Common use of Responsibility for Subcustodians Clause in Contracts

Responsibility for Subcustodians. With respect to those Subcustodians listed on Appendix "A" hereto, the Custodian shall be liable to the Fund for any loss or damage to the Fund caused by or resulting from the acts omissions of any Subcustodian 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 subcustodian agreement under the laws, circumstances and practices prevailing in the place where the act or omission occurred. In the countries indicated in Appendix "B" to this Agreement, the liability of the Custodian shall be subject to the additional condition that the Custodian actually recovers such loss or damage from the Subcustodian.

Responsibility for Subcustodians. With respect to those Subcustodians listed on Appendix "A" hereto, the Custodian shall be liable to the Fund Trust for any loss or damage to the Fund Trust caused by or resulting from the acts omissions of any Subcustodian 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 subcustodian agreement under the laws, circumstances and practices prevailing in the place where the act or omission occurred. In the countries indicated in Appendix "B" to this Agreement, the liability of the Custodian shall be subject to the additional condition that the Custodian actually recovers such loss or damage from the Subcustodian.