DELEGATION TO THE CUSTODIAN AS FOREIGN CUSTODY MANAGER. Each Fund, by resolution adopted by its Board, hereby delegates to the Custodian, subject to Section (b) of Rule 17f-5, the responsibilities set forth in this Section 3.2 with respect to Foreign Assets of the Portfolios held outside the United States, and the Custodian hereby accepts such delegation as Foreign Custody Manager with respect to the Portfolios.
DELEGATION TO THE CUSTODIAN AS FOREIGN CUSTODY MANAGER. The Fund, by resolution adopted by its Board, hereby delegates to the Custodian, subject to Section (b) of Rule 17f-5, the responsibilities set forth in this Section 3.2 with respect to Foreign Assets of the Portfolios held outside the United States, and the Custodian hereby accepts such delegation as Foreign Custody Manager with respect to the Portfolios.
DELEGATION TO THE CUSTODIAN AS FOREIGN CUSTODY MANAGER. The Trust, by resolution adopted by its Board of Trustees of Trustees (the "Board of Trustees"), hereby delegates to the Custodian, subject to Section (b) of Rule 17f-5, the responsibilities as Foreign Custody Manager set forth in this Section 3.2 with respect to Foreign Assets of the Portfolios held outside the United States, and the Custodian hereby accepts such delegation as Foreign Custody Manager with respect to the Portfolios.
DELEGATION TO THE CUSTODIAN AS FOREIGN CUSTODY MANAGER. The Client, by resolution adopted by the Board, hereby delegates to the Custodian, subject to Section (b) of Rule 17f-5, the responsibilities set forth in this Section 1.2 with respect to Foreign Assets of the Client held outside the United States, and the Custodian hereby accepts such delegation as Foreign Custody Manager with respect to the Client.
DELEGATION TO THE CUSTODIAN AS FOREIGN CUSTODY MANAGER. Each Customer, by resolution or other approval by its Board, as applicable, hereby delegates to the Custodian, subject to Section (b) of Rule 17f-5, the responsibilities set forth in this Section 3.2 with respect to Foreign Assets of the applicable Customer held outside the United States, and the Custodian hereby accepts such delegation as Foreign Custody Manager with respect to the Customer.
DELEGATION TO THE CUSTODIAN AS FOREIGN CUSTODY MANAGER. The Fund, on behalf of each Portfolio, by resolution adopted by its Board of Trustees (the "Board"), hereby appoints the Custodian as the Foreign Custody Manager of each Portfolio and delegates to the Custodian the responsibilities set forth in this Article 3 with respect to Foreign Assets of each Portfolio held outside the United States, and the Custodian hereby accepts such delegation.
DELEGATION TO THE CUSTODIAN AS FOREIGN CUSTODY MANAGER. The Fund, on behalf of each Portfolio, by resolution adopted by its Board of Trustees (the “Board”), hereby appoints the Custodian as the Foreign Custody Manager of each Portfolio and delegates to the Custodian the responsibilities set forth in this Article 3 with respect to Foreign Assets of each Portfolio held outside the United States, and the Custodian hereby accepts such delegation.
DELEGATION TO THE CUSTODIAN AS FOREIGN CUSTODY MANAGER. The Fund, by resolution adopted by its Board of Trustees (the "Board"), hereby delegates to the Custodian, subject to Section (b) of Rule 17f-5, the responsibilities set forth in this Article 3 with RESPECT to Foreign Assets held outside the United States, and the Custodian hereby accepts such delegation, as Foreign Custody Manager of each Portfolio. In performing its delegated responsibilities as Foreign Custody Manager to place or maintain the Foreign Assets with an Eligible Foreign Custodian, the Foreign Custody Manager shall determine that the Foreign Assets will be subject to reasonable care, based on the standards applicable to custodians in the country in which the Foreign Assets will be held by that Eligible Foreign Custodian, after considering all factors relevant to the safekeeping of such assets, including, without limitation, the factors specified in Rule 17f-5(c)(1).
