Common use of Defaults or Insolvencies of Brokers, Banks, Etc Clause in Contracts

Defaults or Insolvencies of Brokers, Banks, Etc. The Custodian shall not be liable for any loss, damage or expense suffered or incurred by the Fund resulting from or occasioned by the actions, omissions, neglects, defaults or insolvency or other failure of any (i) issuer of any Securities or of any agent of such issuer; (ii) counterparty with respect to any Security or other Asset; (iii) investment manager or other agent of the Fund; (iv) bank, trust company or any other person with whom the Custodian may deal (other than any of such entities acting as a Subcustodian, Securities System or Securities Depository and Clearing Agency, for whose actions the liability of the Custodian is set out elsewhere in this Agreement), unless such loss, damage or expense is caused by, or results from, the negligence or willful misconduct of the Custodian.