Common use of Liability of Custodian and Master Custodial Administration Agreement Administrator Clause in Contracts

Liability of Custodian and Master Custodial Administration Agreement Administrator. The Master Custodial Administration Agreement Administrator’s and Custodian’s liability under this Agreement and matters that it contemplates shall be limited to matters arising from the Master Custodial Administration Agreement Administrator’s and/or Custodian’s negligence or willful misconduct. The Master Custodial Administration Agreement Administrator and Custodian shall not be obligated or expected to commence or defend any legal action or proceeding in connection with this Custodial Agreement unless agreed upon by the Master Custodial Administration Agreement Administrator, Custodian Participant and Plan Administrator, and unless fully indemnified for so doing to the Master Custodial Administration Agreement Administrator, Custodian and / or Plan Administrator’s satisfaction.