Common use of Liability for Losses in Pension Fund Clause in Contracts

Liability for Losses in Pension Fund. The Trustees, individually or collectively, shall not be liable for the making, retention or sale of any investment or reinvestment made by them in accordance with this Agreement or in accordance with any other legal duties nor for any loss to or diminution of the Pension Fund, except a loss or diminution that resulted from a Trustee not acting in good faith or an action that was inconsistent with the Trustee’s fiduciary responsibilities under the PBSA and no individual Trustee shall incur any liability for any loss or diminution unless he or she was a party to the action that resulted in the loss or diminution.

Liability for Losses in Pension Fund. ‌ The Trustees, individually or collectively, shall not be liable for the making, retention or sale of any investment or reinvestment made by them in accordance with this Joint Trust Agreement or in accordance with any other legal duties nor for any loss to or diminution of the Pension Fund, except a loss or diminution that resulted from a Trustee Trustee’s not acting in good faith or an action that was inconsistent with the Trustee’s fiduciary responsibilities under the PBSA faith, and no individual Trustee shall incur any liability for any loss or diminution unless he or she was a party to the action that resulted in the loss or diminution.

Liability for Losses in Pension Fund. The Trustees, individually or collectively, shall not be liable for the making, retention or sale of any investment or reinvestment made by them in accordance with this Joint Trust Agreement or in accordance with any other legal duties nor for any loss to or diminution of the Pension Fund, except a loss or diminution that resulted from a Trustee Trustee’s not acting in good faith or an action that was inconsistent with the Trustee’s fiduciary responsibilities under the PBSA faith, and no individual Trustee shall incur any liability for any loss or diminution unless he or she the Trustee was a party to the action that resulted in the loss or diminution.

Liability for Losses in Pension Fund. ‌ The Trustees, individually or collectively, shall not be liable for the making, retention or sale of any investment or reinvestment made by them in accordance with this Agreement or in accordance with any other legal duties nor for any loss to or diminution of the Pension Fund, except a loss or diminution that resulted from a Trustee Trustee’s not acting in good faith or an action that was inconsistent with the Trustee’s fiduciary responsibilities under the PBSA faith, and no individual Trustee shall incur any liability for any loss or diminution unless he or she was a party to the action that resulted in the loss or diminution.

Liability for Losses in Pension Fund. The Trustees, individually or collectively, shall not be liable for the making, retention or sale of any investment or reinvestment made by them in accordance with this Joint Trust Agreement or in accordance with any other legal duties nor for any loss to or diminution of the Pension Fund, except a loss or diminution that resulted from a Trustee not acting in good faith or an action that was inconsistent with the Trustee’s fiduciary responsibilities under the PBSA faith, and no individual Trustee shall incur any liability for any loss or diminution unless he or she the Trustee was a party to the action that resulted in the loss or diminution.