Common use of INVESTMENT RISKS NOT ASSUMED BY CUSTODIAN Clause in Contracts

INVESTMENT RISKS NOT ASSUMED BY CUSTODIAN. The Custodian shall have no liability in respect of any loss or damage suffered by the Fund, insofar as such loss or damage arises from commercial or other investment risks inherent in investing in capital markets or in holding securities in a particular jurisdiction or country including without limitation: (i) political, legal, economic, settlement and custody infrastructure, exchange rate and currency risks; (ii) investment and repatriation restrictions; (iii) the Fund's or Custodian's inability to protect and enforce any local legal rights including rights of title and beneficial ownership; (iv) corruption and crime in the local market; (v) unreliable information which emanates from the local market; (vi) volatility of banking and financial systems and infrastructure; (vii) bankruptcy and insolvency risks of any and all local banking agents, counterparties to cash and securities transactions or registrars or transfer agents; (viii) risk of issuer insolvency or default; and (ix) market conditions which prevent the orderly execution of transactions or the value of assets.

INVESTMENT RISKS NOT ASSUMED BY CUSTODIAN. The Custodian shall have no liability in respect of any loss loss, damage or damage expense suffered by the FundPortfolio, insofar as such loss loss, damage or damage expense arises from commercial or other investment risks inherent in investing in capital markets or in of holding securities in a particular jurisdiction or country including without limitation: (i) political, legal, economic, settlement and custody infrastructure, exchange rate and currency risks; (ii) investment and repatriation restrictions; (iii) the Fund's Portfolio’s or Custodian's ’s inability to protect and enforce any local legal rights including rights of title and beneficial ownership; (iv) corruption and crime in the local market; (v) unreliable information which emanates from the local market; (vi) volatility of banking and financial systems and infrastructure; (vii) bankruptcy and insolvency risks of any and all local banking agents, counterparties to cash and securities transactions or registrars or transfer agents; and (viii) risk of issuer insolvency or default; and (ix) market conditions which prevent the orderly execution of transactions or the value of assets.

INVESTMENT RISKS NOT ASSUMED BY CUSTODIAN. The Custodian shall have no liability in respect of any loss or damage suffered by the FundPortfolio, insofar as such loss or damage arises from commercial or other investment risks inherent in investing in capital markets or in holding securities in a particular jurisdiction or country including without limitation: (i) political, legal, economic, settlement and custody infrastructure, exchange rate and currency risks; (ii) investment and repatriation restrictions; (iii) the Fund's or Custodian's inability to protect and enforce any local legal rights including rights of title and beneficial ownership; (iv) corruption and crime in the local market; (v) unreliable information which emanates from the local market; (vi) volatility of banking and financial systems and infrastructure; (vii) bankruptcy and insolvency risks of any and all local banking agents, counterparties to cash and securities transactions or registrars or transfer agents; (viii) risk of issuer insolvency or default; and (ix) market conditions which prevent the orderly execution of transactions or the value of assets.