Standard of Care/Limitations of Liability. (a) PFPC Trust 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. Subject to the terms of this Section 11 and Section 12, PFPC Trust shall be liable to a Fund (or any person or entity claiming through the Fund) and such Fund Indemnified Parties (as defined below) for damages only to the extent caused by PFPC Trust’s own willful misconduct, bad faith, negligence or reckless disregard of its duties under this Agreement (“Standard of Care”).
Appears in 3 contracts
Samples: Form of Custodian Services Agreement (Legg Mason Permal Global Active Strategies Fund), Form of Custodian Services Agreement (Legg Mason Permal Global Active Strategies TEI Fund), Custodian Services Agreement (Legg Mason Permal Global Active Strategies Master Fund)
Standard of Care/Limitations of Liability. (a) PFPC Trust 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. Subject to the terms of this Section 11 and Section 12, PFPC Trust shall be liable to a the Fund (or any person or entity claiming through the Fund) and such Fund Indemnified Parties (as defined below) for damages only to the extent caused by PFPC Trustby, or a result of, PFPC’s own willful misconduct, bad faith, negligence or reckless disregard of its duties under this Agreement (“Standard of Care”).
Appears in 3 contracts
Samples: And Investor Services Agreement (Legg Mason Permal Global Active Strategies TEI Fund), And Investor Services Agreement (Legg Mason Permal Global Active Strategies Fund), Administration and Accounting Services Agreement (Legg Mason Permal Global Active Strategies Master Fund)
Standard of Care/Limitations of Liability. (a) PFPC Trust 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. Subject to the terms of this Section 11 and Section 12SECTION 11, PFPC Trust shall be liable to a the Fund (or any person or entity claiming through the Fund) and such Fund Indemnified Parties (as defined below) for damages only to the extent caused by PFPC Trust’s 's own willful misconductmisfeasance, bad faith, gross negligence or reckless disregard of its duties and obligations under this Agreement (“Standard of "STANDARD OF Care”").
Appears in 1 contract
Standard of Care/Limitations of Liability. (a) PFPC Trust PNC 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. Subject to the terms of this Section 11 11, PNC and Section 12, PFPC Trust its affiliates shall be liable to a the Fund (or any person or entity claiming through the Fund) and such Fund Indemnified Parties (as defined below) for damages only to the extent caused by PFPC Trust’s PNC's own willful misconductmisfeasance, bad faith, gross negligence or reckless disregard of its duties and obligations under this Agreement (“Standard of Care”"STANDARD OF CARE").
Appears in 1 contract
Samples: Administration and Accounting Services Agreement (ACAP Strategic Fund)
