Common use of Performance of Duties and Standard of Care Clause in Contracts

Performance of Duties and Standard of Care. The Bank shall exercise reasonable care in accordance with reasonable commercial standards in performing its duties under this Consolidated Agreement, including when placing and maintaining financial assets corresponding to the Fund’s security entitlements with a securities depository or an intermediary custodian. In performing its duties hereunder and any other duties listed on any Schedule hereto, if any, the Bank will be entitled to receive and act upon the advice of independent counsel of its own selection, which may be counsel for the Fund, and will be without liability for any action taken or thing done or omitted to be done in accordance with this Consolidated Agreement in good faith in conformity with such advice. The Bank will be under no duty or obligation to inquire into and will not be liable for:

Performance of Duties and Standard of Care. The Bank shall exercise reasonable care in accordance with reasonable commercial standards in performing its duties under this Consolidated Agreement, including when placing and maintaining financial assets corresponding to the Fund’s security entitlements with a securities depository or an intermediary custodian. In performing its duties hereunder and any other duties listed on any Schedule hereto, if any, the Bank will be entitled to receive and act upon the advice of independent counsel of its own selection, which may be counsel for the Fund, and will be without liability for any action taken or thing done or omitted to be done in accordance with this Consolidated Agreement in good faith in conformity with such advice. The Bank will be under no duty or obligation to inquire into and will not be liable for: