Common use of Liability for Subcustodians Clause in Contracts

Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall be liable for the actions or omissions of any Subcustodian to the same extent as if such act or omission was performed by the Bank itself. In the event of any Losses suffered or incurred by a Customer caused by or resulting from the actions or omissions of any Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in the amount of any such Losses. Bank shall also be liable for losses that result from the insolvency of any Affiliated Subcustodian. (b) Subject to Section 5.1(a) and Bank’s duty to use reasonable care in the monitoring of a Subcustodian’s financial condition as reflected in its published financial statements and other publicly available financial information concerning it customarily reviewed by Bank in its oversight process, Bank will not be responsible for the insolvency of any Subcustodian which is not a branch or an Affiliated Subcustodian. (c) Bank reserves the right to add, replace or remove Subcustodians. Bank will give prompt notice of any such action, which will be advance notice if practicable. Upon request by Customer, Bank will identify the name, address and principal place of business of any Subcustodian and the name and address of the governmental agency or other regulatory authority that supervises or regulates such Subcustodian.

Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall be liable for the actions or omissions of any Subcustodian to the same extent as if such act or omission was performed by the Bank itself. In the event of any direct Losses suffered or incurred by a Customer caused by or resulting from the actions or omissions of any Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in the amount of any such direct Losses. Bank shall also be liable for losses direct Losses that result from the insolvency of any Affiliated Subcustodian. (b) . Subject to Section 5.1(a) and Bank’s duty to use reasonable care in the monitoring of a Subcustodian’s financial condition as reflected in its published financial statements and other publicly available financial information concerning it customarily reviewed by Bank in its oversight process, Bank will not be responsible for the insolvency of any Subcustodian which is not a branch or an Affiliated Subcustodian. (cb) Subject to compliance with Rule 17f-5 under the 1940 Act, Bank reserves the right to add, replace or remove Subcustodians. Bank will give prompt notice of any such action, which will be advance notice if practicable. Upon request by Customer, Bank will identify the name, address and principal place of business of any Subcustodian and the name and address of the governmental agency or other regulatory authority that supervises or regulates such Subcustodian.

Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall be liable for the actions or omissions of any Subcustodian anySubcustodian to the same extent as if such act or omission was performed by the Bank itself. In the event of any Losses suffered or incurred by a Customer caused by or resulting from the actions or omissions of any Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in Customerin the amount of any such Losses. Bank shall also be liable for losses that result from the insolvency of any Affiliated Subcustodian. (b) Subject to Section 5.1(a) and Bank’s 's duty to use reasonable care in the monitoring of a Subcustodian’s 's financial condition as reflected in its published financial statements and other publicly available financial information concerning it customarily reviewed by Bank in its oversight process, Bank will not be responsible for the insolvency of any Subcustodian which is not a branch or an Affiliated Subcustodian. (c) Bank reserves the right to add, replace or remove Subcustodians. Bank will give prompt notice of any such action, which will be advance notice if practicable. Upon request by Customer, Bank will identify the name, address and principal place of business of any Subcustodian and the name and address of the governmental agency or other regulatory authority that supervises or regulates such Subcustodian.

Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall be liable for the actions or omissions of any Subcustodian anySubcustodian to the same extent as if such act or omission was performed by the Bank itself. In the event of any Losses suffered or incurred by a Customer caused by or resulting from the actions or omissions of any Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in Customerin the amount of any such Losses. Bank shall also be liable for losses that result from the insolvency of any Affiliated Subcustodian. (b) Subject to Section 5.1(a) and Bank’s duty to use reasonable care in the monitoring of a Subcustodian’s financial condition as reflected in its published financial statements and other publicly available financial information concerning it customarily reviewed by Bank in its oversight process, Bank will not be responsible for the insolvency of any Subcustodian which is not a branch or an Affiliated Subcustodian. (c) Bank reserves the right to add, replace or remove Subcustodians. Bank will give prompt notice of any such action, which will be advance notice if practicable. Upon request by Customer, Bank will identify the name, address and principal place of business of any Subcustodian and the name and address of the governmental agency or other regulatory authority that supervises or regulates such Subcustodian.

Liability for Subcustodians. (a) Subject to the limitations of liability of Bank set forth in paragraph (b) of Section 7.1(b)7.1 of the DCA, Bank shall will be liable only for direct losses incurred by Customer that result from: (i) the actions or omissions of any failure by a Subcustodian to use reasonable care in the same extent as if such act provision of custodial services by it in accordance with the standards prevailing in the relevant market or omission was performed by the Bank itself. In the event of any Losses suffered or incurred by a Customer caused by or resulting from the actions fraud or omissions willful default of any such Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in the amount provision of any such Losses. Bank shall also be liable for losses that result from custodial services by it; or (ii) the insolvency of any Affiliated Subcustodian. (b) Subject to paragraph (a) of Section 5.1(a) 5.1 of this Rider and Bank’s duty to use reasonable care in the monitoring of a Subcustodian’s financial condition as reflected in its published financial statements and other publicly available financial information concerning it customarily reviewed by Bank in its oversight process, Bank will not be responsible for the insolvency of any Subcustodian which is not a branch or an Affiliated Subcustodian. (c) Bank reserves the right to add, replace or remove Subcustodians. Bank will give prompt notice of any such action, which will be advance notice if practicable. Upon request by Customer, Bank will identify the name, address and principal place of business of any Subcustodian and the name and address of the governmental agency or other regulatory authority that supervises or regulates such Subcustodian.

Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall be liable for the actions or omissions of any Subcustodian to the same extent as if such act or omission was performed by the Bank itself. In the event of any direct Losses suffered or incurred by a Customer caused by or resulting from the actions or omissions of any Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in the amount of any such direct Losses. Bank shall also be liable for losses direct Losses that result from the insolvency of any Affiliated Subcustodian. (b) . Subject to Section 5.1(a) and Bank’s 's duty to use reasonable care in the monitoring of a Subcustodian’s 's financial condition as reflected in its published financial statements and other publicly available financial information concerning it customarily reviewed by Bank in its oversight process, Bank will not be responsible for the insolvency of any Subcustodian which is not a branch or an Affiliated Subcustodian. (cb) Subject to compliance with Rule 17f-5 under the 1940 Act, Bank reserves the right to add, replace or remove Subcustodians. Bank will give prompt notice of any such action, which will be advance notice if practicable. Upon request by Customer, Bank will identify the name, address and principal place of business of any Subcustodian and the name and address of the governmental agency or other regulatory authority that supervises or regulates such Subcustodian.

Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall will be liable for direct losses incurred by Customer that result from: (i) the actions or omissions of any failure by a Subcustodian to use reasonable care in the same extent as if such act provision of custodial services by it in accordance with the standards prevailing in the relevant market or omission was performed by the Bank itself. In the event of any Losses suffered or incurred by a Customer caused by or resulting from the actions fraud or omissions willful misconduct of any such Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in the amount provision of any such Losses. Bank shall also be liable for losses that result from custodial services by it; (ii) the insolvency of any Affiliated Subcustodian; or (iii) negligence in the selection of a Subcustodian. (b) Subject to Section 5.1(a) and Bank’s duty to use reasonable care in the monitoring of a Subcustodian’s financial condition as reflected in its published financial statements and other publicly available financial information concerning it customarily reviewed by Bank in its oversight process, Bank will not be responsible for the insolvency of any Subcustodian which is not a branch or an Affiliated Subcustodian. (c) Bank reserves the right to add, replace or remove Subcustodians. Bank will give prompt notice of any such action, which will be advance notice if practicable. Upon request by Customer, Bank will identify the name, address and principal place of business of any Subcustodian and the name and address of the governmental agency or other regulatory authority that supervises or regulates such Subcustodian.

Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall will be liable for direct losses incurred by Customer that result from: Investment Company Rider to Global Custody Agreement (i) the actions or omissions of any failure by a Subcustodian to use reasonable care in the same extent as if such act provision of custodial services by it in accordance with the standards prevailing in the relevant market or omission was performed by the Bank itself. In the event of any Losses suffered or incurred by a Customer caused by or resulting from the actions fraud or omissions willful misconduct of any such Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in the amount provision of any such Losses. Bank shall also be liable for losses that result from custodial services by it; (ii) the insolvency of any Affiliated Subcustodian; or (iii) negligence in the selection of a Subcustodian. (b) Subject to Section 5.1(a) and Bank’s duty to use reasonable care in the monitoring of a Subcustodian’s financial condition as reflected in its published financial statements and other publicly available financial information concerning it customarily reviewed by Bank in its oversight process, Bank will not be responsible for the insolvency of any Subcustodian which is not a branch or an Affiliated Subcustodian. (c) Bank reserves the right to add, replace or remove Subcustodians. Bank will give prompt notice of any such action, which will be advance notice if practicable. Upon request by Customer, Bank will identify the name, address and principal place of business of any Subcustodian and the name and address of the governmental agency or other regulatory authority that supervises or regulates such Subcustodian.

Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall will be liable for direct losses incurred by Customer that result from: (i) the actions or omissions of any failure by a Subcustodian to use reasonable care in the same extent as if such act provision of custodial services by it in accordance with the standards prevailing in the relevant market for ===== Institutional Clients or omission was performed by the Bank itself. In the event of any Losses suffered or incurred by a Customer caused by or resulting from the actions fraud or omissions willful ========================== misconduct or default of any such Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in the amount provision =========== of any such Losses. Bank shall also be liable for losses that result from custodial services by it; or (ii) the bankruptcy or insolvency of any Affiliated =================== Subcustodian. (b) Subject to Section 5.1(a7.1(b) and Bank’s 's duty to use reasonable care === = in the monitoring of a Subcustodian’s 's financial condition as reflected in its published financial statements and other publicly available financial information concerning it customarily reviewed by Bank in its oversight processit, Bank will not be responsible for the insolvency of any Subcustodian which is not a branch or an Affiliated Subcustodian. (c) Bank reserves the right to add, replace or remove Subcustodians. Bank will give prompt notice of any such action, which will be advance notice if practicable. Upon request by Customer, Bank will identify the name, address and principal place of business of any Subcustodian and the name and address of the governmental agency or other regulatory authority that supervises or regulates such Subcustodian.