Common use of Responsibility of the Custodian Clause in Contracts

Responsibility of the Custodian. In performing its duties and obligations hereunder, the Custodian shall use commercially reasonable care under the facts and circumstances prevailing in the market where performance is effected. Subject to the specific provisions of this Section, the Custodian shall be liable for any direct damage incurred by the Fund in consequence of the Custodian's negligence, bad faith or willful misconduct. In no event shall either party be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if such party has been advised of the possibility of such damages. The parties hereto agree that third-party claims arising out of the performance of services by Custodian under this Agreement shall be deemed direct damages. It is agreed that the Custodian shall have no duty to assess the risks inherent in the Fund's Investments or to provide investment advice with respect to such Investments and that the Fund as principal shall bear any risks attendant to particular Investments such as failure of counterparty or issuer.

Responsibility of the Custodian. In performing its duties and obligations hereunder, the Custodian shall use commercially reasonable care care, prudence and diligence that is expected of a custodian for hire under the facts and circumstances prevailing in the market where performance is effectedeffected (the “Standard of Care”). Subject to the specific provisions of this Section, the Custodian shall be liable for any direct damage incurred or loss suffered by the Fund in consequence of the Custodian's ’s negligence, bad faith or willful misconduct, as well as for reasonable attorneys fees not to exceed $250,000, provided that the parties shall cooperate in good faith to mitigate and minimize the amount and scope of said attorneys fees. In no event shall either party the Custodian be liable hereunder for any special, indirect, punitive or consequential damages or losses arising out of, pursuant to or in connection with this Agreement even if such party the Custodian has been advised of the possibility of such damages. The parties hereto agree that third-party claims arising out of the performance of services by Custodian under this Agreement shall be deemed direct damagesdamages or losses. It is agreed that the Custodian shall have no duty to assess the risks inherent in the Fund's ’s Investments or to provide investment advice with respect to such Investments and that the Fund as principal shall bear any risks attendant to particular Investments such as failure of counterparty or issuer.

Responsibility of the Custodian. In performing its duties and obligations hereunder, the Custodian shall use commercially reasonable care under the facts and circumstances prevailing in the market where performance is effected. Subject to the specific provisions of this Section, the Custodian shall be liable for any direct damage incurred by the Fund in consequence of the Custodian's ’s negligence, bad faith or willful misconduct. In no event shall either party be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if such party has been advised of the possibility of such damages. The parties hereto agree that third-party claims arising out of the performance of services by Custodian under this Agreement shall be deemed direct damages. It is agreed that the Custodian shall have no duty to assess the risks inherent in the Fund's ’s Investments or to provide investment advice with respect to such Investments and that the Fund as principal shall bear any risks attendant to particular Investments such as failure of counterparty or issuer.

Responsibility of the Custodian. In performing its duties and obligations hereunder, the Custodian shall use commercially reasonable care under the facts and circumstances prevailing in the market where performance is effected. Subject to the specific provisions of this Section, the Custodian shall be liable to the Fund for any direct damage incurred by the Fund or a Portfolio in consequence of the Custodian's ’s (or its employees’, officers’ or other agents’) negligence, bad faith or willful misconduct. In no event shall either party Custodian be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if such party has been advised of the possibility of such damages. The parties hereto agree that third-In no event shall the Fund be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if advised of the possibility of such damages, except with respect to third party claims arising out brought against the Custodian or its Agents with respect to any act or omission of the performance of services by Custodian under or its Agents in accordance with this Agreement shall be deemed direct damagesAgreement. It is agreed that the Custodian shall have no duty to assess the risks inherent in the Fund's ’s Investments or to provide investment advice with respect to such Investments and that the Fund and its Portfolios as principal shall bear any risks attendant to particular Investments such as failure of counterparty or issuer.

Responsibility of the Custodian. In performing its duties and obligations hereunder, the Custodian shall use commercially reasonable care under the facts and circumstances prevailing in the market where performance is effected. Subject to the specific provisions of this Section, the Custodian shall be liable to the Fund for any direct damage incurred by the Fund or a Portfolio in consequence of the Custodian's (or its employees’, officers’ or other agents’) negligence, bad faith or willful misconduct. In no event shall either party Custodian be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if such party has been advised of the possibility of such damages. The parties hereto agree that third-In no event shall the Fund be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if advised of the possibility of such damages, except with respect to third party claims arising out brought against the Custodian or its Agents with respect to any act or omission of the performance of services by Custodian under or its Agents in accordance with this Agreement shall be deemed direct damagesAgreement. It is agreed that the Custodian shall have no duty to assess the risks inherent in the Fund's ’s Investments or to provide investment advice with respect to such Investments and that the Fund and its Portfolios as principal shall bear any risks attendant to particular Investments such as failure of counterparty or issuer.

Responsibility of the Custodian. In performing its duties and obligations hereunder, the Custodian shall use commercially reasonable care under the facts and circumstances prevailing in the market where performance is effected. Subject to the specific provisions of this Section, the Custodian shall be liable to the Fund for any direct damage incurred by the Fund or a Portfolio in consequence of the Custodian's (or its employees', officers' or other agents') negligence, bad faith or willful misconduct. In no event shall either party the Custodian be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if such party has been advised of the possibility of such damages. The parties hereto agree that third-In no event shall the Fund be liable hereunder for any special, indirect, punitive or consequential damages arising out of, pursuant to or in connection with this Agreement even if advised of the possibility of such damages, except with respect to third party claims arising out brought against the Custodian or its Agents with respect to any act or omission of the performance of services by Custodian under or its Agents in accordance with this Agreement shall be deemed direct damagesAgreement. It is agreed that the Custodian shall have no duty to assess the risks inherent in the Fund's Investments or to provide investment advice with respect to such Investments and that the Fund and its Portfolios as principal shall bear any risks attendant to particular Investments such as failure of counterparty or issuer.