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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def init_quotas(sender, instance, created=False, **kwargs):
 """ Initialize new instances quotas """

    if not created:
        return
    for field in sender.get_quotas_fields():
        try:
            field.get_or_create_quota(scope=instance)
        except CreationConditionFailedQuotaError:
            pass