Common use of Limitation of Bank's Liability Clause in Contracts

Limitation of Bank's Liability. The Bank's duties and responsibilities are as set forth in this Agreement. The Bank shall act only upon receipt of Advice from Broker regarding release of Collateral. The Bank shall not be liable or responsible for anything done, or omitted to be done by it in good faith and in the absence of negligence and may rely and shall be protected in acting upon any notice, instruction or other communication which it reasonably believes to be genuine and authorized. As between Customer and the Bank, the terms of the Custodian Agreement shall apply with respect to any losses or liabilities of such parties arising out of matters covered by this Agreement. As between the Bank and Broker, Broker shall indemnify and hold the Bank harmless with regard to any losses or liabilities of the Bank (including counsel fees) imposed on or incurred by the Bank arising out of any action or omission of the Bank in accordance with any notice or instruction of Broker under this Agreement. In matters concerning or relating to this Agreement, the Bank shall not be responsible for compliance with any statute or regulation regarding the establishment or maintenance of margin credit, including but not limited to Regulations T or X of the Board of Governors of the Federal Reserve System, or with any rules or regulations of the OCC. The Bank shall not be liable to any party for any acts or omissions of the other parties to this Agreement.

Limitation of Bank's Liability. The Bank's duties and responsibilities are as set forth in this Agreement. The Bank shall act only upon receipt of Advice from Broker regarding release of Collateral. The Bank shall not be liable or responsible for anything done, or omitted to be done by it in good faith and in the absence of negligence and may rely and shall be protected in acting upon any notice, instruction or other communication which it reasonably believes to be genuine and authorized. As between Customer and the Bank, the terms of the Custodian Agreement shall apply with respect to any losses or liabilities of such parties arising out of matters covered by this Agreement. As between the Bank and Broker, Broker shall indemnify indemnity and hold the Bank harmless with regard to any losses or liabilities of the Bank (including counsel fees) imposed on or incurred by the Bank arising out of any action or omission of the Bank in accordance with any notice or instruction of Broker under this Agreement. In matters concerning or relating to this Agreement, the Bank shall not be responsible for compliance with any statute or regulation regarding the establishment or maintenance of margin credit, including but not limited to Regulations T or X of the Board of Governors of the Federal Reserve System, or with any rules or regulations of the OCC. The Bank shall not be liable to any party for any acts or omissions of the other parties to this Agreement.

Limitation of Bank's Liability. The Bank's duties and responsibilities are as set forth in this Agreement. The Bank shall act only upon receipt of Advice from Broker regarding release or substitution of Collateral. The Bank shall not be liable or responsible for anything done, or omitted to be done by it in good faith and in the absence of negligence and may rely and shall be protected in acting upon any notice, instruction or other communication which it reasonably believes to be genuine and authorized. As between Customer and the Bank, the terms of the Custodian Agreement shall apply with respect to any losses or liabilities of such parties arising out of matters covered by this Agreement. As between the Bank and Broker, Broker shall indemnify and hold the Bank harmless with regard to any losses or liabilities of the Bank (including counsel fees) imposed on or incurred by the Bank arising out of any action or omission of the Bank in accordance with any Advice, notice or instruction of Broker under this Agreement. In matters concerning or relating to this Agreement, the Bank shall not be responsible for compliance with any statute or regulation regarding the establishment or maintenance of margin credit, including but not limited to Regulations T or X of the Board of Governors of the Federal Reserve System, or with any rules or regulations of the OCCOffice of the Controller of the Currency (or the Securities and Exchange Commission). The Bank shall not be liable to any party for any acts or omissions of the other parties to this Agreement.