Common use of No Protection Against Certain 1940 Act Liabilities Clause in Contracts

No Protection Against Certain 1940 Act Liabilities. Nothing contained in Sections 8.1, 8.2 or 8.3 hereof shall give rise to any right to indemnification or abatement of expenses, or protect any Trustee, officer, employee or agent of the Trust from any liability to the Trust or its Holders to which he or she would otherwise be subject, by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office. Nothing contained in Sections 8.1, 8.2 or 8.3 hereof or in any agreement of the character described in Section 4.1 or 4.2 hereof shall give rise to any right to indemnification or abatement of expenses, or protect any Investment Adviser to the Trust or any Series against any liability to the Trust or any Series to which he, she or it would otherwise be subject, by reason of willful misfeasance, bad faith or gross negligence in the performance of his, her or its duties to the Trust or Series, or by reason of his, her or its reckless disregard to his, her or its obligations and duties under the agreement pursuant to which he, she or it serves as Investment Adviser to the Trust or any Series.