Common use of Tax Laws Clause in Contracts

Tax Laws. The Custodian shall have no responsibility or liability for any obligations now or hereafter imposed on a Fund or on the Custodian as custodian for such Fund by the tax law of any country or of any state or political subdivision thereof. Each Fund agrees to indemnify the Custodian for and against any such obligations including taxes, tax reclaims, withholding and reporting requirements, claims for exemption or refund, additions for late payment, interest, penalties and other expenses (including legal expenses) that may be assessed against the Fund or the Custodian as custodian of a Fund. Notwithstanding the foregoing in this Section 13, the Custodian shall be liable to such Fund (and such Fund shall have no indemnification obligation) to the extent any such tax obligation is due to the negligence, bad faith or willful misconduct of the Custodian or its reckless disregard of its duties and obligations under this Agreement.

Tax Laws. The Custodian shall have no responsibility or liability for any obligations now or hereafter imposed on a the Fund or on the Custodian as custodian for such the Fund by the tax law of any country or of any state or political subdivision thereof. Each The Fund agrees to indemnify the Custodian for and against any such obligations including taxes, tax reclaims, withholding and reporting requirements, claims for exemption or refund, additions for late payment, interest, penalties and other expenses (including legal expenses) that may be assessed against the Fund or the Custodian as custodian of a Fund. Notwithstanding the foregoing in this Section 13, the Custodian shall be liable to such Fund (and such Fund shall have no indemnification obligation) to the extent any such tax obligation is due to the negligence, bad faith or willful misconduct of the Custodian or its reckless disregard of its duties and obligations under this Agreement.

Tax Laws. The Custodian shall have no responsibility or liability for any obligations now or hereafter imposed on a Fund or on the Custodian as custodian for such Fund by the tax law of any country or of any state or political subdivision thereof. Each Fund agrees to indemnify the Custodian for and against any such obligations including taxes, tax reclaims, withholding and reporting requirements, claims for exemption or refund, additions for late payment, interest, penalties and other expenses (including legal expenses) that may be assessed against the Fund or the Custodian as custodian of a Fund. Notwithstanding the foregoing in this Section 13, the Custodian shall be liable to such Fund (and such Fund shall have no indemnification obligation) to the extent any such tax obligation is due to the negligence, bad faith or willful misconduct of the Custodian or its Custodian, the Custodian’s reckless disregard of its duties and obligations under this Agreement, or the Custodian’s breach of the terms of this Agreement or any contract between a Fund and the Custodian.

Tax Laws. The Custodian shall have no responsibility or liability for any obligations now or hereafter imposed on a Fund or on the Custodian solely in connection with its activities as custodian for such Fund by the tax law of any country or of any state or political subdivision thereof. Each Fund agrees to indemnify the Custodian for and against any such obligations including taxes, tax reclaims, withholding and reporting requirements, claims for exemption or refund, additions for late payment, interest, penalties and other expenses (including legal expenses) that may be assessed against the Fund or the Custodian as custodian of a Fund. Notwithstanding the foregoing in this Section 13, the Custodian shall be liable to such Fund (and such Fund shall have no indemnification obligation) to the extent any such tax obligation is due to the negligence, bad faith or willful misconduct of the Custodian or its reckless disregard of its duties and obligations under this Agreement.