Common use of Responsibility for Sub-custodians Clause in Contracts

Responsibility for Sub-custodians. The Custodian shall be liable to the Company for any loss or damage to the Company caused by or resulting from the acts or omissions of any Sub-custodian (other than a Sub-Custodian directed to be appointed by the Trust) to the extent that such acts or omissions would be deemed to be negligence, gross negligence or willful misconduct in accordance with the terms of the relevant Sub-custodian agreement under the laws, circumstances and practices prevailing in the place where the act or omission occurred.

Responsibility for Sub-custodians. The Custodian may appoint Sub-custodians to perform its obligations hereunder. The Custodian shall be liable to the Company for any loss or damage to the Company caused by or resulting from the acts or omissions of any Sub-custodian (other than a Sub-Custodian directed to be appointed by the Trust) to the extent that such acts or omissions would be deemed to be negligence, gross negligence or willful misconduct in accordance with the terms of the relevant Sub-custodian agreement under the laws, circumstances and practices prevailing in the place where the act or omission occurred.