Common use of Bond Clause in Contracts

Bond. The Custodian shall at all times maintain a bond in such form and amount as is acceptable to the Fund, which shall be issued by a reputable fidelity insurance company authorized to do business in the place where such bond is issued, against larceny and embezzlement, covering each officer and employee of the Custodian who may, singly or jointly with others, have access to securities or funds of the Fund, either directly or through authority to receive and carry out any certificate instruction, order request, note or other instrument required or permitted by this Agreement. The Custodian agrees that it shall not cancel, terminate or modify such bond insofar as it adversely affects the Fund except after written notice given to the Fund not less than 10 days prior to the effective date of such cancellation, termination or modification. The Custodian shall, upon request, furnish to the Fund a copy of each such bond and each amendment thereto.

Bond. The Custodian shall shall, at all times times, maintain a bond in such form and amount as is reasonably acceptable to the Fund, Trust which shall be issued by a reputable fidelity insurance company authorized to do business in the place where such bond is issued, issued against larceny and embezzlement, covering each officer and employee of the Custodian who may, singly or jointly with others, have access to securities or funds of the FundTrust and the Funds, either directly or through authority to receive and carry out any certificate instruction, order request, note or other instrument required or permitted by this Agreement. The Custodian agrees that it shall not cancel, terminate or modify such bond insofar as it adversely affects the Trust or any Fund except after written notice given to the Fund Trust not less than 10 days prior to the effective date of such cancellation, termination or modification. The Custodian shall, upon request, shall furnish to the Fund Trust a copy of each such bond and each amendment thereto.