Common use of Domestic Subcustodians, Foreign Subcustodians and Agents Clause in Contracts

Domestic Subcustodians, Foreign Subcustodians and Agents. The Custodian shall be liable for the actions or omissions of any Domestic Subcustodian, Foreign Subcustodian or Agent (other than an agent appointed pursuant to section 4.2(b)) to the same extent as if such action or omission were performed by the Custodian itself pursuant to this Agreement. In the event of any Losses suffered or incurred by the Fund caused by or resulting from the actions or omissions of any Domestic Subcustodian, Foreign Subcustodian or Agent (other than an agent appointed pursuant to section 4.2(b)) for which the Custodian would be directly liable as if such actions or omissions were those of the Custodian, the Custodian shall promptly reimburse the Fund in the amount of any such Losses. The Fund acknowledges that in respect of certain countries and certain Foreign Subcustodians designated by the Custodian, from time to time, the Fund’s investment therein or therewith shall be subject to the additional condition that the Custodian actually recovers such loss or damage from the Foreign Subcustodians. Appendix D hereto is a current list of such countries designated by the Custodian, investment in which is subject to the foregoing additional condition. Such list may be updated from time to time by the Custodian. The Custodian shall notify the Fund (i) as soon as reasonably practicable in the event any country or Foreign Subcustodian in or with which the Fund maintains investments shall become subject to the aforementioned additional condition; and (ii) upon the opening of an account in a particular country or with a particular Foreign Subcustodian whether the Fund’s investment would be subject to the aforementioned additional condition.