Common use of Liability for Agents Clause in Contracts

Liability for Agents. If the Trust Fund suffers a loss as a result of any act or omission of an Agent appointed by the Trustee, and if such loss is directly attributable to the failure of such Agent to comply with the standard of care specified by section 4.2.5 in the provision of any service to be provided by it with respect to this Agreement, or a breach of this Agreement, then the Trustee shall be liable for such loss, and shall indemnify the Trust Fund in accordance with section 4.6. The Trustee shall not otherwise be liable for any act or omission of any Agent appointed by the Trustee, including without limitation liability related to the insolvency of any Agent.

Liability for Agents. If the Trust Fund suffers a loss as a result of any act or omission of an Agent appointed by the Trustee, and if such loss is directly attributable to the failure of such Agent to comply with the standard of care specified by section 4.2.5 in the provision of any service to be provided by it with respect to this Agreement, or a breach of this Agreement, then the Trustee shall be liable for such loss, and shall indemnify the Trust Fund in accordance with section 4.6. For greater certainty, notwithstanding any other provision of this Agreement, the funds for such indemnification shall not be paid out of the Trust Fund. The Trustee shall not otherwise be liable for any act or omission of any Agent appointed by the Trustee, including without limitation liability related to the insolvency of any Agent.