NONLIABILITY OF SUB-ADVISER. (a) In the absence of willful misfeasance, bad faith or gross negligence on the part of the Sub-Adviser, or reckless disregard of its obligations and duties hereunder, the Sub-Adviser shall not be subject to any liability to the Fund or to any shareholder of the Fund, for any act or omission in the course of, or connected with, rendering services hereunder. (b) Failure by the Sub-Adviser to assure that the investment program for the Fund meets the diversification requirements of Section 817(h) of the Code, as required by Section 1 of this Agreement, shall constitute gross negligence per se under sub-paragraph 7(a) above.
Appears in 11 contracts
Samples: Investment Management Agreement (Lincoln Variable Insurance Products Trust), Sub Advisory Agreement (Lincoln Variable Insurance Products Trust), Sub Advisory Agreement (Lincoln Variable Insurance Products Trust)
NONLIABILITY OF SUB-ADVISER. (a) In the absence of willful misfeasance, bad faith or gross negligence on the part of the Sub-Adviser, or reckless disregard of its obligations and duties hereunder, the Sub-Adviser shall not be subject to any liability to the Fund or to any shareholder of the Fund, for any act or omission in the course of, or connected with, rendering services hereunder.
(b) Failure by the Sub-Adviser to assure that the investment program for the Fund meets the diversification requirements of Section 817(h) of the Code, as required by Section 1 Article 1(a) of this Agreement, shall constitute gross negligence per se under sub-paragraph 7(a8(a) just above.
Appears in 4 contracts
Samples: Sub Advisory Agreement (Lincoln National Aggressive Growth Fund Inc), Sub Advisory Agreement (Lincoln National Aggressive Growth Fund Inc), Sub Advisory Agreement (Lincoln National Aggressive Growth Fund Inc)
NONLIABILITY OF SUB-ADVISER. (a) In the absence of willful misfeasance, bad faith or gross negligence on the part of the Sub-Adviser, or reckless disregard of its obligations and duties hereunder, the Sub-Adviser shall not be subject to any liability to the Fund or to any shareholder of the Fund, for any act or omission in the course of, or connected with, rendering services hereunder.
(b) Failure by the Sub-Adviser to assure that the investment program for the Fund meets the diversification requirements of Section 817(h) of the Code, as required by Section 1 Article 1(a) of this Agreement, shall constitute gross cross negligence per se under sub-paragraph 7(a8(a) just above.
Appears in 1 contract
Samples: Sub Advisory Agreement (Lincoln National Global Asset Allocation Fund Inc)
