Common use of Limitation of Liability of Xxxxxxxx Xxxxxxxx Clause in Contracts

Limitation of Liability of Xxxxxxxx Xxxxxxxx. Xxxxxxxx Xxxxxxxx shall not be liable for any error of judgment or mistake of law or for any loss suffered by any Series or the Trust in connection with the matters to which this Contract relates except a loss resulting 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 Contract. Any person, even though also an officer, partner, employee, or agent of Xxxxxxxx Xxxxxxxx, who may be or become an officer, Trustee, employee or agent of the Trust shall be deemed, when rendering services to any Series or the Trust or acting with respect to any business of such Series or the Trust, to be rendering such service to or acting solely for the Series or the Trust and not as an officer, partner, employee, or agent or one under the control or direction of Xxxxxxxx Xxxxxxxx even though paid by it.

Appears in 3 contracts

Samples: Investment Advisory and Administration Contract (Painewebber Investment Series), Painewebber Managed Investments Trust, Painewebber Mutual Fund Trust

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Limitation of Liability of Xxxxxxxx Xxxxxxxx. Xxxxxxxx Xxxxxxxx shall not be liable for any error of judgment or mistake of law or for any loss suffered by any Series or the Trust in connection with the matters to which this Contract relates except a loss resulting 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 Contract. Any person, even though also an officer, partnerdirector, employee, or agent of Xxxxxxxx Xxxxxxxx, who may be or become an officer, Trustee, employee or agent of the Trust shall be deemed, when rendering services to any Series or the Trust or acting with respect to any business of such Series or the Trust, to be rendering such service to or acting solely for the Series or the Trust and not as an officer, partnerdirector, employee, or agent or one under the control or direction of Xxxxxxxx Xxxxxxxx even though paid by it.

Appears in 2 contracts

Samples: Investment Advisory and Administration Contract (Painewebber America Fund /Ny/), Investment Advisory and Administration Contract (Painewebber Olympus Fund/Ny)

Limitation of Liability of Xxxxxxxx Xxxxxxxx. Xxxxxxxx Xxxxxxxx shall -------------------------------------------- not be liable for any error of judgment or mistake of law or for any loss suffered by any Series or the Trust in connection with the matters to which this Contract relates except a loss resulting 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 Contract. Any person, even though also an officer, partner, employee, or agent of Xxxxxxxx Xxxxxxxx, who may be or become an officer, Trustee, employee or agent of the Trust shall be deemed, when rendering services to any Series or the Trust or acting with respect to any business of such Series or the Trust, to be rendering such service to or acting solely for the Series or the Trust and not as an officer, partner, employee, or agent or one under the control or direction of Xxxxxxxx Xxxxxxxx even though paid by it.

Appears in 1 contract

Samples: Painewebber Series Trust

Limitation of Liability of Xxxxxxxx Xxxxxxxx. Xxxxxxxx Xxxxxxxx shall not no be liable for any error of judgment or mistake of law or for any loss suffered by any Series or the Trust in connection with the matters to which this Contract relates except a loss resulting 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 Contract. Any person, even though also an officer, partnerdirector, employee, or agent of Xxxxxxxx Xxxxxxxx, who may be or become an officer, Trustee, employee or agent of the Trust shall be deemed, when rendering services to any Series or the Trust or acting with respect to any business of such Series or the Trust, to be rendering such service to or acting solely for the Series or the Trust and not as an officer, partnerdirector, employee, or agent or one under the control or direction of Xxxxxxxx Xxxxxxxx even though paid by it.

Appears in 1 contract

Samples: Investment Advisory and Administration Contract (Painewebber Managed Assets Trust)

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Limitation of Liability of Xxxxxxxx Xxxxxxxx. Xxxxxxxx Xxxxxxxx shall not be liable for any error of judgment or mistake of law or for any loss suffered by the any Series or the Trust in connection with the matters to which this Contract relates except a loss resulting 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 Contract. Any person, even though also an officer, partnerdirector, employee, or agent of Xxxxxxxx Xxxxxxxx, who may be or become an officer, Trusteetrustee, employee or agent of the Trust shall be deemed, when rendering services to any Series or the Trust or acting with respect to any business of such Series or the Trust, to be rendering such service to or acting solely for the Series or the Trust and not as an officer, partnerdirector, employee, or agent or one under the control or direction of Xxxxxxxx Xxxxxxxx even though paid by it.

Appears in 1 contract

Samples: Investment Advisory and Administration Contract (Painewebber Municipal Series /Ny/)

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