Liability of Covered Persons. Preferred and its affiliates and any officer, director, employee or agent of any of them (collectively, the “Covered Persons”) shall have no liability to the Company for any loss suffered by the Company which arises out of any action or inaction of such Covered Person in connection with the performance by Preferred of its obligations and duties under this agreement undertaken in good faith in the reasonable belief that such course of conduct was in the best interests of the Company and such course of conduct did not constitute negligence or misconduct of such Covered Person.
Appears in 6 contracts
Samples: Administrative Services Agreement (World Monitor Trust Ii Series D), Administrative Services Agreement (Futures Strategic Trust), Administrative Services Agreement (Diversified Futures Trust I)
