Common use of Review by Board Clause in Contracts

Review by Board. Notwithstanding anything to the contrary contained in this Agreement, neither the Board, the Investment Committee nor any Trustee shall be responsible or liable for any acts or omissions of any Investment Manager or be under any obligation to invest or otherwise manage any assets contained in an Investment Manager Account, except those assets over which it has specifically assumed investment management duties.

Review by Board. Notwithstanding anything to the contrary contained in this Agreement, neither the Board, Board nor the Investment Committee nor any Trustee Administrator shall be responsible or liable for any acts or omissions of any Investment Manager or be under any obligation to invest or otherwise manage any assets contained in an Investment Manager Account, except those assets over which it has specifically assumed investment management duties.