Responsibility of the Bank Clause Samples

Responsibility of the Bank. The Bank shall have no responsibility or liability to the Secured Party for executing settlements of Financial Assets held in the Account at the direction of an Authorized Person of the Customer, or complying with Entitlement Orders or other directions concerning the Account from an Authorized Person of the Customer which are received by the Bank before the Bank has received, and had a reasonable opportunity to comply with, a Notice of Exclusive Control. The Bank shall have no responsibility or liability to the Customer for complying with a Notice of Exclusive Control or complying with Entitlement Orders or other directives concerning the Account originated by the Secured Party following the Bank’s receipt of a Notice of Exclusive Control. The Bank shall have no duty to investigate or make any determination as to whether a default exists under any agreement between the Customer and the Secured Party and shall comply with a Notice of Exclusive Control even if it believes that no such default exists. This Agreement does not create any obligation or duty for the Bank other than those expressly set forth herein.

Responsibility of the Bank. The Bank shall have no responsibility or liability to the Secured Party for executing settlements of Financial Assets held in the Custodial Account at the direction of the Customer or its authorized representatives, or complying with Entitlement Orders or other directions concerning the Custodial Account from the Customer or its authorized representatives, which are received by the Bank before the Bank has received, and had a reasonable opportunity to comply with, a Notice of Exclusive Control. The Bank shall have no responsibility or liability to the Customer for complying with a Notice of Exclusive Control or complying with Entitlement Orders or other directives concerning the Custodial Account originated by the Secured Party. The Bank shall have no duty to investigate or make any determination as to whether a default exists under any agreement between the Customer and the Secured Party and shall comply with a Notice of Exclusive Control even if it believes that no such default exists. This Agreement does not create any obligation or duty for the Bank other than those expressly set forth herein.

Responsibility of the Bank. The Bank, its officers, agents, and employees shall not be liable for errors of judgment either in holding Collateral initially delivered to it or in acquiring and afterwards holding additional Collateral as instructed by Member; nor for any loss arising out of any investment; nor for any depreciation in the value of any Collateral held by the Bank pursuant to this Agreement; nor for any act, or omission to act, performed or omitted by the Bank, its officers, employees, or agents, in the execution of this custodianship in good faith. The Bank shall be responsible for the safekeeping of any Collateral held by it pursuant to these Terms and Conditions, but in no event shall the Bank be liable to Member or Depositor for any special, consequential, incidental or punitive damages.

Responsibility of the Bank. (a) In the performance of its duties hereunder, the Bank shall be obligated to exercise care and diligence and to act in good faith and to use its best efforts to assure the accuracy and completeness of all services performed under this Agreement. Except as provided in (b) below, the Bank shall be responsible for all direct losses occasioned by the Bank's negligent failure to perform its duties under this Agreement, including but not limited to losses related to inaccuracies in the daily reports (upon which the Company and its agents rely in calculating the Fund's net asset value and in determining whether the Company and the Funds are in compliance with the 1940 Act and the requirements of Subchapter M of the Internal Revenue Code of 1986 (as amended) to be provided under Paragraph 17 hereof or otherwise. However, the Bank shall not be liable for any incidental, consequential or punitive damages. (b) The Bank shall assume entire responsibility for loss occasioned by robbery, burglary, fire, theft or mysterious disappearance irrespective of whether such losses occur while such Property is in possession of the Bank or the possession of one of the Bank's agents, nominees, depositories, correspondents or sub-custodians appointed pursuant to Paragraph 7 hereof or any Book-Entry System. In the event of any such loss the Bank's liability shall be limited to the replacement value thereof as of the date of the discovery of such loss and the Bank, at the Company's option, shall make prompt replacement of Property with like kind and quality or shall make prompt restitution to the Fund for such loss. In addition, in the event of any loss of the Property due to any other cause, unless the Bank can prove that it and its agents, nominees, depositories and correspondents were not negligent and did not act with willful misconduct, the Bank will be liable for such loss. Notwithstanding the foregoing, the Bank shall not be liable for losses occurring by reason of acts of civil or military authority, national emergencies, floods, acts of God, insurrections, wars, riots or similar catastrophes. (c) The Bank shall not have any duty or obligation to inquire (i) into the validity or invalidity or authority or lack thereof of any Oral or Written Instruction, notice or other instrument which conforms to the applicable requirements of this Agreement, if any, and which the Bank reasonably believes to be genuine; (ii) the validity or invalidity of the issuance of any securities inclu...

Responsibility of the Bank. 7.2.1. The Bank is responsible for violations associated with banking activity in accordance with legislation of the Republic of Kazakhstan and this Agreement. In any cases responsibility of the Bank upon violation of conditions of the Agreement is limited to the value of actual loss incurred to the Client in case of illegal actions/inactions of the Bank. For reimbursement of actual loss, the Client shall apply to the Bank in writing with attachment of confirming documents and indication of the amount of actual loss. After receipt of the above documents, the Bank will take decision upon request of the Client. 7.2.2. The Bank shall not take responsibility: 1) For operation of the Mobile Payment Service , its functions and interconnection with other applications installed on the Mobile device, or inability of the Client to use the Mobile Payment Service for certain transactions, including payments using Token; 2) For lack of possibility to transact with the use of the Token; 3) For any blocking, suspension, cancellation or cessation of use of the Payment card and/or Token; 4) For any losses or damages incurred to the Client due to loss, theft or damage of the Mobile device, loss and theft of login, password and other means of Client Verification for authorization in Mobile Payment Service; 5) for safety of information provided or stored by Providers or other third parties, in connection with Mobile Payment Service use; 6) for violation of safety regulations, influencing any collected, saved or sent information.

Responsibility of the Bank. Except for complying with the Debtor’s instructions in violation of Section 5, the Bank has no liability to Debtor for complying with the Trustee’s notice of exclusive control or complying with instructions concerning the Account given by the Trustee. This Agreement does not create any obligation or duty on the Bank other than those expressly set forth herein. Bank shall not be bound in any way by the terms of any agreement or contract between Debtor and Trustee or any other party, whether or not the Bank has knowledge thereof excluding this Agreement. Bank's only duties or responsibilities shall be to hold and disburse the funds in the Account, in accordance with the terms of this Agreement.

Responsibility of the Bank. The Bank shall be responsible for transferring the Customer's assets from the debiting account to the fund's subscription ac- count in accordance with this agreement. In addition to this agreement, the "General Terms and Conditions of Danske Bank's Account and Payment Services" and the schedule of service charges valid at any given time shall be applied, where applicable, to the debiting account and its use.

Responsibility of the Bank. The Bank shall carry out the Investment Manager’s requests and instructions, and book them in accordance with the Bank’s General Terms and Conditions which apply to the Accounts. The Bank may, without ever being obliged to do so, request written confirmation of a request or instruction

Responsibility of the Bank. The Bank shall have no responsibility or liability to the Secured Party for executing settlements of Financial Assets held in the Account at the direction of the Customer or its authorized representatives, or complying with Entitlement Orders or other directions concerning the Account from the Customer or its authorized representatives, which are received by the Bank before the Bank has received, and had a reasonable opportunity to comply with, a Notice of Exclusive Control. The Bank shall have no responsibility or liability to the Customer for complying with a Notice of Exclusive Control or complying with Entitlement Orders or other directives concerning the Account originated by the Secured Party. The Bank shall have no duty to investigate or make any determination as to whether a default exists under any agreement between the Customer and the Secured Party and shall comply with a Notice of Exclusive Control even if it believes that no such default exists. The Customer and Secured Party represent and warrant to Bank that the Secured Party may issue a Notice of Exclusive Control hereunder without a default existing under any agreement to which the Customer and Secured Party are parties. This Agreement does not create any obligation or duty for the Bank other than those expressly set forth herein.