Common use of ASSURED INCOME PAYMENT SERVICE Clause in Contracts

ASSURED INCOME PAYMENT SERVICE. (A) The Custodian may, at its absolute discretion, offer the Client an Assured Income Payment Service in respect of specific Securities, as may be notified by the Custodian to the Client from time to time. In relation to any such Securities, the Custodian may, at its absolute discretion, cause the Custody Cash Account to be credited with an Assured Payment on the Assured Payment Date relevant thereto; PROVIDED THAT upon 48 hours prior notice to the Client, the Custodian shall be entitled to reverse any credit (in whole or in part) made in respect of that Assured Payment if the Custodian fails to receive the full amount corresponding to such Assured Payment within a reasonable time, as determined by the Custodian in its absolute discretion, after the relevant Assured Payment Date, for any reason whatsoever other than as a result of the negligence or willful default of the Custodian. The Assured Income Payment Service shall be provided by the Custodian in accordance with the Assured Income Payment Standards. (B) Where the Custodian acts as a settlement bank in any relevant Clearance System: (i) upon the Custodian incurring any assured payment obligation, the Client shall reimburse the Custodian for such amount. (ii) the Custodian may without notice set, revise or disable debit caps in respect of the maximum aggregate amount of assured payment obligations it will incur on behalf of the Client; and (iii) if another settlement bank in such Clearance System defaults on an assured payment obligation owed to the Custodian wholly or partially, the Custodian has no liability to make good the loss and will, where appropriate, attribute the loss pro rata between all Clients on whose behalf such payment should have been received by the Custodian.

ASSURED INCOME PAYMENT SERVICE. (A) The Custodian may, at its absolute discretion, offer the Client an Assured Income Payment Service in respect of specific Securities, as may be notified by the Custodian to the Client from time to time. In relation to any such Securities, the Custodian may, at its absolute discretion, cause the Custody Cash Account to be credited with an Assured Payment on the Assured Payment Date relevant thereto; PROVIDED THAT upon 48 hours prior notice to the Client, the Custodian shall be entitled to reverse any credit (in whole or in part) made in respect of that Assured Payment if the Custodian fails to receive the full amount corresponding to such Assured Payment within a reasonable time, as determined by the Custodian in its absolute discretion, after the relevant Assured Payment Date, for any reason whatsoever other than as a result of the negligence or willful default of the Custodian. The Assured Income Payment Service shall be provided by the Custodian in accordance with the Assured Income Payment Standards. (B) Where the Custodian acts as a settlement bank in any relevant Clearance System: (i) upon the Custodian incurring any assured payment obligation, the Client shall reimburse the Custodian for such amount., and the Custodian may debit the Custody Cash Account with such amount; (ii) the Custodian may without notice set, revise or disable debit caps in respect of the maximum aggregate amount of assured payment obligations it will incur on behalf of the Client; and (iii) if another settlement bank in such Clearance System defaults on an assured payment obligation owed to the Custodian wholly or partially, the Custodian has no liability to make good the loss and will, where appropriate, attribute the loss pro rata between all Clients on whose behalf such payment should have been received by the Custodian.

ASSURED INCOME PAYMENT SERVICE. (A) The Custodian may, at its absolute discretion, offer the Client an Assured Income Payment Service in respect of specific Securities, as may be notified by the Custodian to the Client from time to time. In relation to any such Securities, the Custodian may, at its absolute discretion, cause the Custody Cash Account to be credited with an Assured Payment on the Assured Payment Date relevant thereto; PROVIDED THAT upon 48 hours prior notice to the Client, the Custodian shall be entitled to reverse any credit (in whole or in part) made in respect of that Assured Payment if the Custodian fails to receive the full amount corresponding to such Assured Payment within a reasonable time, as determined by the Custodian in its absolute discretion, after the relevant Assured Payment Date, for any reason whatsoever other than as a result of the negligence or willful default of the Custodian. The Assured Income Payment Service shall be provided by the Custodian in accordance with the Assured Income Payment Standards. (B) Where the Custodian acts as a settlement bank in any relevant Clearance System: (i) upon the Custodian incurring any assured payment obligation, the Client shall reimburse the Custodian for such amount., and the Custodian may debit the Client Cash Account with such amount; (ii) the Custodian may without notice set, revise or disable debit caps in respect of the maximum aggregate amount of assured payment obligations it will incur on behalf of the Client; and (iii) if another settlement bank in such Clearance System defaults on an assured payment obligation owed to the Custodian wholly or partially, the Custodian has no liability to make good the loss and will, where appropriate, attribute the loss pro rata between all Clients on whose behalf such payment should have been received by the Custodian.

ASSURED INCOME PAYMENT SERVICE. (A) The Custodian may, at its absolute discretion, offer the Client an Assured Income Payment Service in respect of specific Securities, as may be notified by the Custodian to the Client from time to time. In relation to any such Securities, the Custodian may, at its absolute discretion, cause the Custody Cash Account to be credited with an Assured Payment on the Assured Payment Date relevant thereto; PROVIDED THAT upon 48 hours prior notice to the Client, the Custodian shall be entitled [GRAPHIC APPEARS HERE] -------------------------------------------------------------------------------- to reverse any credit (in whole or in part) made in respect of that Assured Payment if the Custodian fails to receive the full amount corresponding to such Assured Payment within a reasonable time, as determined by the Custodian in its absolute discretion, after the relevant Assured Payment Date, for any reason whatsoever other than as a result of the negligence or willful default of the Custodian. The Assured Income Payment Service shall be provided by the Custodian in accordance with the Assured Income Payment Standards. (B) Where the Custodian acts as a settlement bank in any relevant Clearance System: (i) upon the Custodian incurring any assured payment obligation, the Client shall reimburse the Custodian for such amount., and the Custodian may debit the Client Cash Account with such amount; (ii) the Custodian may without notice set, revise or disable debit caps in respect of the maximum aggregate amount of assured payment obligations it will incur on behalf of the Client; and (iii) if another settlement bank in such Clearance System defaults on an assured payment obligation owed to the Custodian wholly or partially, the Custodian has no liability to make good the loss and will, where appropriate, attribute the loss pro rata between all Clients on whose behalf such payment should have been received by the Custodian.

ASSURED INCOME PAYMENT SERVICE. (A) The Custodian may, at its absolute discretion, offer the Client an Assured Income Payment Service in respect of specific Securities, as may be notified by the Custodian to the Client from time to time. In relation to any such Securities, the Custodian may, at its absolute discretion, cause the Custody Cash Account to be credited with an Assured Payment on the Assured Payment Date relevant thereto; PROVIDED THAT upon 48 hours prior notice to the Client, the Custodian shall be entitled to reverse any credit (in whole or in part) made in respect of that Assured Payment if the Custodian fails to receive the full amount corresponding to such Assured Payment within a reasonable time, as determined by the Custodian in its absolute discretion, after the relevant Assured Payment Date, for any reason whatsoever other than as a result of the negligence or willful default of the Custodian. -------------------------------------------------------------------------------- 7 [CITIBANK LOGO] -------------------------------------------------------------------------------- The Assured Income Payment Service shall be provided by the Custodian in accordance with the Assured Income Payment Standards. (B) Where the Custodian acts as a settlement bank in any relevant Clearance System: (i) upon the Custodian incurring any assured payment obligation, the Client shall reimburse the Custodian for such amount., and the Custodian may debit the Client Cash Account with such amount; (ii) the Custodian may without notice set, revise or disable debit caps in respect of the maximum aggregate amount of assured payment obligations it will incur on behalf of the Client; and (iii) if another settlement bank in such Clearance System defaults on an assured payment obligation owed to the Custodian wholly or partially, the Custodian has no liability to make good the loss and will, where appropriate, attribute the loss pro rata between all Clients on whose behalf such payment should have been received by the Custodian.