Common use of Liability of the Bank Clause in Contracts

Liability of the Bank. 12.1 To the fullest extent permitted by laws and regulations, neither the Bank nor any of its employees, nominees or agents shall be liable as a result of acting or omitting to act. 12.2 The Bank shall have no liability to the Customer for any indirect, incidental or inconsequential loss or damages (including loss of profit, business or goodwill) even if advised of the possibility of such loss or damages. 12.3 Without limiting the generality of the foregoing and to the fullest extent permitted by laws and regulations, the Bank shall not be responsible or liable for any expense, loss, damage, liability or other consequences suffered or incurred by you : (a) for acting or omitting to act in good faith on your Instructions; (b) if for any reason beyond the Bank's control (including, without limitation, the unavailability of the funds credited to any account due to restrictions on convertibility or transferability, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, acts of war or civil strife, or other similar causes beyond the Bank’s control), the operation of the Wealth Account, any Wealth Portfolio(s), any Account(s), Product(s) and/or Service(s) is restricted or otherwise affected; (c) in connection with any arrangements between the Bank with third parties to provide incentives and benefits to the Bank's customers; (d) the non-receipt of your funds by the Bank ; (e) for any loss or damage caused by any delay or failure in any transmission or communication facilities; (f) for any loss or damage caused by any third party’s failure, delay, mistake, refusal, errors, defaults of any kind, neglect or omission in the transmission of any instructions or the making of any payment under the same; (g) if the funds credited or debited from the Account(s) diminish in value due to taxes, depreciation or becomes unavailable due to restrictions (howsoever arising) on convertibility, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, war, strikes or other causes beyond the Bank's reasonable control; (h) arising from the Bank's inability to detect or inadequate authenticity of your signature; (i) arising from your negligence, default or misconduct; or (j) for the bankruptcy or insolvency of any agent, nominee, correspondent or counterparty used by the Bank. 12.4 The Bank shall not be liable for any loss, damage or expense suffered or incurred by you (whether as a result of forgery of the signatory's signature, material alteration of withdrawal requests or other reasons of any kind whatsoever) through no fault of the Bank. The Bank shall not be liable for paying on altered and/or forged instructions where the alterations and/or forgery were made possible by use of erasable ink, pens or typewriters or any other equipment with built-in erasure features where the alterations and/or forgery cannot be easily detected or where the alteration and/or forgery is due to your negligence. Where applicable, if the Bank has debited your Account(s) in reliance on a withdrawal or payment request on which your signature was forged, the Bank shall not be liable to reverse the debit or pay or compensate you in respect of the amount so debited. 12.5 Bank shall not be liable to you for acting upon any instructions communicated or purportedly communicated by you to the Bank over the telephone or mobile or in writing and signed or purportedly signed by you or given or transmitted or purportedly given or transmitted by facsimile, notwithstanding that it is subsequently shown that such instruction was not given by you. 12.6 In the case of deposit accounts and in addition to the foregoing, you understand and agree: (a) to the inherent exchange risk in Foreign Currency deposits. In particular, a decline in the Foreign Currency's exchange rate relative to your currency of choice will reduce (or even eliminate) your return or earnings on the Foreign Currency deposits; (b) that any funds credited or debited from the Account(s) may diminish in value due to taxes, depreciation or become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the Bank will have no responsibility or liability thereon; (c) that any currency in which the Bank’s payment obligations are denominated may become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the Bank shall be entitled to fulfil its payment obligations in such other currency or currencies at such rates of exchange as the Bank may at its discretion determine. 12.7 To the fullest extent permitted by laws and regulations, the Bank shall not be liable for any loss or damage suffered by you by reason of or due to (a) any act, omission or delay on the part of the nominee or agent or sub-agent of the Bank or the Custodian; and (b) any act, omission, delay or improper or wrongful execution on the part of the nominee or agent or sub-agent of any fund management company or trustee or their registrar or depository or depository agent or clearing system or any other person to negotiate or initiate, carry out or execute your instructions under this Agreement or under or pursuant to any application made by you to the Bank (to buy, switch or sell any Fund or Unit or other transaction). 12.8 The Bank shall not be liable for any failure to perform any obligation under these terms and conditions if such performance would result in it being in breach of any law, regulation or other requirement of any governmental or other authority, as it shall determine.

Liability of the Bank. 12.1 To ‌ 16.1 The Bank’s obligations under the fullest Agreement constitute obligations of means (obligation de moyens) within the meaning of Applicable Law. Under this Agreement, the Bank may only be liable for fraudulent conduct or gross negligence. If liable, the Bank’s liability shall be limited to direct losses only. 16.2 Subject to the above, and to the maximum extent permitted by laws and regulations, neither the Bank nor any of its employees, nominees or agents shall be liable as a result of acting or omitting to act. 12.2 The Bank shall have no liability to the Customer for any indirect, incidental or inconsequential loss or damages (including loss of profit, business or goodwill) even if advised of the possibility of such loss or damages. 12.3 Without limiting the generality of the foregoing and to the fullest extent permitted by laws and regulations, the Bank shall not be responsible or liable for any expense, loss, damage, liability or other consequences suffered or incurred by you : (a) for acting or omitting to act in good faith on your Instructions; (b) if for any reason beyond the Bank's control (including, without limitation, the unavailability of the funds credited to any account due to restrictions on convertibility or transferability, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, acts of war or civil strife, or other similar causes beyond the Bank’s control), the operation of the Wealth Account, any Wealth Portfolio(s), any Account(s), Product(s) and/or Service(s) is restricted or otherwise affected; (c) in connection with any arrangements between the Bank with third parties to provide incentives and benefits to the Bank's customers; (d) the non-receipt of your funds by the Bank ; (e) for any loss or damage caused by any delay or failure in any transmission or communication facilities; (f) for any loss or damage caused by any third party’s failure, delay, mistake, refusal, errors, defaults of any kind, neglect or omission in the transmission of any instructions or the making of any payment under the same; (g) if the funds credited or debited from the Account(s) diminish in value due to taxes, depreciation or becomes unavailable due to restrictions (howsoever arising) on convertibility, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, war, strikes or other causes beyond the Bank's reasonable control; (h) arising from the Bank's inability to detect or inadequate authenticity of your signature; (i) arising from your negligence, default or misconduct; or (j) for the bankruptcy or insolvency of any agent, nominee, correspondent or counterparty used by the Bank. 12.4 The Bank shall not be liable for any loss, damage or expense suffered or incurred by you (whether as a result of forgery of the signatory's signature, material alteration of withdrawal requests or other reasons of any kind whatsoever) through no fault of the Bank. The Bank shall not be liable for paying on altered and/or forged instructions where the alterations and/or forgery were made possible by use of erasable ink, pens or typewriters or any other equipment with built-in erasure features where the alterations and/or forgery cannot be easily detected or where the alteration and/or forgery is due to your negligence. Where applicable, if the Bank has debited your Account(s) in reliance on a withdrawal or payment request on which your signature was forged, the Bank shall not be liable to reverse the debit or pay or compensate you in respect of the amount so debited. 12.5 Bank shall not be liable to you for acting upon any instructions communicated or purportedly communicated by you to the Bank over the telephone or mobile or in writing and signed or purportedly signed by you or given or transmitted or purportedly given or transmitted by facsimile, notwithstanding that it is subsequently shown that such instruction was not given by you. 12.6 In the case of deposit accounts and in addition to the foregoing, you understand and agree: (a) to the inherent exchange risk in Foreign Currency deposits. In particular, a decline in the Foreign Currency's exchange rate relative to your currency of choice will reduce (or even eliminate) your return or earnings on the Foreign Currency deposits; (b) that any funds credited or debited from the Account(s) may diminish in value due to taxes, depreciation or become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the Bank will have no responsibility or liability thereon; (c) that any currency in which the Bank’s payment obligations are denominated may become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the Bank shall be entitled to fulfil its payment obligations in such other currency or currencies at such rates of exchange as the Bank may at its discretion determine. 12.7 To the fullest extent permitted by laws and regulationsApplicable law, the Bank shall not be liable for the consequences or any loss or damage Losses suffered by you by reason of or due to the Professional, the Authorised Users and the Client that may result from: (a) any actuse of the Authentication Kits made following the sending or communication of these kits to the Professional or to the Authorised Users pursuant to Clause 6.2 of these General Conditions; (b) any inaccuracy, omission inappropriateness and lack of completeness of any Information (including prices and opinions communicated and any Third Party Information) made available via the Electronic Services and for any use of and reliance on the Information. This includes reliance on the prices contained in the Information (such as stock market prices and exchange rates) which are not binding on the Bank; (c) instructions, orders and operations carried out via the Electronic Services and not processed or delay executed (including, for orders not executed outside Business Hours) or not processed or executed on time; (d) the Professional and/or to the Authorised Users and/or the Client’s failure to meet its/their obligations towards Third Parties or it/their Authorised Subcontractors; (e) the use of the Internet made by the Professional and the Authorised Users. This includes any transmission errors, or delays, network failures or overloads, malfunctions (including bugs and viruses), Internet access being blocked by malicious or fraudulent acts of Third Parties, system malfunctions on the part of internet service providers and use of hyperlinks giving access to the nominee Sites over which the Bank has no control; (f) any interference or agent or sub-agent interruption in the availability of the Bank Electronic Services (caused, for instance, by software viruses or the Custodian; and hacking or other unlawful interventions on the Bank’s IT system); (bg) any act, omission, delay suspension or improper or wrongful execution on interruption in the part provision of the nominee Electronic Services decided by the Bank pursuant to Clause 20 of these General Conditions; (h) the Terminals, particularly for the software and technical measures implemented on these Terminals; (i) any access to or agent use of the Electronic Services made by the Authorised Users (including the Delegatees, if any) and the consequences thereof; (j) any access by unauthorised Third Parties to Account Information, Client Data or sub-agent of any fund management company Data Files due to a failure by the Professional or trustee or their registrar or depository or depository agent or clearing system the Authorised Users to comply with these General Conditions, Applicable Law or any other person applicable laws and regulations; (k) the processing of Personal Data relating to negotiate or initiate, carry the Professional and the Authorised Users carried out or execute your instructions under this Agreement or under or pursuant to any application made Clause 17 of these General Conditions and for the processing and transfer of Client Data authorised by you the Client pursuant to Clause 22 of these General Conditions; and (l) the services provided by Third Parties (such as Internet service providers or telecommunications operators) to the Bank (to buy, switch Authorised Users and aimed at enabling or sell any Fund or Unit or other transaction)improving the access and use of the Electronic Services. 12.8 The Bank shall not be liable for any failure to perform any obligation under these terms and conditions if such performance would result in it being in breach of any law, regulation or other requirement of any governmental or other authority, as it shall determine.

Liability of the Bank. 12.1 To The Bank shall not, in the fullest extent permitted by laws and regulationsabsence of gross negligence on the Bank's part, neither the Bank nor any of its employees, nominees or agents shall be liable to the Applicant(s) under this Agreement, for any act, omission or delay by the Product Provider(s) or for any claims which the Applicant(s) may suffer or incur as a result of acting or omitting to act. 12.2 The in course of discharge by the Bank shall have no liability to the Customer for any indirector its nominees, incidental agents, officers or inconsequential loss or damages (including loss of profit, business or goodwill) even if advised sub-custodian of the possibility of such loss or damages. 12.3 Bank's duties under this Agreement. Without limiting the generality of the foregoing and prejudice to the fullest extent permitted by laws and regulationswhat is stated above, the Bank shall not be responsible or held liable for any expense, loss, damage, liability or other consequences suffered or incurred by you : (a) for acting or omitting to act in good faith on your Instructions; (b) if for any reason beyond the Bank's control (including, without limitation, the unavailability of the funds credited to any account due to restrictions on convertibility or transferability, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, acts of war or civil strife, or other similar causes beyond the Bank’s control), the operation of the Wealth Account, any Wealth Portfolio(s), any Account(s), Product(s) and/or Service(s) is restricted or otherwise affected; (c) in connection with any arrangements between the Bank with third parties to provide incentives and benefits to the Bank's customers; (d) the non-receipt of your funds by the Bank ; (e) for any loss or damage or failure to comply or delay in complying with its obligations under these Terms and Conditions, which is caused directly or indirectly by any delay event or failure in any transmission or communication facilities; (f) for any loss or damage caused by any third party’s failure, delay, mistake, refusal, errors, defaults of any kind, neglect or omission in the transmission of any instructions or the making of any payment under the same; (g) if the funds credited or debited from the Account(s) diminish in value due to taxes, depreciation or becomes unavailable due to restrictions (howsoever arising) on convertibility, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, war, strikes or other causes circumstance beyond the Bank's reasonable control; (h) arising from the Bank's inability to detect or inadequate authenticity of your signature; (i) arising from your negligence, default or misconduct; or (j) for the bankruptcy or insolvency of any agent, nominee, correspondent or counterparty used by the Bank. 12.4 The Bank shall not be liable for any loss, damage or expense suffered or incurred by you (whether as a result of forgery of the signatory's signature, material alteration of withdrawal requests or other reasons of any kind whatsoever) through no fault of the Bank. The Bank shall not be liable for paying on altered and/or forged instructions where and the alterations and/or forgery were made possible Applicant(s) shall indemnify the Bank for any losses, damages, expenses, costs, liabilities and claims of whatsoever nature, caused by fraudulent or unauthorized use of erasable ink, pens or typewriters or any other equipment with built-in erasure features where the alterations and/or forgery cannot be easily detected or where the alteration and/or forgery is due to your negligence. Where applicable, if the Bank has debited your Account(ssignature(s) in reliance on a withdrawal or payment request on which your signature was forged, the Bank shall not be liable to reverse the debit or pay or compensate you in respect of the amount so debited. 12.5 Bank shall not be liable to you for acting upon any instructions communicated or purportedly communicated by you to the Bank over the telephone or mobile or in writing and signed or purportedly signed by you or given or transmitted or purportedly given or transmitted by facsimile, notwithstanding that it is subsequently shown that such instruction was not given by you. 12.6 In the case of deposit accounts and in addition to the foregoing, you understand and agree: (a) to the inherent exchange risk in Foreign Currency depositsApplicant(s). In particular, a decline in the Foreign Currency's exchange rate relative to your currency of choice will reduce (or even eliminate) your return or earnings on the Foreign Currency deposits; (b) that any funds credited or debited from the Account(s) may diminish in value due to taxes, depreciation or become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the The Bank will have no responsibility or liability thereon; (c) that any currency in which the Bank’s payment obligations are denominated may become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the Bank shall be entitled to fulfil its payment obligations in such other currency or currencies at such rates of exchange as the Bank may at its discretion determine. 12.7 To the fullest extent permitted by laws and regulations, the Bank shall not be liable for any error or inaccuracies in any of the publicly available information that may be provided to the Applicant(s) by the Bank. The Bank shall be under no duty to verify compliance with any restrictions on the investment powers of the Applicant(s). The Bank will not be liable for any loss, damage, cost, charges or expenses, directly or indirectly, caused by reason of any defects or imperfection or mechanical or other failure with relation to computer, cable, telex, telephone, satellite, postal system or any other medium or Mode of Communication. The Applicant(s) shall purchase / invest in a product at his / her / its own risk. It is the Applicant(s) responsibility to make a prior and independent assessment / evaluation of any product, and for such purpose may utilise the services of any investment consultant / chartered accountant / financial advisor / tax advisor, as may be deemed fit. The Bank and / or any employee of the Bank shall not have any Liability or be liable for the consequences, in any manner, for any advice or representation made if the Applicant(s) seek to purchase / invest in a product solely on the basis of such advice or representation provided by the Bank or its employees without any independent assessment / evaluation. The Client shall be doing so at its / his / her own risk. In such an event the Bank shall not, in any manner, be liable for the consequences arising out of such investments made by the Client. The Bank accepts no liability whatsoever for any loss or damage suffered of any kind, directly or indirectly, arising out of the purchase /investments made by you the Applicant(s). The Bank may, from time to time, vary the Terms and Conditions governing the investment and insurance services provided by reason of the Bank. The said changes may be intimated to the Applicant(s) in such form and manner as is reasonable, including but not limited to sending the same via e- mail / SMS and / or due making the same available on the Bank’s website. The Applicant(s) acknowledge, undertake and accept to (a) be bound by the same Authorisations. The Bank shall, without any act, omission or delay obligation in that behalf on the part of the nominee Bank, have, for the purpose of the investment services, the authority to do the following directly or through an agent or sub-agent representative: • Collect from the Applicant(s), the relevant transaction forms, instructions, cheques, payment instructions and / or such other documents as may be required, deposit the same with the respective Product Provider and collect / receive acknowledgement for the same. • Receive the Account Statement(s) pertaining to the transactions from the respective Fund House / Product Provider and acknowledge receipt of the same. • Collect and / or receive from the Fund House / Product Provider the cheques / credit instructions for any corporate action(s) or sale / redemption proceeds and forward the same to the Applicant(s) or credit to the Applicant(s) account maintained with the Bank. • To do or omit to do all such acts and things as the Bank may in its sole discretion consider to be necessary or the Custodian; desirable in order to perform its duties or exercise of powers set out in these Terms and (b) Conditions or with a view to comply with any actlaws, omissionorders, delay rules, regulations or improper or wrongful execution on the part of the nominee or agent or sub-agent directions of any fund management company government or trustee or their registrar or depository or depository agent or clearing system or any other person to negotiate or initiate, carry out or execute your instructions under this Agreement or under or pursuant to any application made by you to the Bank (to buy, switch or sell any Fund or Unit regulatory or other transaction)authorities. 12.8 The Bank shall not be liable for any failure to perform any obligation under these terms and conditions if such performance would result in it being in breach of any law, regulation or other requirement of any governmental or other authority, as it shall determine.

Liability of the Bank. 12.1 To For the fullest extent permitted by laws exclusive benefit of the Bank and regulationsas between the Bank and the Borrowers only, neither the Borrowers assume all risks of, but shall not be liable or responsible to the Bank or any other person or entity for damages arising out of, the acts or omissions of the Trustee and any transferee of the Letters of Credit with respect to the Trustee's or such transferee's use of the Letters of Credit. Neither the Bank nor any of its employees, nominees officers or agents directors shall be liable as a result or responsible for: (i) the use which may be made of acting the Letters of Credit or omitting to act. 12.2 The Bank shall have no liability to the Customer for any indirectacts or omissions of the Trustee and any such transferee in connection therewith; (ii) the validity, incidental sufficiency or inconsequential loss genuineness of documents, or damages (including loss of profitany endorsement(s) thereon, business or goodwill) even if advised of the possibility of such loss documents should in fact prove to be in any or damages. 12.3 Without limiting the generality of the foregoing and to the fullest extent permitted by laws and regulationsall respects invalid, the Bank shall not be responsible insufficient, fraudulent or liable for any expense, loss, damage, liability or other consequences suffered or incurred by you : forged; (aiii) for acting or omitting to act in good faith on your Instructions; (b) if for any reason beyond the Bank's control (including, without limitation, the unavailability of the funds credited to any account due to restrictions on convertibility or transferability, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, acts of war or civil strife, or other similar causes beyond the Bank’s control), the operation of the Wealth Account, any Wealth Portfolio(s), any Account(s), Product(s) and/or Service(s) is restricted or otherwise affected; (c) in connection with any arrangements between the Bank with third parties to provide incentives and benefits to the Bank's customers; (d) the non-receipt of your funds payment by the Bank ; (e) for any loss or damage caused by any delay or under the Letters of Credit against presentment of documents which do not strictly comply with the terms of the Letters of Credit, including but not limited to, failure in any transmission or communication facilities; (f) for any loss or damage caused by any third party’s failure, delay, mistake, refusal, errors, defaults of any kind, neglect documents to bear any reference or omission adequate reference to the Letters of Credit; or (iv) any other circumstances whatsoever in the transmission of any instructions making or the making of any failing to make payment under the same; (g) if Letters of Credit, except only that the funds credited or debited from the Account(s) diminish in value due to taxes, depreciation or becomes unavailable due to restrictions (howsoever arising) on convertibility, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, war, strikes or other causes beyond Borrowers shall have a claim against the Bank's reasonable control; (h) arising from the Bank's inability to detect or inadequate authenticity of your signature; (i) arising from your negligence, default or misconduct; or (j) for the bankruptcy or insolvency of any agent, nominee, correspondent or counterparty used by the Bank. 12.4 The Bank shall not be liable for any loss, damage or expense suffered or incurred by you (whether as a result of forgery of the signatory's signature, material alteration of withdrawal requests or other reasons of any kind whatsoever) through no fault of the Bank. The Bank shall not be liable for paying on altered and/or forged instructions where the alterations and/or forgery were made possible by use of erasable ink, pens or typewriters or any other equipment with built-in erasure features where the alterations and/or forgery cannot be easily detected or where the alteration and/or forgery is due to your negligence. Where applicable, if the Bank has debited your Account(s) in reliance on a withdrawal or payment request on which your signature was forged, the Bank shall not be liable to reverse the debit or pay or compensate you in respect of the amount so debited. 12.5 Bank shall not be liable to you for acting upon any instructions communicated or purportedly communicated by you to the Bank over the telephone or mobile or in writing and signed or purportedly signed by you or given or transmitted or purportedly given or transmitted by facsimile, notwithstanding that it is subsequently shown that such instruction was not given by you. 12.6 In the case of deposit accounts and in addition to the foregoing, you understand and agree: (a) to the inherent exchange risk in Foreign Currency deposits. In particular, a decline in the Foreign Currency's exchange rate relative to your currency of choice will reduce (or even eliminate) your return or earnings on the Foreign Currency deposits; (b) that any funds credited or debited from the Account(s) may diminish in value due to taxes, depreciation or become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the Bank will have no responsibility or liability thereon; (c) that any currency in which the Bank’s payment obligations are denominated may become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the Bank shall be entitled liable to fulfil its payment obligations the Borrowers, to the extent, but only to the extent, of any damages suffered by the Borrowers which were caused by (A) the Bank's willful misconduct or gross negligence in such other currency determining whether documents presented under the Letters of Credit comply with the terms of the Letters of Credit or currencies at such rates (B) the Bank's willful or negligent failure to pay under the Letters of exchange as Credit after the presentation to it by the Trustee of a draft and certificate strictly complying with the terms and conditions of the Letters of Credit. In furtherance and not in limitation of the foregoing, the Bank may at its discretion determine. 12.7 To the fullest extent permitted by laws and regulationsaccept documents that appear on their face to be in order, the Bank shall not be liable without responsibility for any loss or damage suffered by you by reason of or due to (a) any actfurther investigation, omission or delay on the part of the nominee or agent or sub-agent of the Bank or the Custodian; and (b) any act, omission, delay or improper or wrongful execution on the part of the nominee or agent or sub-agent regardless of any fund management company notice or trustee or their registrar or depository or depository agent or clearing system or any other person to negotiate or initiate, carry out or execute your instructions under this Agreement or under or pursuant to any application made by you information to the Bank (to buy, switch or sell any Fund or Unit or other transaction)contrary. 12.8 The Bank shall not be liable for any failure to perform any obligation under these terms and conditions if such performance would result in it being in breach of any law, regulation or other requirement of any governmental or other authority, as it shall determine.

Liability of the Bank. 12.1 To Except as otherwise expressly set forth in this Agreement, the fullest extent permitted by laws Company assumes all risks of the acts or omissions of the Trustee and regulations, neither any beneficiary or transferee of the Letter of Credit with respect to its use of the Letter of Credit. Neither the Bank nor any of its employees, nominees officers or agents directors shall be liable as a result of acting or omitting to act. 12.2 The Bank shall have no liability to the Customer for any indirect, incidental or inconsequential loss or damages (including loss of profit, business or goodwill) even if advised of the possibility of such loss or damages. 12.3 Without limiting the generality of the foregoing and to the fullest extent permitted by laws and regulations, the Bank shall not be responsible or liable for any expense, loss, damage, liability or other consequences suffered or incurred by you for: (a) for acting the use or omitting to act misuse which may be made of the Letter of Credit or any acts or omissions of the Trustee and any beneficiary or transferee in good faith on your Instructionsconnection therewith; (b) the validity, accuracy, sufficiency or genuineness of documents, or of any endorsement thereon, even if for such documents shall prove to be in any reason or all respects invalid, inaccurate, insufficient, fraudulent or forged; (c) payment by the Bank against presentation of documents which do not comply with the terms of the Letter of Credit, including failure of any documents to bear any reference or adequate reference to the Letter of Credit; or (d) failure of the beneficiary of the Letter of Credit to comply fully with conditions required in order to draw upon the Letter of Credit; or (e) omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable telegraph, telex or otherwise, whether or not they be in cipher; or (f) errors in interpretation of technical terms; or (g) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under the Letter of Credit or of the proceeds thereof; or (h) the misapplication by the beneficiary of the Letter of Credit of the proceeds of any drawing thereunder; or (i) any consequences arising from causes beyond the control of the Bank's control (, including, without limitation, the unavailability of the funds credited to any account due to restrictions on convertibility or transferability, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, acts of war or civil strife, or other similar causes beyond the Bank’s controlGovernmental Acts (as defined in Section 7.6), the operation of the Wealth Account, any Wealth Portfolio(s), any Account(s), Product(s) and/or Service(s) is restricted or otherwise affected; (c) in connection with any arrangements between the Bank with third parties to provide incentives and benefits to the Bank's customers; (d) the non-receipt of your funds by the Bank ; (e) for any loss or damage caused by any delay or failure in any transmission or communication facilities; (f) for any loss or damage caused by any third party’s failure, delay, mistake, refusal, errors, defaults of any kind, neglect or omission in the transmission of any instructions or the making of any payment under the same; (g) if the funds credited or debited from the Account(s) diminish in value due to taxes, depreciation or becomes unavailable due to restrictions (howsoever arising) on convertibility, requisitions, involuntary transfers, distraints of any character, exercise of governmental or military powers, war, strikes or other causes beyond the Bank's reasonable control; (h) arising from the Bank's inability to detect or inadequate authenticity of your signature; (i) arising from your negligence, default or misconduct; or (j) for any other circumstances whatsoever in making or failing to make payment under the bankruptcy or insolvency Letter of any agentCredit, nominee, correspondent or counterparty used by EXCEPT that the Company shall have a claim against the Bank. 12.4 The Bank shall not be liable for any loss, damage or expense suffered or incurred by you (whether as a result of forgery of the signatory's signature, material alteration of withdrawal requests or other reasons of any kind whatsoever) through no fault of the Bank. The Bank shall not be liable for paying on altered and/or forged instructions where the alterations and/or forgery were made possible by use of erasable ink, pens or typewriters or any other equipment with built-in erasure features where the alterations and/or forgery cannot be easily detected or where the alteration and/or forgery is due to your negligence. Where applicable, if the Bank has debited your Account(s) in reliance on a withdrawal or payment request on which your signature was forged, the Bank shall not be liable to reverse the debit or pay or compensate you in respect of the amount so debited. 12.5 Bank shall not be liable to you for acting upon any instructions communicated or purportedly communicated by you to the Bank over the telephone or mobile or in writing and signed or purportedly signed by you or given or transmitted or purportedly given or transmitted by facsimile, notwithstanding that it is subsequently shown that such instruction was not given by you. 12.6 In the case of deposit accounts and in addition to the foregoing, you understand and agree: (a) to the inherent exchange risk in Foreign Currency deposits. In particular, a decline in the Foreign Currency's exchange rate relative to your currency of choice will reduce (or even eliminate) your return or earnings on the Foreign Currency deposits; (b) that any funds credited or debited from the Account(s) may diminish in value due to taxes, depreciation or become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the Bank will have no responsibility or liability thereon; (c) that any currency in which the Bank’s payment obligations are denominated may become unavailable due to restrictions (howsoever arising) on convertibility, transferability, requisition, government acts, order, decrees and regulations, involuntary transfers, distraints of any character, exercise of governmental or military or usurped powers, war, strikes, acts of civil strife, monetary union or exchange similar causes beyond the Bank’s reasonable control, and the Bank shall be entitled liable to fulfil its payment obligations the Company to the extent of any direct, as opposed to consequential, damages suffered by the Company which the Company proves were caused by the willful misconduct or gross negligence of the Bank in such other currency determining whether a draft or currencies at such rates certificate presented under the Letter of exchange as Credit complied with the terms of the Letter of Credit. In furtherance and not in limitation of the foregoing, the Bank may at its discretion determine. 12.7 To the fullest extent permitted by laws and regulationsaccept documents that appear on their face to be in order, the Bank shall not be liable without responsibility for any loss or damage suffered by you by reason of or due to (a) any actfurther investigation, omission or delay on the part of the nominee or agent or sub-agent of the Bank or the Custodian; and (b) any act, omission, delay or improper or wrongful execution on the part of the nominee or agent or sub-agent regardless of any fund management company notice or trustee or their registrar or depository or depository agent or clearing system or any other person to negotiate or initiate, carry out or execute your instructions under this Agreement or under or pursuant to any application made by you information to the Bank (to buy, switch or sell any Fund or Unit or other transaction)contrary. 12.8 The Bank shall not be liable for any failure to perform any obligation under these terms and conditions if such performance would result in it being in breach of any law, regulation or other requirement of any governmental or other authority, as it shall determine.