Common use of Administrator’s Liability Clause in Contracts

Administrator’s Liability. (a) In the absence of willful misfeasance, bad faith, reckless disregard or negligence of the obligations or duties hereunder on the part of the Administrator, the Administrator shall not be subject to liability to either Trust or any Series or to any shareholder of any Series 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 by a Series.

Administrator’s Liability. (a) In the absence of its fraud, gross negligence or willful misfeasance, bad faith, default or misconduct with respect to the performance of duties hereunder or its reckless disregard or negligence of the obligations or duties hereunder on the part of the Administratorhereunder, the Administrator shall not be subject to liability to either Trust or any Series the Company or to any shareholder Member of any Series the Company 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 by a Seriesthe Company.

Administrator’s Liability. (a) In the absence of willful misfeasance, bad faith, reckless disregard or negligence of the obligations or duties hereunder on the part of the Administrator, the Administrator shall not be subject to liability to either the Trust or any Series or to any shareholder of any Series 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 by a Series.