IS TO ACCOUNTING PRINCIPLES AND PRACTICES APPLYING BY LAW OR OTHERWISE
WHICH ARE GENERALLY ACCEPTED AND CONSISTENTLY APPLIED IN AUSTRALIA, AND A
REFERENCE TO AN ACCOUNTING TERM IS TO BE INTERPRETED ACCORDING TO THOSE
PRINCIPLES AND PRACTICES;
(J)
ANY UNDERTAKING, REPRESENTATION,
WARRANTY OR INDEMNITY BY TWO OR MORE PARTIES (INCLUDING WHERE TWO OR MORE
PERSONS ARE INCLUDED IN THE SAME DEFINED TERM) BINDS THEM JOINTLY AND SEVERALLY;
AND
(K)
A COVENANT OR AGREEMENT ON THE PART OF TWO
OR MORE PERSONS BINDS THEM JOINTLY AND SEVERALLY; AND
(L)
A DEFAULT SUBSISTS UNTIL EITHER REMEDIED
TO THE LENDER'S SATISFACTION OR WAIVED BY THE LENDER IN WRITING.
65
20.4
BUSINESS DAY
(A)
SUBJECT TO CLAUSE 20.4(A), IF THE DAY ON
WHICH ANY THING IS TO BE DONE UNDER THIS AGREEMENT IS NOT A BUSINESS DAY, THEN
THAT THING MUST BE DONE ON THE NEXT BUSINESS DAY.
(B)
IF A PAYMENT IS DUE ON A DAY WHICH IS NOT A
BUSINESS DAY, THE DUE DATE FOR THAT PAYMENT IS THE NEXT BUSINESS DAY IN THE SAME
CALENDAR MONTH OR, IF NONE, THE PRECEDING BUSINESS DAY, AND INTEREST MUST BE
ADJUSTED ACCORDINGLY.
20.5
LENDER'S LIMITATION OF LIABILITY
(A)
THE LENDER ENTERS INTO THIS AGREEMENT SOLELY
IN ITS CAPACITY AS CUSTODIAN OF THE CAUSEWAY AUSTRALASIAN PRIVATE DEBT
OPPORTUNITIES FUND ARSN 125 168 587 (FUND) AND IT WILL UNDERTAKE ALL COVENANTS,
TERMS AND CONDITIONS ON ITS PART TO BE OBSERVED OR PERFORMED SOLELY IN THAT
CAPACITY. NO DEBT, DUTY, LIABILITY OR OBLIGATION ARISING UNDER THIS AGREEMENT
WILL ACCRUE TO, OR BE ENFORCEABLE AGAINST, THE LENDER IN ITS PERSONAL CAPACITY.
THE LENDER CEASES TO HAVE ANY OBLIGATIONS AND LIABILITIES UNDER THIS AGREEMENT
IF THE LENDER CEASES FOR ANY REASON TO BE CUSTODIAN OF THE FUND.
(B)
THE LENDER IS NOT REQUIRED TO SATISFY ANY
LIABILITY ARISING UNDER OR IN RESPECT OF THIS AGREEMENT OUT OF ANY FUNDS,
PROPERTY OR ASSETS OTHER THAN TO THE EXTENT TO WHICH IT IS ENTITLED TO AND DOES
ACTUALLY OBTAIN AN INDEMNITY FROM THE RESPONSIBLE ENTITY OF THE FUND. HOWEVER,
THIS DOES NOT APPLY TO THE EXTENT THAT THE LENDER'S RIGHT TO BE INDEMNIFIED BY
THE RESPONSIBLE ENTITY OF THE FUND HAS BEEN REDUCED BY REASON OF FRAUD,
NEGLIGENCE OR BREACH BY THE LENDER IN THE PERFORMANCE OF THE LENDER'S DUTIES AS
CUSTODIAN OF THE FUND.
(C)
IF ANY PARTY TO THIS AGREEMENT OTHER THAN THE
LENDER DOES NOT RECOVER ALL MONEY OWING TO IT IN UNDER THIS AGREEMENT IT MAY NOT
SEEK TO RECOVER THE SHORTFALL BY BRINGING PROCEEDINGS AGAINST THE LENDER IN ITS
PERSONAL CAPACITY OR APPLYING TO HAVE THE LENDER WOUND UP OR PROVING IN THE
WINDING UP OF THE LENDER.
(D)
THE LENDER IS NOT OBLIGED TO DO OR REFRAIN
FROM DOING ANYTHING UNDER THIS AGREEMENT (INCLUDING INCURRING ANY LIABILITY)
UNLESS ITS LIABILITY IS LIMITED IN THE SAME MANNER AS SET OUT IN THIS CLAUSE.
20.6
MCLAUGHLINS FINANCIAL SERVICES LIMITED LIMITATION OF
LIABILITY
(A)
EACH PARTY ACKNOWLEDGES THAT MCLAUGHLINS
FINANCIAL SERVICES LIMITED ABN 65 088 647 796