Common use of General Limitation on Liability Clause in Contracts

General Limitation on Liability. The Custodian shall have no liability for any indirect, incidental, consequential, punitive, special or speculative losses, damages, or expenses incurred by a Fund or Series even if Custodian has been advised of the possibility of same and regardless of the form of action. The Custodian shall not be liable for any loss that results from (i) the general risk of investing or (ii) the risk of investing or holding assets in a particular country, including, but not limited to, the country’s political environment, economic and financial infrastructure (including any Eligible Securities Depository operating in the country); prevailing or developing custody, tax and settlement practices; nationalization, expropriation or other government actions; currency restrictions, devaluations or fluctuations; market conditions affecting the orderly execution of securities transactions or the value of assets; the regulation of the banking and securities industries, including changes in market rules; and laws and regulations applicable to the safekeeping and recovery of foreign assets held in custody in that country. The Custodian shall not be liable for the insolvency of a Securities System or Eligible Securities Depository, nor shall the Custodian be liable for the insolvency of any Subcustodian that is not a branch or Affiliate of the Custodian unless the Custodian was negligent in the appointment of such Subcustodian. The Custodian also shall not be liable for any loss, damage, cost, expense, liability or claim resulting from, or caused by (i) acts, events or circumstances beyond the reasonable control of the Custodian, including, but not limited to, the interruption, suspension or restriction of trading on or the closure of any securities market or system, power or other mechanical or technological failures or interruptions, computer viruses or communications disruptions, work stoppages, natural disasters, acts of war, revolution, riots or terrorism or other similar force majeure events or acts; (ii) errors by the Fund, its investment adviser or any other duly authorized person in their Proper Instructions to the Custodian; (iii) the insolvency of or acts or omissions by a Securities System, Underlying Transfer Agent or Subcustodian selected by the Fund; (iv) the failure of a Fund, its investment adviser or any duly authorized person to adhere to the Custodian’s operational policies and procedures made known to the Fund or its investment adviser (by Client Publication or otherwise); (v)any delay or failure of any broker, agent or intermediary, central bank or other commercially prevalent payment or clearing system to deliver to a Subcustodian or the Custodian’s agent securities purchased or in the remittance or payment made in connection with securities sold; (vi) any delay or failure of any company, corporation, or other body in charge of registering or transferring securities in the name of the Custodian, the Fund, a Subcustodian, or the Custodian’s nominees or agents including non-receipt of bonus, dividends and rights and other accretions or benefits; (vii) delays or inability to perform its duties due to any disorder in market infrastructure with respect to any particular security or Securities System; and (viii) the effect of any provision of any law or regulation or order of the United States of America, or any state thereof, or any other country, or political subdivision thereof or of any court of competent jurisdiction .

General Limitation on Liability. The Custodian No party hereto shall have no liability be liable to another party for (i) any indirect, incidental, consequential, punitive, special or speculative losses, damages, liability or expenses incurred by a Fund or Series (together "Consequential Damages"), even if Custodian has they have been advised of the possibility of the same and regardless of the form of action. The Custodian shall not be liable for any loss that results , or (ii) losses resulting from (ia) the general risk of investing or (iib) the risk of investing or holding assets in a particular country; provided however, includingthat, but not limited tonotwithstanding the foregoing or any other provision in this Agreement to the contrary, if a Fund contains "plan assets" within the meaning of ERISA, the country’s political environmentCustodian shall be liable for Consequential Damages to the extent that a Board, economic Directing Fiduciary, Fund or Series would be liable under ERISA for the actions of the Custodian and/or its agents and financial infrastructure to the extent such Consequential Damages arise out of or relate to the fraud, willful default or willful misconduct of, or breach of the Standard of Care by, the Custodian or any of its agents (including any Eligible Securities Depository operating in Subcustodians). For sake of clarity, it is understood that a loss which arises out of or relates to the country); prevailing fraud, willful default or developing custodywillful misconduct of, tax and settlement practices; nationalization, expropriation or other government actions; currency restrictions, devaluations or fluctuations; market conditions affecting the orderly execution of securities transactions or the value of assets; the regulation breach of the banking and securities industriesStandard of Care by, the Custodian or any of its agents (including changes in market rules; and laws and regulations applicable to Subcustodians) is not a loss contemplated by (ii) of the safekeeping and recovery of foreign assets held in custody in that countryprior sentence. The Except as required by law, the Custodian shall not be liable for the insolvency of a Securities System or unaffiliated Eligible Securities Depository, Depository nor shall the Custodian be liable for the insolvency of any Subcustodian that is not a branch or Affiliate of the Custodian unless the Custodian was negligent has breached the Standard of Care in the appointment or monitoring of such Subcustodian. The Custodian also In the event any party hereto is unable to perform its obligations under the terms of this Agreement because of events beyond its reasonable control, such party shall not be liable for any loss, damage, cost, expense, liability or claim resulting from, or caused by (i) acts, events or circumstances beyond the reasonable control of the Custodian, including, but not limited to, the interruption, suspension or restriction of trading on or the closure of any securities market or system, power or other mechanical or technological failures or interruptions, computer viruses or communications disruptions, work stoppages, natural disasters, acts of war, revolution, riots or terrorism or other similar force majeure events or acts; (ii) errors by the Fund, its investment adviser or any other duly authorized person in their Proper Instructions damages to the Custodian; (iii) the insolvency of or acts or omissions by a Securities System, Underlying Transfer Agent or Subcustodian selected by the Fund; (iv) the other for any damages resulting from such failure of a Fund, its investment adviser or any duly authorized person to adhere to the Custodian’s operational policies and procedures made known to the Fund or its investment adviser (by Client Publication or otherwise); (v)any delay or failure of any broker, agent or intermediary, central bank or other commercially prevalent payment or clearing system to deliver to a Subcustodian or the Custodian’s agent securities purchased or in the remittance or payment made in connection with securities sold; (vi) any delay or failure of any company, corporation, or other body in charge of registering or transferring securities in the name of the Custodian, the Fund, a Subcustodian, or the Custodian’s nominees or agents including non-receipt of bonus, dividends and rights and other accretions or benefits; (vii) delays or inability to perform its duties due to any disorder in market infrastructure with respect to any particular security or Securities System; and (viii) during the effect period of any provision of any law or regulation or order of the United States of America, or any state thereof, or any other country, or political subdivision thereof or of any court of competent jurisdiction such events.