Common use of General Standard of Care Clause in Contracts

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 56 contracts

Samples: Custody Agreement (Felicitas Private Markets Fund), Custody Agreement (Accordant ODCE Index Fund), Custody Agreement (Predex)

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General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence negligence, bad faith or willful misconduct of the Custodian or the Custodian’s reckless disregard of its duties under this Agreement; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 51 contracts

Samples: Custody Agreement (FT Vest Total Return Income Fund: Series A4), Custody Agreement (FT Vest Hedged Equity Income Fund: Series A4), Custody Agreement (Hamilton Lane Private Secondary Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the CustodianCustodian (notwithstanding language in Sections 2(a), 2(f), 6(f), and 6(g)); provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 15 contracts

Samples: Custody Agreement (Starboard Investment Trust), Custody Agreement (Starboard Investment Trust), Custody Agreement (Starboard Investment Trust)

General Standard of Care. The Without limiting the foregoing, the Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from a material breach of this Agreement or the fraud, negligence or willful misconduct of the Custodian; providedprovided , however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 14 contracts

Samples: Custody Agreement (NB Crossroads Private Markets Fund VII LP), Custody Agreement (NB Crossroads Private Markets Fund VI Advisory LP), Custody Agreement (NB Crossroads Private Markets Fund VI LP)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the negligence negligence, bad faith or willful misconduct of the Custodian or the Custodian’s reckless disregard of its duties under this Agreement; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 10 contracts

Samples: Custody Agreement (Meketa Infrastructure Fund), Custody Agreement (Alti Private Equity Access & Commitments Fund), Custody Agreement (StepStone Private Credit Income Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 5 contracts

Samples: Custody Agreement (Apollo Diversified Real Estate Fund), Custody Agreement (Arca U.S. Treasury Fund), Custody Agreement (Bluestone Community Development Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys' fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 5 contracts

Samples: Custody Agreement (Amana Mutual Funds Trust), Custody Agreement (Saturna Investment Trust), Custody Agreement (Palmer Square Opportunistic Income Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses (including reasonable attorneys’ fees) suffered or incurred by such the Fund resulting from the negligence material breach of this Agreement, gross negligence, bad faith, fraud or willful misconduct of the Custodian or its employees, or the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’s or its employeesfees or for special, indirect, consequential or punitive damages arising reckless disregard of its duties under or in connection with this Agreement.

Appears in 4 contracts

Samples: Custody Agreement (FS MVP Private Markets Fund), Custody Agreement (FS MVP Private Markets Fund), Custody Agreement (MVP Private Markets Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages damages, and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence gross negligence, bad faith, or willful misconduct of the Custodian or the Custodian’s reckless disregard of its duties under this Agreement; provided, however, provided however that in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential consequential, or punitive damages arising under or in connection with this Agreement.

Appears in 3 contracts

Samples: Custody Agreement (Versus Capital Infrastructure Income Fund), Custody Agreement (Versus Capital Multi-Manager Real Estate Income Fund LLC), Custody Agreement (Versus Capital Real Assets Fund LLC)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 2 contracts

Samples: Custody Agreement (RENN Fund, Inc.), Custody Agreement (ABS Global Equity Long/Short RIC)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the fraud, bad faith, negligence or willful misconduct misfeasance of the CustodianCustodian or the reckless disregard by the Custodian of its obligations and duties hereunder; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 2 contracts

Samples: Custody Agreement (FEG Directional Access TEI Fund LLC), Custody Agreement (Feg Absolute Access Tei Fund LLC)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages damages, and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence gross negligence, bad faith, or willful misconduct of Custodian or the Custodian’s reckless disregard of its duties under this agreement; provided, however, provided however that in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential consequential, or punitive damages arising under or in connection with this Agreement.

Appears in 2 contracts

Samples: Custody Agreement (Privacore PCAAM Alternative Income Fund), Custody Agreement (Privacore PCAAM Alternative Growth Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the CustodianCustodian (notwithstanding language in Sections 2(a), 2(f), 6(f), and 6(g)); provided, however, in no event shall the Custodian be liable for attorneys' fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 2 contracts

Samples: Custody Agreement (Prophecy Alpha Fund I), Custody Agreement (Vertical Capital Investors Trust)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Predex)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the negligence negligence, bad faith or willful misconduct of the Custodian or the Custodian; provided, however, in ’s reckless disregard of its duties under this Agreement. In no event shall the Custodian or the Fund be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Calamos Aksia Alternative Credit & Income Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the negligence negligence, bad faith or willful misconduct of the Custodian or the Custodian’s reckless disregard of its duties under this Agreement; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Carlyle AlpInvest Private Markets Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from a material breach of this Agreement, or the fraud, negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Monachil Credit Income Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund Company for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund the Company resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (CIM Real Assets & Credit Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses (including reasonable attorneys’ fees) suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (PSP Family of Funds)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund attributable to the Custodian's failure to comply with the tenns of this Agreement or resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys' fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (FlowStone Opportunity Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from a material breach of this Agreement, or the fraud, negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Ares Private Markets Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the fraud, negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Fiera Capital Series Trust)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the fraud, negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Little Harbor MultiStrategy Composite Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder, except as otherwise provided in this Agreement. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian Custodian, the Fund, or the Manager be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Broadstone Real Estate Access Fund, Inc.)

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General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder, except that the Custodian will adhere to a higher standard of care as otherwise provided in this Agreement. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian or the Fund(s) be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Total Income (Plus) Real Estate Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder, except as otherwise provided in this Agreement. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian Custodian, the Fund, or the Manager be liable for attorneys’ attorney’s fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Broadstone Real Estate Access Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence negligence, bad faith or willful misconduct of the Custodian or the Custodian's reckless disregard of its duties under this Agreement; provided, however, in no event shall the Custodian be liable for attorneys' fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (CPG Carlyle Master Fund, LLC)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the negligence negligence, bad faith or willful misconduct of the Custodian or the Custodian’s reckless disregard of its duties under this Agreement; provided, however, in no event shall the Custodian or the Fund be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Stepstone Private Credit Fund LLC)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys' fees incurred by the Trust or for special, indirect, consequential or punitive damages incurred by the Trust arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Vericimetry Funds)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for unreasonable attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Eagle Point Institutional Income Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such the Fund resulting from the negligence negligence, bad faith, or willful misconduct of the Custodian or the Custodian’s reckless disregard of its duties under this Agreement; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Forum CRE Income Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards and act in good faith in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (ALPS Series Trust)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees incurred by the Trust or for special, indirect, consequential or punitive damages incurred by the Trust arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Vericimetry Funds)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages damages, and reasonable costs and expenses suffered or incurred by such Fund resulting from the gross negligence or willful misconduct of the Custodian; provided, however, provided however that in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential consequential, or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (MA Specialty Credit Income Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the bad faith, negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Community Development Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund attributable to the Custodian’s failure to comply with the terms of this Agreement or resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Cresset Private Markets Opportunity Fund)

General Standard of Care. The Custodian shall exercise due care care, prudence and diligence in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses expenses, including reasonable attorney's fees, suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.. (b)

Appears in 1 contract

Samples: Custody Agreement (Pear Tree Funds)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from the negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.. EXECUTION COPY

Appears in 1 contract

Samples: Custody Agreement (Wildermuth Endowment Strategy Fund)

General Standard of Care. The Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duties hereunder. The Custodian shall be liable to a the Fund for all losses, damages and reasonable costs and expenses suffered or incurred by such Fund resulting from a material breach of this Agreement, or the fraud, negligence or willful misconduct of the Custodian; provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under or in connection with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (NB Crossroads Private Markets Access Fund LLC)

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