Common use of Acceptance of Securities Clause in Contracts

Acceptance of Securities. (a) The Bank shall accept delivery from and on behalf of the Depositor such Securities as shall, from time to time, be acceptable to it. Any Securities now held by the Bank for the Depositor under a prior custody agreement shall be deemed to have been deposited hereunder. The Bank shall have no responsibility to (i) determine the validity, genuineness or alteration of the Securities or related instruments delivered pursuant to the terms hereof; (ii) review the Securities; or (iii) provide advice to the Depositor relative to the purchase, retention, sale, exchange, disposition, call for redemption of the Securities or related instruments. The parties acknowledge that the Bank is performing the services hereunder merely as an aid to the Depositor, and this does not relieve the Depositor of its duty to manage and keep itself informed of information affecting its own portfolio. (b) The Bank shall supply to the Depositor from time to time as mutually agreed by the Bank and the Depositor a written statement with respect to all of the Securities held in the Account. In the event that the Depositor does not inform the Bank in writing of any exceptions or objections to such statement within sixty (60) days after receipt of such statement, the Depositor shall be deemed to have approved such statement. (c) The Bank shall segregate and identify on its books and records as belonging to the Depositor all Securities delivered by or for the account of the Depositor which are held by the Bank in the Account. (d) The Depositor authorizes the Bank, for any Securities held hereunder, to use the services of any United States central securities depository it deems appropriate and where it may hold any of its own securities, including, but not limited to, the Depository Trust Company and the Federal Reserve Book Entry System. The term "central securities depository" shall also include any depository service which acts as a custodian of securities in connection with a system for the central handling of securities whereby all securities of a particular class or series of any issuer deposited within the system are treated as fungible and may be transferred by bookkeeping entry without physical delivery of security certificates. Placement by the Bank of Securities into a central securities depository or safekeeping facility shall neither augment nor diminish the Bank's duties or obligations under any other paragraph of this Agreement, provided that the Bank shall have no liability for the acts or failure to act of any such central securities depository.

Acceptance of Securities. (a) The Bank Custodian shall accept delivery from and on behalf of the Depositor of such Securities as shall, from time to time, be acceptable to it. Any Securities now held by the Bank Custodian for the Depositor under a prior custody agreement security agreements shall be deemed to have been deposited hereunder. The Bank shall have no responsibility to (i) determine the validity, genuineness or alteration of the Securities or related instruments delivered pursuant to the terms hereof; (ii) review the Securities; or (iii) provide advice to the Depositor relative to the purchase, retention, sale, exchange, disposition, call for redemption of the Securities or related instruments. The parties acknowledge that the Bank is performing the services hereunder merely as an aid to the Depositor, and this does not relieve the Depositor of its duty to manage and keep itself informed of information affecting its own portfolio. (b) The Bank Custodian shall supply keep the Securities received by it hereunder separate and distinct from securities, documents, and property owned by itself or others to the Depositor from time to time end that each and every item received by it hereunder shall at all times be identified and identifiable as mutually agreed by the Bank and the Depositor a written statement with respect to all sole property of the Securities held in the Account. In the event that the Depositor does not inform the Bank in writing of any exceptions or objections to such statement within sixty (60) days after receipt of such statement, the Depositor shall be deemed to have approved such statementDepositor. (c) The Bank shall segregate and identify on Custodian may, in its books and records as belonging to discretion, safekeep the Depositor all Depositor's Securities delivered by or for the account of the Depositor which are held by the Bank in the Account. (d) The Depositor authorizes the Bank, for any Securities held hereunder, to use the services of any United States central a nationally recognized securities depository it deems appropriate and where it may hold any of its own securities, or safekeeping facility including, but not limited to, the Depository Trust Company and any facility operated by the Federal Reserve Book Entry System, any member of the Federal Reserve System, or any other agency or instrumentality of the United States Government. The term "central Such deposits by the Custodian into a securities depository" shall also include any depository service which acts as a custodian of securities in connection with a system for the central handling of securities whereby all securities of a particular class or series of any issuer deposited within the system are treated as fungible and safekeeping facility may be transferred by bookkeeping in book-entry without physical delivery of security certificatesform or such other form as the Custodian deems appropriate. Placement by the Bank Custodian of Securities into a central securities depository or safekeeping facility shall neither augment nor diminish the BankCustodian's duties or obligations responsibilities and rights under any other paragraph of this Agreement. If the Custodian shall hold the securities in a book entry account, provided that then: (i) the Bank Custodian shall have no liability only deposit the Depositor's securities in a non-proprietary account which includes only assets held for customers, (ii) the acts or failure to act custodian shall send the Depositor written confirmation of any transfer to or from the Depositor's account with the Custodian, (iii) the Custodian shall promptly, upon request, send the Depositor a copy of reports it receives from depository's system of internal account control, and (iv) the Custodian shall promptly send the Depositor such central securities depositoryreports on the Custodian's system of internal accounting control as the Depositor may from time to time request. (d) The Custodian is authorized to re-register the Securities in the name of the Custodian or its nominee if required for purposes of book entry deposit unless alternative and acceptable registration instructions are furnished by the Depositor.

Acceptance of Securities. (a) The Bank Custodian shall accept delivery from receive or deliver Securities and on behalf shall credit or debit the Cash Account in accordance with properly authorized Instructions, as described in Exhibit 7. Custodian shall also receive into custody all: (i) interest and dividends, including securities lending income in lieu of the Depositor such interest or dividends; and (ii) stock dividends, rights and similar Securities issues, in connection with Securities held by Custodian under this Agreement. Custodian shall also, in a timely manner, surrender all items maturing or called for redemption and shall take other action(s) as shall, from time to time, be acceptable to itTreasurer may direct in Instructions. Any Securities now held by the Bank Custodian for the Depositor Treasurer under a prior custody agreement Agreement shall be deemed to have been deposited hereunder. The Bank Custodian may hold any Securities delivered hereunder through any Affiliate of Custodian, provided that Custodian shall have no responsibility to (i) determine the validity, genuineness or alteration same responsibilities and liabilities for Securities held for the Account of Treasurer at an Affiliate of Custodian as it would if Custodian held the Securities or related instruments delivered pursuant to the terms hereof; (ii) review the Securities; or (iii) provide advice to the Depositor relative to the purchase, retention, sale, exchange, disposition, call directly. Accounting for redemption of the Securities or related instruments. The parties acknowledge that the Bank is performing the services hereunder merely as an aid to the Depositor, and this does not relieve the Depositor of its duty to manage and keep itself informed of information affecting its own portfolioall Security trades shall be on a contractual basis unless otherwise specified by Treasurer. (b) The Bank Custodian shall, subject to restrictions under applicable law, seek to obtain from any Subcustodian records of such entity relating to any Account as may be required by Treasurer or its agents. Upon a reasonable request from Treasurer, Custodian shall supply use its best efforts to the Depositor from time furnish to time as mutually agreed by the Bank and the Depositor a written statement with respect to all Treasurer reports (or portions thereof) of the Securities held in the Account. In the event that the Depositor does not inform the Bank in writing external auditors of any exceptions or objections each Subcustodian as related directly to such statement within sixty (60) days after receipt entity’s system of such statement, the Depositor shall be deemed internal accounting controls applicable to have approved such statementits duties under its Agreement with Custodian. (c) The Bank Custodian shall, upon request, supply to Treasurer, from time to time, written operational procedures, which shall segregate and identify on its books and records as belonging to govern the Depositor all Securities delivered by or for the account day-to-day operations of the Depositor which are held by the Bank in the AccountAccounts. (d) The Depositor authorizes the BankCustodian is authorized on Treasurer’s behalf to accept and open all mail or communications received by Custodian or directed in its care. (e) Custodian shall promptly notify Treasurer, Beneficial Owner or any authorized investment manager as described in Section 6.2(b), of any calls for any redemption, mergers, tenders, consolidations, reorganizations, recapitalizations or similar proceedings, affecting Securities held hereunder, to use in the services of any United States central securities depository it deems appropriate and where it may hold any of its own securities, including, but not limited to, the Depository Trust Company and the Federal Reserve Book Entry System. The term "central securities depository" shall also include any depository service which acts as a custodian of securities in connection with a system for the central handling of securities whereby all securities of a particular class or series of any issuer deposited within the system are treated as fungible and may be transferred by bookkeeping entry without physical delivery of security certificates. Placement by the Bank of Securities into a central securities depository or safekeeping facility shall neither augment nor diminish the Bank's duties or obligations under any other paragraph of this Agreement, provided that the Bank shall have no liability for the acts or failure to act of any such central securities depositoryAccounts.

Acceptance of Securities. (a) The Bank shall accept delivery from and on behalf of the Depositor such Securities as shall, from time to time, be acceptable to it. Any Securities now held by the Bank for the Depositor under a prior custody agreement shall be deemed to have been deposited hereunder. The Bank shall have no responsibility to (i) determine the validity, genuineness or alteration of the Securities or related instruments delivered pursuant to the terms hereof; (ii) review the Securities; or (iii) provide advice to the Depositor relative to the purchase, retention, sale, exchange, disposition, call for redemption of the Securities or related instruments. The parties acknowledge that the Bank is performing the services hereunder merely as an aid to the Depositor, and this does not relieve the Depositor of its duty to manage and keep itself informed of information affecting its own portfolio. (b) The Bank shall supply to the Depositor from time to time as mutually agreed by the Bank and the Depositor a written statement with respect to all of the Securities held in the Account. In the event that the Depositor does not inform the Bank in writing of any exceptions or objections to such statement within sixty (60) days after receipt of such statement, the Depositor shall be deemed to have approved such statement. (c) The Bank shall segregate and identify on its books and records as belonging to the Depositor all Securities delivered by or for the account of the Depositor which are held by the Bank in the Account. (d) The Depositor authorizes the Bank, for any Securities held hereunder, to use the services of any United States central securities depository it deems appropriate and where it may hold any of its own securities, including, but not limited to, the Depository Trust Company and the Federal Reserve Book Entry System. The term "“central securities depository" ” shall also include any depository service which acts as a custodian of securities in connection with a system for the central handling of securities whereby all securities of a particular class or series of any issuer deposited within the system are treated as fungible and may be transferred by bookkeeping entry without physical delivery of security certificates. Placement by the Bank of Securities into a central securities depository or safekeeping facility shall neither augment nor diminish the Bank's ’s duties or obligations under any other paragraph of this Agreement, provided that the Bank shall have no liability for the acts or failure to act of any such central securities depository.

Acceptance of Securities. (a) The Bank Custodian shall accept delivery from and on behalf of the Depositor Fund of such Securities as shall, from time to time, be acceptable to it. Any Securities now held by the Bank Custodian for the Depositor Fund under a prior custody agreement shall be deemed to have been deposited hereunder. The Bank Custodian may hold any Securities delivered hereunder through any affiliate of the Custodian, provided that the Custodian shall have no responsibility to (i) determine the validity, genuineness or alteration same resposibilities and liabilities for Securities held for the account of the Securities or related instruments delivered pursuant to the terms hereof; (ii) review the Securities; or (iii) provide advice to the Depositor relative to the purchase, retention, sale, exchange, disposition, call for redemption Fund at an affiliate of the Custodian as it would if it held the Securities or related instruments. The parties acknowledge that the Bank is performing the services hereunder merely as an aid to the Depositor, and this does not relieve the Depositor of its duty to manage and keep itself informed of information affecting its own portfoliodirectly. (b) The Bank Custodian shall supply to the Depositor Fund from time to time as mutually agreed by the Bank and the Depositor a written statement with respect to all of the Securities held in the AccountAccount established hereby. In the event that the Depositor Fund does not inform the Bank Custodian in writing of any exceptions or objections to such statement within sixty (60) days a reasonable time after receipt of such statement, the Depositor Fund shall be deemed to have approved such statement. (c) The Bank Custodian shall segregate and identify on its books and records as belonging to the Depositor Fund all Securities delivered by or for the account of the Depositor Fund which are held by the Bank in the AccountCustodian. (d) The Depositor Fund authorizes the BankCustodian, for any Securities held hereunder, to use the services of any United States central securities depository it deems appropriate and where it may hold any of its own securitiesSecurities, including, but not limited to, the Depository Trust Company and the Federal Reserve Book Entry System. The term "central securities depository" shall also include any depository service which acts as a custodian of securities in connection with a system for the central handling of securities whereby all securities of a particular class or series of any issuer deposited within the system are treated as fungible and may be transferred by bookkeeping entry without physical delivery of security certificates. Placement by the Bank Custodian of Securities into a central securities depository or safekeeping facility shall neither augment nor diminish the BankCustodian's duties or obligations under any other paragraph of this Agreement, provided that the Bank Custodian shall have no liability for the acts or failure to act of any such central securities depository. (e) The Custodian is authorized to re-register the Securities in the name of the Custodian or its nominee unless alternative and acceptable registration instructions are furnished by the Fund.

Acceptance of Securities. (a) The Bank Custodian shall accept delivery from receive or deliver Securities and on behalf shall credit or debit the Cash Account in accordance with properly authorized Instructions, as described in Exhibit 5. Custodian shall also receive into custody all: (i) interest and dividends, including securities lending income in lieu of the Depositor such interest or dividends; and (ii) stock dividends, rights and similar Securities issues, in connection with Securities held by Custodian under this Agreement. Custodian shall also, in a timely manner, surrender all items maturing or called for redemption and shall take other action(s) as shall, from time to time, be acceptable to itTreasurer may direct in Instructions. Any Securities now held by the Bank Custodian for the Depositor Treasurer under a prior custody agreement Agreement shall be deemed to have been deposited hereunder. The Bank Accounting for all Security trades shall have no responsibility to (i) determine the validity, genuineness or alteration of the Securities or related instruments delivered pursuant to the terms hereof; (ii) review the Securities; or (iii) provide advice to the Depositor relative to the purchase, retention, sale, exchange, disposition, call for redemption of the Securities or related instruments. The parties acknowledge that the Bank is performing the services hereunder merely as an aid to the Depositor, and this does not relieve the Depositor of its duty to manage and keep itself informed of information affecting its own portfoliobe on a contractual basis unless otherwise specified by Treasurer. (b) The Bank shall supply to the Depositor from time to time as mutually agreed by the Bank and the Depositor a written statement with respect to all of the Securities held in the Account. In the event that the Depositor does not inform the Bank in writing of any exceptions or objections to such statement within sixty (60) days after receipt of such statement, the Depositor shall be deemed to have approved such statement. (c) The Bank Custodian shall segregate and identify on its books and records as belonging to the Depositor all Securities delivered by or for the account Account of the Depositor which are held by the Bank in the AccountTreasurer or Beneficial Owner. (dc) The Depositor Treasurer authorizes the BankCustodian, for any Securities held hereunder, to use the services of any United States central securities depository it Custodian deems appropriate and where it may hold any of its own securitiesSecurities, including, but not limited to, the Depository Trust Company (“DTC”) and the Federal Reserve Custodian Book Entry System. The term "“central securities depository" ” shall also include any depository service which acts as a custodian Custodian of securities Securities in connection with a system for the central handling of securities Securities whereby all securities Securities of a particular class or series of any issuer deposited within the system are treated as fungible and may be transferred by bookkeeping entry without physical delivery of security certificatesSecurities. Placement by the Bank Custodian of Securities into a central securities depository or safekeeping facility shall neither augment nor diminish the Bank's Custodian’s duties or obligations under any other paragraph of this Agreement, provided that the Bank Custodian shall have no liability for the acts or failure to act of any such central securities depository. Nothing in this paragraph shall be interpreted to allow for the holding of any physical Security by any party other than a Subcustodian as defined in this Agreement.