Common use of No Liability for Certain Losses Clause in Contracts

No Liability for Certain Losses. The Custodian will not be liable to the Client for any Losses to the extent they arise from or are caused by: 17.7.1 the Custodian acting upon any (i) Proper Instruction or (ii) if a Proper Instruction is not required in a particular circumstance, any other instruction, information, notice, request, consent, certificate, instrument or other writing that the Custodian reasonably believes to be genuine and to be signed or otherwise given by or on behalf of a person authorized to do so; 17.7.2 a delay in processing or any failure to process any Proper Instruction to the extent permitted under Section 22, subject to the satisfaction of the conditions set out in that Section, as applicable, to the extent the Losses are not due to the Custodian’s negligence, fraud, bad faith or wilful misconduct; 17.7.3 the failure of the Client or any person authorized by it to comply with the Client’s obligations under this Agreement; or 17.7.4 any other acts and omissions of the Client, any person authorized by it or any third party whose acts or omissions are not otherwise addressed within this Section 17, including any Third-Party Agent, Market Participant, Authorized Data Source, CSD, or Financial Market Utility, to the extent the Losses are not due to the Custodian’s negligence, fraud, bad faith or wilful misconduct.