Common use of Appointment of Subcustodians; Use of Securities Depositories Clause in Contracts

Appointment of Subcustodians; Use of Securities Depositories. (a) Subject to the provisions of Section 2.17, Bank is authorized under this Agreement to act through and hold Customer’s Financial Assets with subcustodians, being at the date of this Agreement the entities listed in Schedule 1 and/or such other entities as Bank may appoint as subcustodians (“Subcustodians”). Bank will use reasonable care in the selection and continued appointment of such Subcustodians. In addition, Bank and each Subcustodian may deposit Financial Assets with, and hold Financial Assets in, any securities depository, settlement system, dematerialized book entry system or similar system (together a “Securities Depository”) on such terms as such systems customarily operate and Customer will provide Bank with such documentation or acknowledgements that Bank may require to hold the Financial Assets in such systems.

Appointment of Subcustodians; Use of Securities Depositories. (a) Subject to the provisions of Section 2.17, Bank is authorized under this Agreement to act through and hold Customer’s 's Financial Assets with subcustodians, being at the date of this Agreement the entities listed in Schedule 1 and/or such other entities as Bank may appoint as subcustodians (“Subcustodians”"SUBCUSTODIANS"). Bank will shall use reasonable care in the selection and continued appointment of such Subcustodians. In addition, Bank and each Subcustodian may deposit Financial Assets with, and hold Financial Assets in, any securities depository, settlement system, dematerialized book entry system or similar system (together a “Securities Depository”"SECURITIES DEPOSITORY") on such terms as 12 Global Custody Agreement - U.S. Law March 2001 version 233273:v07 such systems customarily operate and Customer will shall provide Bank with such documentation or acknowledgements that Bank may require to hold the Financial Assets in such systems.

Appointment of Subcustodians; Use of Securities Depositories. (a) Subject to the provisions of Section 2.17, Bank is authorized under this Agreement to act through and hold Customer’s 's Financial Assets with subcustodians, being at the date of this Agreement the entities listed in Schedule 1 and/or such other entities as Bank may appoint as subcustodians (“Subcustodians”"SUBCUSTODIANS"). Bank will use reasonable care in the selection and continued appointment of such Subcustodians. In addition, Bank and each Subcustodian may deposit Financial Assets with, and hold Financial Assets in, any securities depository, settlement system, dematerialized book entry system or similar system (together a “Securities Depository”"SECURITIES DEPOSITORY") on such terms as such systems customarily operate and Customer will provide Bank with such documentation or acknowledgements that Bank may require to hold the Financial Assets in such systems.