Common use of Trustee's Good Faith Action, Expert Advice Clause in Contracts

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. The exercise by the Trustees of their powers hereunder shall be binding upon everyone interested in or dealing with the Trust. The Trustees, officers, employees, and agents of the Trust shall not be liable for errors of judgment or mistakes of fact or law. Each Trustee, officer, employee, and agent of the Trust shall, in the performance of his or her duties, be under no liability and fully and completely justified and protected with regard to any act or any failure to act resulting from reliance in good faith upon the books of account or other records of the Trust, upon advice of counsel, or upon reports made to the Trust by any of its officers or employees or by any Investment Manager, the Principal Underwriters, any transfer agent, custodian, any shareholder servicing agent, selected dealers, accountants, appraisers or other experts or consultants selected with reasonable care by the Trustees, officers, employees, or agents of the Trust, regardless of whether such expert or consultant may also be a Trustee. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.

Trustee's Good Faith Action, Expert Advice. No Bond or Surety. NO BOND OR SURETY The exercise by the Trustees of their powers and discretions hereunder shall be binding upon everyone interested interested. A Trustee shall be liable only for his own willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in or dealing with the Trust. The Trustees, officers, employeesconduct of the office of Trustee, and agents of the Trust for nothing else, and shall not be liable for errors of judgment or mistakes of fact or law. Each Trustee, officer, employeeThe Trustees may take advice of counsel or other experts with respect to the meaning and operation of this Declaration of Trust and their duties as Trustees hereunder, and agent of the Trust shall, in the performance of his or her duties, shall be under no liability and fully and completely justified and protected with regard to for any act or any failure omission in accordance with such advice or for failing to act resulting from reliance follow such advice. In discharging their duties, the Trustees, when acting in good faith faith, shall be entitled to rely upon the books of account or other records of the Trust, Trust and upon advice of counsel, or upon written reports made to the Trust Trustees by any of its officers or employees or officer appointed by any Investment Manager, the Principal Underwritersthem, any transfer agent, custodian, any shareholder servicing agent, selected dealers, accountants, appraisers or other experts or consultants selected independent public accountant and (with reasonable care by respect to the Trustees, officers, employees, or agents subject matter of the Trustcontract involved) any officer, regardless partner or responsible employee of whether such expert or consultant may also be a Trusteeany other party to any contract entered into hereunder. The Trustees shall not be required to give any bond as such, nor any surety if a bond is required.