Common use of Foreign Custody Clause in Contracts

Foreign Custody. The Sub-Advisor agrees to review a periodic report and related risk analysis provided by the Bank of New York regarding the use of eligible foreign securities depositories; to consider the information contained in and referred to in the report when determining whether to invest Fund assets in foreign jurisdictions where assets would be held in such securities depositories; and to confirm in writing such review and consideration each quarter upon request by Advisor. This paragraph 2(m) shall not be construed to impose any liability on the Sub-Advisor for any investment losses incurred by the Fund in connection with investment of the Fund’s assets in foreign jurisdictions where such assets are held in a securities depository, unless such investments are not permitted by: (i) this Agreement; (ii) the Prospectus; or (iii) the Trust Compliance Policies.