Common use of Advances by Bank Clause in Contracts

Advances by Bank. The Bank may, in its sole discretion, advance funds on behalf of any Portfolio of the Trust to make any payment permitted by this Agreement upon receipt of any Proper Instructions from the Portfolio authorizing such payments. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of the Portfolio's account with the Bank, or for any other reason) any such overdraft or related indebtedness shall be deemed a loan made by the Bank to the Portfolio payable on demand and bearing interest at the current rate charged by the Bank for such loans unless the Portfolio shall provide the Bank with agreed upon compensating balances. The Portfolio agrees that the Bank shall have a continuing lien and security interest to the extent of any overdraft or indebtedness, in and to any property at any time held by it for the Portfolio's benefit or in which the Portfolio has an interest and which is then in the Bank's possession or control (or in the possession or control of any third party acting on the Bank's behalf). The Portfolio authorizes the Bank, in its sole discretion, at any time to charge any overdraft of indebtedness, together with interest due thereon against any balance of account standing to the credit of the Portfolio on the Bank's books.

Advances by Bank. The Bank may, in its sole discretion, advance funds on behalf of any Portfolio of the Trust to make any payment permitted by this Agreement upon receipt of any Proper Instructions from proper authorization required by this Agreement for such payments by the Portfolio authorizing such paymentsTrust. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of the PortfolioTrust's account with the Bank, or for any other reason) this Agreement deems any such overdraft or related indebtedness shall be deemed indebtedness, a loan made by the Bank to the Portfolio Trust payable on demand and bearing interest at the current rate charged by the Bank for such loans unless the Portfolio Trust shall provide the Bank with agreed upon compensating balances. The Portfolio Trust agrees that the Bank shall have a continuing lien and security interest to the extent of any overdraft or indebtedness, in and to any property at any time held by it for the PortfolioTrust's benefit or in which the Portfolio Trust has an interest and which is then in the Bank's possession or control (or in the possession or control of any third party acting on the Bank's behalf), but only in amounts within the limitations as set forth in the Trust's prospectuses. The Portfolio Trust authorizes the Bank, in its sole discretion, at any time to charge any overdraft of or indebtedness, together with interest due thereon against any balance of account standing to the credit of the Portfolio Trust on the Bank's books, but only after the Bank has invoiced the Trust and not received payment within a reasonable time. Further, the Bank may not take possession of portfolio securities without first discussing the issue with the portfolio manager.

Advances by Bank. The Bank may, in its sole discretion, advance funds on behalf of any Portfolio of the Trust Company to make any payment permitted by this Agreement upon receipt of any Proper Instructions from proper authorization required by this Agreement for such payments by the Portfolio authorizing such paymentsCompany. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of the PortfolioCompany's account with the Bank, or for any other reason) this Agreement deems any such overdraft or related indebtedness shall be deemed indebtedness, a loan made by the Bank to the Portfolio Company payable on demand and bearing interest at the current rate charged by the Bank for such loans unless the Portfolio Company shall provide the Bank with agreed upon compensating balances. The Portfolio Company agrees that the Bank shall have a continuing lien and security interest to the extent of any overdraft or indebtedness, in and to any property at any time held by it for the PortfolioCompany's benefit or in which the Portfolio Company has an interest and which is then in the Bank's possession or control (or in the possession or control of any third party acting on the Bank's behalf). The Portfolio Company authorizes the Bank, in its sole discretion, at any time to charge any overdraft of or indebtedness, together with interest due thereon against any balance of account standing to the credit of the Portfolio Company on the Bank's books.

Advances by Bank. The Bank may, in its sole discretion, advance funds on behalf of any Portfolio of the Trust to make any payment permitted by this Agreement upon receipt of any Proper Instructions from proper authorization required by this Agreement for such payments by the Portfolio authorizing such paymentsTrust. Should such a payment or payments, with advanced funds, result in an overdraft (due to insufficiencies of the PortfolioTrust's account with the Bank, or for any other reason) this Agreement deems any such overdraft or related indebtedness shall be deemed indebtedness, a loan made by the Bank to the Portfolio Trust payable on demand and bearing interest at the current rate charged by the Bank for such loans unless the Portfolio Trust shall provide the Bank with agreed upon compensating balances. The Portfolio Trust agrees that the Bank shall have a continuing lien and security interest to the extent of any overdraft or indebtedness, in and to any property at any time held by it for the PortfolioTrust's benefit or in which the Portfolio Trust has an interest and which is then in the Bank's possession or control (or in the possession or control of any third party acting on the Bank's behalf). The Portfolio Trust authorizes the Bank, in its sole discretion, at any time to charge any overdraft of or indebtedness, together with interest due thereon against any balance of account standing to the credit of the Portfolio Trust on the Bank's books. The Bank agrees to credit the Trust for interest on any cash balances left uninvested at the Bank. The Bank will present an accounting of all interest owed by the Trust on overdrafts and to the Trust on uninvested cash balances on a monthly basis with its bill for custody services.