Common use of Liability for Safekeeping Clause in Contracts

Liability for Safekeeping. 8.01 Custodian shall be responsible only for assets actually received by it hereunder. Custodian shall indemnify Principal for any loss of assets occasioned by the negligence or dishonesty of Custodian's officers and employees, or burglary, robbery, holdup, theft or mysterious disappearance, including any loss by damage or destruction. Custodian shall not be liable in any manner for loss occasioned by failure of Principal or its officers or employees to comply with this Agreement, by negligence or dishonesty of Principal or its officers or employees. Custodian will not be liable for any failure to take any action required to be taken under this Agreement in the event and to the extent that the taking of such action is prevented or delayed by war (whether declared or not and including existing wars), revolution, insurrection, riot, civil commotion, or act of God, accident, fire, explosion, stoppage of labor, strikes or other differences with employees, laws, regulations, orders or other acts of any governmental authority or any other cause whatever beyond its reasonable control. In the event that there is a loss of Securities, Custodian shall promptly replace the Securities or the value thereof, and the value of any loss of rights or privileges resulting from said loss of Securities. In the event that Custodian obtains entry in a clearing corporation or in the Federal Reserve book-entry system through an agent, Custodian shall agree with such agent that the agent shall be subject to the same liability for loss of Securities as Custodian. Custodian's responsibility for any asset shall be terminated upon compliance with Principal's instructions regarding withdrawal, in compliance with procedures established under this Agreement.

Liability for Safekeeping. 8.01 10.01 Custodian shall be responsible only for assets actually received by it hereunder. Custodian shall indemnify Principal for any loss of assets Securities occasioned by the negligence or dishonesty of the Custodian's officers and employees, or burglary, robbery, holdup, theft or mysterious disappearance, including any loss by damage or destruction. Custodian shall not be liable in any manner for loss occasioned by failure of Principal or its officers or employees to comply with this Agreement, by negligence or dishonesty of Principal or its officers or employees. Custodian will not be liable for any failure to take any action required to be taken under this the Agreement in the event and to the extent that the taking of such action is prevented or delayed by war (whether declared or not and including existing wars), revolution, insurrection, riot, civil commotion, or act of God, accident, fire, explosion, stoppage of labor, strikes or other differences with employees, laws, regulations, orders or other acts of any governmental authority or any other cause whatever beyond its reasonable control. In the event that there is a loss of Securities, Custodian shall promptly replace the Securities or the value thereof, and the value of any loss of rights or privileges resulting from said loss of Securities. In the event that Custodian obtains entry in a clearing corporation or in the Federal Reserve book-entry system through an agent, Custodian shall agree with such agent that the agent shall be subject to the same liability for loss of Securities as Custodian. Custodian's responsibility for any asset shall be terminated upon compliance with Principal's instructions regarding withdrawal, in compliance with procedures established under this Agreement.

Liability for Safekeeping. 8.01 Custodian shall be responsible only for assets actually received by it hereunder. Custodian shall indemnify Principal for any loss of assets loss, damage, cost, or expense suffered by it (i) occasioned by the negligence or dishonesty of Custodian's officers and employees, or burglary, robbery, holdup, theft theft, or mysterious disappearance, including any loss by damage or destruction, or (ii) the failure of Custodian to otherwise comply with the terms of this Agreement. Custodian shall not be liable in any manner for loss occasioned by failure of Principal or its officers or employees to comply with this Agreement, by negligence or dishonesty of Principal or its officers or employees. Custodian will not be liable for any failure to take any action required to be taken under this Agreement in the event and to the extent that the taking of such action is prevented or delayed by war (whether declared or not and including existing wars), revolution, insurrection, riot, civil commotion, or act of God, accident, fire, explosion, stoppage of labor, strikes or other differences with employees, laws, regulations, orders or other acts of any governmental authority or any other cause whatever beyond its reasonable control. In the event that there is a loss of Securities, Custodian shall promptly replace the Securities or the value thereof, and the value of any loss of rights or privileges resulting from said loss of Securities. In the event that Custodian obtains entry in a clearing corporation or in the Federal Reserve book-entry system through an agent, Custodian shall agree with such agent that the agent shall be subject to the same liability for loss of Securities as Custodian. Custodian's responsibility for any asset shall be terminated upon compliance with Principal's instructions regarding withdrawal, in compliance with procedures established under this Agreement.