STANDARD OF CARE AS FOREIGN CUSTODY MANAGER OF A PORTFOLIO Sample Clauses
The 'Standard of Care as Foreign Custody Manager of a Portfolio' clause defines the level of diligence and responsibility required from a party managing the custody of portfolio assets in foreign jurisdictions. It typically outlines the expectations for safeguarding assets, monitoring foreign sub-custodians, and complying with applicable laws and regulations in each relevant country. This clause ensures that the foreign custody manager acts prudently and in the best interests of the portfolio, thereby protecting the portfolio owner from undue risk or negligence associated with holding assets abroad.
STANDARD OF CARE AS FOREIGN CUSTODY MANAGER OF A PORTFOLIO. In performing the responsibilities delegated to it, the Foreign Custody Manager agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of assets of management investment companies registered under the 1940 Act would exercise.
STANDARD OF CARE AS FOREIGN CUSTODY MANAGER OF A PORTFOLIO. In performing the responsibilities delegated to it, the Foreign Custody Manager shall exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of assets of management investment companies registered under the 1940 Act would exercise.
STANDARD OF CARE AS FOREIGN CUSTODY MANAGER OF A PORTFOLIO. In performing the responsibilities delegated to it, the FCM agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of assets of management investment companies registered under the 1940 Act would exercise.
STANDARD OF CARE AS FOREIGN CUSTODY MANAGER OF A PORTFOLIO. In performing the responsibilities delegated to it, the FCM agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of assets of management investment companies registered under the 1940 Act would exercise.