Common use of Collection of Income and Other Payments Clause in Contracts

Collection of Income and Other Payments. PFPC Trust is authorized to and shall: (A) collect and receive for the account of each Portfolio, all income, dividends (including stock dividends), distributions, coupons (including bond coupons), rights, option premiums, other payments and similar items, included or to be included in the Property, and, in addition, promptly advise each Portfolio of such receipt and credit such income to the applicable Portfolio’s custodian account; (B) endorse and deposit for collection, in the name of the applicable Portfolio of the Fund, checks, drafts, negotiable instruments or other orders for the payment of money on the same day as received; (C) receive and hold for the account of each Portfolio all securities received as a distribution on the Portfolio’s securities as a result of a stock dividend, share split-up or reorganization, recapitalization, readjustment or other rearrangement or distribution of rights or similar securities issued with respect to any securities belonging to a Portfolio and held by PFPC Trust hereunder; (D) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed, retired or otherwise become payable (on a mandatory basis) on the date such securities become payable; and (E) take any action which may be reasonably necessary and proper in connection with the collection and receipt of such income and other payments and the endorsement for collection of checks, drafts, and other negotiable instruments, including as described in subparagraph (n) of this Section 14.

Collection of Income and Other Payments. PFPC Trust is authorized to and Bank shall:: --------------------------------------- (Ai) collect and receive for the account of each Portfolioportfolio of the Fund, all incomeincome and other payments and distributions, dividends including (including without limitation) stock dividends), distributions, coupons (including bond coupons), rights, bond coupons, option premiums, other payments premiums and similar items, included or to be included in the Property, and, in addition, and promptly advise each Portfolio the Fund of such receipt and shall credit such income income, as collected, to the applicable Portfolio’s portfolio's custodian account; (Bii) endorse and deposit for collection, in the name of the applicable Portfolio portfolio of the Fund, checks, drafts, negotiable instruments instruments, or other orders for the payment of money on the same day as received; (Ciii) receive and hold for the account of each Portfolio portfolio of the Fund all securities received as a distribution on the Portfolio’s portfolio's securities as a result of a stock dividend, share split-up or reorganization, recapitalization, readjustment or other rearrangement or distribution of rights or similar securities issued with respect to any securities belonging to a Portfolio and the portfolio held by PFPC Trust Bank hereunder; (Div) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed, retired or retired, or otherwise become payable (on a mandatory basis) on the date such securities become payable; and (Ev) take any action which may be reasonably necessary and proper in connection with the collection and receipt of such income and other payments and the endorsement for collection of checks, drafts, and other negotiable instruments, including instruments as described in subparagraph (n) Paragraph 24 of this Section 14Agreement.