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 Trust in connection with the matters to which this Agreement relate, including any act or omission connected with or arising out of any services rendered, or payments made pursuant to this Agreement, except by reason of a loss resulting from the willful misfeasance, bad faith or 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, partner, employee, or agent of the Advisor, who may be or become an trustee, officer, employee or agent of the Trust shall be deemed, when rendering services to the Trust or acting in any business of the Trust, to be rendering such services to or acting solely for the Trust and not as an officer, partner, employee, member, shareholder or agent or one under the control or direction of the Advisor even though paid by it.