Common use of No Responsibility for Administration or Fees Clause in Contracts

No Responsibility for Administration or Fees. (1) Class Counsel shall bear all risks related to the investment of the monies in the Trust Account. The Settling Defendants shall not have any responsibility, financial obligations or liability whatsoever with respect to the investment, distribution or administration of monies in the Trust Account including, but not limited to, Administration Expenses and Class Counsel Fees and any responsibility, financial obligation or liability as a result of any decrease or depreciation of the value of the Trust Account, howsoever caused, including but not limited to, a decrease or depreciation in the value of any investments purchased and/or held in the Trust Account. (2) All funds held by Class Counsel shall be considered to be in custodia legis of the Courts and shall remain subject to the jurisdiction of the Courts until such time as such funds have been distributed pursuant to this Settlement Agreement and/or further order of the Courts. (3) Class Counsel hereby indemnifies, defends, and holds harmless the Settling Defendants and their respective directors, officers and employees from and against any harm or injury suffered by reason of the use, misuse, erroneous disbursement, or other action taken or failure to act by Class Counsel with the Settlement Amount or monies in the Trust Account not strictly in accordance with the provisions of this Settlement Agreement or any implementing order of the Courts.