Terms Relating to Liability. (a) BNYM shall be liable to the Fund (or any person or entity claiming through or for the Fund) for Loss the recovery of which is not otherwise excluded by another provision of this Agreement only to the extent the Loss is caused by the intentional misconduct, reckless disregard or negligence of BNYM (“Liable Conduct”). In the absence of a finding to the contrary, the acceptance, processing and/or negotiation of a fraudulent payment for the purchase of Shares shall be presumed not to have been Liable Conduct.
Appears in 2 contracts
Samples: Transfer Agency and Shareholder Services Agreement (Motley Fool Funds Trust), Transfer Agency and Shareholder Services Agreement (Motley Fool Funds Trust)
Terms Relating to Liability. (a) BNYM shall be liable to the Fund Client (or any person or entity claiming through or for the FundClient) for Loss loss, cost, expense and damages the recovery of which is not otherwise excluded by another provision of this Agreement only to the extent the Loss is caused by the intentional misconduct, reckless disregard or negligence of BNYM (“Liable Conduct”). In the absence of a finding to the contrary, the acceptance, processing and/or negotiation of a fraudulent payment for the purchase of Shares shall be presumed not to have been Liable Conduct.
Appears in 2 contracts
Samples: Draft Transfer Agency and Shareholder Services Agreement (Manning & Napier Fund, Inc /Ny/), Transfer Agency and Shareholder Services Agreement (Manning & Napier Fund, Inc /Ny/)
Terms Relating to Liability. (a) BNYM shall be liable to the Fund (or any person or entity claiming through or for the Fund) for Loss the recovery of which is not otherwise excluded by another provision of this Agreement only to the extent the Loss is caused by the bad faith, intentional misconduct, reckless disregard or negligence of BNYM (“Liable Conduct”). In the absence of a finding to the contrary, the acceptance, processing and/or negotiation of a fraudulent payment for the purchase of Shares shall be presumed not to have been Liable Conduct.
Appears in 1 contract
Samples: Shareholder Services Agreement (EGA Frontier Diversified Core Fund)
Terms Relating to Liability. (a) BNYM shall be liable to the Fund (or any person or entity claiming through or for the Fund) for Loss the recovery of which is not otherwise excluded by another provision of this Agreement only to the extent the Loss is caused by the intentional misconduct, reckless disregard or gross negligence of BNYM (“Liable Conduct”). In the absence of a finding to the contrary, the acceptance, processing and/or negotiation of a fraudulent payment for the purchase of Shares shall be presumed not to have been Liable Conduct.
Appears in 1 contract
Samples: Transfer Agency and Shareholder Services Agreement (Metropolitan West Funds)
