Common use of Unclaimed Property Services Clause in Contracts

Unclaimed Property Services. (A) Subject to the further provisions of this Section 3(a)(15) and to Sections 9(f) and 19(c), BNYM shall implement procedures on behalf of the Fund that are reasonably designed for the Fund to comply on a substantial basis with the Unclaimed Property Laws (as defined below) with respect to Eligible Property (as defined below). Subject to the limitation of liability provisions of Section 11, BNYM shall be liable to the Fund for Loss in connection with its performance of the Unclaimed Property Services (as defined below) solely if the Loss is caused by the negligent, grossly negligent, reckless, intentionally wrongful or fraudulent implementation of such procedures. In connection with its performance of the foregoing services (“Unclaimed Property Services”), BNYM shall implement procedures consistent with practices adopted by mutual funds and other mutual fund service providers, procedures it reasonably determines represent reasonable risk , or procedures based on communications with the agencies enforcing and administering the Unclaimed Property Laws, the administrative practices of such agencies and interpretations of the Unclaimed Property Laws by such agencies, and BNYM shall not be liable for reasonable conduct undertaken in accordance with the foregoing. For purposes of the foregoing: