Maintaining Assets with Eligible Foreign Custodians. State Street shall, in accordance with the requirements of Rule 17f-5, place and maintain the Foreign Assets in the care of the Eligible Foreign Custodian selected by State Street in each country which is listed on Schedule 2-E herein. State Street shall be responsible for the acts and omissions of such Eligible Foreign Custodian as if performed by State Street hereunder, taking into account established market practices and local laws prevailing in the jurisdiction in which the acts and omissions of the Eligible Foreign Custodians occur. In performing its delegated responsibilities as Foreign Custody Manager, State Street may place or maintain Foreign Assets with an Eligible Foreign Custodian, provided that State Street determines that the Foreign Assets will be subject to the requirements specified in Rule 17f-5(c)(1), including that the Foreign Assets will be subject to reasonable care, prudence and diligence based on the standards applicable to custodians in the country in which the Foreign Assets will be held by that Eligible Foreign Custodian, after considering all factors relevant to the safekeeping of such assets. State Street will undertake its duties as Foreign Custody Manager in accordance with the Standard of Care in the Master Services Agreement and in accordance with applicable State Street Laws and State Street known laws.
Maintaining Assets with Eligible Foreign Custodians. In performing its delegated responsibilities as Foreign Custody Manager, Provider shall, in accordance with the requirements of Rule 17f-5 under the 1940 Act, place and maintain the Foreign Assets in the care of an Eligible Foreign Custodian selected, retained, monitored and used by Provider with the exercise of the required Standard of Care in each country which is listed in Schedule 2 (Eligible Foreign Jurisdictions). Provider may place or maintain Foreign Assets with an Eligible Foreign Custodian, provided that Provider determines that the Foreign Assets will be subject to the requirements specified in Rule 17f-5(c)(1) under the 1940 Act, including that the Foreign Assets will be subject to reasonable care, prudence and diligence based on the standards applicable to custodians in the country in which the Foreign Assets will be held by that Eligible Foreign Custodian, after considering all factors relevant to the safekeeping of such assets and in accordance with Section 3.7(a). Provider will undertake its duties as Foreign Custody Manager in accordance with the Standard of Care and in accordance with applicable Provider Laws and the 1940 Act.
Maintaining Assets with Eligible Foreign Custodians. The FCM may place and maintain Foreign Assets in the care of an Eligible Foreign Custodian in accordance with Rule 17f-5(c)(1).
