Common use of RESPONSIBILITY AND LIABILITY FOR PAST RECORDS Clause in Contracts

RESPONSIBILITY AND LIABILITY FOR PAST RECORDS. The Custodian shall have no liability in respect of any loss, damage, claim, cost, expense or other liability suffered by the Customer insofar as such loss, damage, claim, cost expense or other liability arises from the performance of the Custodian’s duties hereunder by reason of the Custodian’s reliance upon records that were maintained for the Customer by entities other than the Custodian prior to the Custodian’s appointment as custodian for the Customer and the Customer Assets.