Common use of Loss Reimbursement Clause in Contracts

Loss Reimbursement. Subadviser shall reimburse the Account for any material error to the Fund’s net asset value caused by Subadviser’s breach of its standard of care, as set forth in the following sentence that is a direct cause of a delay in the accurate daily pricing of the Fund. In managing the Account, Subadviser shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. Under no circumstances shall the Subadviser be liable for any loss arising out of any act or omission taken by another subadviser, or any other third party, in respect of any portion of the Accounts assets not managed by the Subadviser pursuant to this Agreement.

Loss Reimbursement. Subadviser shall reimburse the Account for any material error to the Fund’s 's net asset value caused by Subadviser’s 's breach of its standard of care, as set forth in the following sentence that is a direct cause of a delay in the accurate daily pricing of the Fund. In managing the Account, Subadviser shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. Under no circumstances shall the Subadviser be liable for any loss arising out of any act or omission taken by another subadviser, or any other third party, in respect of any portion of the Accounts assets not managed by the Subadviser pursuant to this Agreement.