Common use of Indemnification of the Fund and the Trustee Clause in Contracts

Indemnification of the Fund and the Trustee. Subject to limitations on liability of ECT contained in this Agreement, the Fund, the Trustee and any Person who is serving or shall have served as a director, officer or employee of the Trustee, and any respective heirs, legal representatives and successors of any of the foregoing (the “Fund Indemnitees”), shall be indemnified and saved harmless by ECT from and against all losses, claims, damages, liabilities, obligations, costs and expenses (including judgements, fines, penalties, amounts paid in settlement, and legal fees on a solicitor-client basis, including reasonable disbursements) of whatsoever kind or nature (collectively “Fund Claims”) incurred by, borne by or asserted against any of the Fund Indemnitees which arise from the fraud, wilful default or gross negligence of ECT in the performance of the Services, unless such Fund Claims arise from the fraud, wilful default or gross negligence on the part of any Fund Indemnitees, or are attributable to actions undertaken on the instructions of the Fund or the Trustee. The foregoing right of indemnification shall not be exclusive of any other rights to which the Fund Indemnitees may be entitled as a matter of law or equity or which may be lawfully granted to such Person.

Indemnification of the Fund and the Trustee. Subject to limitations on liability of ECT the Administrator contained in this Agreement, the Fund, the Trustee and any Person who is serving or shall have served as a director, officer or employee of the Trustee, and any respective heirs, legal representatives and successors of any of the foregoing (the “Fund Indemnitees”), shall be indemnified and saved harmless by ECT the Administrator from and against all losses, claims, damages, liabilities, obligations, costs and expenses (including judgements, fines, penalties, amounts paid in settlementsettlement (with the approval of the Administrator, acting reasonably) and legal fees on a solicitor-client basis, including reasonable disbursements) of whatsoever kind or nature (collectively “Fund Claims”) incurred by, borne by or asserted against any of the Fund Indemnitees and which arise from the fraud, wilful default or gross negligence of ECT the Administrator in the performance of the Administrative Services, unless such Fund Claims arise from the fraud, wilful default or gross negligence on the part of any a Fund IndemniteesIndemnitee, or are attributable to actions undertaken on the instructions of the Fund or the Trustee. The foregoing right of indemnification shall not be exclusive of any other rights to which the Fund Indemnitees may be entitled as a matter of law or equity or which may be lawfully granted to such Person.