Common use of Indemnification of Manager Clause in Contracts

Indemnification of Manager. The Manager and its affiliates, subsidiaries and agents, and their directors, officers and employees and any other person who has undertaken or is about to undertake any action on behalf of any of the Funds (each a “Manager Indemnified Party”) shall from time to time be indemnified and saved harmless by that Fund from and against all legal fees, judgments and amounts paid in settlement, actually and reasonably incurred by it in connection with its services provided hereunder, provided that such Manager Indemnified Party shall not be indemnified by any of the Funds and their assets in respect of any liability, costs, charges or expenses that such Manager Indemnified Party sustained in or about any action, suit or other proceeding if the Manager Indemnified Party has failed to fulfill its standard of care or obligations as set forth in this Master Trust Agreement and the fees, judgments or amounts are incurred as a result of or in relation to that failure, unless in an action brought against such persons or companies they have achieved complete or substantial success as a defendant.