Common use of Responsibilities of Custodian Clause in Contracts

Responsibilities of Custodian. (a) The Custodian shall maintain the custodial account, distinct from all other custodial accounts, for the exclusive benefit of the Depositor and the Depositor's beneficiaries and shall be responsible for performing only such services as are described in this Agreement. (b) All contributions by the Depositor to the custodial account shall be invested according to Article 8.1 hereof at the sole direction of the Depositor, and the Custodian shall not be responsible or liable for any investment decisions or recommendations with respect to the investment, reinvestment, or sale of assets in the custodial account. With regard to the Mutual Funds listed on the Application and any other Mutual Fund, the Depositor understands that the Custodian does not endorse the Mutual Funds as suitable investments for the Depositor. In addition, the Custodian will not provide investment advice to the Depositor. The Depositor assumes all responsibility for the choice of his or her investments in the custodial account. The Custodian shall not be responsible for reviewing any assets held in the custodial account and shall not be responsible for questioning any investment decision of the Depositor. The Custodian shall not be liable for any loss resulting from any action taken by the Custodian at the direction of the Depositor or any loss resulting from any failure to act because of the absence of directions from the Depositor. (c) The Custodian shall not be responsible for inquiring into the nature or amount of any contribution made by the Depositor, nor into the amount or timing of any distribution requested by the Depositor, or whether such contributions or distributions comply with the Code. The Depositor shall have full responsibility for any tax or investment consequences of all contributions to and distributions from the custodial account. (d) If the Custodian receives any investment instructions from the Depositor which, in the opinion of the Custodian, are not in good order or are unclear, or if the Custodian receives monies from the Depositor which would exceed the amount that the Depositor may contribute to the custodial account, the Custodian may hold all or a portion of the monies uninvested pending receipt of written (or in any other manner permitted by the Custodian) instructions or clarification. During any such delay the Custodian will not be liable for any loss of income or appreciation, loss of interest, or for any other loss. The Custodian may also return all or a portion of the monies to the Depositor. Again, in such situations, the Custodian will not be liable for any loss. (e) The Custodian will designate contributions (other than rollover contributions) as being made for any particular year as requested by the Depositor. If the Depositor does not designate a year for any contribution, the Custodian will designate the year the contribution was actually received. (f) The Custodian will accept transfers of a cash amount to the custodial account from another custodian or trustee of an Individual Retirement Account, Qualified Retirement Plan or Individual Retirement Annuity upon the Depositor's written direction. The Custodian will also transfer a cash amount in the custodial account upon the written request of the Depositor to another custodian or trustee of an Individual Retirement Account or Annuity. For such transfer, the Custodian may require a written acceptance of the successor custodian. The Depositor warrants that all transfers to and from the custodial account will be made in accordance with the rules and regulations of the Internal Revenue Service. (g) The Custodian is authorized to hire an agent to perform certain of its duties hereunder, which agent may be the transfer agent for the Mutual Fund shares authorized to be held hereunder. (h) The Depositor agrees to indemnify and hold harmless, and to defend the Custodian against any and all claims arising from and liabilities incurred by reason of any action taken by the Custodian in good faith pursuant to this Agreement.

Responsibilities of Custodian. (a) The Custodian shall maintain the custodial account, distinct from all other custodial accounts, for the exclusive benefit of the Depositor So long as and the Depositor's beneficiaries and shall be responsible for performing only such services as are described in this Agreement. (b) All contributions by the Depositor to the custodial account shall be invested according to Article 8.1 hereof at extent that it is in the sole direction exercise of the Depositorreasonable care, and the Custodian shall not be responsible for the title, validity or genuineness of any property or evidence of title thereto received by it or delivered by it pursuant to this The Custodian shall be liable for any investment decisions the acts or recommendations omissions of a foreign banking institution appointed pursuant to the provisions of Article 3 to the same extent as set forth in Article 1 hereof with respect to the investment, reinvestment, or sale of assets sub-custodians located in the custodial account. With regard to United States (except as specifically provided in Article 3.10) and, regardless of whether assets are maintained in the Mutual Funds listed on the Application and any other Mutual Fundcustody of a foreign banking institution, a foreign securities depository or a branch of a U.S. bank as contemplated by paragraph 3.13 hereof, the Depositor understands that the Custodian does not endorse the Mutual Funds as suitable investments for the Depositor. In addition, the Custodian will not provide investment advice to the Depositor. The Depositor assumes all responsibility for the choice of his or her investments in the custodial account. The Custodian shall not be responsible for reviewing any assets held in the custodial account and shall not be responsible for questioning any investment decision of the Depositor. The Custodian shall not be liable for any loss loss, damage, cost, expense, liability or claim resulting from any action taken by the Custodian at from, or caused by, the direction of or authorization by the Depositor Fund to maintain custody of any securities or any loss cash of the Fund in a foreign country including, but not limited to, losses resulting from nationalization, expropriation, currency restrictions, or acts of war or terrorism. If the Fund requires the Custodian, its affiliates, subsidiaries or agents, to advance cash or securities for any purpose (including but not limited to securities settlements, foreign exchange contracts and assumed settlement) for the benefit of a Portfolio including the purchase or sale of foreign exchange or of contracts for foreign exchange or in the event that the Custodian or its nominee shall incur or be assessed any taxes, charges, expenses, assessments, claims or liabilities in connection with the performance of this Contract, except such as may arise from its or its nominee's own negligent action, negligent failure to act because or willful misconduct, any property at any time held for the account of the absence of directions from applicable Portfolio shall be security therefor and should the Depositor. (c) The Custodian shall not be responsible for inquiring into the nature or amount of any contribution made by the Depositor, nor into the amount or timing of any distribution requested by the Depositor, or whether such contributions or distributions comply with the Code. The Depositor shall have full responsibility for any tax or investment consequences of all contributions Fund fail to and distributions from the custodial account. (d) If repay the Custodian receives any investment instructions from the Depositor which, in the opinion of the Custodian, are not in good order or are unclear, or if the Custodian receives monies from the Depositor which would exceed the amount that the Depositor may contribute to the custodial accountpromptly, the Custodian may hold all or a portion shall be entitled to utilize available cash and to dispose of the monies uninvested pending receipt of written (or in any other manner permitted by the Custodian) instructions or clarification. During any such delay the Custodian will not be liable for any loss of income or appreciation, loss of interest, or for any other loss. The Custodian may also return all or a portion of the monies Portfolio's assets to the Depositor. Again, in such situations, the Custodian will not be liable for any lossextent necessary to obtain reimbursement. (e) The Custodian will designate contributions (other than rollover contributions) as being made for any particular year as requested by the Depositor. If the Depositor does not designate a year for any contribution, the Custodian will designate the year the contribution was actually received. (f) The Custodian will accept transfers of a cash amount to the custodial account from another custodian or trustee of an Individual Retirement Account, Qualified Retirement Plan or Individual Retirement Annuity upon the Depositor's written direction. The Custodian will also transfer a cash amount in the custodial account upon the written request of the Depositor to another custodian or trustee of an Individual Retirement Account or Annuity. For such transfer, the Custodian may require a written acceptance of the successor custodian. The Depositor warrants that all transfers to and from the custodial account will be made in accordance with the rules and regulations of the Internal Revenue Service. (g) The Custodian is authorized to hire an agent to perform certain of its duties hereunder, which agent may be the transfer agent for the Mutual Fund shares authorized to be held hereunder. (h) The Depositor agrees to indemnify and hold harmless, and to defend the Custodian against any and all claims arising from and liabilities incurred by reason of any action taken by the Custodian in good faith pursuant to this Agreement.

Responsibilities of Custodian. (a) The Custodian shall maintain the custodial accountCustodial Account, distinct from all other custodial accountsCustodial Accounts, for the exclusive benefit of the Depositor and the Depositor's beneficiaries and shall be responsible for performing only such services as are described in this the Agreement. (b) All contributions by the Depositor to the custodial account Custodial Account shall be invested according to Article 8.1 hereof at the sole direction of the Depositor, and the Custodian shall not be responsible or liable for any investment decisions or recommendations with respect to the investment, reinvestment, or sale of assets in the custodial accountCustodial Account. With regard to the Mutual Funds listed on the Application and any other Mutual Fund, the Depositor understands that neither the Custodian does not endorse nor the Distributor endorses the Mutual Funds as suitable investments for the Depositor. In addition, neither the Custodian nor the Distributor will not provide investment advice to the Depositor. The Depositor assumes all responsibility for the choice of his or his/her investments in the custodial accountCustodial Account. The Custodian shall not be responsible for reviewing any assets held in the custodial account Custodial Account and shall not be responsible for questioning any investment decision of the Depositor. The Custodian shall not be liable for any loss resulting from any action taken by the Custodian at the direction of the Depositor or any loss resulting from any failure to act because of the absence of directions from the Depositor. (c) The Custodian shall not be responsible for inquiring into the nature or amount of any contribution made by the Depositor, nor into the amount or timing of any distribution requested by the Depositor, or whether such contributions or distributions comply with the Code. The Depositor shall have full responsibility for any tax or investment consequences of all contributions to and distributions distribution from the custodial accountCustodial Account. (d) If the Custodian receives any investment instructions from the Depositor which, which in the opinion of the Custodian, are not in good order or are unclear, or if the Custodian receives monies from the Depositor which would exceed the amount that the Depositor may contribute to the custodial accountCustodial Account, the Custodian may hold all or a portion of the monies uninvested pending receipt of written (or in any other manner permitted by the CustodianDistributor) instructions or clarification. During any such delay the Custodian will not be liable for any loss of income or appreciation, loss of interest, or for any other loss. The Custodian may also return all or a portion of the monies to the Depositor. Again, in such situations, the Custodian will not be liable for any loss. (e) The Custodian will designate contributions (other than rollover contributions) as being made for any particular year as requested by the Depositor. If the Depositor does not designate a year for any contribution, the Custodian will designate the year the contribution was actually receivedmade. (f) The Custodian will accept transfers of a cash amount to the custodial account Custodial Account from another custodian or trustee of an Individual Retirement Accountindividual retirement account, Qualified Retirement Plan qualified retirement plan or Individual Retirement Annuity individual retirement annuity upon the Depositor's written direction. The Custodian will also transfer a cash amount in the custodial account Custodial Account upon the written request of the Depositor to another custodian or trustee of an Individual Retirement Account individual retirement account, qualified retirement plan or Annuityindividual retirement annuity. For such transfer, the Custodian may require a written acceptance of the successor custodian. The Depositor warrants that all transfers to and from the custodial account Custodial Account will be made in accordance with the rules and regulations of the Internal Revenue Service. (g) The Custodian is authorized to hire an agent to perform certain of its duties hereunder, which agent may be the transfer agent for the Mutual Fund shares authorized to be held hereunder. (h) The Depositor agrees to indemnify and hold harmless, and to defend the Custodian against any and all claims arising from and liabilities incurred by reason of any action taken by the Custodian in good faith pursuant to this Agreement.

Responsibilities of Custodian. (a) The Custodian shall maintain the custodial account, distinct from all other custodial accounts, for the exclusive benefit of the Depositor Participant and the DepositorParticipant's beneficiaries and shall be responsible for performing only such services as are described in this Agreement. (b) All contributions by the Depositor Participant to the custodial account shall be invested according to Article 8.1 hereof at the sole direction of the DepositorParticipant, and the Custodian shall not be responsible or liable for any investment decisions or recommendations with respect to the investment, reinvestment, or sale of assets in the custodial account. With regard to the Mutual Funds listed on the Application and any other Mutual Fund, the Depositor Participant understands that the Custodian does not endorse the Mutual Funds as suitable investments for the DepositorParticipant. In addition, the Custodian will not provide investment advice to the DepositorParticipant. The Depositor Participant assumes all responsibility for the choice of his or her investments in the custodial account. The Custodian shall not be responsible for reviewing any assets held in the custodial account and shall not be responsible for questioning any investment decision of the DepositorParticipant. The Custodian shall not be liable for any loss resulting from any action taken by the Custodian at the direction of the Depositor Participant or any loss resulting from any failure to act because of the absence of directions from the DepositorParticipant. (c) The Custodian shall not be responsible for inquiring into the nature or amount of any contribution made by the DepositorParticipant, nor into the amount or timing of any distribution requested by the DepositorParticipant, or whether such contributions or distributions comply with the Code. The Depositor Participant shall have full responsibility for any tax or investment consequences of all contributions to and distributions from the custodial account. (d) If the Custodian receives any investment instructions from the Depositor Participant which, in the opinion of the Custodian, are not in good order or are unclear, or if the Custodian receives monies from the Depositor Participant which would exceed the amount that the Depositor Participant may contribute to the custodial account, the Custodian may hold all or a portion of the monies uninvested pending receipt of written (or in any other manner permitted by the Custodian) instructions or clarification. During any such delay the Custodian will not be liable for any loss of income or appreciation, loss of interest, or for any other loss. The Custodian may also return all or a portion of the monies to the DepositorParticipant. Again, in such situations, the Custodian will not be liable for any loss. (e) The Custodian will designate contributions (other than rollover contributions) as being made for any particular year as requested by the DepositorParticipant's employer. If the Depositor Participant's employer does not designate a year for any contribution, the Custodian will designate the year the contribution was actually received. (f) The Custodian will accept transfers of a cash amount to the custodial account from another custodian or trustee of an a SIMPLE Individual Retirement Account, Qualified Retirement Plan or Individual Retirement Annuity Account upon the DepositorParticipant's written direction. The Custodian will also transfer a cash amount in the custodial account upon the written request of the Depositor Participant to another custodian or trustee of an Individual Retirement Account or Annuity. For such transfer, the Custodian may require a written acceptance of the successor custodian. The Depositor Participant warrants that all transfers to and from the custodial account will be made in accordance with the rules and regulations of the Internal Revenue Service. (g) The Custodian is authorized to hire an agent to perform certain of its duties hereunder, which agent may be the transfer agent for the Mutual Fund shares authorized to be held hereunder. (h) The Depositor Participant agrees to indemnify and hold harmless, and to defend the Custodian against any and all claims arising from and liabilities incurred by reason of any action taken by the Custodian in good faith pursuant to this Agreement.

Responsibilities of Custodian. (a) The Custodian shall maintain the custodial account, distinct from all other custodial accounts, for the exclusive benefit of the Depositor and the Depositor's beneficiaries and shall be responsible for performing only such services as are described in this Agreement. (b) All contributions by the Depositor to the custodial account shall be invested according to Article 8.1 hereof at the sole direction of the Depositor, and the Custodian shall not be responsible or liable for any investment decisions or recommendations with respect to the investment, reinvestment, or sale of assets in the custodial account. With regard to the Mutual Funds listed on the Application and any other Mutual Fund, the Depositor understands that the Custodian does not endorse the Mutual Funds as suitable investments for the Depositor. In addition, the Custodian will not provide investment advice to the Depositor. The Depositor assumes all responsibility for the choice of his or her investments in the custodial account. The Custodian shall not be responsible for reviewing any assets held in the custodial account and shall not be responsible for questioning any investment decision of the Depositor. The Custodian shall not be liable for any loss resulting from any action taken by the Custodian at the direction of the Depositor or any loss resulting from any failure to act because of the absence of directions from the Depositor. (c) The Custodian shall not be responsible for inquiring into the nature or amount of any contribution made by the Depositor, nor into the amount or timing of any distribution requested by the Depositor, or whether such contributions or distributions comply with the Code. The Depositor shall have full responsibility for any tax or investment consequences of all contributions to and distributions from the custodial account. (d) If the Custodian receives any investment instructions from the Depositor which, in the opinion of the Custodian, are not in good order or are unclear, or if the Custodian receives monies from the Depositor which would exceed the amount that the Depositor may contribute to the custodial account, the Custodian may hold all or a portion of the monies uninvested pending receipt of written (or in any other manner permitted by the Custodian) instructions or clarification. During any such delay the Custodian will not be liable for any loss of income or appreciation, loss of interest, or for any other loss. The Custodian may also return all or a portion of the monies to the Depositor. Again, in such situations, the Custodian will not be liable for any loss. (e) The Custodian will designate contributions (other than rollover contributions) as being made for any particular year as requested by the Depositor. If the Depositor does not designate a year for any contribution, the Custodian will designate the year the contribution was actually received. (f) The Custodian will accept transfers of a cash amount to the custodial account from another custodian or trustee of an Individual Retirement Account, Qualified Retirement Retire-ment Plan or Individual Retirement Annuity upon the Depositor's written direction. The Custodian will also transfer a cash amount in the custodial account upon the written request of the Depositor to another custodian or trustee of an Individual Retirement Account or Annuity. For such transfer, the Custodian may require a written acceptance of the successor custodian. The Depositor warrants that all transfers to and from the custodial account will be made in accordance with the rules and regulations of the Internal Revenue Service. (g) The Custodian is authorized to hire an agent to perform certain of its duties hereunder, which agent may be the transfer agent for the Mutual Fund shares authorized to be held hereunder. (h) The Depositor agrees to indemnify and hold harmless, and to defend the Custodian against any and all claims arising from and liabilities incurred by reason of any action taken by the Custodian in good faith pursuant to this Agreement.