Common use of Liability of Covered Persons Clause in Contracts

Liability of Covered Persons. (a) The liability of each Covered Person is limited to its obligations under this Agreement. No Covered Person shall be liable to the Trust, any Investment Trust, the Trustee, the Settlor, any Holder or the Common Representative, and each of the Trust, any Investment Trust, the Trustee, the Settlor, any Holder and the Common Representative will release such Covered Person for any act or omission, including any mistake of fact or error in judgment, taken, suffered or made by such Covered Person in good faith and in the belief that such act or omission is in or is not contrary to the best interests of the Trust or any Investment Trust and is within the scope of authority granted to such Covered Person under the Trust Agreement, but only to the extent that such act or omission does not constitute Disabling Conduct by the Covered Person.