Common use of Fiduciary Liability Clause in Contracts

Fiduciary Liability. To the best of PVAXX and its subsidiaries' knowledge, there have been no acts, failures to act, omissions or transactions involving a Statutory Plan or the assets thereof which could result in imposition on PVAXX or its subsidiaries (whether direct or indirect) of material damages or liability in actions brought under Section 502 or Sections 404 through 409 of ERISA.