No Liability for Advice Clause Samples
The "No Liability for Advice" clause establishes that a party providing advice, such as a consultant or advisor, is not legally responsible for any losses or damages resulting from the recipient's reliance on that advice. In practice, this means that if the recipient acts on recommendations or guidance and suffers negative consequences, the advisor cannot be held liable for those outcomes. This clause is commonly used to protect professionals from legal claims related to the advice they give, ensuring that the risk of following such advice remains with the recipient and clarifying the limits of the advisor's responsibility.
POPULAR SAMPLE Copied 150 times
No Liability for Advice. The Administrator shall not be liable, answerable or accountable for any loss or damage resulting from the advice given to the Trustee by the Administrator or the exercise by the Administrator of a discretion or its refusal to exercise a discretion, provided that the Administrator acted in accordance with subsection 4.2(a) and the loss or damage suffered by the Trustee is not attributable to the Administrator’s gross negligence, wilful default, bad faith or fraud.
No Liability for Advice. The Consultant shall not be liable, answerable or accountable for any loss or damage resulting from the advice given by the Consultant or the exercise by the Consultant of a discretion or his refusal to exercise a discretion, provided that the Consultant has acted in a faithful, diligent and honest manner and has --- not acted with willful misfeasance, bad faith, gross negligence or recklessness and is not in breach of any of the Consultant's obligations hereunder.
No Liability for Advice. The Administrator shall not be liable, answerable or accountable to the Fund, the Fund Trustees, the Fund Unitholders, the Trust, the Trust Trustees, the Trust Unitholders, the Partnership, the General Partner or the Partners for any loss or damage resulting from, incidental to or relating to the provision of services hereunder by the Administrator, or the advice given to the Fund Trustees, the Trust Trustees or the General Partner by the Administrator, including any exercise or refusal to exercise a discretion, any mistake or error of judgment or any act or omission believed by the Administrator to be within the scope of authority conferred on it by this Agreement, unless such loss or damage resulted from the fraud, willful default or gross negligence of the Administrator in performing its obligations hereunder.
No Liability for Advice. The Administrator shall not be liable, answerable or accountable to the Fund, the Fund Trustees or any Unitholder, to the Trust, the Trust Trustees or any holder of Trust Units, for any loss or damage resulting from, incidental to or relating to the provision of services hereunder by the Administrator, including any exercise or refusal to exercise a discretion or its refusal to exercise a discretion, any mistake or error of judgment or any act or omission believed by the Administrator to be within the scope of authority conferred on it by this Agreement, unless such loss or damage resulted from the fraud, wilful default or gross negligence of the Administrator in performing its obligations hereunder.
No Liability for Advice. The Manager shall not be liable, answerable or accountable for any loss or damage resulting from the advice given by the Manager or the exercise by the Manager of its discretion or its refusal to exercise its discretion, provided that the Manager has acted in an honest manner and is not in breach of any of its obligations hereunder.
No Liability for Advice. 9 ARTICLE 7 - INDEMNIFICATION............................................. 9 7.01 Indemnification of the Administrator........................ 9 7.02 Indemnification of the Fund and the Trust................... 9 ARTICLE 8 - TERM........................................................ 9 8.01 Term........................................................ 9 8.02 Survival.................................................... 10
No Liability for Advice. The Advisor shall not be liable, answerable or accountable for any loss or damage resulting from the advice given by the Advisor or the exercise by the Advisor of a discretion or its refusal to exercise a discretion, provided that the Advisor has acted in a faithful, diligent and honest manner and is not in breach of any of its obligations hereunder.