Common use of Cash Accounts Clause in Contracts

Cash Accounts. (i) All cash received or held by the Bank or by any entity authorized to hold Property in accordance with Section 7 hereof as interest, dividends, proceeds from transfer, and other payments for or with respect to the Securities shall be (x) held in a cash account in accordance with properly authorized Instructions received by the Bank or such entity, or (y) if specified in the Fund's Instructions, converted to or from U.S. dollars and remitted to the Fund. The Fund shall bear any foreign exchange risk in connection with any such conversion. In effecting any currency conversions hereunder, the Bank or such entity may use any methods or agencies as it may see fit including the Bank's or such entity's facilities at customary rates. (ii) The Fund agrees, with respect to all payments for purchases of Securities to be deposited in the Custody Account, that funds for settlement will be on deposit by the settlement date at the location of settlement, in good available funds and in the currency of settlement. The Fund acknowledges that nothing in this Agreement shall obligate the Bank to extend credit, grant financial accommodation or otherwise advance moneys to the Fund for the purpose of making any payments for purchases or part thereof or otherwise carrying out any Instructions. (iii) The Fund authorizes the Bank from time to time to cause the branch of the Bank located in London, England ("Citibank London") to establish a multicurrency cash account reflecting cash received by any Eligible Foreign Custodian (as hereinafter defined) on the Fund's behalf. Citibank London will maintain such cash account in accordance with the requirements of Section 7 hereof applicable to an entity authorized to hold Property hereunder.

Cash Accounts. (i) All cash received or held by the Bank or by any entity authorized to hold Property in accordance with Section 7 hereof as interest, dividends, proceeds from transfer, and other payments for or with respect to the Securities shall be (x) held in a cash account in accordance with properly properly' authorized Instructions received by the Bank or such entity, or (y) if specified in the Fund's Instructions, converted to or from U.S. dollars and remitted to the Fund. The Fund shall bear any foreign exchange risk in connection with any such conversion. In effecting any currency conversions hereunder, the Bank or such entity may use any methods or agencies as it may see fit including the Bank's or such entity's facilities at customary rates. (ii) The Fund agrees, with respect to all payments for purchases of Securities to be deposited in the Custody Account, that funds for settlement will be on deposit by the settlement date at the location of settlement, in good available funds and in the currency of settlement. The Fund acknowledges that nothing in this Agreement shall obligate the Bank to extend credit, grant financial accommodation or otherwise advance moneys to the Fund for the purpose of making any payments for purchases or part thereof or otherwise carrying out any Instructions. (iii) The Fund authorizes the Bank from time to time to cause the branch of the Bank located in London, England ("Citibank London") to establish a multicurrency cash account reflecting cash received by any Eligible Foreign Custodian (as hereinafter defined) on the Fund's behalf. Citibank London will maintain such cash account in accordance with the requirements of Section 7 hereof applicable to an entity authorized to hold Property hereunder.

Cash Accounts. (i) All cash received or held by the Bank or by any entity authorized to hold Property in accordance with Section 7 hereof as interest, dividends, proceeds from transfer, and other payments for or with respect to the Securities shall be (x) held in a cash account in accordance with properly authorized Instructions received by the Bank or such entity, or (y) if specified in the Fund's Instructions, converted to or from U.S. dollars and remitted to the Fund. The Fund shall bear any foreign exchange risk in connection with any such conversion. In effecting any currency conversions hereunder, the Bank or such entity may use any methods or agencies as it may see fit including the Bank's or such entity's facilities at customary rates. (ii) The Fund agrees, with respect to all payments for purchases of Securities to be deposited in the Custody Account, that funds for settlement will be on deposit by the settlement date at the location of settlement, in good available funds and in the currency of settlement. The Fund acknowledges that nothing in this Agreement shall obligate the Bank to extend credit, grant financial accommodation or otherwise advance moneys to the Fund for the purpose of making any payments for purchases or part thereof or otherwise carrying out any Instructions. (iii) The Fund authorizes the Bank from time to time to cause the branch of the Bank located in London, England ("Citibank London") to establish a multicurrency cash account reflecting cash received by any Eligible Foreign Custodian (as hereinafter defined) on the Fund's behalf. Citibank London will maintain such cash account in accordance with the requirements of Section 7 hereof applicable to an entity authorized to hold Property hereunder.