Anti-Money Laundering Program Services. BNY Mellon will perform one or more of the services described in subsections (1) through (7) of this Section 4(b) and the Fund agrees to pay the fees applicable to the service as set forth in the Fee Agreement (“AML Services”). In the event of any failure by BNY Mellon to provide any of the AML Services in accordance with its standard of care and not otherwise, BNY Mellon’s liability shall be limited to the lesser of (x) the actual direct money damages suffered by the affected Fund as a direct result of such failure or (y) the amount paid by the affected Fund for all of BNY Mellon’s services during the twelve (12) months immediately preceding the month in which the event giving rise to such liability occurred. Any action brought against BNY Mellon for claims relating to the AML Services must be brought within one year following the date on which such claim accrues.
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Samples: Administrative Services Agreement (Ironwood Multi-Strategy Fund LLC)
