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

Limitation of Liability of the Subadviser. The Subadviser 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 Fund transactions for the Fund, except for 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 V, the term “Subadviser” shall include directors, officers and employees of the Subadviser as well as the entity itself. ACTITIVES OF THE SUBADVISER Except as otherwise provided below, the services of the Subadviser to the Adviser are not to be deemed to be exclusive, the Subadviser being free to render investment advisory and/or other services to other parties. It is understood that trustees, officers, employees and holders of interests of the Fund are or may become interested in the Subadviser, as directors, officers, employees, shareholders or otherwise and the directors, officers and employees of the Subadviser are or may become similarly interested in the Fund. Except as otherwise approved in writing by the Advisor, the Subadviser, Xxxx Xxxxxxx or other portfolio manager of the Fund (if any) and any of their respective affiliates will not serve, during the term of this Agreement, as an investment adviser, subadviser, Fund manager or in a similar capacity to any mutual fund which is not within the PROACTIVE Asset Allocation Funds family that has fund characteristics similar to that of the Fund, which fund characteristics are more particularly described in the draft of the Prospectus of the Fund included as part of Post-Effective Amendment No. 12 to the Fund’s registration statement on Form N-1A, a copy of which has been delivered to the Subadviser. The Subadviser shall cause its affiliates to agree in writing to the terms of the immediately preceding sentence.

Limitation of Liability of the Subadviser. The Subadviser 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 Fund transactions for the Fund, except for 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 V, the term “Subadviser” shall include directors, officers and employees of the Subadviser as well as the entity itself. ACTITIVES OF THE SUBADVISER Except as otherwise provided below, the services of the Subadviser to the Adviser are not to be deemed to be exclusive, the Subadviser being free to render investment advisory and/or other services to other parties. It is understood that trustees, officers, employees and holders of interests of the Fund are or may become interested in the Subadviser, as directors, officers, employees, shareholders or otherwise and the directors, officers and employees of the Subadviser are or may become similarly interested in the Fund. Except as otherwise approved in writing by the Advisor, the Subadviser, Xxxx Xxxxxxx or other portfolio manager of the Fund (if any) and any of their respective affiliates will not serve, during the term of this Agreement, as an investment adviser, subadviser, Fund manager or in a similar capacity to any mutual fund which is not within the PROACTIVE Asset Allocation Illington Funds family that has fund characteristics similar to that of the Fund, which fund characteristics are more particularly described in the draft of the Prospectus of the Fund included as part of Post-Effective Amendment No. 12 to the FundTrust’s registration statement on Form N-1A, a copy of which has been delivered to the Subadviser. The Subadviser shall cause its affiliates to agree in writing to the terms of the immediately preceding sentence.

Limitation of Liability of the Subadviser. The Subadviser 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 Fund transactions for the Fund, except for 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 V, the term “Subadviser” shall include directors, officers and employees of the Subadviser as well as the entity itself. ACTITIVES OF THE SUBADVISER Except as otherwise provided below, the services of the Subadviser to the Adviser are not to be deemed to be exclusive, the Subadviser being free to render investment advisory and/or other services to other parties. It is understood that trustees, officers, employees and holders of interests of the Fund are or may become interested in the Subadviser, as directors, officers, employees, shareholders or otherwise and the directors, officers and employees of the Subadviser are or may become similarly interested in the Fund. Except as otherwise approved in writing by the Advisor, the Subadviser, Xxxx Xxxxxxx X. Xxxxxxxxxxx or other portfolio manager of the Fund (if any) and any of their respective affiliates will not serve, during the term of this Agreement, as an investment adviser, subadviser, Fund manager or in a similar capacity to any mutual fund which is not within the PROACTIVE Asset Allocation Illington Funds family that has fund characteristics similar to that of the Fund, which fund characteristics are more particularly described in the draft of the Prospectus of the Fund included as part of Post-Effective Amendment No. 12 to the Fund’s registration statement on Form N-1A, a copy of which has been delivered to the Subadviser. The Subadviser shall cause its affiliates to agree in writing to the terms of the immediately preceding sentence.

Limitation of Liability of the Subadviser. The Subadviser 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 Fund transactions for the Fund, except for 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 V, the term “Subadviser” shall include directors, officers and employees of the Subadviser as well as the entity itself. ACTITIVES OF THE SUBADVISER Except as otherwise provided below, the services of the Subadviser to the Adviser are not to be deemed to be exclusive, the Subadviser being free to render investment advisory and/or other services to other parties. It is understood that trustees, officers, employees and holders of interests of the Fund are or may become interested in the Subadviser, as directors, officers, employees, shareholders or otherwise and the directors, officers and employees of the Subadviser are or may become similarly interested in the Fund. Except as otherwise approved in writing by the Advisor, the Subadviser, Xxxx Xxxxxxx X. Xxxxxxxxxxx or other portfolio manager of the Fund (if any) and any of their respective affiliates will not serve, during the term of this Agreement, as an investment adviser, subadviser, Fund manager or in a similar capacity to any mutual fund which is not within the PROACTIVE Asset Allocation Funds family that has fund characteristics similar to that of the Fund, which fund characteristics are more particularly described in the draft of the Prospectus of the Fund included as part of Post-Effective Amendment No. 12 to the Fund’s registration statement on Form N-1A, a copy of which has been delivered to the Subadviser. The Subadviser shall cause its affiliates to agree in writing to the terms of the immediately preceding sentence.