Liability of TIAA. TIAA shall not be liable for any error of judgment or mistake of law, or for any loss suffered by CREF in connection with the matters to which this Agreement relates, except loss resulting from willful misfeasance, bad faith or gross negligence on the part of TIAA in the performance of its obligations and duties or by reason of its reckless disregard of its obligations and duties under this Agreement. CREF shall not be liable for any error of judgment or mistake of law, or for any loss suffered by TIAA in connection with the matters to which this Agreement relates, except loss resulting from willful misfeasance, bad faith or gross negligence on the part of CREF in the performance of its obligations and duties or by reason of its reckless disregard of its obligations and duties under this Agreement. It is understood that trustees, officers, agents and members of CREF are or may become interested in TIAA as trustees, officers, agents, members, or otherwise, and that the trustees, officers, agents, and employees of TIAA may become similarly interested in CREF; and that the existence of any such dual interest shall not affect the validity of this Agreement or any transaction hereunder except as provided in the Charter, Constitution, or Bylaws of CREF and TIAA, respectively, or by the specific provisions of applicable law. TIAA, in conjunction with the Board, will develop service metrics where practicable for the performance of certain Administrative Services, as reasonably requested by the Board (the “Service Metrics”), based on considerations of quality service and reasonable cost, for review by the Board, and will report to the Board its performance under the Service Metrics annually and at such other times as the Board may reasonably request.
Liability of TIAA. TIAA makes no representation and assumes no liability as to the sufficiency of the annuity purchase fund for benefit payments under this contract. The liability of TIAA for the payment of benefit payments will be limited to the amounts of benefit purchase amounts withdrawn from the annuity purchase fund. TIAA will have no liability for the payment of any benefit payments prior to their purchase in accordance with the provisions of section 31. In withdrawing benefit purchase amounts from the annuity purchase fund, TIAA will be entitled to rely exclusively on the reports and other information furnished by the policyholder, without obligation or duty to inquire as to the accuracy or completeness of such reports and information, and will be fully protected in taking any actions under this contract solely on the basis of the reports and any other information furnished to TIAA by the policyholder. TIAA Group Annuity Contract
Liability of TIAA. TIAA will not be liable for any error of judgment or mistake of law or for any loss suffered by the Separate Account in connection with the matters to which this Agreement relates. Nothing herein contained shall be construed to protect TIAA against any liability resulting from the bad faith or negligence of TIAA in the performance of its obligations and duties or from reckless disregard of its obligations and duties under this Agreement or by virtue of violation of any applicable law.
Liability of TIAA. 65 Loans - No provision for...........................72 -------------------------------------------------------------------------------- Page 2 YOUR TIAA RETIREMENT SELECT CERTIFICATE --------------------------------------------------------------------------------
Liability of TIAA. Any action taken by TIAA in good faith before receiving written notice of a waiver of rights included in this certificate, or of revocation of such waiver, will not subject TIAA to liability because our acts were contrary to what was stated in such waiver or revocation.
Liability of TIAA. 63 - Number of....................................41 Loans - No provision for...........................70
