Responsibilities definition
Examples of Responsibilities in a sentence
BNY accepts the Board’s delegation of Responsibilities with respect to each Specified Country and agrees in performing the Responsibilities as a Foreign Custody Manager to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of the Fund’s foreign assets would exercise acting without bad faith, negligence, willful misconduct, willful misfeasance, fraud or reckless disregard of its duties and obligations under this Agreement (“Standard of Care”).
With respect to the Foreign Assets of the Fund serviced by BNY pursuant to the Custody Agreement, the Fund on behalf of its Board hereby delegates to BNY with respect to each Specified Country the Responsibilities.
The Funds on behalf of its Board hereby delegate to BNY with respect to each Specified Country the Responsibilities.
BNY accepts the Board’s delegation of Responsibilities with respect to each Specified Country and agrees in performing the Responsibilities as a Foreign Custody Manager to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of the Funds’ assets would exercise.