Common use of LIABILITY OF THE DISTRIBUTOR Clause in Contracts

LIABILITY OF THE DISTRIBUTOR. In the performance of its duties hereunder, GAM Services shall be obligated to exercise care and diligence and to act in good faith and to use its best efforts within reasonable limits to ensure the accuracy of all services performed under this Agreement, but GAM Services shall not be liable for any act or omission which does not constitute willful misfeasance, bad faith or gross negligence on the part of GAM Services or reckless disregard by GAM Services of its duties under this Agreement.