Common use of Custodian Limitation on Liability Clause in Contracts

Custodian Limitation on Liability. The Custodian’s duties shall be limited to those expressly stated under this agreement or as imposed by the Code or other applicable law. The Custodian acts in a non-discretionary capacity and has no fiduciary capacity or authority with respect to any matter involving the Plan or the Plan assets, including but not limited to 1) the appointment and retention of the Designated Representative or Financial Representative; 2) the selection and retention of Plan investments; and 3) the selection of Plan assets in order to make distributions from the Plan whether in cash or in kind. The Custodian shall not be liable for the acts or omissions of the Participant or his agent or of the sponsor of any investment. The Custodian shall not have any responsibility nor any liability for any loss of income or of capital, nor for any expense which the Custodian may incur, relating to any investment, or to the sale or exchange of any asset which the Participant or his authorized agent directs the Custodian to make. The Custodian will not act as an investment advisor to a Participant and shall not have any duty to question the Participant’s or his authorized agent’s directions regarding the purchase, retention or sale of any asset or appointment of agent. The Custodian shall not incur any liability by reason of any action taken or not taken by the Participant or his authorized agent resulting from the Custodian transmitting or not transmitting to the Participant or his authorized agent any information of any kind and from wherever derived concerning the authorized agent or concerning any investment. The Custodian shall not assume or incur any liability by reason of, or have any duty or responsibility to inquire into, or take action with respect to, any acts performed or not performed by the former Trustee/Custodian of any plan which has transferred all or any portion of its assets to the Custodian of this Account. The Custodian shall render no tax, legal investment or other advice (and no statement, communication or other act by the Custodian or any of its employees or agents shall be deemed to constitute or may be relied upon as any such advice) with respect to any investment or transaction involving the Account. The Custodian’s “custodial duties” are limited to receiving Participant’s funds or investment from Participant or their Designated Representative or Financial Representative, following Participant’s or their Designated Representative or Financial Representative’s reasonable written instructions and carrying out the ministerial duties set forth in this Custodial Agreement. The Custodian shall be authorized, and shall have the responsibility, only to follow the written instructions of the Participant and/or the Participant’s Designated Representative or Financial Representative or as expressly provided in this Custodial Agreement. Participant acknowledges that it is the Participant’s duty and responsibility to ensure that any documents relating to any investment are signed, recorded, genuine, legally enforceable and/or sufficient to give rise to a legal interest, including but not limited to title or a security interest. Participant acknowledges that the Custodian shall have no duty or responsibility to take such actions.

Custodian Limitation on Liability. The Custodian’s duties shall be limited to those expressly stated under this agreement or as imposed by the Code or other applicable appli- cable law. The Custodian acts in a non-discretionary nondiscretionary capacity and has no fiduciary capacity or authority with respect to any matter involving the Plan or the Plan assets, including but not limited to 1) the appointment and retention of the Designated Representative or Financial Representative; 2) the selection and retention of Plan investments; and 3) the selection selec- tion of Plan assets in order to make distributions from the Plan whether in cash or in kind. The Custodian not be shall not be liable for the acts or omissions of the Participant or his agent or of the sponsor spon- sor of any investment. The Custodian shall not have any responsibility respon- sibility nor any liability for any loss of income or of capital, nor for any expense which the Custodian may incur, relating to any investmentinvest- ment, or to the sale or exchange of any asset which the Participant or his authorized agent directs the Custodian to make. The Custodian Custo- dian will not act as an investment advisor to a Participant and shall not have any duty to question the Participant’s or his authorized agent’s directions regarding the purchase, retention or sale of any asset or appointment of agent. The Custodian shall not incur any liability by reason of any action taken or not taken by the Participant Partici- pant or his authorized agent resulting from the Custodian transmitting transmit- ting or not transmitting to the Participant or his authorized agent any information of any kind and from wherever derived concerning the authorized agent or concerning any investment. The Custodian shall not assume or incur any liability by reason of, or have any duty or responsibility to inquire into, or take action with respect to, any acts performed or not performed by the former Trustee/Custodian of any plan which has transferred all or any portion of its assets to the Custodian of this Account. The Custodian shall render no tax, legal investment or other advice (and no statement, communication communica- tion or other act by the Custodian or any of its employees or agents shall be deemed to constitute or may be relied upon as any such advice) with respect to any investment or transaction involving the Account. The Custodian’s “custodial duties” are limited to receiving Participant’s funds or investment from Participant or their Designated Representative or Financial Representative, following Participant’s or their Designated Representative or Financial Representative’s reasonable written instructions and carrying out the ministerial duties set forth in this Custodial Agreement. The Custodian shall be authorized, and shall have the responsibility, only to follow the written instructions of the Participant and/or the Participant’s Designated Representative or Financial Representative or as expressly provided in this Custodial Agreement. Participant acknowledges that it is the Participant’s duty and responsibility to ensure that any documents relating to any investment are signed, recorded, genuine, legally enforceable and/or sufficient to give rise to a legal interest, including but not limited to title or a security interest. Participant acknowledges that the Custodian shall have no duty or responsibility to take such actions.

Custodian Limitation on Liability. The Custodian’s duties shall be limited to those expressly stated under this agreement or as imposed by the Code or other applicable applica- ble law. The Custodian acts in a nondiscretionary capacity and has no fiduciary capacity or authority with respect to any matter involv- ing the Account or the Account assets, including but not acts in a non-discretionary capacity and has no fiduciary capacity or authority author- ity with respect to any matter involving the Plan or the Plan assets, including but not limited to 1) the appointment and retention of the Designated Representative or Financial Representative; 2) the selection and retention of Plan investments; and 3) the selection of Plan assets in order to make distributions from the Plan whether in cash or in kind. The Custodian Custo- dian shall not be liable for the acts or omissions of the Participant or his agent or of the sponsor of any investment. The Custodian shall not have any responsibility nor any liability for any loss of income or of capital, nor for any expense which the Custodian may incur, relating to any investment, or to the sale or exchange of any asset which the Participant or his authorized agent directs the Custodian to make. The Custodian will not act as an investment advisor to a Participant and shall not have any duty to question the ParticipantPartici- pant’s or his authorized agent’s directions regarding the purchase, retention or sale of any asset or appointment of agent. The Custodian Custo- dian shall not incur any liability by reason of any action taken or not taken by the Participant or his authorized agent resulting from the Custodian transmitting or not transmitting to the Participant or his authorized agent any information of any kind and from wherever wher- ever derived concerning the authorized agent or concerning any investment. The Custodian shall not assume or incur any liability by reason of, or have any duty or responsibility to inquire into, or take action with respect to, any acts performed or not performed by the former Trustee/Custodian of any plan which has transferred all or any portion of its assets to the Custodian of this Account. The Custodian shall render no tax, legal legal, investment or other advice (and no statement, communication or other act by the Custodian or any of its employees or agents shall be deemed to constitute or may be relied upon as any such advice) with respect to any investment invest- ment or transaction involving the Account. The CustodianPENSCO’s “custodial duties” are limited to receiving Participantthe Partici- pant’s funds or for investment from Participant or their Designated Representative or Financial Representative, following Participantthe Partici- pant’s, Designated Representative’s or their Designated Representative or Financial Representative’s reasonable written instructions and carrying out the ministerial duties set forth in this the Custodial Agreement. The Custodian PENSCO Trust shall be authorized, and shall have the responsibility, responsibility only to follow the written instructions of the Participant and/or the Participant’s Designated Desig- nated Representative or Financial Representative or as expressly provided in this Custodial Agreement. Participant acknowledges that it is the Participant’s duty and responsibility to ensure that any documents relating to any investment invest- ment are signed, recorded, genuine, legally enforceable and/or sufficient to give rise to a legal interest, including but not limited to title or a security interest. Participant acknowledges that the Custodian PENSCO shall have no duty or responsibility to take for such actions.

Custodian Limitation on Liability. The Custodian’s duties shall be limited to those expressly stated under this agreement or as imposed by the Code or other applicable appli- cable law. The Custodian acts in a nondiscretionary capacity and has no fiduciary capacity or authority with respect to any matter involving the Account or the Account assets, including but not acts in a non-discretionary capacity and has no fiduciary capacity or authority with respect to any matter involving the Plan or the Plan assets, including but not limited to 1) the appointment and retention reten- tion of the Designated Representative or Financial Representative; 2) the selection and retention reten- tion of Plan investments; and 3) the selection of Plan assets in order to make distributions from the Plan whether in cash or in kind. The Custodian shall not be liable for the acts or omissions of the Participant Responsible Individual or his agent or of the sponsor of any investmentinvest- ment. The Custodian shall not have any responsibility nor any liability liabil- ity for any loss of income or of capital, nor for any expense which the Custodian may incur, relating to any investment, or to the sale or exchange of any asset which the Participant Responsible Individual or his authorized agent directs the Custodian to make. The Custodian will not act as an investment advisor to a Participant Responsible Individual and shall not have any duty to question the ParticipantResponsible Individual’s or his authorized agent’s directions regarding the purchase, retention or sale of any asset or appointment of agent. The Custodian shall not incur any liability by reason of any action taken or not taken by the Participant Responsible Individual or his authorized agent resulting from the Custodian transmitting or not transmitting to the Participant Respon- sible Individual or his authorized agent any information of any kind and from wherever derived concerning the authorized agent or concerning any investment. The Custodian shall not assume or incur any liability by reason of, or have any duty or responsibility to inquire into, or take action with respect to, any acts performed or not performed by the former Trustee/Custodian of any plan which has transferred all or any portion of its assets to the Custodian of this Account. The Custodian shall render no tax, legal legal, investment or other advice (and no statement, communication or other act by the Custodian or any of its employees or agents shall be deemed to constitute or may be relied upon as any such advice) with respect to any investment invest- ment or transaction involving the Account. The CustodianXXXXXX’s “custodial duties” are limited to receiving Participantthe Deposi- tor’s funds or for investment from Participant Depositor or their Designated Representative or Financial Representativea Responsible Indi- vidual, following Participant’s or their Designated Representative or Financial Representative’s the reasonable written instructions and carrying out the ministerial duties set forth in this the Custodial Agreement. The Custodian PENSCO Trust shall be authorized, and shall have the responsibility, responsibil- ity only to follow the written instructions of the Participant and/or the Participant’s Designated Representative Depositor or Financial Representative or Respon- sible Individual, as expressly provided in this Custodial Agreement. Participant Depositor acknowledges that it is the ParticipantDepositor’s duty and responsibility respon- sibility to ensure that any documents relating to any investment are signed, recorded, genuine, legally enforceable and/or sufficient to give rise to a legal interest, including but not limited to title or a security interest. Participant Depositor acknowledges that the Custodian PENSCO shall have no duty or responsibility to take for such actions.