Common use of Limitation of Liability of the Investment Adviser Clause in Contracts

Limitation of Liability of the Investment Adviser. The Investment Adviser 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 management of the Trust, except for (1) 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, and (2) to the extent specified in Section 36(b) of the 1940 Act concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation.

Limitation of Liability of the Investment Adviser. The Investment Adviser 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 management of the TrustFund, except for (1) willful misfeasance, bad faith or gross negligence in the performance of its duties duties, or by reason of reckless disregard of its obligations and duties hereunder. As used in this Article IV, and (2) to the extent specified in Section 36(b) term "Investment Adviser" shall include any affiliates of the 1940 Act concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation.Investment Adviser

Limitation of Liability of the Investment Adviser. The Investment Adviser 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 management of the TrustFund, except for (1) willful misfeasance, bad faith or gross negligence in the performance of its duties duties, or by reason of reckless disregard of its obligations and duties hereunder, and (2) to the extent specified . As used in Section 36(b) of the 1940 Act concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation.this

Limitation of Liability of the Investment Adviser. The Investment ------------------------------------------------- Adviser 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 suffered by the Trust in connection with the management of the Trustmatters to which this Agreement relates, except for (1) 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, and (2) to the extent specified in Section 36(b) of the 1940 Act concerning a loss resulting from a breach of fiduciary duty with respect to the receipt of compensationcompensation for services or a loss resulting from willful misfeasance, bad faith or gross negligence on the part of the Investment Adviser in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement.

Limitation of Liability of the Investment Adviser. The Investment Adviser 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 management of the Trust, except for (1a) 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, and (2b) to the extent specified in Section section 36(b) of the 1940 Act concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation.

Limitation of Liability of the Investment Adviser. The Investment Adviser 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 management of the Total Return Bond Master Portfolio of the Trust, except for (1) willful misfeasance, bad faith or gross negligence in the performance of its duties duties, or by reason of reckless disregard of its obligations and duties hereunder, and (2) to the extent specified in Section 36(b) of the 1940 Act concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation.its

Limitation of Liability of the Investment Adviser. The Investment Adviser 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 management of the Low Duration Master Portfolio of the Trust, except for (1) willful misfeasance, bad faith or gross negligence in the performance of its duties duties, or by reason of reckless disregard of its obligations and duties hereunder, and (2) to the extent specified in Section 36(b) of the 1940 Act concerning loss resulting from a breach of fiduciary duty with respect to the receipt of compensation.obligations

Limitation of Liability of the Investment Adviser. The Investment Adviser shall not be liable for any error of judgment judgment, or act or omission, or mistake of law or for any loss arising out of any investment or for any act or omission suffered by the Company in connection with the management of the Trustmatters to which this Agreement relates, except for (1) 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, and (2) to the extent specified in Section 36(b) of the 1940 Act concerning a loss resulting from a breach of fiduciary duty with respect to the receipt of compensationcompensation for services or a loss resulting from willful misfeasance, bad faith or gross negligence on the part of the Investment Adviser in the performance of its duties or from reckless disregard by it of its obligations and duties under this Agreement.