Standard of Care/Limitations of Liability. (a) The Sub-Administrator shall exercise due care and diligence to ensure the accuracy of all services performed under this Agreement. Subject to the terms of this Section 12, the Sub-Administrator shall be liable to the Administrator and the Funds (or any person or entity claiming through the Administrator or the Funds) for damages only to the extent caused by the Sub-Administrator’s own intentional misconduct, bad faith or negligence with respect to its duties under this Agreement (“Standard of Care”).
Appears in 8 contracts
Samples: Sub Administration Agreement (PNC Alternative Strategies TEDI Fund LLC), Sub Administration Agreement (PNC Absolute Return TEDI Fund LLC), Sub Administration Agreement (PNC Absolute Return Fund LLC)
Standard of Care/Limitations of Liability. (a) The Sub-Administrator shall exercise due care and diligence to ensure the accuracy of all services performed under this Agreement. Subject to the terms of this Section 1210, the Sub-Administrator shall be liable to the Administrator and the Funds (or any person or entity claiming through the Administrator or the FundsAdministrator) for damages any loss, claim, suit, controversy, breach or damage of any nature whatsoever (including but not limited to those arising out of or related to this Agreement) and regardless of the form of action or legal theory (“Loss”) only to the extent caused by the Sub-Administrator’s own intentional misconduct, bad faith or negligence with respect to its duties under this Agreement (“Standard of Care”).
Appears in 2 contracts
Samples: Sub Administration Agreement (Jp Morgan Access Multi-Strategy Fund LLC), Sub Administration Agreement (J.P. Morgan Access Multi-Strategy Fund II)
