Common use of Performance of Service; Limitation of Liability Clause in Contracts

Performance of Service; Limitation of Liability. Firstar shall exercise reasonable care in the performance of its duties under the Agreement. The Fund agrees to reimburse and make Firstar whole for any loss or damages (including reasonable fees and expenses of legal counsel) arising out of or in connection with its actions under this Agreement so long as Firstar acts in good faith and is not negligent or guilty of any willful misconduct. Firstar shall not be liable or responsible for delays or errors occurring by reason of circumstances beyond its control, including acts of civil or military authority, natural or state emergencies, fire, mechanical breakdown, flood or catastrophe, act of God, insurrection, war, riots, or failure of transportation, communication, or power supply. In the event of a mechanical breakdown beyond its control, Firstar shall take all reasonable steps to minimize service interruptions for any period that such interruption continues beyond Firstar's control. Firstar will make every reasonable effort to restore any lost or damaged data and correct any errors resulting from such a breakdown at the expense of Firstar. Firstar agrees that it shall, at all times, have reasonable contingency plans with appropriate parties, making reasonable provisions for emergency use of electrical data processing equipment to the extent appropriate equipment is available. Representatives of the Fund shall be entitled to inspect Firstar's premises and operating capabilities at any time during regular business hours of Firstar, upon reasonable notice to Firstar. This indemnification includes any act, omission to act, or delay by Firstar in reliance upon, or in accordance with, any written or oral instruction it receives from any duly authorized officer of the Fund. Regardless of the above, Firstar reserves the right to reprocess and correct administrative errors at its own expense.

Appears in 4 contracts

Samples: Fund Administration Servicing Agreement (Prudent Bear Funds Inc), Fund Administration Servicing Agreement (Prudent Bear Funds Inc), Fund Administration Servicing Agreement (Leuthold Funds Inc)

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Performance of Service; Limitation of Liability. Firstar FTC shall exercise reasonable care in the performance of its duties under the Agreement. The Fund agrees to reimburse and make Firstar FTC whole for any loss or damages (including reasonable fees and expenses of legal counsel) arising out of or in connection with its actions under this Agreement so long as Firstar FTC acts in good faith and is not negligent or guilty of any willful misconduct. Firstar FTC shall not be liable or responsible for delays or errors occurring by reason of circumstances beyond its control, including acts of civil or military authority, natural or state emergencies, fire, mechanical breakdown, flood or catastrophe, act of God, insurrection, war, riots, or failure of transportation, communication, or power supply. In the event of a mechanical breakdown beyond its control, Firstar FTC shall take all reasonable steps to minimize service interruptions for any period that such interruption continues beyond FirstarFTC's control. Firstar FTC will make every reasonable effort to restore any lost or damaged data and correct any errors resulting from such a breakdown at the expense of FirstarFTC. Firstar FTC agrees that it shall, at all times, have reasonable contingency plans with appropriate parties, making reasonable provisions for emergency use of electrical data processing equipment to the extent appropriate equipment is available. Representatives of the Fund shall be entitled to inspect FirstarFTC's premises and operating capabilities at any time during regular business hours of FirstarFTC, upon reasonable notice to FirstarFTC. This indemnification includes any act, omission to act, or delay by Firstar FTC in reliance upon, or in accordance with, any written or oral instruction it receives from any duly authorized officer of the Fund. Regardless of the above, Firstar FTC reserves the right to reprocess and correct administrative errors at its own expense.

Appears in 2 contracts

Samples: Fund Administration Servicing Agreement (Jensen Portfolio Inc), Fund Administration Servicing Agreement (Prudent Bear Funds Inc)

Performance of Service; Limitation of Liability. Firstar FTC shall exercise reasonable care in the performance of its duties under the Agreement. The Fund agrees to reimburse and make Firstar FTC whole for any loss or damages (including reasonable fees and expenses of legal counsel) arising out of or in connection with its actions under this Agreement so long as Firstar FTC acts in good faith and is not negligent or guilty of any willful misconduct. Firstar FTC shall not be liable or responsible for delays or errors occurring by reason of circumstances beyond its control, including acts of civil or military authority, natural or state emergencies, fire, mechanical breakdown, flood or catastrophe, act of God, insurrection, war, riots, or failure of transportation, communication, or power supply. In the event of a mechanical breakdown beyond its control, Firstar FTC shall take all reasonable steps to minimize service interruptions for any period that such interruption continues beyond FirstarFTC's control. Firstar FTC will make every reasonable effort to restore any lost or damaged data and correct any errors resulting from such a breakdown at the expense of FirstarFTC. Firstar FTC agrees that it shall, at all times, have reasonable contingency plans with appropriate parties, making reasonable provisions provision for emergency use of electrical data processing equipment to the extent appropriate equipment is available. Representatives of the Fund shall be entitled to inspect FirstarFTC's premises and operating capabilities at any time during regular business hours of FirstarFTC, upon reasonable notice to FirstarFTC. This indemnification includes any act, omission ommission to act, or delay by Firstar FTC in reliance upon, or in accordance with, any written or oral instruction it receives from any duly authorized officer of the Fund. Regardless of the above, Firstar FTC reserves the right to reprocess and correct administrative errors at its own expense.

Appears in 1 contract

Samples: Fund Administration Servicing Agreement (Jefferson Fund Group Trust)

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Performance of Service; Limitation of Liability. Firstar FTC shall exercise reasonable care in the performance of its duties under the Agreement. The Fund agrees to reimburse and make Firstar FTC whole for any loss or damages (including reasonable fees and expenses of legal counsel) arising out of or in connection with its actions under this Agreement so long as Firstar FTC acts in good faith and is not negligent or guilty of any willful misconduct. Firstar FTC shall not be liable or responsible for delays or errors occurring by reason of circumstances beyond its control, including acts of civil or military authority, natural or state emergencies, fire, mechanical breakdown, flood or catastrophe, act of God, insurrection, war, riots, or failure of transportation, communication, or power supply. In the event of a mechanical breakdown beyond its control, Firstar FTC shall take all reasonable steps to minimize service interruptions for any period that such interruption continues beyond FirstarFTC's control. Firstar FTC will make every reasonable effort to restore any lost or damaged data and correct any errors resulting from such a breakdown at the expense of FirstarFTC. Firstar FTC agrees that it shall, at all times, have reasonable contingency plans with appropriate parties, making reasonable provisions for emergency use of electrical data processing equipment to the extent appropriate equipment is available. Representatives of the Fund shall be entitled to inspect FirstarFTC's premises and operating capabilities at any time during regular business hours of FirstarFTC, upon reasonable notice to FirstarFTC. This indemnification includes any act, omission to act, or delay by Firstar FTC in reliance upon, or in accordance with, any written or oral instruction it receives from any duly authorized officer of the Fund. Regardless of the above, Firstar FTC reserves the right to reprocess and correct administrative errors at its own expense.

Appears in 1 contract

Samples: Fund Administration Servicing Agreement (Lepercq Istel Trust)

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