▇▇▇ shall have no obligation to appear in, prosecute or defend any legal action which is not incidental to its duties under this Trust Agreement and which in its opinion may involve it in expense or liability; provided, however, that ▇▇▇▇▇▇ Mae in its discretion may undertake any such legal action which it may deem necessary or desirable in the interests of the HoldersCertificateholders. In the event that ▇▇▇▇▇▇ ▇▇▇ in its discretion so determines to undertake any such legal action, ▇▇▇▇▇▇ Mae for its own account shall pay and defray the expense of any such action, including attorneys’ fees.