STANDARD OF CARE AS FOREIGN CUSTODY MANAGER. In performing its delegated responsibilities as the Fund's Foreign Custody Manager, Wachovia agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of a Portfolio's Foreign Assets under the 1940 Act would exercise. In particular, regardless of whether assets are maintained in the custody of an Eligible Foreign Custodian or an Eligible Securities Depository, Wachovia shall be liable to the Fund for the acts or omissions of an Eligible Foreign Custodian where that Eligible Foreign Custodian has not acted with reasonable care.
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Samples: Wachovia Bank National Association Fund Custody Agreement (Tortoise North American Energy Corp), Mutual Fund Custody Agreement (Tilson Investment Trust), Country Sub (Aha Investment Funds Inc)
STANDARD OF CARE AS FOREIGN CUSTODY MANAGER. In performing its delegated responsibilities as the Fund's ’s Foreign Custody Manager, Wachovia agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of a Portfolio's ’s Foreign Assets under the 1940 Act would exercise. In particular, regardless of whether assets are maintained in the custody of an Eligible Foreign Custodian or an Eligible Securities Depository, Wachovia shall be liable to the Fund for the acts or omissions of an Eligible Foreign Custodian where that Eligible Foreign Custodian has not acted with reasonable care.
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Samples: Mutual Fund Custody Agreement (Old Mutual Advisor Funds)