Common use of Responsibility of PFPC Clause in Contracts

Responsibility of PFPC. (a) PFPC shall be under no duty to take any action hereunder on behalf of the GE Fund Products except as specifically set forth herein or as may be specifically agreed to by PFPC and the GE Fund Products in a written amendment hereto. PFPC shall be obligated to exercise care and diligence in the performance of its duties hereunder and to act in good faith in performing services provided for under this Agreement. PFPC shall be liable only for any damages arising out of PFPC’s or its affiliates’ failure to perform its duties under this Agreement to the extent such damages arise out of PFPC’s or its affiliates’ errors made in the ordinary course of business, breach of this Agreement, willful misconduct, bad faith, negligence or reckless disregard of such duties.

Responsibility of PFPC. (a) PFPC shall be under no duty to take any action hereunder on behalf of the GE Company or the Fund Products or any Portfolio except as specifically set forth herein or as may be specifically agreed to by PFPC and the GE Fund Products Company in a written amendment hereto. PFPC shall be obligated to exercise care and diligence in the performance of its duties hereunder and to act in good faith in performing services provided for under this Agreement. PFPC shall be liable only for any damages arising out of PFPC’s 's performance of or its affiliates’ failure to perform its duties under this Agreement to the extent such damages arise out of PFPC’s or its affiliates’ errors made in the ordinary course of business, breach of this Agreement, 's willful misconductmisfeasance, bad faith, gross negligence or reckless disregard of such duties.