Special Condition. With respect to Liability to the Fund or its shareholders, and subject to applicable state and federal law, the Board Member shall be indemnified pursuant to this Section 1 against any Liability unless such Liability arises by reason of the Board Member’s willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office as defined in such Section 17(h) of the Investment Company Act of 1940, as amended (“Disabling Conduct”).
Appears in 77 contracts
Sources: Administrative Services Agreement (American Funds Emerging Markets Bond Fund), Administrative Services Agreement (American Funds Multi-Sector Income Fund), Indemnification Agreement (Capital Group Fixed Income ETF Trust)
Special Condition. With respect to Liability to the Fund or its shareholders, and subject to applicable state and federal law, the Board Member shall be indemnified pursuant to this Section 1 against any Liability unless such Liability arises by reason of the Board Member’s 's willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office as defined in such Section 17(h) of the Investment Company Act of 1940, as amended (“"Disabling Conduct”").
Appears in 6 contracts
Sources: Indemnification Agreement (Cash Management Trust of America), Indemnification Agreement (Fundamental Investors Inc), Shareholder Services Agreement (Income Fund of America Inc)
Special Condition. With respect to Liability to the Fund Series or its shareholders, and subject to applicable state and federal law, the Board Member shall be indemnified pursuant to this Section 1 against any Liability unless such Liability arises by reason of the Board Member’s willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office as defined in such Section 17(h) of the Investment Company Act of 1940, as amended (“Disabling Conduct”).
Appears in 1 contract
Sources: Administrative Services Agreement (American Funds Target Date Retirement Series)
Special Condition. With respect to Liability to the Fund Trust or its shareholders, and subject to applicable state and federal law, the Board Member shall be indemnified pursuant to this Section 1 against any Liability unless such Liability arises by reason of the Board Member’s 's willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in the conduct of his or her office as defined in such Section 17(h) of the Investment Company Act of 1940, as amended (“"Disabling Conduct”").
Appears in 1 contract
Sources: Business Management Agreement (American Funds Tax Exempt Series I)