Common use of General Standard of Care Clause in Contracts

General Standard of Care. The Custodian shall act in good faith and 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, bad faith or willful misconduct of the Custodian, or from reckless disregard by the Custodian of its obligations and duties under this Agreement or for a breach of the foregoing standard of care in this Section 6(a); provided, however, in no event shall the Custodian be liable for attorneys’ fees or for special, indirect, consequential or punitive damages arising under this Agreement.

Appears in 7 contracts

Samples: Custody Agreement (Corsair Opportunity Fund), Custody Agreement (Gottex Multi-Asset Endowment Master Fund), Custody Agreement (Gottex Multi-Alternatives Master Fund)

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General Standard of Care. The Custodian shall act in good faith and 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, bad faith or willful misconduct on the part of the Custodian, or from the Custodian’s reckless disregard by the Custodian of its obligations and duties under this Agreement or for a the Custodian’s breach of the foregoing standard terms of care in this Section 6(a)Agreement any contract between the Fund and 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 (Center Coast MLP & Infrastructure Fund), Custody Agreement (Center Coast MLP & Infrastructure Fund)

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General Standard of Care. The Custodian shall act in good faith and 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, bad faith or willful misconduct of the Custodian, or from the Custodian’s reckless disregard by the Custodian of its obligations and duties under this Agreement Agreement, or for a the Custodian’s breach of the foregoing standard terms of care in this Section 6(a)Agreement or any contract between the Fund and 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.. Exhibit (g)

Appears in 1 contract

Samples: Custody Agreement (Gottex Trust)

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