Common use of Liability Of Voting Consultant Clause in Contracts

Liability Of Voting Consultant. In providing its voting recommendations on Voting Matters hereunder, the Voting Consultant will provide such recommendations in the Voting Consultant's best judgment as to the best interests of the Purchaser and its Affiliates as holders and beneficial owners of the Subject Shares with respect to the Voting Matters for the VRDP Shares; provided, however, the Voting Consultant shall not be liable for any action taken by such Voting Consultant or the Voting Consultant's agent, except for liability arising from the Voting Consultant's bad faith, wilful misconduct or gross negligence. For the avoidance of doubt, the Voting Consultant's maximum liability shall be limited to an amount not to exceed the total amounts of the fees the Voting Consultant receives from the Purchaser under the Subscription Agreement in any one year period for any and all claims made within that one year period; provided that if a breach of Section 5(e) is determined to have occurred, the sole remedy shall be the immediate removal of the Voting Consultant by the Purchaser in the Purchaser's sole discretion and no monetary damages shall be due or payable. In addition, the Voting Consultant shall not be liable for any action taken by the Trustee contrary to the recommendations provided by the Voting Consultant.

Appears in 2 contracts

Samples: Voting Trust Agreement (Blackrock Muniyield Pennsylvania Quality Fund), Voting Trust Agreement (Blackrock Muniyield Michigan Quality Fund, Inc.)

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Liability Of Voting Consultant. In providing its voting recommendations on Voting Matters hereunder, the Voting Consultant will provide such recommendations in the Voting Consultant's ’s best judgment as to the best interests of the Purchaser and its Affiliates as holders and beneficial owners of the Subject Shares with respect to the Voting Matters for the VRDP Shares; provided, however, the Voting Consultant shall not be liable for any action taken by such Voting Consultant or the Voting Consultant's ’s agent, except for liability arising from the Voting Consultant's ’s bad faith, wilful misconduct or gross negligence. For the avoidance of doubt, the Voting Consultant's ’s maximum liability shall be limited to an amount not to exceed the total amounts of the fees the Voting Consultant receives from the Purchaser under the Subscription Agreement in any one year period for any and all claims made within that one year period; provided that if a breach of Section 5(e) is determined to have occurred, the sole remedy shall be the immediate removal of the Voting Consultant by the Purchaser in the Purchaser's ’s sole discretion and no monetary damages shall be due or payable. In addition, the Voting Consultant shall not be liable for any action taken by the Trustee contrary to the recommendations provided by the Voting Consultant.

Appears in 1 contract

Samples: Voting Trust Agreement (Blackrock Muniyield New Jersey Fund, Inc.)

Liability Of Voting Consultant. In providing its voting recommendations on Voting Matters hereunder, the Voting Consultant will provide such recommendations in the Voting Consultant's ’s best judgment as to the best interests of the Purchaser and its Affiliates as holders and beneficial owners of the Subject Shares with respect to the Voting Matters for the VRDP VMTP Shares; provided, however, the Voting Consultant shall not be liable for any action taken by such Voting Consultant or the Voting Consultant's ’s agent, except for liability arising from the Voting Consultant's ’s bad faith, wilful misconduct or gross negligence. For the avoidance of doubt, the Voting Consultant's ’s maximum liability shall be limited to an amount not to exceed the total amounts of the fees the Voting Consultant receives from the Purchaser under the Subscription Agreement in any one year period for any and all claims made within that one year period; provided that if a breach of Section 5(e) is determined to have occurred, the sole remedy shall be the immediate removal of the Voting Consultant by the Purchaser in the Purchaser's ’s sole discretion and no monetary damages shall be due or payable. In addition, the Voting Consultant shall not be liable for any action taken by the Trustee contrary to the recommendations provided by the Voting Consultant.

Appears in 1 contract

Samples: Voting Trust Agreement (Invesco Van Kampen California Value Municipal Income Trust)

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Liability Of Voting Consultant. In providing its voting recommendations on Voting Matters hereunder, the Voting Consultant will provide such recommendations in the Voting Consultant's ’s best judgment as to the best interests of the Purchaser and its Affiliates as holders and beneficial owners of the Subject Shares with respect to the Voting Matters for the VRDP Shares; provided, however, the Voting Consultant shall not be liable for any action taken by such Voting Consultant or the Voting Consultant's ’s agent, except for liability arising from the Voting Consultant's ’s bad faith, wilful misconduct or gross negligence. For the avoidance of doubt, the Voting Consultant's ’s maximum liability shall be limited to an amount not to exceed the total amounts of the fees the Voting Consultant receives from the Purchaser under the Subscription Agreement in any one year period for any and all claims made within that one year period; provided that if a breach of Section 5(e5(d) is determined to have occurred, the sole remedy shall be the immediate removal of the Voting Consultant by the Purchaser in the Purchaser's ’s sole discretion and no monetary damages shall be due or payable. In addition, the Voting Consultant shall not be liable for any action taken by the Trustee contrary to the recommendations provided by the Voting Consultant.

Appears in 1 contract

Samples: Voting Trust Agreement (Blackrock Muniyield New Jersey Fund, Inc.)

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