Liability of Advisor. The Advisor will not be liable in any way for any default, failure or defect in any of the securities comprising the Company’s portfolio if it has satisfied the duties and the standard of care, diligence and skill set forth in this Agreement. However, the Advisor shall be liable to the Company for any loss, damage, claim, cost, charge, expense or liability resulting from the Advisor’s willful misconduct, bad faith or gross negligence or disregard by the Advisor of the Advisor’s duties or standard of care, diligence and skill set forth in this Agreement or a material breach or default of the Advisor’s obligations under this Agreement.
Appears in 6 contracts
Samples: Investment Advisory Agreement (Tortoise Energy Independence Fund, Inc.), Investment Advisory Agreement (Tortoise Pipeline & Energy Fund, Inc.), Investment Advisory Agreement (Tortoise MLP Fund, Inc.)
Liability of Advisor. The Advisor will not be liable in any way for any default, failure or defect in any of the securities comprising the Company’s portfolio if it has satisfied the duties and the standard of care, diligence and skill set forth in this Agreement. However, the Advisor shall be liable to the Company for any loss, damage, claim, cost, charge, expense or liability resulting from the Advisor’s willful misconduct, bad faith or gross negligence or disregard by the Advisor of the Advisor’s duties or standard of care, diligence and skill set forth in this Agreement or a material breach or default of the Advisor’s 's obligations under this Agreement.
Appears in 4 contracts
Samples: Investment Advisory Agreement (Tortoise Power & Energy Infrastructure Fund Inc), Investment Advisory Agreement (Tortoise Power & Energy Infrastructure Fund Inc), Investment Advisory Agreement (Tortoise Power & Energy Infrastructure Fund Inc)
Liability of Advisor. The Advisor will not be liable in any way for any default, failure or defect in any of the securities comprising the CompanyFund’s portfolio if it has satisfied the duties and the standard of care, diligence and skill set forth in this Agreement. However, the Advisor shall be liable to the Company Fund for any loss, damage, claim, cost, charge, expense or liability resulting from the Advisor’s willful misconduct, bad faith or gross negligence or disregard by the Advisor of the Advisor’s duties or standard of care, diligence and skill set forth in this Agreement or a material breach or default of the Advisor’s 's obligations under this Agreement.
Appears in 3 contracts
Samples: Investment Advisory Agreement (Variant Alternative Income Fund), Investment Advisory Agreement (Variant Alternative Income Fund), Investment Advisory Agreement (Variant Alternative Income Fund)
Liability of Advisor. The Advisor will not be liable in any way for any default, failure or defect in any of the securities comprising the Company’s 's portfolio if it has satisfied the duties and the standard of care, diligence and skill set forth in this Agreement. However, the Advisor shall be liable to the Company for any loss, damage, claim, cost, charge, expense or liability resulting from the Advisor’s 's willful misconduct, bad faith or gross negligence or disregard by the Advisor of the Advisor’s 's duties or standard of care, diligence and skill set forth in this Agreement or a material breach or default of the Advisor’s 's obligations under this Agreement.
Appears in 2 contracts
Samples: Investment Advisory Agreement (Tortoise Total Return Fund, LLC), Investment Advisory Agreement (Tortoise Gas & Oil Corp)
Liability of Advisor. The Advisor will not be liable in any way for any default, failure or defect in any of the securities comprising the CompanyFund’s portfolio if it has satisfied the duties and the standard of care, diligence and skill set forth in this Agreement. However, the Advisor shall be liable to the Company Fund for any loss, damage, claim, cost, charge, expense or liability resulting from the Advisor’s willful misconduct, bad faith or gross negligence or disregard by the Advisor of the Advisor’s duties or standard of care, diligence and skill set forth in this Agreement or a material breach or default of the Advisor’s obligations under this Agreement.
Appears in 2 contracts
Samples: Investment Management Agreement (Variant Alternative Lending Fund), Investment Management Agreement (Variant Impact Fund)
Liability of Advisor. The Advisor will not be liable in any way for any default, failure or defect in any of the securities comprising the Company’s Fund's portfolio if it has satisfied the duties and the standard of care, diligence and skill set forth in this Agreement. However, the Advisor shall be liable to the Company Fund for any loss, damage, claim, cost, charge, expense or liability resulting from the Advisor’s 's willful misconduct, bad faith or gross negligence or disregard by the Advisor of the Advisor’s 's duties or standard of care, diligence and skill set forth in this Agreement or a material breach or default of the Advisor’s 's obligations under this Agreement.
Appears in 1 contract
