Fines, Penalties and Excise Taxes. Provider shall be responsible for any fines, penalties and excise taxes incurred by either Party arising from any non-compliance by either Party with any Law due to the failure of Provider to perform in accordance with this Section 10.1, provided that BTC, on behalf of the Lending Fund, would be responsible for fines, penalties and excise taxes to the extent Provider has notified the BTC of the appropriate compliance procedures and the impacted Lending Fund fails to comply with such advice and the fines or penalties are imposed as a result of the Lending Fund’s failure to comply with such advice.
Appears in 3 contracts
Samples: Custody Services Agreement (iShares U.S. ETF Trust), Custody Services Agreement (iSHARES TRUST), Custody Services Agreement (iShares, Inc.)
Fines, Penalties and Excise Taxes. Provider shall be responsible for any fines, penalties and excise taxes incurred by either Party arising from any non-compliance by either Party with any Law due to the failure of Provider to perform in accordance with this Section 10.112.1, provided that BTC, on behalf of the Lending Fund, BFA Recipient would be responsible for fines, penalties and excise taxes to the extent Provider has notified the BTC BFA Recipient of the appropriate compliance procedures and the impacted Lending Fund BFA Recipient fails to comply with such advice and the fines or penalties are imposed as a result of the Lending FundBFA Recipient’s failure to comply with such advice.
Appears in 2 contracts
Samples: Master Services Agreement (iShares U.S. ETF Trust), Master Services Agreement (iSHARES TRUST)
Fines, Penalties and Excise Taxes. Provider shall be responsible for any fines, penalties and excise taxes incurred by either Party arising from any non-compliance by either Party with any Law due to the failure of Provider to perform in accordance with this Section 10.1, 12.1 provided that BTC, on behalf of the Lending Fund, BFA Recipient would be responsible for fines, penalties and excise taxes to the extent Provider has notified the BTC BFA Recipient of the appropriate compliance procedures and the impacted Lending Fund BFA Recipient fails to comply with such advice and the fines or penalties are imposed as a result of the Lending FundBFA Recipient’s failure to comply with such advice.
Appears in 1 contract
