Limitation of Liability of Citibank. Citibank shall not be liable for any error of judgment or mistake of law or for any loss arising out of any investment or for any act or omission in the execution of securities transactions for the Fund, except for willful misfeasance, bad faith or gross negligence in the performance of its duties, or by reason of reckless disregard of its obligations and duties hereunder. As used in this Section 5, the term "Citibank" shall include directors, officers and employees of Citibank as well as Citibank itself.
Appears in 27 contracts
Samples: Management Agreement (Variable Annuity Portfolios), Management Agreement (Landmark Funds Ii), Management Agreement (Landmark Funds I)
Limitation of Liability of Citibank. Citibank shall not be liable for any error of judgment or mistake of law or for any loss arising out of any investment or for any act or omission in the execution of securities transactions for the FundPortfolio, except for willful misfeasance, bad faith or gross negligence in the performance of its duties, or by reason of reckless disregard of its obligations and duties hereunder. As used in this Section 5, the term "Citibank" shall include directors, officers and employees of Citibank as well as Citibank itself.
Appears in 11 contracts
Samples: Management Agreement (Landmark Funds I), Management Agreement (Asset Allocation Portfolios), Management Agreement (Equity Portfolio/Ny)
