Degree of Care. Golden Pegasus shall employ the degree of care that would be exercised by a prudent manager in discharging obligations comparable to those undertaken by Golden Pegasus hereunder. Golden Pegasus Parties shall not be liable for any claim or loss arising from the performance of Golden Pegasus’s duties hereunder unless it is established by clear and convincing evidence that such degree of care was not employed, and Golden Pegasus Parties shall not be liable for, and are hereby released from, liability with respect to any such claim or loss to the extent that Golden Pegasus has obtained insurance which compensates or indemnifies the Company from such loss or injury. To the extent Golden Pegasus subcontracts or otherwise delegates its responsibilities hereunder to another person or entity, such person or entity shall be selected with reasonable care.
Appears in 12 contracts
Samples: Facilities Agreement (Awesome Again Racing Corp), Facilities Agreement (Ginger Punch Racing Corp), Facilities Agreement (Ghostzapper Racing Corp)
