Common use of Limitation of Liability of the Advisor Clause in Contracts

Limitation of Liability of the Advisor. The Advisor shall not be liable for any error of judgment or mistake of law or for any loss suffered by the Fund or any Members in connection with the matters to which this Agreement relates, except to the extent that such a loss results from willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement. Any person, even though also an officer, director, employee, or agent of the Advisor or its affiliates, who may be or become an officer, Director, employee or agent of the Fund, shall be deemed, when rendering services to the Fund or acting with respect to any business of the Fund, to be rendering such service to or acting solely for the Fund and not as an officer, director, employee, or agent or one under the control or direction of the Advisor even though compensated by it.

Limitation of Liability of the Advisor. The Advisor shall not be liable for any error of judgment or mistake of law or for any loss suffered by the Fund or any Members Portfolio in connection with the matters to which this Agreement relates, relates except to the extent that such a loss results resulting from the willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement. Any person, even though also an officer, directorpartner, employee, or agent of the Advisor or its affiliatesAdvisor, who may be or become an officer, Director, employee or agent of the Fund, Fund shall be deemed, when rendering services to the Fund or acting with respect to in any business of the Fund, to be rendering such service services to or acting solely for the Fund and not as an officer, directorpartner, employee, or agent or one under the control or direction of the Advisor even though compensated paid by it.

Limitation of Liability of the Advisor. The Advisor shall not be liable for any error of judgment or mistake of law or for any loss suffered by the Fund or any Members in connection with the matters to which this Agreement relates, except to the extent that such a loss results from willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement. Any person, even though also an officer, director, employee, or agent of the Advisor or its affiliates, who may be or become an officer, DirectorManager, employee or agent of the Fund, shall be deemed, when rendering services to the Fund or acting with respect to any business of the Fund, to be rendering such service to or acting solely for the Fund and not as an officer, director, employee, or agent or one under the control or direction of the Advisor even though compensated by it.

Limitation of Liability of the Advisor. The Advisor shall not be -------------------------------------- liable for any error of judgment or mistake of law or for any loss suffered by the Fund or any Members Portfolio in connection with the matters to which this Agreement relates, relate except to the extent that such a loss results resulting from the willful misfeasance, bad faith or gross negligence on its part in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement. Any person, even though also an officer, directorpartner, employee, or agent of the Advisor or its affiliatesAdvisor, who may be or become an officer, Directordirector, employee or agent of the Fund, Fund shall be deemed, when rendering services to the Fund or acting with respect to in any business of the Fund, to be rendering such service services to or acting solely for the Fund and not as an officer, directorpartner, employee, or agent or one under the control or direction of the Advisor even though compensated paid by it.