Common use of General Disclaimer of Liability Clause in Contracts

General Disclaimer of Liability. The Trustee shall not be liable to the Funds or to any Unitholder or annuitant for any loss or damage relating to any matter regarding the Funds, including any loss or diminution in the value of the Funds or its assets, except to the extent that such loss or damage results from a breach by the Trustee of its standard of care set out in Section 9.1. In no event shall the Trustee be liable for any consequential or special damages, including but not limited to loss of reputation, goodwill or business. Except to the extent that the Trustee has breached its standard of care as described in Section 9.1, without limitation, the Trustee, shall not be liable to any of the Funds or to any Unitholder for: (a) acting or failing to act or for acting pursuant to or in reliance on instructions of the Manager, any Investment Advisor, any Custodian (if not the Trustee), record keeper (if not the Trustee), registrar or transfer agent of the Funds (unless the same be the Trustee), or any person or organization whom it did not engage, appoint or employ and to whom its responsibilities are delegated as permitted hereunder; (b) any act or omission required or demanded by any governmental, taxing, regulatory or other competent authority in any country in which all or part of the Fund property is held or which has jurisdiction over the Trustee or the Manager; (c) the acts, omissions, receipts, neglects or defaults of any person, firm or corporation employed or engaged by it as permitted hereunder; (d) any loss, damage or expense caused to any of the Funds through the insufficiency or deficiency of any security in or upon which any of the monies of or belonging to any of the Funds shall be paid out or invested; (e) any loss or damage arising from the bankruptcy, insolvency or tortious act of any person, firm or corporation with whom or to which any monies or Fund property shall be lodged or deposited; (f) loss or damage of any nature whatsoever resulting from official action, war or threat of war, insurrection or civil disturbances, interruptions in postal, telephone, telegraph, telex or other electromechanical communication systems or power supply, the failure of any third party to fulfill its obligations under any agreement with the Fund or the Manager, or any other factor beyond the Trustee’s control which obstructs, affects, prohibits or delays the Trustee, its directors, officers, employees or agents in carrying out the responsibilities provided for herein, in whole or in part; (g) any other loss, damage or misfortune which may happen in the execution by the Trustee of its duties hereunder; (h) the proper application by any Unitholder of a Fund of any part of its interests in that Fund if payments are made in accordance with written directions of such Unitholder as herein provided; (i) the adequacy of any of the Funds to meet and discharge any and all payments and liabilities in respect of a Unitholder; (j) the compliance by any Unitholder with the rules under the Tax Act or any other Applicable Laws; (k) the authenticity of any physically held commodities (including without limitation, the amount, weight, purity, contents or any assaying thereof) including, but not limited to, precious metals, the validity of title to any Fund property which the Trustee did not arrange itself to have appropriately registered, or any liabilities, including but not limited to environmental liabilities, associated with any investment of a Fund in any interest in real property, including but not limited to mortgages; or (l) any Fund property which it does not hold or which is not directly controlled by it, its affiliates or its appointed agents (including subcustodians). Without limiting the generality of the foregoing, the Trustee shall be under no obligation to supervise and shall have no responsibility or liability whatsoever for any acts of omission or commission of any Custodian appointed by the Manager, whether acting in the capacity of custodian or prime broker or otherwise, unless such Custodian is RBC IST acting in its capacity as custodian or a sub-custodian appointed by RBC IST, and the Trustee shall not be liable for any loss or damage of any nature whatsoever sustained or incurred and however caused in respect of any Fund assets held by any such third party Custodian or its sub-custodians, if any. The Trustee shall be under no obligation to ensure that any third party Custodian so appointed (or its sub-custodians, if any) meets or follows the requirements of applicable securities laws.

General Disclaimer of Liability. (a) The Trustee shall not be liable to the Funds Trust or to any Unitholder or annuitant for any loss or damage relating to any matter regarding the FundsTrust, including any loss or diminution in the value Net Asset Value of the Funds Trust or its assetsto any particular asset of the Trust, except to the extent that such loss or damage results from a breach by the Trustee of does not meet its standard of care set out in Section 9.111.1 hereof. In no event shall the Trustee be liable for any indirect or consequential or special damagesdamages including, including but not limited to to, loss of reputation, goodwill good will or business. Except to the extent that the . (b) The Trustee has breached its standard of care as described in Section 9.1, without limitation, the Trustee, shall not be liable to any of the Funds Trust or to any Unitholder for: (a) acting or failing to act or for acting pursuant to or in reliance on instructions of the Manager, any Investment Advisor, any Custodian (if not the Trustee), record keeper (if not the Trustee), registrar or transfer agent of the Funds (unless the same be the Trustee), or any person or organization whom it did not engage, appoint or employ and to whom its responsibilities are delegated as permitted hereunder; (b) any act or omission required or demanded by any governmental, taxing, regulatory or other competent authority in any country in which all or part of the Fund property is held or which has jurisdiction over the Trustee or the Manager; (c) the acts, omissions, receipts, neglects or defaults of any personPerson, firm or corporation employed or engaged by it as permitted hereunder; (d) , or for joining in any receipt or act of conformity, or for any loss, damage or expense caused to any of the Funds Trust through the insufficiency or deficiency of any security in or upon which any of the monies of or belonging to any of the Funds Trust shall be paid out or invested; (e) , or for any loss or damage arising from the bankruptcy, insolvency or tortious act of any personPerson, firm or corporation with whom or to which any monies or Fund property Trust Property shall be lodged or deposited; (f) loss or damage of any nature whatsoever resulting from official action, war or threat of war, insurrection or civil disturbances, interruptions in postal, telephone, telegraph, telex or other electromechanical communication systems or power supply, the failure of any third party to fulfill its obligations under any agreement with the Fund or the Manager, or for any other factor beyond loss occasioned by error in judgment or oversight on the Trustee’s control which obstructs, affects, prohibits or delays part of the Trustee, its directors, officers, employees or agents in carrying out the responsibilities provided for herein, in whole or in part; (g) any other loss, damage or misfortune which may happen in the execution by the Trustee of its duties hereunder;, except to the extent that the Trustee does not meet its standard of care set out in Section 11.1 hereof. (hc) For greater certainty, the proper application by Trustee, in incurring any Unitholder of a Fund of debts, liabilities or obligations, or in taking or omitting any part of its interests other actions for or in that Fund if payments are made in accordance connection with written directions of such Unitholder as herein provided; (i) the adequacy of any affairs of the Funds Trust is, and will be conclusively deemed to meet be, acting for and discharge any and all payments and liabilities in respect of a Unitholder; (j) the compliance by any Unitholder with the rules under the Tax Act or any other Applicable Laws; (k) the authenticity of any physically held commodities (including without limitation, the amount, weight, purity, contents or any assaying thereof) including, but not limited to, precious metals, the validity of title to any Fund property which the Trustee did not arrange itself to have appropriately registered, or any liabilities, including but not limited to environmental liabilities, associated with any investment of a Fund in any interest in real property, including but not limited to mortgages; or (l) any Fund property which it does not hold or which is not directly controlled by it, its affiliates or its appointed agents (including subcustodians). Without limiting the generality on behalf of the foregoingTrust, the Trustee shall be under no obligation to supervise and shall have no responsibility or liability whatsoever for any acts of omission or commission of any Custodian appointed by the Manager, whether acting in the capacity of custodian or prime broker or otherwise, unless such Custodian is RBC IST acting not in its capacity as custodian or a sub-custodian appointed by RBC IST, and the Trustee shall not be liable for any loss or damage of any nature whatsoever sustained or incurred and however caused in respect of any Fund assets held by any such third party Custodian or its sub-custodians, if any. The Trustee shall be under no obligation to ensure that any third party Custodian so appointed (or its sub-custodians, if any) meets or follows the requirements of applicable securities lawsown personal capacity.

General Disclaimer of Liability. The Trustee shall not be liable to the Funds or to any Unitholder or annuitant for any loss or damage relating to any matter regarding the Funds, including any loss or diminution in the value of the Funds or its assets, except to the extent that such loss or damage results from a breach by the Trustee of its standard of care set out in Section 9.1. In no event shall the Trustee be liable for any consequential or special damages, including but not limited to loss of reputation, goodwill or business. Except to the extent that the Trustee has breached its standard of care as described in Section 9.1, without limitation, the Trustee, shall not be liable to any of the Funds or to any Unitholder for: (a) acting or failing to act or for acting pursuant to or in reliance on instructions of the Manager, any Investment Advisor, any the Custodian (if not the Trustee), record keeper (if not the Trustee), registrar or transfer agent of the Funds (unless the same be the Trustee), or any person or organization whom it did not engage, appoint or employ and to whom its responsibilities are delegated as permitted hereunder; (b) any act or omission required or demanded by any governmental, taxing, regulatory or other competent authority in any country in which all or part of the Fund property is held or which has jurisdiction over the Trustee or the Manager; (c) the acts, omissions, receipts, neglects or defaults of any person, firm or corporation employed or engaged by it as permitted hereunder; (d) any loss, damage or expense caused to any of the Funds through the insufficiency or deficiency of any security in or upon which any of the monies of or belonging to any of the Funds shall be paid out or invested; (e) any loss or damage arising from the bankruptcy, insolvency or tortious act of any person, firm or corporation with whom or to which any monies or Fund property shall be lodged or deposited; (f) loss or damage of any nature whatsoever resulting from official action, war or threat of war, insurrection or civil disturbances, interruptions in postal, telephone, telegraph, telex or other electromechanical communication systems or power supply, the failure of any third party to fulfill its obligations under any agreement with the Fund or the Manager, or any other factor beyond the Trustee’s control which obstructs, affects, prohibits or delays the Trustee, its directors, officers, employees or agents in carrying out the responsibilities provided for herein, in whole or in part; (g) any other loss, damage or misfortune which may happen in the execution by the Trustee of its duties hereunder; (h) the proper application by any Unitholder of a Fund of any part of its interests in that Fund if payments are made in accordance with written directions of such Unitholder as herein provided; (i) the adequacy of any of the Funds to meet and discharge any and all payments and liabilities in respect of a Unitholder; (j) the compliance by any Unitholder with the rules under the Tax Act or any other Applicable Laws; (k) the authenticity of any physically held commodities (including without limitation, the amount, weight, purity, contents or any assaying thereof) including, but not limited to, precious metals, the validity of title to any Fund property which the Trustee did not arrange itself to have appropriately registered, or any liabilities, including but not limited to environmental liabilities, associated with any investment of a Fund in any interest in real property, including but not limited to mortgages; or (l) any Fund property which it does not hold or which is not directly controlled by it, its affiliates or its appointed agents (including subcustodians). Without limiting the generality of the foregoing, the Trustee shall be under no obligation to supervise and shall have no responsibility or liability whatsoever for any acts of omission or commission of any Custodian appointed by the Manager, whether acting in the capacity of custodian or prime broker or otherwise, unless such Custodian is RBC IST Dexia acting in its capacity as custodian or a sub-custodian appointed by RBC ISTDexia, and the Trustee shall not be liable for any loss or damage of any nature whatsoever sustained or incurred and however caused in respect of any Fund assets held by any such third party Custodian or its sub-custodians, if any. The Trustee shall be under no obligation to ensure that any third party Custodian so appointed (or its sub-custodians, if any) meets or follows the requirements of applicable securities laws.