Common use of LIMITATION OF LIABILITY OF ADVISER Clause in Contracts

LIMITATION OF LIABILITY OF ADVISER. In consideration of the Adviser's undertaking to render the services described in this Agreement, the Trust, on behalf of the Portfolio, agrees that the Adviser shall not be liable under this Agreement for any loss suffered by the Trust in connection with the performance of this Agreement, provided that nothing in this Agreement shall be deemed to protect or purport to protect the Adviser against any liability to the Trust or its shareholders to which the Adviser would otherwise be subject by reason of willful misfeasance, bad faith or negligence in the performance of its duties under this Agreement.

LIMITATION OF LIABILITY OF ADVISER. In consideration of the Adviser's undertaking to render the services described in this Agreement, the Trust, Trust on behalf of the PortfolioFunds, agrees that the Adviser shall not be liable under this Agreement for any loss suffered by the Trust Trust, the Funds or their shareholders, in connection with the performance of this Agreement, provided that nothing in this Agreement shall be deemed to protect or purport to protect the Adviser against any liability to the Trust Trust, the Funds or its their shareholders to which the Adviser would otherwise be subject by reason of willful misfeasance, bad faith or gross negligence in the performance of its duties under this Agreement.