Common use of Liability in General Clause in Contracts

Liability in General. Except as otherwise provided in this Agreement, the Custodian shall be responsible for loss or damage which the Fund may incur by reason of the Custodian's negligence, bad faith or willful malfeasance, PROVIDED ALWAYS that such loss or damage shall be limited to direct damages incurred by the Fund, and PROVIDED FURTHER that the Custodian shall in no event be liable for indirect or consequential damages or for loss of goodwill, even if the Custodian has been advised of the likelihood of such loss or damage and regardless of the form of action. Upon the occurrence of any event that causes or may cause any loss to the Fund, the Custodian shall, upon becoming aware of such event use its reasonable efforts consistent with the applicable subcustodian agreement to cause any Subcustodian to use all commercially reasonable efforts and to take any reasonably available steps under the circumstances to mitigate the effects of such event and to avoid continuing harm to the Fund.