Common use of General Limitations on Liability Clause in Contracts

General Limitations on Liability. Bank shall not be liable for any loss, claim, damage or other liability to the extent arising from the following causes: (i) The failure of any third party (other than a Subcustodian designated by Bank as provided in Section 5.2 hereof) including: (a) any issuer of Financial Assets or Book-Entry Agent or other agent of an issuer; (b) any counterparty with respect to any Financial Assets, including any issuer of exchange-traded or other futures, option, derivative or commodities contract; (c) Investment Advisor, foreign custody manager or other agent of Customer (other than Bank); or (d) other third parties similarly beyond the control or choice of Bank. (ii) Bank may rely upon information received from issuers of Financial Assets or agents of such issuers, information received from Subcustodians and from other commercially reasonable sources such as commercial data bases and the like, but shall not be responsible for specific inaccuracies in such information, provided that Bank has relied upon such information in good faith, or for the failure of any commercially reasonable information provider. (iii) Action by Bank or a Subcustodian in accordance with an Instruction and the provisions of this Agreement, even when such action conflicts with, or is contrary to any provision of, Customer’s declaration of trust, certificate of incorporation or by-laws or other constitutive document, Applicable Law, or actions by the trustees, directors or shareholders of Customer. (iv) The limitations inherent in the rights, transferability or similar investment characteristics of a given Financial Asset of Customer; provided, however, that the exculpation from liability provided by clause (iv) of this sentence shall not apply to any damage, loss, expense or liability incurred by Customer with respect to an impairment of Customer’s rights in and/or the transferability and other characteristics of a Financial Asset which result from Bank’s negligence, willful misconduct or bad faith.

General Limitations on Liability. Bank shall not be liable for any loss, claim, damage or other liability to the extent arising from the following causes: (i) The failure of any third party (other than a Subcustodian designated by Bank as provided in Section 5.2 hereof) including: (a) any issuer of Financial Assets or Book-Entry Agent or other agent of an issuer; (b) any counterparty with respect to any Financial AssetsInvestment, including any issuer of exchange-traded or other futures, option, derivative or commodities contract; (c) Investment Advisor, foreign custody manager or other agent of Customer (other than Bank); or (d) other third parties similarly beyond the control or choice of Bank. (ii) Bank may rely upon information received from issuers of Financial Assets or agents of such issuers, information received from Subcustodians and from other commercially reasonable sources such as commercial data bases and the like, but shall not be responsible for specific inaccuracies in such information, provided that Bank has relied upon such information in good faith, or for the failure of any commercially reasonable information provider. (iii) Action by Bank or a Subcustodian in accordance with an Instruction and the provisions of this Agreement, even when such action conflicts with, or is contrary to any provision of, Customer’s 's declaration of trust, certificate of incorporation or by-laws or other constitutive document, Applicable Law, or actions by the trustees, directors or shareholders of Customer. (iv) The limitations inherent in the rights, transferability or similar investment characteristics of a given Financial Asset of Customer; provided, however, that the exculpation from liability provided by clause (iv) of this sentence shall not apply to any damage, loss, expense or liability incurred by Customer with respect to an impairment of Customer’s 's rights in and/or the transferability and other characteristics of a Financial Asset which result from Bank’s 's negligence, willful misconduct or bad faith.