Common use of Standard of Liability Clause in Contracts

Standard of Liability. Morgan Stanley and its affiliates (as defined below) shall not be l▇▇▇▇▇ t▇ ▇▇▇▇▇mer, the general partner or the limited partners, or any of its or their respective successors or assigns, for any act, omission, conduct, or activity undertaken by or on behalf of the Customer pursuant to this Agreement which Morgan Stanley determines, in good faith, to be in the best interes▇ ▇▇ ▇h▇ ▇▇▇▇▇mer, unless such act, omission, conduct, or activity by Morgan Stanley or its affiliates constituted misconduct or negligen▇▇. ▇▇t▇▇▇▇ ▇▇miting the foregoing, Morgan Stanley shall have no responsibility or liability to Custome▇ ▇▇▇▇u▇▇▇▇ (▇) in connection with the performance or non-performance by any contract market, clearing house, clearing firm or other third party (including floor brokers not selected by Morgan Stanley and banks) to Morgan Stanley of its obligations in r▇▇▇▇▇▇ ▇▇ ▇▇▇ Contract or oth▇▇ ▇▇▇p▇▇▇▇ ▇▇ Customer; (ii) as a result of any prediction, recommendation or advice made or given by a representative of Morgan Stanley whether or not made or given at the request of Custo▇▇▇; (i▇▇) ▇▇ a result of Morgan Stanley's reliance on any instructions, notices and communic▇▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇elieves to be that of an individual authorized to act on behalf of Customer; (iv) as a result of any delay in the performance or non-performance of any of Morgan Stanley's obligations hereunder directly or indirectly cause▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇nce of any contingency beyond the control of Morgan Stanley including, but not limited to, the unscheduled closu▇▇ ▇▇ a▇ ▇▇▇▇▇nge or contract market or delays in the transmission of orders due to breakdowns or failures of transmission or communication facilities, execution, and/or trading facilities or other systems (including, without limitation, GLOBEX, ACCESS, or other electronic trading systems, facilities or services), it being understood that Morgan Stanley shall be excused from performance of its obligations ▇▇▇▇▇n▇▇▇ ▇▇▇ such period of time as is reasonably necessary after such occurrence to remedy the effects therefrom; (v) as a result of any action taken by Morgan Stanley or its floor brokers to comply with Applicable Law; ▇▇ (▇▇) ▇▇▇ ▇▇y acts or omissions of those neither employed nor supervised by Morgan Stanley. In no event will Morgan Stanley be liable to Custom▇▇ ▇▇▇ ▇▇▇▇▇▇▇ential, incide▇▇▇▇ ▇▇ ▇▇▇c▇▇▇ ▇▇▇ages hereunder.

Standard of Liability. Morgan Stanley and its affiliates (as defined below) shall not be l▇li▇▇▇▇ t▇ ▇o ▇▇▇▇▇mer▇er, the general partner or the limited partners, or any of its or their respective successors or assigns, for any act, omission, conduct, or activity undertaken by or on behalf of the Customer pursuant to this Agreement which Morgan Stanley determines, in good faith, to be in the best interes▇ interest ▇▇ ▇h▇ ▇e ▇▇▇▇▇mer▇er, unless such act, omission, conduct, or activity by Morgan Stanley or its affiliates constituted misconduct or negligen▇negligenc▇. ▇▇t▇h▇▇▇ ▇▇miting ▇iting the foregoing, Morgan Stanley shall have no responsibility or liability to Custome▇ Customer ▇▇▇▇u▇n▇▇▇ (▇) in connection with the performance or non-performance by any contract market, clearing house, clearing firm or other third party (including floor brokers not selected by Morgan Stanley and banks) to Morgan Stanley of its obligations in r▇re▇▇▇▇▇ ▇o▇ ▇▇▇ Contract ▇ontract or oth▇othe▇ ▇▇▇p▇e▇▇▇ ▇▇ Customer; (ii) as a result of any prediction, recommendation or advice made or given by a representative of Morgan Stanley whether or not made or given at the request of Custo▇Custom▇▇; (▇i▇▇) ▇▇ a ▇ result of Morgan Stanley's reliance on any instructions, notices and communic▇communica▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇elieves ▇lieves to be that of an individual authorized to act on behalf of Customer; (iv) as a result of any delay in the performance or non-performance of any of Morgan Stanley's obligations hereunder directly or indirectly cause▇ caused ▇▇ ▇▇▇ ▇▇▇▇▇▇▇nce ▇ce of any contingency beyond the control of Morgan Stanley including, but not limited to, the unscheduled closuclosur▇ ▇▇ ▇▇ a▇ n ▇▇▇▇▇nge ▇ge or contract market or delays in the transmission of orders due to breakdowns or failures of transmission or communication facilities, execution, and/or trading facilities or other systems (including, without limitation, GLOBEX, ACCESS, or other electronic trading systems, facilities or services), it being understood that Morgan Stanley shall be excused from performance of its obligations ▇▇▇▇▇n▇d▇▇ ▇▇▇ such period of time as is reasonably necessary after such occurrence to remedy the effects therefrom; (v) as a result of any action taken by Morgan Stanley or its floor brokers to comply with Applicable Law; ▇o▇ (▇▇) ▇▇▇ ▇▇y ▇ acts or omissions of those neither employed nor supervised by Morgan Stanley. In no event will Morgan Stanley be liable to Custom▇Custome▇ ▇▇▇ c▇▇▇▇▇▇▇entialntial, incide▇inciden▇▇▇ ▇▇ ▇▇▇c▇i▇▇ ▇▇▇ages ▇ges hereunder.

Standard of Liability. Morgan Stanley and its affiliates (as defined below) shall not be l▇▇▇▇▇ t▇ ▇▇▇▇▇mere ▇▇ ▇▇▇tomer, the general partner or the limited partners, or any of its or their respective successors or assigns, for any act, omission, conduct, or activity undertaken by or on behalf of the Customer pursuant to this Agreement which Morgan Stanley determines, in good faith, to be in the best interesinter▇▇▇ ▇▇ ▇h▇▇ ▇▇▇▇▇mertomer, unless such act, omission, conduct, or activity by Morgan Stanley or its affiliates constituted misconduct or negligenneglig▇▇▇▇. W▇▇t▇▇▇▇ ▇▇miting limiting the foregoing, Morgan Stanley shall have no responsibility or liability to CustomeCusto▇▇▇ ▇▇r▇▇u▇▇▇▇ (▇i) in connection with the performance or non-performance by any contract market, clearing house, clearing firm or other third party (including floor brokers not selected by Morgan Stanley and banks) to Morgan Stanley of its obligations in ▇▇▇▇▇c▇ ▇▇ ▇▇y Contract or o▇▇▇▇ ▇r▇▇▇▇▇▇ ▇▇ ▇▇▇ Contract or oth▇▇ ▇▇▇p▇▇▇▇ ▇▇ of Customer; (ii) as a result of any prediction, recommendation or advice made or given by a representative of Morgan Stanley whether or not made or given at the request of CustoCus▇▇▇▇▇; (i▇▇▇) ▇▇ s a result of Morgan Stanley's reliance on any instructions, notices and communiccommun▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇elieves believes to be that of an individual authorized to act on behalf of Customer; (iv) as a result of any delay in the performance or non-performance of any of Morgan Stanley's obligations hereunder directly or indirectly causecau▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇nce rence of any contingency beyond the control of Morgan Stanley including, but not limited to, the unscheduled closuclo▇▇▇▇ ▇▇ af ▇▇ ▇▇▇▇▇nge hange or contract market or delays in the transmission of orders due to breakdowns or failures of transmission or communication facilities, execution, and/or trading facilities or other systems (including, without limitation, GLOBEX, ACCESS, or other electronic trading systems, facilities or services), it being understood that Morgan Stanley shall be excused from performance of its obligations obligatio▇▇ ▇▇▇e▇▇▇▇▇n▇▇▇ ▇▇▇ or such period of time as is reasonably necessary after such occurrence to remedy the effects therefrom; (v) as a result of any action taken by Morgan Stanley or its floor brokers to comply with Applicable Law; ▇▇ (▇v▇) ▇▇▇ ▇▇y any acts or omissions of those neither employed nor supervised by Morgan Stanley. In no event will Morgan Stanley be liable to CustomCust▇▇▇▇ ▇▇o▇ ▇▇▇▇▇quential, inci▇▇ential, incide▇▇▇▇ ▇▇ ▇p▇▇c▇▇▇ ▇▇▇ages amages hereunder.

Standard of Liability. Morgan Stanley and its affiliates (as defined below) shall not be l▇▇▇▇▇▇ t▇▇ ▇▇▇▇▇meromer, the general partner or the limited partnerspartners of the Customer ("Limited Partners"), or any of its or their respective successors or assigns, for any act, omission, conduct, or activity undertaken by or on behalf of the Customer pursuant to this Agreement which Morgan Stanley determines, in good faith, to be in the best interesintere▇▇ ▇▇ t▇h▇ ▇▇▇▇▇meromer, unless such act, omission, conduct, or activity by Morgan Stanley or its affiliates constituted misconduct or negligenneglige▇▇▇. ▇i▇t▇▇▇▇ ▇▇miting imiting the foregoing, Morgan Stanley shall have no responsibility or liability to CustomeCustom▇▇ ▇▇▇e▇u▇▇▇▇ (▇i) in connection with the performance or non-performance by any contract market, clearing house, clearing firm or other third party (including floor brokers not selected by Morgan Stanley and banks) to Morgan Stanley of its obligations in r▇▇▇i▇▇▇▇▇▇▇ ▇▇ ▇▇▇ in respect of any Contract or oth▇▇ ▇▇▇p▇▇▇▇ ▇▇ other property of Customer; (ii) as a result of any prediction, recommendation or advice made or given by a representative of Morgan Stanley whether or not made or given at the request of CustoCust▇▇▇▇; (i▇▇▇) ▇▇ a result of Morgan Stanley's reliance on any instructions, notices and communiccommuni▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇elieves believes to be that of an individual authorized to act on behalf of Customer; (iv) as a result of any delay in the performance or non-performance of any of Morgan Stanley's obligations hereunder directly or indirectly causecaus▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇nce ence of any contingency beyond the control of Morgan Stanley including, but not limited to, the unscheduled closuclos▇▇▇ ▇▇ a▇▇ ▇▇▇▇▇nge ange or contract market or delays in the transmission of orders due to breakdowns or failures of transmission or communication facilities, execution, and/or trading facilities or other systems (including, without limitation, GLOBEX, ACCESS, or other electronic trading systems, facilities or services), it being understood that Morgan Stanley shall be excused from performance of its obligations obligation▇ ▇▇▇▇u▇n▇▇▇ ▇▇▇ r such period of time as is reasonably necessary after such occurrence to remedy the effects therefrom; (v) as a result of any action taken by Morgan Stanley or its floor brokers to comply with Applicable Law; ▇▇ (▇▇i) ▇▇▇ ▇▇y ny acts or omissions of those neither employed nor supervised by Morgan Stanley. In no event will Morgan Stanley be liable to CustomCusto▇▇▇ ▇▇▇ r ▇▇▇▇▇▇uential, incid▇ential, incide▇▇▇▇ ▇▇ ▇▇e▇c▇▇▇ ▇▇▇ages mages hereunder.