Liability of Investment Manager. 6.1 Except to the extent that it may be the direct consequence of the Investment Managers own negligence, or wilful default, the Investment Manager will not be liable for any loss caused to the Investor by any error of judgement, by any reduction in the value of the Portfolio, or by any failure to increase or maintain the Portfolio’s value or to secure any particular level of income therefrom. 6.2 In the event of any failure, interruption or delay in the performance of the Investment Managers obligations resulting directly or indirectly from acts, events or circumstances not reasonably within the Investment Managers control, including but not limited to industrial disputes, acts or regulations of any governmental or supernational bodies or authorities, a flood, storm or other natural event, any war, hostilities or revolution, riot or civil disorder, and breakdown, failure or malfunction of any telecommunications or computer service or systems, the Investment Manager shall not be liable to the Investor or any other party or have any responsibility of any kind for any loss or damage thereby incurred or suffered. 7 Indemnity by the Investor 7.1 The Investor hereby indemnifies the Investment Manager from any expenses (including taxes other than taxes on its profits) which the Investment Manager may incur and against all actions, costs, claims, demands made by persons entitled or purporting to be entitled to the Portfolio or any part of it or which may be instituted against the Investment Manager arising out of any matter or thing which the Investment Manager may properly do or cause to be done under the terms of this Agreement provided that this indemnity shall not extend to any act or thing done by the Investment Manager negligently or because of the Investment Managers wilful default.
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Samples: Investment Management Agreement, Investment Management Agreement, Investment Management Agreement