Common use of Board’s Conclusive Determination Regarding Country Risk Clause in Contracts

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Consolidated Agreement, Delegate may assume, for all purposes, that the Board (or each Fund's ’s investment advisoradviser, pursuant to authority delegated by the Board) has considered, and pursuant to its fiduciary duties to each Fund and each Fund's ’s shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Consolidated Agreement applies. In exercising its delegated authority under this Consolidated Agreement, Delegate may also assume that the Board (or each Fund's ’s investment advisoradviser, pursuant to authority delegated by the Board) has, and will continue to, Monitor such Country Risk to the extent the Board (or such investment adviser) deems necessary or appropriate. Except as specifically described herein, nothing in this Consolidated Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of any Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's ’s investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's ’s shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's ’s investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate Bank may assume, for all purposes, that Fund’s Board (or Fund's ’s investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's ’s shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate Bank may also assume that Board (or Fund's ’s investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate Bank to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that the Board (or each Fund's ’s investment advisoradviser, pursuant to authority delegated by the Board) has considered, and pursuant to its fiduciary duties to each Fund and each Fund's ’s shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that the Board (or each Fund's ’s investment advisoradviser, pursuant to authority delegated by the Board) has, and will continue to, Monitor such Country Risk to the extent the Board (or such investment adviser) deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of any Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that the Board (or each Fund's ’s investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to each Fund and each Fund's ’s shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that the Board (or each Fund's ’s investment advisor, pursuant to authority delegated by the Board) has, and will continue to, Monitor such Country Risk to the extent the Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of any Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, the Delegate may assume, for all purposes, that the Board (or the Fund's investment advisor, pursuant to authority delegated by the Board) has considered, and pursuant to its fiduciary duties to the Fund and the Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, the Delegate may also assume that the Board (or the Fund's investment advisor, pursuant to authority delegated by the Board) has, and will continue to, Monitor such Country Risk to the extent the Board deems necessary or appropriate. Except as specifically described herein, nothing Nothing in this Agreement shall require the Delegate to make any selection or to engage in any Monitoring on behalf of the Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate Bank may assume, for all purposes, that the Trust's Board (or Fundthe Trust's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund the Trust and Fundthe Trust's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate Bank may also assume that Board (or Fundthe Trust's investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate Bank to make any selection or to engage in any Monitoring on behalf of Fund the Trust that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or FundTrust's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund Trust and FundTrust's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or FundTrust's investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund Trust that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisoradviser, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisoradviser, pursuant to authority delegated by Board) hashas Monitored, and will continue toto Monitor, Monitor such Country Risk to the extent Board (or such investment adviser) deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisoradviser, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisoradviser, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's ’s investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's ’s shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's ’s investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing Nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's Trust’s investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund the Trust and Fund's the Trust’s shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's the Trust’s investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund the Trust that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or FundTrust's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund Trust and FundTrust's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or FundTrust's investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing Nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund Trust that would entail consideration of Country Risk.

Board’s Conclusive Determination Regarding Country Risk. In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's ’s investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's ’s shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to for which this Agreement appliesDelegate is serving as Foreign Custody Manager of the Funds. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's ’s investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board (or Fund’s investment advisor, pursuant to authority delegated by Board) deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.