LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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, options, or futures 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 "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 7 contracts
Samples: Management Agreement (Tt International Usa Feeder Trust), Management Agreement (Tt International Usa Feeder Trust), Management Agreement (Tt International Usa Feeder Trust)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures 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 5Article V, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 5 contracts
Samples: Management Agreement (Merrill Lynch Global Growth Fund Inc), Management Agreement (Merrill Lynch Real Estate Fund Inc), Management Agreement (Merrill Lynch Global Technology Fund Inc)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the Fund, except for (i) 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 , and (ii) to the extent specified in this Section 5, the term "Manager" shall include partners, officers and employees section 36(b) of the Manager as well as 1940 Act concerning loss resulting from a breach of fiduciary duty with respect to the Manager itself.receipt of compensation. ARTICLE V
Appears in 5 contracts
Samples: Management Agreement (Ultra Series Fund), Management Agreement (Ultra Series Fund), Management Agreement (Ultra Series Fund)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures 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 5Article IV, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 5 contracts
Samples: Management Agreement (Merrill Lynch Growth Fund for Investment & Retirement), Management Agreement (Merrill Lynch Fundamental Growth Fund Inc), Management Agreement (Merrill Lynch Fundamental Growth Fund Inc)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 and management of securities, options, or futures 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 5Article V, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 5 contracts
Samples: Management Agreement (Jakarta Growth Fund Inc), Management Agreement (Jakarta Growth Fund Inc), Management Agreement (Korea Equity Fund Inc)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the FundTrust and any Series, 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 5Article IV, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 4 contracts
Samples: Management Agreement (Quantitative Master Series Trust), Management Agreement (Quantitative Master Series Trust), Management Agreement (Quantitative Master Series Trust)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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, options, or futures 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 "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 4 contracts
Samples: Management Agreement (Tt International Usa Master Trust), Management Agreement (Tt International Usa Master Trust), Management Agreement (Tt International Usa Master Trust)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the a 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 5Article IV, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 4 contracts
Samples: Management Agreement (Hennessy Advisors Inc), Management Agreement (Hennessy Mutual Funds Inc), Management Agreement (O Shaughnessy Funds Inc)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the FundTrust, 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 5Article IV, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 3 contracts
Samples: Management Agreement (Master Focus Twenty Trust), Management Agreement (Master Focus Twenty Trust), Management Agreement (Master Premier Growth Trust)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 and management of securities, options, or futures 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 5Article V, the term "“Manager" ” shall include partnersany affiliates of the Manager performing services for the Fund contemplated hereby and directors, officers and employees of the Manager as well as the Manager that corporation itself.
Appears in 2 contracts
Samples: Management Agreement (Japan Smaller Capitalization Fund Inc), Management Agreement (Japan Smaller Capitalization Fund Inc)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the Trust and 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 5Article IV, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 2 contracts
Samples: Management Agreement (Merrill Lynch N Y Muni Bd Fd of M L Multi St Muni Ser Trust), Management Agreement (Merrill Lynch California Insured Municipal Bond Fund of Merr)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures 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 5Article IV, the term "Manager" shall include partnersany affiliates of the Manager performing services for the Fund contemplated hereby and directors, officers and employees of the Manager as well as the Manager itselfand such affiliates.
Appears in 1 contract
Samples: Management Agreement (Merrill Lynch Strategic Dividend Fund)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures 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 5Article IV, the term "Manager" shall include partnersany affiliates of the manager performing services for the Fund contemplated hereby and directors, officers and employees of the Manager as well as the Manager itselfand such affiliates.
Appears in 1 contract
Samples: Management Agreement (Merrill Lynch Fundamental Growth Fund Inc)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management, of securities, options, or futures 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 5Article IV, the term "Manager" shall include partnersany affiliates of the Manager performing services for the Fund contemplated hereby and directors, officers and employees of the Manager as well as the Manager itselfand such affiliates.
Appears in 1 contract
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 and management of securities, options, or futures 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 5Article V, the term "Manager" shall include partnersany affiliates of the Manager performing services for the Fund contemplated hereby and directors, officers and employees of the Manager as well as the Manager that corporation itself.
Appears in 1 contract
Samples: Management Agreement (Japan Smaller Capitalization Fund Inc)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the Fund, except for (a) 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 , and (b) to the extent specified in this Section 5, the term "Manager" shall include partners, officers and employees section 36(b) of the Manager as well as 1940 Act concerning loss resulting from a breach of fiduciary duty with respect to the Manager itselfreceipt of compensation.
Appears in 1 contract
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures 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 5Article IV, the term "“Manager" ” shall include partnersany affiliates of the Manager performing services for the Fund contemplated hereby and directors, officers and employees of the Manager as well as the Manager itselfand such affiliates.
Appears in 1 contract
Samples: Investment Advisory Agreement (Fpa Capital Fund Inc)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the FundCompany, 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 5Article V, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 1 contract
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the Fund, except for willful misfeasance, bad faith or gross negligence in the performance of perfor- nancx xx its duties, or by reason of reckless disregard of its obligations and duties hereunder. As used in this Section 5Article IV, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 1 contract
Samples: Management Agreement (Merrill Lynch Developing Capital Markets Fund Inc)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the FundTrust and the Portfolio, 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 5Article IV, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 1 contract
Samples: Management Agreement (Global Financial Services Master Trust)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the Trust and the Fund, except for willful misfeasance, bad faith or gross negligence in the performance of its duties, or by reason of reckless 9 disregard of its obligations and duties hereunder. As used in this Section 5Article IV, the term "Manager" shall include partners, officers and employees of the Manager as well as the Manager itself.
Appears in 1 contract
Samples: Management Agreement (Merrill Lynch California Bond Fund of Ml Calif Mun Series Tr)
LIMITATION OF LIABILITY OF THE MANAGER. The Manager 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 management of securities, options, or futures transactions for the FundTrust, 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 5Article IV, the term "Manager" shall include any affiliates of the Manager performing services for the Trust contemplated hereby and partners, directors, officers and employees of the Manager as well as the Manager itselfand such affiliates.
Appears in 1 contract
