Responsibility for Special Subcustodians. Notwithstanding the provisions of Section 17.3 to the contrary, the Custodian shall not be liable to the Client for Losses suffered or incurred by the Client resulting from the acts or omissions of a Special Subcustodian, except to the extent such Losses are caused by the negligence, wilful default or fraud of the Custodian. In the event of any such Loss, the Custodian shall use commercially reasonable efforts to enforce such rights as it may have against any Special Subcustodian.
Responsibility for Special Subcustodians. Notwithstanding the provisions of Section 17.3 to the contrary, the Custodian shall not be liable to the Trust for Losses suffered or incurred by the Trust resulting from the acts or omissions of a Special Subcustodian, except to the extent such Losses are caused by the negligence, wilful default or fraud of the Custodian. In the event of any such Loss, the Custodian shall use commercially reasonable efforts to enforce such rights as it may have against any Special Subcustodian. Information Classification: Limited Access
Responsibility for Special Subcustodians. Notwithstanding the provisions of Section E.2.3 to the contrary, State Street shall not be liable to the Client for Losses suffered or Information Classification: Limited Access incurred by the Client resulting from the acts or omissions of a Special Subcustodian, except to the extent such Losses are caused by State Street’s Negligence, bad faith, reckless disregard, willful misconduct, willful default or fraud. In the event of any such Losses, State Street shall use commercially reasonable efforts to enforce such rights as it may have against any Special Subcustodian.
