Common use of General Standard of Care Clause in Contracts

General Standard of Care. The Custodian shall exercise reasonable care and diligence in carrying out all of its duties and obligations under this Agreement, and shall be liable to the Fund for all Losses suffered or incurred by the Fund resulting from the failure of the Custodian to exercise such reasonable care and diligence. For purposes of this Agreement, “Losses” means any losses, damages and expenses. In no event shall the Custodian be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if the Custodian has been advised of the possibility of such damages. It is agreed that the Custodian shall have no duty to assess the risks inherent in the Fund's investments or to provide investment advice with respect to such investments and that the Fund as principal shall bear any risks attendant to particular investments such as failure of counterparty or issuer. Notwithstanding the foregoing, the Custodian shall perform such risk analysis and monitoring as are required under Rule 17f-7 of the 1940 Act.

General Standard of Care. The Custodian shall exercise reasonable care and diligence in carrying out all of its duties and obligations under this Agreement, and shall be liable to the Fund for all Losses suffered or incurred by the Fund resulting from the failure of the Custodian to exercise such reasonable care and diligence. For purposes of this Agreement, “Losses” means any losses, damages and expenses. In no event shall the Custodian be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if the Custodian has been advised of the possibility of such damages. It is agreed that the Custodian shall have no duty to assess the risks inherent in the Fund's ’s investments or to provide investment advice with respect to such investments and that the Fund as principal shall bear any risks attendant to particular investments such as failure of counterparty or issuer. Notwithstanding the foregoing, the Custodian shall perform such risk analysis and monitoring as are required under Rule 17f-7 of the 1940 Act.