Common use of LIABILITY OF SUBADVISER Clause in Contracts

LIABILITY OF SUBADVISER. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties ("disabling conduct") hereunder on the part of Subadviser (and its officers, directors, agents, partners, employees, controlling persons, shareholders and any other person or entity affiliated with Subadviser ("associated persons")), Subadviser and its associated persons shall not be subject to liability to the Adviser or to any other person for any act or omission in the course of, or connected with, rendering services hereunder (including, without limitation, as a result of failure by Adviser, by any other affiliate of Anchor National Life Insurance Company ("ANLIC"), or by ANLIC, to comply with this Agreement or the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section or, as a result of any error of judgment or mistake of law or for any loss suffered by Advisor or any other person in connection with the matters to which this Agreement relates), except to the extent specified in Section 36(b) of the Investment Company Act of 1940 concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services. Adviser hereby indemnifies, defends and protects Subadviser and holds Subadviser and its associated persons harmless from and against any and all claims, demands, actions, losses, damages, liabilities, costs, charges, counsel fees and expenses of any nature ("Losses") arising out of (i) any inaccuracy or omission in any prospectus, registration statement, annual report or proxy statement or advertising or promotional material pertaining to the Portfolio ("Documents") to the extent such Document contains information not supplied to Adviser by Subadviser for inclusion in such Document, (ii) any breach of Adviser of any representation or agreement contained in this Subadvisory Agreement, (iii) any failure by Adviser, by any other affiliate of ANLIC, or by ANLIC, to comply with the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section, and (iv) any action taken or omitted to be taken by Subadviser pursuant to this Subadvisory Agreement, except to the extent such Losses result from Subadviser's breach of this Subadvisory Agreement or Subadviser's disabling conduct. Subadviser hereby indemnifies, defends and protects Adviser and holds Adviser harmless from and against any and all Losses arising out of Subadviser's disabling conduct.

LIABILITY OF SUBADVISER. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties ("disabling conduct") hereunder on the part of Subadviser (and its officers, directors, agents, partners, employees, controlling persons, shareholders and any other person or entity affiliated with Subadviser ("associated persons")), Subadviser and its associated persons shall not be subject to liability to the Adviser or to any other person for any act or omission in the course of, or connected with, rendering services hereunder (including, without limitation, as a result of failure by Adviser, by any other affiliate of Anchor National Life Insurance Company ("ANLIC"), or by ANLIC, to comply with this Agreement or the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section or, as a result of any error of judgment or mistake of law or for any loss suffered by Advisor or any other person in connection with the matters to which this Agreement relates), except to the extent specified in Section 36(b) of the Investment Company Act of 1940 concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services. Adviser hereby indemnifies, defends and protects Subadviser and holds Subadviser and its associated persons harmless from and against any and all claims, demands, actions, losses, damages, liabilities, costs, charges, counsel fees and expenses of any nature ("Losses") arising out of (i) any inaccuracy or omission in any prospectus, registration statement, annual report or proxy statement or advertising or promotional material pertaining to the Portfolio ("Documents") to the extent such Document contains information not supplied to Adviser by Subadviser for inclusion in such Document, (ii) any breach of Adviser of any representation or agreement contained in this Subadvisory Agreement, (iii) any failure by Adviser, by any other affiliate of ANLIC, or by ANLIC, to comply with the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section, and (iv) any action taken or omitted to be taken by Subadviser pursuant to this Subadvisory Agreement, except to the extent such Losses result from Subadviser's breach of this Subadvisory Agreement or Subadviser's disabling conduct. Subadviser hereby indemnifies, defends and protects Adviser and holds Adviser harmless from and against any and all Losses arising out of Subadviser's disabling conduct. The Subadviser shall not be liable to the Adviser for (i) any acts of the Adviser or any other subadviser to the Portfolio with respect to the portion of the assets of a Portfolio not managed by Subadviser and (ii) acts of the Subadviser which result from acts of the Adviser, including, but not limited to, a failure of the Adviser to provide accurate and current information with respect to any records maintained by Adviser or any other subadviser to a Portfolio, which records are not also maintained by or otherwise available to the Subadviser upon reasonable request. The Adviser agrees that Subadviser shall manage the portion of the assets of a Portfolio allocated to it as if it was a separate operating series and shall comply with subsections (a) and (b) of Section 1 of this Subadvisory Agreement (including, but not limited to, the investment objectives, policies and restrictions applicable to a Portfolio and qualifications of a Portfolio as a regulated investment company under the Code) with respect to the portion of assets of a Portfolio allocated to Subadviser. The Adviser shall indemnify the Indemnified Parties from any liability arising from the conduct of the Adviser and any other subadviser with respect to the portion of a Portfolio's assets not allocated to Subadviser.

LIABILITY OF SUBADVISER. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties ("disabling conduct") hereunder on the part of Subadviser (and its officers, directors, agents, partners, employees, controlling persons, shareholders and any other person or entity affiliated with Subadviser ("associated persons")), Subadviser and its associated persons shall not be subject to liability to the Adviser or to any other person for any act or omission in the course of, or connected with, rendering services hereunder (including, without limitation, as a result of failure by Adviser, by any other affiliate of Anchor National Life Insurance Company ("ANLIC"), or by ANLIC, to comply with this Agreement or the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section or, as a result of any error of judgment or mistake of law or for any loss suffered by Advisor or any other person in connection with the matters to which this Agreement relates), except to the extent specified in Section 36(b) of the Investment Company Act of 1940 concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services. Adviser hereby indemnifies, defends and protects Subadviser and holds Subadviser and its associated persons harmless from and against any and all claims, demands, actions, losses, damages, liabilities, costs, charges, counsel fees and expenses of any nature ("Losses") arising out of (i) any inaccuracy or omission in any prospectus, registration statement, annual report or proxy statement or advertising or promotional material pertaining to the Portfolio ("Documents") to the extent such Document contains information not supplied to Adviser by Subadviser for inclusion in such Document, (ii) any breach of Adviser of any representation or agreement contained in this Subadvisory Agreement, (iii) any failure by Adviser, by any other affiliate of ANLIC, or by ANLIC, to comply with the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section, and (iv) any action taken or omitted to be taken by Subadviser pursuant to this Subadvisory Agreement, except to the extent such Losses result from Subadviser's breach of this Subadvisory Agreement or Subadviser's disabling conduct. Subadviser hereby indemnifies, defends and protects Adviser and holds Adviser harmless from and against any and all Losses arising out of Subadviser's disabling conduct. The Subadviser shall not be liable to the Adviser for (i) any acts of the Adviser or any other subadviser to the Portfolio with respect to the portion of the assets of a Portfolio not managed by Subadviser and (ii) with respect to any records maintained by Adviser or any other subadviser to a Portfolio which records are not also maintained by or otherwise available to the Subadviser upon reasonable request, acts of the Subadviser which result from a failure of the Adviser to provide accurate and current information where Subadviser did not know or have reason to know such information was inaccurate or incorrect. The Adviser agrees that Subadviser shall manage the portion of the assets of a Portfolio allocated to it as if it was a separate operating series and shall comply with Section 1 of this Subadvisory Agreement (including, but not limited to, the investment objectives, policies and restrictions applicable to a Portfolio and qualifications of a Portfolio as a regulated investment company under the Internal Revenue Code of 1986, as amended) with respect to the portion of assets of a Portfolio allocated to Subadviser. The Adviser shall indemnify the Subadviser and its associated persons from any liability arising from the conduct of the Adviser and any other subadviser with respect to the portion of a Portfolio's assets not allocated to Subadviser.

LIABILITY OF SUBADVISER. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties ("disabling conduct") hereunder on the part of Subadviser (and its officers, directors, agents, partners, employees, controlling persons, shareholders and any other person or entity affiliated with Subadviser ("associated persons")), Subadviser and its associated persons shall not be subject to liability to the Adviser or to any other person for any act or omission in the course of, or connected with, rendering services hereunder (including, without limitation, as a result of failure by Adviser, by any other affiliate of Anchor National Life Insurance Company ("ANLIC"), or by ANLIC, to comply with this Agreement or the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section or, as a result of any error of judgment or mistake of law or for any loss suffered by Advisor or any other person in connection with the matters to which this Agreement relates), except to the extent specified in Section 36(b) of the Investment Company Act of 1940 concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services. Adviser hereby indemnifies, defends and protects Subadviser and holds Subadviser and its associated persons harmless from and against any and all claims, demands, actions, losses, damages, liabilities, costs, charges, counsel fees and expenses of any nature ("Losses") arising out of (i) any inaccuracy or omission in any prospectus, registration statement, annual report or proxy statement or advertising or promotional material pertaining to the Portfolio ("Documents") to the extent such Document contains information not supplied to Adviser by Subadviser for inclusion in such Document, (ii) any breach of Adviser of any representation or 11 agreement contained in this Subadvisory Agreement, (iii) any failure by Adviser, by any other affiliate of ANLIC, or by ANLIC, to comply with the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section, and (iv) any action taken or omitted to be taken by Subadviser pursuant to this Subadvisory Agreement, except to the extent such Losses result from Subadviser's breach of this Subadvisory Agreement or Subadviser's disabling conduct. Subadviser hereby indemnifies, defends and protects Adviser and holds Adviser harmless from and against any and all Losses arising out of Subadviser's disabling conduct.

LIABILITY OF SUBADVISER. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties ("disabling conduct") hereunder on the part of Subadviser (and its officers, directors, agents, partners, employees, controlling persons, shareholders and any other person or entity affiliated with Subadviser ("associated persons")), Subadviser and its associated persons shall not be subject to liability to the Adviser or to any other person for any act or omission in the course of, or connected with, rendering services hereunder (including, without limitation, as a result of failure by Adviser, by any other affiliate of Anchor National Life Insurance 4 Company ("ANLIC"), or by ANLIC, to comply with this Agreement or the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section or, as a result of any error of judgment or mistake of law or for any loss suffered by Advisor or any other person in connection with the matters to which this Agreement relates), except to the extent specified in Section 36(b) of the Investment Company Act of 1940 concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services. Adviser hereby indemnifies, defends and protects Subadviser and holds Subadviser and its associated persons harmless from and against any and all claims, demands, actions, losses, damages, liabilities, costs, charges, counsel fees and expenses of any nature ("Losses") arising out of (i) any inaccuracy or omission in any prospectus, registration statement, annual report or proxy statement or advertising or promotional material pertaining to the Portfolio ("Documents") to the extent such Document contains information not supplied to Adviser by Subadviser for inclusion in such Document, (ii) any breach of Adviser of any representation or agreement contained in this Subadvisory Agreement, (iii) any failure by Adviser, by any other affiliate of ANLIC, or by ANLIC, to comply with the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section, and (iv) any action taken or omitted to be taken by Subadviser pursuant to this Subadvisory Agreement, except to the extent such Losses result from Subadviser's breach of this Subadvisory Agreement or Subadviser's disabling conduct. Subadviser hereby indemnifies, defends and protects Adviser and holds Adviser harmless from and against any and all Losses arising out of Subadviser's disabling conduct.

LIABILITY OF SUBADVISER. In the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of obligations or duties ("disabling conduct") hereunder on the part of Subadviser (and its officers, directors, agents, partners, employees, controlling persons, shareholders and any other person or entity affiliated with Subadviser ("associated persons")), Subadviser and its associated persons shall not be subject to liability to the Adviser or to any other person for any act or omission in the course of, or connected with, rendering services hereunder (including, without limitation, as a result of failure by Adviser, by any other affiliate of Anchor National Life Insurance Company ("ANLIC"), or by ANLIC, to comply with this Agreement or the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section or, as a result of any error of judgment or mistake of law or for any loss suffered by Advisor or any other person in connection with the matters to which this Agreement relates), except to the extent specified in Section 36(b) of the Investment Company Act of 1940 concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation for services. Adviser hereby indemnifies, defends and protects Subadviser and holds Subadviser and its associated persons harmless from and against any and all claims, demands, actions, losses, damages, liabilities, costs, charges, counsel fees and expenses of any nature ("Losses") arising out of (i) any inaccuracy or omission in any prospectus, registration statement, annual report or proxy statement or advertising or promotional material pertaining to the Portfolio ("Documents") to the extent such Document contains information not supplied to Adviser by Subadviser for inclusion in such Document, (ii) any breach of Adviser of any representation or agreement contained in this Subadvisory Agreement, (iii) any failure by Adviser, by any other affiliate of ANLIC, or by ANLIC, to comply with the requirements of Section 10506 of the California Insurance Code and regulations duly adopted pursuant to such Section, and (iv) any action taken or omitted to be taken by Subadviser pursuant to this Subadvisory Agreement, except to the extent such Losses result from Subadviser's breach of this Subadvisory Agreement or Subadviser's disabling conduct. Subadviser hereby indemnifies, defends and protects Adviser and holds Adviser harmless from and against any and all Losses arising out of Subadviser's disabling conduct.