Powers, Immunities and Standard of Care Sample Clauses

Powers, Immunities and Standard of Care. (a) The Depositary Bank shall not have any duties or responsibilities except those expressly set forth in this Agreement. Notwithstanding anything to the contrary contained herein, no Depositary Bank shall be required to take any action which is contrary to this Agreement or any law or which exposes any such Depositary Bank to any liability, if it shall have reasonable grounds for believing that adequate indemnity against such risk or liability is not reasonably assured to it. No Depositary Bank nor its affiliates shall be responsible to any other Party for (i) any recitals, statements, representations or warranties made by the Authority or any other Party contained in this Agreement or in any certificate or other document referred to or provided for herein or received by any Depositary Bank under this Agreement, (ii) the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other document referred to or provided for herein or (iii) any failure by the Authority or any other Party to perform its obligations hereunder. The Depositary Bank may employ agents, designees, and attorneys-in-fact, and shall not be responsible for the negligence or misconduct of any such agents or attorneys-in-fact selected by it with reasonable care.
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