Common use of Liabilities of the Administrator Clause in Contracts

Liabilities of the Administrator. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of the Administrator, the Administrator shall not be liable to the Funds or to any beneficial holder of the Funds for any act or omission in the course of, or in connection with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security, including without limitation for purposes determining such losses, brokerage expenses and expenses of holding or carrying a Fund's securities, including without limitation expenses of dividends on stock borrowed to cover a short sale or interest, fees or other charges incurred in connection with a Fund's leverage and related borrowings.

Liabilities of the Administrator. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of the Administrator, the Administrator shall not be liable to the Funds Trust, the Fund or to any beneficial holder of the Funds Fund’s shares for any act or omission in the course of, or in connection with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security, including without limitation for purposes determining such losses, brokerage expenses and expenses of holding or carrying a the Fund's ’s securities, including without limitation expenses of dividends on stock borrowed to cover a short sale or interest, fees or other charges incurred in connection with a Fund's ’s leverage and related borrowings.

Liabilities of the Administrator. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties hereunder on the part of the Administrator, the Administrator shall not be liable to the Funds or to any beneficial holder of the Funds for any act or omission in the course of, or in connection with, rendering services hereunder or for any losses that may be sustained in the purchase, holding or sale of any security, including without limitation for purposes determining such losses, brokerage expenses and expenses of holding or carrying a Fund's ’s securities, including without limitation expenses of dividends on stock borrowed to cover a short sale or interest, fees or other charges incurred in connection with a Fund's ’s leverage and related borrowings.