Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall be liable for the actions or omissions of any Subcustodian to the same extent as if such act or omission was performed by the Bank itself. In the event of any Losses suffered or incurred by a Customer caused by or resulting from the actions or omissions of any Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in the amount of any such Losses. Bank shall also be liable for losses that result from the insolvency of any Affiliated Subcustodian.
Appears in 18 contracts
Samples: Accounting Agreement (JPMorgan Trust I), Fund Accounting Agreement (Jpmorgan Trust Ii), Fund Accounting Agreement (Jpmorgan Trust Iv)
Liability for Subcustodians. (a) Subject to Section 7.1(b), Bank shall be liable for the actions or omissions of any Subcustodian anySubcustodian to the same extent as if such act or omission was performed by the Bank itself. In the event of any Losses suffered or incurred by a Customer caused by or resulting from the actions or omissions of any Subcustodian for which the Bank would otherwise be liable, the Bank shall promptly reimburse such Customer in Customerin the amount of any such Losses. Bank shall also be liable for losses that result from the insolvency of any Affiliated Subcustodian.
Appears in 8 contracts
Samples: Custody Agreement (One Group Investment Trust), Accounting Agreement (One Group Mutual Funds), Accounting Agreement (Jpmorgan Insurance Trust)
