Common use of Appointment of Sub Clause in Contracts

Appointment of Sub. custodians. ▇▇ ▇▇▇▇▇▇ may appoint sub-custodians, including its own Affiliates, of assets held by or through ▇▇ ▇▇▇▇▇▇ in your accounts. ▇▇ ▇▇▇▇▇▇ will exercise reasonable skill, care and diligence in the selection of any such sub-custodian and will be responsible to you for satisfying itself as to the ongoing suitability of such sub-custodian to provide custodial services, will maintain an appropriate level of supervision over such sub-custodian and will make appropriate inquiries periodically to confirm that the obligations of such sub-custodian continue to be competently discharged. Anything herein to the contrary notwithstanding, ▇▇ ▇▇▇▇▇▇ will be liable only for loss or damage (subject to the limitations in Section 14 above) arising out of the insolvency, acts or omissions of any sub-custodian appointed by it that is an Affiliate, but shall not be liable for any such loss or damage arising out of the insolvency, acts or omissions of any sub-custodian appointed by it that is not an Affiliate, provided that ▇▇ ▇▇▇▇▇▇ has complied with its undertakings in the preceding sentence.

Appointment of Sub. custodians. ▇▇ ▇▇▇▇▇▇ may appoint sub-custodians, including its own Affiliates, of assets held by or through ▇▇ ▇▇▇▇▇▇ in your accounts. ▇▇ ▇▇▇▇▇▇ will exercise reasonable skill, care and diligence in the selection of any such sub-custodian and will be responsible to you for satisfying itself as to the ongoing suitability of such sub-custodian to provide custodial services, will maintain an appropriate level of supervision over such sub-custodian and will make appropriate inquiries periodically to confirm that the obligations of such sub-custodian continue to be competently discharged. Anything herein to the contrary notwithstanding, ▇▇ ▇▇▇▇▇▇ will be liable only for loss or damage (subject to the limitations in Section 14 above) arising out of the insolvency, acts or omissions of any sub-custodian appointed by it that is an Affiliate, but shall not be liable for any such loss or damage arising out of the insolvency, acts or omissions of any sub-custodian appointed by it that is not an Affiliate, provided that ▇▇ ▇▇▇▇▇▇ has complied with its undertakings in the preceding sentence. Upon your request, JPMCC will provide you with a list that identifies the subcustodians selected by ▇▇ ▇▇▇▇▇▇ from time to time, such information may also be accessed through JPMCC’s online ▇▇▇▇▇▇ Prime web-based interface (or similar system).