Common use of Standard of Care for Delegated Authority Clause in Contracts

Standard of Care for Delegated Authority. In exercising the authority delegated under Article II, Section 2, the Custodian agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of the Assets would exercise.

Standard of Care for Delegated Authority. In exercising the authority ---------------------------------------- delegated under Article II, Section 2, the Custodian agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of the Assets would exerciseexercise in like circumstances.