Common use of Reconciling to Fund Records Clause in Contracts

Reconciling to Fund Records. The book entry records of the shareholder recordkeeping agent for each Fund shall be determinative with respect to each Account. Institution will notify Federated in writing of any discrepancy between its records and the records of Federated and the Fund within a reasonable period of time after it becomes aware of such discrepancy. Notwithstanding anything to the contrary, Institution solely shall be responsible and liable for any discrepancies between its records and the records of Federated and the Funds, provided that such discrepancy is not solely a result of the negligence of Federated or the Funds.

Reconciling to Fund Records. The book entry records of the shareholder recordkeeping agent for each Fund shall be determinative with respect to each Account. In the event Institution maintains records, e.g. for omnibus accounts, Institution will notify Federated in writing of any discrepancy between its records and the records of Federated and the Fund within a reasonable period of time after it becomes aware of such discrepancy. Notwithstanding anything to the contrary, Institution solely shall be responsible and liable for any discrepancies between its records and the records of Federated and the Funds, provided that such discrepancy is not solely a result of the negligence of Federated or the Funds.