Common use of Scope of Master Custodial Administration Agreement Administrator’s Liability Clause in Contracts

Scope of Master Custodial Administration Agreement Administrator’s Liability. To the extent permitted by applicable law, the Master Custodial Administration Agreement Administrator shall not be liable for losses of any kind that may result (a) by reason of any action taken by it in accordance with the directions or instructions of the Participant, Employer, the Plan Administrator, the Investment Manager, or other authorized person, (b) by reason of any failure to act as a result of the absence of required directions or instructions, (c) by reason of any actions taken by any prior Master Custodial Administration Agreement Administrator, additional Master Custodial Administration Agreement Administrator or successor Master Custodial Administration Agreement Administrator or custodian acting on behalf of the Participant, Participating Plan, or (d) for assets that are not included in the Custodial Account. The Master Custodial Administration Agreement Administrator has no duty to perform any actions other than those specified in this Agreement or pursuant to proper instructions.