Common use of Responsibility of the Administrator Clause in Contracts

Responsibility of the Administrator. (a) The Administrator shall be under no duty to take any action hereunder on behalf of the Fund or any Portfolio except as specifically set forth herein or as may be specifically agreed to by the Administrator and the Fund in a written amendment hereto. The Administrator 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. The Administrator shall be liable only for any damages arising out of the Administrator’s failure to perform its duties under this Agreement to the extent such damages arise out of the Administrator’s willful misfeasance, bad faith, gross negligence or reckless disregard of such duties.

Responsibility of the Administrator. (a) The Administrator shall be under no duty to take any action hereunder on behalf of the Fund or any Portfolio Series except as specifically set forth herein or as may be specifically agreed to by the Administrator and the Fund in a written amendment heretowriting. The Administrator shall be obligated to exercise care and diligence in the performance of its duties hereunder and hereunder, to act in good faith and to use its best efforts, within reasonable limits, in performing services provided for under this Agreement. The Administrator shall be liable only for any damages arising out of the Administrator’s 's failure to perform its duties under this Agreement to the extent such damages arise out of the Administrator’s 's willful misfeasance, bad faith, gross negligence or reckless disregard of such duties.