Common use of Appointment of Agents and Sub Custodians Clause in Contracts

Appointment of Agents and Sub Custodians. The Custodian may appoint one or more banking institutions, including but not limited to banking institutions located in foreign countries, to act as Depository or Depositories or as Sub-Custodian or as Sub-Custodians of Securities and monies at any time owned by the Fund. The Custodian shall use reasonable care in selecting a Depository and/or Sub-Custodian located in a country other than the United States ("Foreign Sub-Custodian"), which selection shall be in accordance with the requirements of Rule 17f-5 under the 1940 Act, and shall oversee the maintenance of any Securities or monies of the Fund by any Foreign Sub-Custodian. In addition, the Custodian shall hold the Fund harmless from, and indemnify the Fund against, any loss, action, claim, demand, expense and proceeding, including counsel fees, that occurs as a result of the failure of any Foreign Sub-Custodian or Depository to exercise reasonable care with respect to the safekeeping of Securities and monies of the Fund. Notwithstanding the generality of the foregoing, however, the Custodian shall not be liable for any losses resulting from the general risk of investing or holding Securities and monies in a particular country, including, but not limited to, losses resulting from nationalization, expropriation, devaluation, revaluation, confiscation, seizure, cancellation, destruction or similar action by any governmental authority, de facto or de jure; or enactment, promulgation, imposition or enforcement by any such governmental authority of currency restrictions, exchange controls, taxes, levies or other charges affecting the Fund's property; or acts of war, terrorism, insurrection or revolution; or any other similar act or event beyond the Custodian's control.

Appointment of Agents and Sub Custodians. The Custodian may appoint one or more banking institutions, including but not limited to banking institutions located in foreign countriescountries (provided that each such institution shall constitute an "Eligible Foreign Custodian" within the meaning of Rule 17f-5 under the 1940 Act), to act as Depository or Depositories or as Sub-Custodian or as Sub-Custodians of Securities and monies at any time owned by the Funda Portfolio, upon terms and conditions specified in a Certificate. The Custodian shall use reasonable care in selecting a Depository and/or Sub-Custodian located in a country other than the United States ("Foreign Sub-Custodian"), which selection shall be in accordance with the requirements of Rule 17f-5 under the 1940 Act, and shall oversee the maintenance of any Securities or monies of the Fund a Portfolio by any Foreign Sub-Custodian. The Custodian shall not appoint any Foreign Sub-Custodian on behalf of the Trust until the Board of Trustees of the Trust, if required by Rule 17f-5 or Rule 17f-4, under the 1940 Act, shall have made the determinations and approved the written contract with such Foreign Sub-Custodian. In addition, the Custodian shall hold the Fund Trust harmless from, and indemnify the Fund Trust against, any loss, action, claim, demand, expense and proceeding, including counsel fees, loss that occurs as a result of the failure of any Foreign Sub-Custodian or Depository to exercise reasonable care with respect to the safekeeping of Securities and monies of the Fundany Portfolio. Notwithstanding the generality of the foregoing, however, the Custodian shall not be liable for any losses resulting from the general risk of investing or holding Securities and monies in a particular countrycaused by events or circumstances beyond its reasonable control, including, including but not limited to, losses resulting from nationalization, expropriation, devaluation, revaluation, confiscation, seizure, cancellation, destruction or similar action by any governmental authority, de facto or de jure; or enactment, promulgation, imposition or enforcement by any such governmental authority of or currency restrictions, exchange controls, taxes, levies or other charges affecting the FundTrust's property; or acts of war, terrorism, insurrection or revolution; or any other similar act or event beyond the Custodian's control. The Custodian shall maintain such records as shall be necessary to identify the assets of each Portfolio held by each Foreign Sub-Custodian. The Custodian shall furnish to the Trust such periodic reports as the Trust shall reasonably request with respect to the assets of each Portfolio held by each Foreign Sub-Custodian, and shall furnish to the Trust such notices of transfers of securities, deposits or other assets to or from each Portfolio's account by each Foreign Sub-Custodian as the Trust shall request. The Custodian shall advise the Trust promptly if it learns that any Foreign Sub-Custodian no longer constitutes an "Eligible Foreign Custodian" and of any failure by any Foreign Sub-Custodian to observe any material term or condition of its appointment. If the Board of Trustees of the Trust determines that a Portfolio's assets should be withdrawn from a Foreign Sub-Custodian pursuant to Rule 17f-5 under the 1940 Act, the Custodian shall withdraw the Portfolio's assets from the care of such Foreign Sub-Custodian as soon as reasonably practicable, and in any event within 180 days of the date of such determination by the Board of Trustees of the Trust. The Custodian may authorize one or more of the Foreign Sub-Custodians to use the facilities of one or more foreign central securities depositories or clearing agencies as may hereafter be approved by resolution of the Trustees of the Trust; provided that any such organization shall constitute an "Eligible Foreign Custodian." In the event that any Foreign Sub-Custodian fails to perform any of its obligations under the terms of its appointment, the Custodian shall use its best efforts to cause such Foreign Sub-Custodian to perform such obligations. At the written request of the Trust, the Custodian shall use its best efforts to assert and collect any claim for liability for any loss or damage incurred by a Portfolio arising out of the failure of any such Foreign Sub-Custodian to perform such obligations.

Appointment of Agents and Sub Custodians. The Custodian may may, after obtaining the Fund's consent, appoint one or more banking institutions, including but not limited to banking institutions located in foreign countries, to act as Depository or Depositories or as Sub-Custodian sub- custodian or as Subsub-Custodians custodians of Securities and monies at any time owned by the Fund. The Custodian shall use reasonable care in selecting a Depository and/or Subsub-Custodian custodian located in a country other than the United States ("Foreign Sub-Custodian"), which selection shall be in accordance with the requirements of Rule 17f-5 under the 1940 Act, and shall oversee the maintenance of any Securities or monies of the Fund by any Foreign Sub-Sub- Custodian. In addition, the Custodian shall hold the Fund harmless from, and indemnify the Fund against, any loss, action, claim, demand, expense and proceeding, including counsel fees, loss that occurs as a result of the failure of any Foreign Sub-Custodian or Depository to exercise reasonable care with respect to the safekeeping of Securities and monies of the Fund. Notwithstanding the generality of the foregoing, however, the Custodian shall not be liable for any losses resulting from the general risk of investing or holding Securities and monies in a particular countrycaused by events or circumstances beyond its reasonable control, including, but not limited to, losses resulting from nationalization, expropriation, devaluation, revaluation, confiscation, seizure, cancellation, destruction or similar action by any governmental authority, de facto or de jure; or enactment, promulgation, imposition or enforcement by any such governmental authority of currency restrictions, exchange controls, taxes, levies or other charges affecting the Fund's property; or acts of war, terrorism, insurrection or revolution; or any other similar act or event beyond the Custodian's control.

Appointment of Agents and Sub Custodians. The Custodian may appoint one or more banking institutions, including but not limited to banking institutions located in foreign countriescountries (provided that each such institution shall constitute an "Eligible Foreign Custodian" within the meaning of Rule 17f-5 under the 1940 Act), to act as Depository or Depositories or as Sub-Custodian or as Sub-Sub- Custodians of Securities and monies at any time owned by the a Fund, upon terms and conditions specified in a Certificate. The Custodian shall use reasonable care in selecting a Depository and/or Sub-Custodian located in a country other than the United States ("Foreign Sub-Custodian"), which selection shall be in accordance with the requirements of Rule 17f-5 under the 1940 Act, and shall oversee the maintenance of any Securities or monies of the a Fund by any Foreign Sub-Custodian. The Custodian shall not appoint any Foreign Sub-Custodian until the Board of Trustees of the Trust shall have made the determinations and approved the written contract with such Foreign Sub-Custodian as required by Rule 17f-5 and Rule 17f-4, if applicable, under the 1940 Act. In addition, the Custodian shall hold the Fund Trust harmless from, and indemnify the Fund Trust against, any loss, action, claim, demand, expense and proceeding, including counsel fees, loss that occurs as a result of the failure of any Foreign Sub-Custodian or Depository to exercise reasonable care with respect to the safekeeping of Securities and monies of the any Fund. Notwithstanding the generality of the foregoing, however, the Custodian shall not be liable for any losses resulting from the general risk of investing or holding Securities and monies in a particular countrycaused by events or circumstances beyond its reasonable control, including, including but not limited to, losses resulting from nationalization, expropriation, devaluation, revaluation, confiscation, seizure, cancellation, destruction or similar action by any governmental authority, de facto or de jure; or enactment, promulgation, imposition or enforcement by any such governmental authority of or currency restrictions, exchange controls, taxes, levies or The Custodian shall maintain such records as shall be necessary to identify the assets of each Fund held by each Foreign Sub- Custodian. The Custodian shall furnish to the Trust such periodic reports as the Trust shall reasonably request with respect to the assets of each Fund held by each Foreign Sub-Custodian, and shall furnish to the Trust such notices of transfers of securities, deposits or other charges affecting assets to or from each Fund's account by each Foreign Sub-Custodian as the Trust shall request. The Custodian shall advise the Trust promptly if it learns that any Foreign Sub-Custodian no longer constitutes an "Eligible Foreign Custodian" and of any failure by any Foreign Sub-Custodian to observe any material term or condition of its appointment. If the Board of Trustees of the Trust determines that a Fund's assets should be withdrawn from a Foreign Sub-Custodian pursuant to Rule 17f-5 under the 1940 Act, the Custodian shall withdraw the Fund's propertyassets from the care of such Foreign Sub-Custodian as soon as reasonably practicable, and in any event within 180 days of the date of such determination by the Board of Trustees of the Trust. The Custodian may authorize one or more of the Foreign Sub-Custodians to use the facilities of one or more foreign central securities depositories or clearing agencies listed in Appendix C hereto, or as may hereafter be approved by resolution of the Trustees of the Trust; provided that any such organization shall constitute an "Eligible Foreign Custodian." In the event that any Foreign Sub-Custodian fails to perform any of its obligations under the terms of its appointment, the Custodian shall use its best efforts to cause such Foreign Sub-Custodian to perform such obligations. At the written request of the Trust, the Custodian shall use its best efforts to assert and collect any claim for liability for any loss or acts damage incurred by a Fund arising out of war, terrorism, insurrection or revolution; or the failure of any other similar act or event beyond the Custodian's controlsuch Foreign Sub-Custodian to perform such obligations.

Appointment of Agents and Sub Custodians. The Custodian may appoint one or more banking institutions, including but not limited to banking institutions located in foreign countries, to act as Depository or Depositories or as Subsub-Custodian custodian or as Subsub-Custodians custodians of Securities and monies at any time owned by the Fund. The Custodian shall use reasonable care in selecting a Depository and/or Subsub-Custodian custodian located in a country other than the United States ("Foreign Sub-Custodian"), which selection shall be in accordance with the requirements of Rule 17f-5 under the 1940 Act, and shall oversee the maintenance of any Securities or monies of the Fund by any Foreign Sub-Custodian. In addition, the Custodian shall hold the Fund harmless from, and indemnify the Fund against, any loss, action, claim, demand, expense and proceeding, including counsel fees, loss that occurs as a result of the failure of any Foreign Sub-Custodian or Depository to exercise reasonable care with respect to the safekeeping of Securities and monies of the Fund. Notwithstanding the generality of the foregoing, however, the Custodian shall not be liable for any losses resulting from the general risk of investing or holding Securities and monies in a particular countrycaused by events or circumstances beyond its reasonable control, including, but not limited to, losses resulting from nationalization, expropriation, devaluation, revaluation, confiscation, seizure, cancellation, destruction or similar action by any governmental authority, de facto or de jure; or enactment, promulgation, imposition or enforcement by any such governmental authority of currency restrictions, exchange controls, taxes, levies or other charges affecting the Fund's property; or acts of war, terrorism, insurrection or revolution; or any other similar act or event beyond the Custodian's or its agent's control. This Section shall survive the termination of this Agreement.

Appointment of Agents and Sub Custodians. The Subject to the approval of ---------------------------------------- the Board of Trustees of the Trust, the Custodian may appoint one or more banking institutions, including but not limited to banking institutions located in foreign countries, to act as Depository or Depositories or as Subsub-Custodian custodian or as Subsub-Custodians custodians of Securities and monies at any time owned by the Fund. The Custodian shall use reasonable care in selecting a Depository and/or Subsub-Custodian custodian located in a country other than the United States ("Foreign Sub-Custodian"), which selection shall be in accordance with the requirements of Rule 17f-5 under the 1940 Act, and shall oversee the maintenance of any Securities or monies of the Fund by any Foreign Sub-Custodian. In addition, the Custodian shall hold the Fund harmless from, and indemnify the Fund against, any loss, action, claim, demand, expense and proceeding, including counsel fees, loss that occurs as a result of the failure of any Foreign Sub-Custodian or Depository to exercise reasonable care with respect to the safekeeping of Securities and monies of the Fund. Notwithstanding the generality of the foregoing, however, the Custodian shall not be liable for any losses resulting from the general risk of investing or holding Securities and monies in a particular countrycaused by events or circumstances beyond its reasonable control, including, but not limited to, losses resulting from nationalization, expropriation, devaluation, revaluation, confiscation, seizure, cancellation, destruction or similar action by any governmental authority, de facto or de jure; or enactment, promulgation, imposition or enforcement by any such governmental authority of currency restrictions, exchange controls, taxes, levies or other charges affecting the Fund's property; or acts of war, terrorism, insurrection or revolution; or any other similar act or event beyond the Custodian's or its agent's control. This Section shall survive the termination of this Agreement.