CUSTODIAN SERVICES AGREEMENT ---------------------------- THIS AGREEMENT is made as of March 13, 2003 by and between PFPC TRUST COMPANY ("PFPC Trust"), and EXCELSIOR BUYOUT INVESTORS, LLC (the "Fund"). W I T N E S S E T H: WHEREAS, the Fund is a...Custodian Services Agreement • April 16th, 2003 • Excelsior Buyout Investors LLC
