Common use of GE Fund Product Responsibility Clause in Contracts

GE Fund Product Responsibility. The System is an information system only, designed to assist the GE Fund Products in performing their professional activities and is not intended to replace the professional skill and judgment of the GE Fund Products. The GE Fund Products shall be solely responsible for: (a) acts or omissions of the GE Fund Products in entering data into the System, including its accuracy and adequacy; (b) checking the correctness and accuracy of the System output and data; and (c) any use of or reliance upon the System output by GE Fund Products. Except for the Infringement Indemnification and as limited by applicable law, the GE Fund Products shall indemnify, defend and hold PFPC harmless from any losses, costs, damages, and liabilities, including without limitation, reasonable attorneys’ fees and court costs, relating to any claim by any third party arising from or related to the GE Fund Products’ use of the System or System output. Schedule 1 of Exhibit C SOFTWARE The License granted pursuant to this Agreement shall be for a maximum of concurrent user seats identified for each software product below.