Common use of Availability of Federal Funds Clause in Contracts

Availability of Federal Funds. Upon mutual agreement between the Fund and the Custodian, the Custodian shall, upon the receipt of Proper Instructions from the Fund on behalf of a Portfolio, (i) invest in such money market funds offered by the Custodian as institutional sweep vehicles as may be set forth in such Proper Instructions, on the same day as received, all federal funds received after a time agreed upon by the Custodian and the Fund and (ii) make federal funds available to the Fund for the Portfolio as of specified times agreed upon from time to time by the Fund and the Custodian in the amount of checks received in payment for Interests in such Portfolio(s) which are deposited into the account of the Portfolio.

Availability of Federal Funds. Upon mutual agreement between the Fund and the Custodian, the Custodian shall, upon the receipt of Proper Instructions from the Fund on behalf of a Portfolio, Portfolio (i) invest in such money market funds offered by the Custodian as institutional sweep vehicles instruments as may be set forth in such Proper Instructions, instructions on the same day as received, received all federal funds received after a time agreed upon by the Custodian and the Fund and (ii) make federal funds available to the Fund for the Portfolio as of specified times agreed upon from time to time by the Fund and the Custodian in the amount of checks funds received in payment for Interests respect of sales of securities by the Portfolio and of funds obtained through borrowings, in such Portfolio(s) each case which are deposited into the account of the Portfolio's account.