Common use of LIABILITY OF THE DISTRIBUTOR Clause in Contracts

LIABILITY OF THE DISTRIBUTOR. The Distributor shall not be liable for any damages or loss suffered by the Guinness Funds in connection with the matters to which this Agreement relates, except for damages or loss resulting from willful misfeasance, reckless disregard, bad faith or gross negligence on the Distributor's part in the performance of its duties under this Agreement. Any person, even though also an officer, partner, employee or agent of the Distributor, or any of its affiliates, who may be or become an officer of the Guinness Funds, shall be deemed, when rendering services to or acting on any business of the Guinness Funds in any such capacity (other than services or business in connection with the Distributor's duties under this Agreement), to be rendering such services to or acting solely for the Guinness Funds and not as an officer, partner, employee or agent or one under the control or direction of the Distributor or any of its affiliates, even if paid by the Distributor or an affiliate thereof.

LIABILITY OF THE DISTRIBUTOR. The Distributor shall shall,not be liable for any damages or loss suffered by the Guinness Funds in connection with the matters to which this Agreement relates, except for damages or loss resulting from willful misfeasance, reckless disregard, bad faith or gross negligence on the Distributor's part in the performance of its duties under this Agreement. Any person, even though also an officer, partner, employee or agent of the Distributor, or any of its affiliates, who may be or become an officer of the Guinness Funds, shall be deemed, when rendering services to or acting on any business of the Guinness Funds in any such capacity (other than services or business in connection with the Distributor's duties under this Agreement), to be rendering such services to or acting solely for the Guinness Funds and not as an officer, partner, employee or agent or one under the control or direction of the Distributor or any of its affiliates, even if paid by the Distributor or an affiliate thereof.