Common use of Assessment of Custody Risk Clause in Contracts

Assessment of Custody Risk. Principal and Custodian agree that, for purposes of this Paragraph 6, Custodian’s determination of appropriateness shall only include custody risk, and shall not include any evaluation of “country risk” or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; (ii) the country’s or market's financial infrastructure; (iii) the country’s or market's prevailing custody and settlement practices; (iv) risk of nationalization, expropriation or other governmental actions; (v) regulation of the banking or securities industries; (vi) currency controls, restrictions, devaluation or fluctuation; and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal and the Investment Manager.

Assessment of Custody Risk. Principal and Custodian agree that, for purposes of this Paragraph 6, Custodian’s determination of appropriateness shall only include custody risk, and shall not include any evaluation of “country risk” or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; , (ii) the country’s or market's financial infrastructure; , (iii) the country’s or market's prevailing custody and settlement practices; , (iv) risk of nationalization, expropriation or other governmental actions; , (v) regulation of the banking or securities industries; , (vi) currency controls, restrictions, devaluation or fluctuation; , and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal and the Investment Manager.

Assessment of Custody Risk. Principal Each Fund and Custodian agree that, for purposes of this Paragraph 6, Custodian’s determination of appropriateness shall only include custody risk, and shall not include any evaluation of “country risk” or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; (ii) the country’s or market's ’s financial infrastructure; (iii) the country’s or market's ’s prevailing custody and settlement practices; (iv) risk of nationalization, expropriation or other governmental actions; (v) regulation of the banking or securities industries; (vi) currency controls, restrictions, devaluation or fluctuation; and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal Each Fund and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal and the Investment Managersuch Fund.

Assessment of Custody Risk. Notwithstanding the foregoing sub-sections of this Paragraph 6, Principal and Custodian agree that, for purposes of this Paragraph 6, Custodian’s determination of appropriateness shall only include custody risk, and shall not include any evaluation of “country risk” or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; , (ii) the country’s or market's ’s financial infrastructure; , (iii) the country’s or market's ’s prevailing custody and settlement practices; , (iv) risk of nationalization, expropriation or other governmental actions; , (v) regulation of the banking or securities industries; , (vi) currency controls, restrictions, devaluation or fluctuation; , and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal and the Investment Manager.

Assessment of Custody Risk. Principal and Custodian agree that, for purposes of this Paragraph 6, Custodian’s 's determination of appropriateness shall only include custody risk, and shall not include any evaluation of “"country risk” " or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; , (ii) the country’s 's or market's financial infrastructure; , (iii) the country’s 's or market's prevailing custody and settlement practices; , (iv) risk of nationalization, expropriation or other governmental actions; , (v) regulation of the banking or securities industries; , (vi) currency controls, restrictions, devaluation or fluctuation; , and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal and the Investment Manager.

Assessment of Custody Risk. Principal and Custodian agree that, for purposes of this Paragraph 6, Custodian’s determination of appropriateness shall only include custody risk, and shall not include any evaluation of “country risk” or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; , (ii) the country’s or market's financial infrastructure; , (iii) the country’s or market's prevailing custody and settlement practices; , (iv) risk of nationalization, expropriation or other governmental actions; , (v) regulation of the banking or securities industries; , (vi) currency controls, restrictions, devaluation or fluctuation; , and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal and the Investment Manager.

Assessment of Custody Risk. Principal and Custodian agree that, for purposes of this Paragraph 6, Custodian’s determination of appropriateness shall only include custody risk, and shall not include any evaluation of “country risk” or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; (ii) the country’s or market's ’s financial infrastructure; (iii) the country’s or market's ’s prevailing custody and settlement practices; (iv) risk of nationalization, expropriation or other governmental actions; , (v) regulation of the banking or securities industries; (vi) currency controls, restrictions, devaluation or fluctuation; and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal and the Investment Manager.

Assessment of Custody Risk. Principal and Custodian agree that, for purposes of this Paragraph 6, Custodian’s determination of appropriateness shall only include custody risk, and shall not include any evaluation of “country risk” or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; (ii) the country’s or market's financial infrastructure; (iii) the country’s or market's prevailing custody and settlement practices; (iv) risk of nationalization, expropriation or other governmental actions; (v) regulation of the banking or securities industries; (vi) currency controls, restrictions, devaluation or fluctuation; and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal and the Investment Manager.

Assessment of Custody Risk. Principal and Custodian agree that, for purposes of this Paragraph 6, Custodian’s 's determination of appropriateness shall only include custody risk, and shall not include any evaluation of “"country risk” " or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; (ii) the country’s 's or market's financial infrastructure; (iii) the country’s 's or market's prevailing custody and settlement practices; (iv) risk of nationalization, expropriation or other governmental actions; (v) regulation of the banking or securities industries; (vi) currency controls, restrictions, devaluation or fluctuation; and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal and the Investment Manager.

Assessment of Custody Risk. Principal Trust and Custodian agree that, for purposes of this Paragraph 6, Custodian’s 's determination of appropriateness shall only include custody risk, and shall not include any evaluation of “"country risk” " or systemic risk associated with the investment or holding of assets in a particular country or market, including, but not limited to (i) the use of Compulsory Depositories; , (ii) the country’s 's or market's financial infrastructure; , (iii) the country’s 's or market's prevailing custody and settlement practices; , (iv) risk of nationalization, expropriation or other governmental actions; , (v) regulation of the banking or securities industries; , (vi) currency controls, restrictions, devaluation or fluctuation; , and (vii) country or market conditions which may affect the orderly execution of securities transactions or affect the value of the transactions. Principal Trust and Custodian further agree that the evaluation of any such country and systemic risks shall be solely the responsibility of Principal Trust and the Investment Manager.