Common use of Sub-custody Clause in Contracts

Sub-custody. In safekeeping the Customer’s Securities, the Bank may engage other domestic or foreign credit institutions, depositaries or other partners as so-called sub-custodians. The Bank shall ap- point a sub-custodian with due care. The Customer’s Securities are not necessarily kept at the sub-custodian in the name of the Customer, but the Bank may act as a joint custodian, in which case the Bank shall keep record of the ownership of the Securi- ties. The Customer is aware of the legal risks involved in such procedure and accepts them.

Sub-custody. In safekeeping the Customer’s Securities, the Bank may engage other domestic or foreign credit institutionsinstitu- tions, depositaries custodians or other partners as so-called sub-sub- custodians. The Bank shall ap- point appoint a sub-custodian with due care. The Customer’s Securities are not necessarily nec- essarily kept at the sub-custodian in the name of the Customer, but the Bank may act as a joint custodian, in which case the Bank shall keep record of the ownership owner- ship of the Securi- tiesSecurities. The Customer is aware of the legal risks involved in such procedure and accepts them.

Sub-custody. In safekeeping the Customer’s Securities, the Bank may engage other domestic or foreign credit institutions, depositaries custodians or other partners as so-called sub-sub- custodians. The Bank shall ap- point appoint a sub-custodian with due care. The Customer’s Securities are not necessarily kept at the sub-custodian in the name of the Customer, but the Bank may act as a joint custodian, in which case the Bank shall keep record of the ownership of the Securi- tiesSe- curities. The Customer is aware of the legal risks involved in- volved in such procedure and accepts them.