Common use of Adviser and Sub Clause in Contracts

Adviser and Sub. Adviser each agree to indemnify the other against any claim, loss or liability (including reasonable attorneys' fees) arising out of any action taken or not taken in the performance of its obligations under this which constitutes willful misfeasance, bad faith or gross negligence.

Adviser and Sub. Adviser each agree to indemnify the other against any third party claim, loss or liability (including reasonable attorneys' fees) arising out of any action taken or not taken in the performance of its respective obligations under this Agreement except for action or inaction which constitutes willful misfeasance, bad faith or gross negligence.