LIABILITY OF THE DISTRIBUTOR. In the performance of its duties hereunder, the Distributor shall be obligated to exercise care and diligence and to act in good faith and to use its best efforts within reasonable limits to insure the accuracy of all services performed under this Agreement, but the Distributor shall not be liable for any act or omission which does not constitute willful misfeasance, bad faith or gross negligence on the part of the Distributor or reckless disregard by the Distributor of its duties under this Agreement.
Appears in 15 contracts
Samples: Distribution Agreement (Wm Strategic Asset Management Portfolios), Distribution Agreement (Wm Trust I), Distribution Agreement (Wm Strategic Asset Management Portfolios)
LIABILITY OF THE DISTRIBUTOR. In the performance of its duties hereunder, the Distributor shall be obligated to exercise care and diligence and to act in good faith and to use its best efforts within reasonable limits to insure the accuracy of all services performed under this Agreement, but the Distributor shall not be liable for any act or omission which does not constitute willful misfeasance, bad faith or gross negligence on the part of the Distributor or reckless disregard by the Distributor of its duties under this Agreement provided that the Distributor shall be responsible for its own negligent failure to perform its duties under this Agreement.
Appears in 5 contracts
Samples: Distribution Agreement (Composite Tax Exempt Bond Fund Inc), Distribution Agreement (Composite United States Government Securities Inc), Distribution Agreement (Composite Income Fund Inc)
