Common use of No liability for loss etc Clause in Contracts

No liability for loss etc. The Servicer is not liable: (a) for any loss, cost, liability or expense arising out of the exercise or non-exercise of a discretion by the Trustee or the Manager or the act or omission of the Trustee or the Manager except to the extent that it has arisen out of the Servicer's own fraud, negligence or default; or (b) for any loss, cost, liability or expense caused by its failure to check any information, document, form or list supplied or purported to be supplied to it by the Trustee or the Manager except to the extent that the loss is caused by the Servicer's own fraud, negligence or default. This exclusion does not apply in relation to the acts or omissions of the Manager for so long as the Servicer is a Related Body Corporate of the Manager.