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Common use of Liability of Custodian for Actions of Other Persons Clause in Contracts

Liability of Custodian for Actions of Other Persons. (a) Domestic Subcustodians and Foreign Subcustodians. The Custodian shall be liable for the actions or omissions of any Domestic Subcustodian or any Foreign Subcustodian to the same extent as if such action or omission were performed by the Custodian itself. In the event of any loss, damage or expense suffered or incurred by a Fund caused by or resulting from the actions or omissions of any Domestic Subcustodian or Foreign Subcustodian for which the Custodian would otherwise be liable, the Custodian shall promptly reimburse such Fund in the amount of any such loss, damage or expense.

Appears in 41 contracts

Samples: Custodian Agreement (Fidelity Revere Street Trust), Custodian Agreement (Fidelity Revere Street Trust), Custodian Agreement (Fidelity Advisor Series Viii)

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