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

Collection of Income and Other Payments. The Custodian shall: (i) collect and receive for the account of the Trust, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trust, and promptly advise the Trust of such receipt and shall credit such income, as collected, to the Trust. From time to time, the Custodian may elect to credit, but shall not be so obligated, the account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s sole risk, and the Custodian shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, broker or agent of the Customer. (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issue. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructions, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit. All risk and expenses incident to such collection and conversion is for the account of the Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the Trust, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of the Trust all securities received by the Trust 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 portfolio securities of the Trust held by the Custodian hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements for collection of checks, drafts and other negotiable instruments; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.

Collection of Income and Other Payments. The Custodian shall: (i) collect and receive for the account of the Trust, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trust, and promptly advise the Trust of such receipt and shall credit such income, as collected, to the Trust. From time to time, the Custodian may elect to credit, but shall not be so obligated, the account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s sole risk, and the Custodian shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, broker or agent of the Customer. (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issue. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructions, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit. All risk and expenses incident to such collection and conversion is for the account of the Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the Trust, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of the Trust all securities received by the Trust 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 portfolio securities of the Trust held by the Custodian hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements for collection of checks, drafts and other negotiable instruments; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.

Collection of Income and Other Payments. The Custodian shallshall subject to Paragraph 28(f) hereof: (i) collect Collect and receive for the account of the Trustany Master Portfolio, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustany Master Portfolio, and promptly advise the Trust of such receipt and shall credit such income, as collected, to such Master Portfolio of the Trust. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, Securities Depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s 's sole risk, and the Custodian shall be authorized to reverse (A) any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, Securities Depository, broker or agent of agent, and (B) any other payment or crediting, including, without limitation, payments made by check or draft, in the Customer.event it does not receive good funds or final payment; (ii) with With respect to securities of foreign issue, and subject to Paragraph 27 hereof, effect collection of dividends, interest and other income, and to notify promptly transmit to the Trust all reports, written information or notices actually received by Custodian as Custodian, including notices of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueCustodian's own negligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Trust Master Portfolios and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion.conversions; (iii) endorse Endorse and deposit for collection in the name of the TrustTrust and each of its Master Portfolios, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive Receive and hold for the account of each of the Trust all Master Portfolio's securities received by the Trust Master Portfolios 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 portfolio securities of the Trust Master Portfolios held by the Custodian hereunder; (v) present Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable, but, with respect to calls, early redemptions, or early retirements, only if Custodian either: (i) receives a written notice of the same, or (ii) notice of the same appears in one or more of the publications then listed in Appendix A hereto, which Appendix may be amended to add other publications at any time by Custodian without prior notice to or consent from the Trust and which may be amended to delete a publication with the prior notice and consent from the Trust; (vi) Subject to Paragraphs 28(e) and (f) hereof, take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; and (vii) with With respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised by the Trust or the investment adviser to the Trust of an earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole reasonable discretion.

Collection of Income and Other Payments. The Custodian shallshall --------------------------------------- subject to Paragraph 28(f) hereof: (i) collect Collect and receive for the account of the Trustany Fund, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustany Fund, and promptly advise the Trust of such receipt and shall credit such income, as collected, to such Fund of the Trust. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, Securities Depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s 's sole risk, and the Custodian shall be authorized to reverse (A) any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, Securities Depository, broker or agent of agent, and (B) any other payment or crediting, including, without limitation, payments made by check or draft, in the Customer.event it does not receive good funds or final payment; (ii) with With respect to securities of foreign issue, and subject to Paragraph 27 hereof, effect collection of dividends, interest and other income, and to notify promptly transmit to the Trust all reports, written information or notices actually received by Custodian as Custodian, including notices of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueCustodian's own negligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Trust Funds and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion.conversions; (iii) endorse Endorse and deposit for collection in the name of the TrustTrust and each of its Funds, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive Receive and hold for the account of each of the Trust all Fund's securities received by the Trust Funds 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 portfolio securities of the Trust Funds held by the Custodian hereunder; (v) present Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable, but, with respect to calls, early redemptions, or early retirements, only if Custodian either: (i) receives a written notice of the same, or (ii) notice of the same appears in one or more of the publications then listed in Appendix A hereto, which Appendix may be amended to add other publications at any time by Custodian without prior notice to or consent from the Trust and which may be amended to delete a publication with the prior notice and consent from the Trust; (vi) Subject to Paragraphs 28(e) and (f) hereof, take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; and (vii) with With respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised by the Trust or the investment adviser to the Trust of an earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole reasonable discretion.

Collection of Income and Other Payments. The Custodian U.S. Trust shall: (i) collect and receive for the account of the TrustFund, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, items included or to be included in the Property of the TrustFund, and promptly advise the Trust Fund of such receipt and shall credit such income, as collected, to the TrustFund. From time to time, the Custodian U.S. Trust may elect to creditelect, but shall not be so obligated, to credit the account Account with interest, dividends or principal payments on payable or contractual settlement datedates, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Fund or the CustodianU.S. Trust. Any such crediting and posting shall be at the Trust’s Fund's sole risk, and the Custodian U.S. Trust shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it U.S. Trust does not receive good funds from any such payor, central depository, broker or agent of the CustomerFund. (ii) with respect to securities of foreign issueissuers held in custody by U.S. Trust hereunder, if any, effect collection of dividends, interest and other income, and to notify the Trust Fund of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian U.S. Trust shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issueissuers, regardless of whether or not the relevant information is published in any financial service available to it U.S. Trust, unless such failure or delay is due to its negligence or willful misconduct; however, provided that this subparagraph sub-paragraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueissuers. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars Dollars, unless the Fund instructs U.S. Trust otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian U.S. Trust may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division, at customary rates. All risk and expenses expense incident to such collection and conversion is for the account of the Fund and U.S. Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the TrustFund, checks, drafts, or other orders for the payment of money on the same day as received;. (iv) receive and hold for the account of the Trust Fund all securities received by the Trust Fund 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 portfolio securities of the Trust Fund held by the Custodian U.S. Trust hereunder;. (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable;. (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such Fund income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;. (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, redemption against payment therefor in accordance with accepted industry practice. The Trust Fund understands that the Custodian U.S. Trust subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian U.S. Trust shall not be liable for failure to redeem any called bond or to take other action if notice of such call or action was not provided by any service to which it subscribes subscribes, provided that the Custodian U.S. Trust shall have acted in good faith without negligence or willful misconductand in accordance with "street practice" (as is customary in industry). The Custodian U.S. Trust shall have no duty to notify the Trust Fund of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian U.S. Trust shall forward to the Trust or the appropriate Investment Adviser Fund any notices or other documents subsequently received in with regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to sell the fraction received and credit the Trust’s Fund's account. Unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian U.S. Trust is called for partial redemption by the issue issuer of such Property, the Custodian U.S. Trust is authorized to allot the called portion to the respective beneficial holders of the Property in such manner as is deemed by U.S. Trust to be fair and equitable by the Custodian in its sole discretion.

Collection of Income and Other Payments. The Custodian shallshall subject to Paragraph 28(f) hereof: (i) collect Collect and receive for the account of the Trustany Master Portfolio, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustany Master Portfolio, and promptly advise the Master Trust of such receipt and shall credit such income, as collected, to the such Master Portfolio of Master Trust. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, Securities Depository, broker or other agent employed by the Master Trust or the Custodian. Any such crediting and posting shall be at the Master Trust’s 's sole risk, and the Custodian shall be authorized to reverse (A) any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, Securities Depository, broker or agent of agent, and (B) any other payment or crediting, including, without limitation, payments made by check or draft, in the Customer.event it does not receive good funds or final payment; (ii) with With respect to securities of foreign issue, and subject to Paragraph 27 hereof, effect collection of dividends, interest and other income, and to notify the promptly transmit to Master Trust all reports, written information or notices actually received by Custodian as Custodian, including notices of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueCustodian's own negligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Trust Master Portfolios and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion.conversions; (iii) endorse Endorse and deposit for collection in the name of the TrustMaster Trust and each of its Master Portfolios, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive Receive and hold for the account of each of the Trust all Master Portfolio's securities received by the Trust Master Portfolios 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 portfolio securities of the Trust Master Portfolios held by the Custodian hereunder; (v) present Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable, but, with respect to calls, early redemptions, or early retirements, only if Custodian either: (i) receives a written notice of the same, or (ii) notice of the same appears in one or more of the publications then listed in Appendix A hereto, which Appendix may be amended to add other publications at any time by Custodian without prior notice to or consent from Master Trust and which may be amended to delete a publication with the prior notice and consent from Master Trust; (vi) Subject to Paragraphs 28(e) and (f) hereof, take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; and (vii) with With respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised by Master Trust or the investment adviser to Master Trust of an earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Master Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole reasonable discretion.

Collection of Income and Other Payments. The Custodian shallshall subject to Paragraph 28(f) hereof: (i) collect Collect and receive for the account of the Trustany Portfolio, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustany Portfolio, and promptly advise the Master Trust of such receipt and shall credit such income, as collected, to the such Portfolio of Master Trust. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, Securities Depository, broker or other agent employed by the Master Trust or the Custodian. Any such crediting and posting shall be at the Master Trust’s 's sole risk, and the Custodian shall be authorized to reverse (A) any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, Securities Depository, broker or agent of agent, and (B) any other payment or crediting, including, without limitation, payments made by check or draft, in the Customer.event it does not receive good funds or final payment; (ii) with With respect to securities of foreign issue, and subject to Paragraph 27 hereof, effect collection of dividends, interest and other income, and to notify the promptly transmit to Master Trust all reports, written information or notices actually received by Custodian as Custodian, including notices of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueCustodian's own negligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Trust Portfolios and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion.conversions; (iii) endorse Endorse and deposit for collection in the name of the TrustMaster Trust and each of its Portfolios, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive Receive and hold for the account of each of the Trust all Portfolio's securities received by the Trust Portfolios 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 portfolio securities of the Trust Portfolios held by the Custodian hereunder; (v) present Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable, but, with respect to calls, early redemptions, or early retirements, only if Custodian either: (i) receives a written notice of the same, or (ii) notice of the same appears in one or more of the publications then listed in Appendix A hereto, which Appendix may be amended to add other publications at any time by Custodian without prior notice to or consent from Master Trust and which may be amended to delete a publication with the prior notice and consent from Master Trust; (vi) Subject to Paragraphs 28(e) and (f) hereof, take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; and (vii) with With respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised by Master Trust or the investment adviser to Master Trust of an earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Master Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole reasonable discretion.

Collection of Income and Other Payments. The Custodian shallshall subject to Paragraph 28(f) hereof: (i) collect Collect and receive for the account of the Trustany Fund, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustany Fund, and promptly advise the Trust of such receipt and shall credit such income, as collected, to such Fund of the Trust. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, Securities Depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s 's sole risk, and the Custodian shall be authorized to reverse (A) any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, Securities Depository, broker or agent of agent, and (B) any other payment or crediting, including, without limitation, payments made by check or draft, in the Customer.event it does not receive good funds or final payment; (ii) with With respect to securities of foreign issue, and subject to Paragraph 27 hereof, effect collection of dividends, interest and other income, and to notify promptly transmit to the Trust all reports, written information or notices actually received by Custodian as Custodian, including notices of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueCustodian's own negligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Trust Funds and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion.conversions; (iii) endorse Endorse and deposit for collection in the name of the TrustTrust and each of its Funds, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive Receive and hold for the account of each of the Trust all Fund's securities received by the Trust Funds 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 portfolio securities of the Trust Funds held by the Custodian hereunder; (v) present Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable, but, with respect to calls, early redemptions, or early retirements, only if Custodian either (i) receives a written notice of the same or (ii) notice of the same appears in one or more of the publications then listed in Appendix A hereto, which Appendix may be amended to add other publications at any time by Custodian without prior notice to or consent from the Trust and which may be amended to delete a publication with the prior notice and consent from the Trust; (vi) Subject to Paragraphs 28(e) and (f) hereof, take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; and (vii) with With respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised by the Trust or the investment adviser to the Trust of an earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole reasonable discretion.

Collection of Income and Other Payments. The Custodian U.S. Trust shall: (i) collect and receive for the account of the TrustFund, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, items included or to be included in the Property of the TrustFund, and promptly advise the Trust Fund of such receipt and shall credit such income, as collected, to the TrustFund. From time to time, the Custodian U.S. Trust may elect to creditelect, but shall not be so obligated, to credit the account Account with interest, dividends or principal payments on payable or contractual settlement datedates, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Fund or the CustodianU.S. Trust. Any such crediting and posting shall be at the Trust’s Fund's sole risk, and the Custodian U.S. Trust shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it U.S. Trust does not receive good funds from any such payor, central depository, broker or agent of the CustomerFund. U.S. Trust will take any reasonable action which may be necessary and proper in connection with the collection of such interest, dividends or principal payments, provided the Fund will reimburse U.S. Trust for any reasonable attorneys' fees in connection therewith. (ii) with respect to securities of foreign issueissuers held in custody by U.S. Trust hereunder, if any, effect collection of dividends, interest and other income, and to notify the Trust Fund of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian U.S. Trust shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it issuers unless such failure or delay is due to its negligence or willful misconduct; however, provided that this subparagraph sub-paragraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueissuers. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars Dollars, unless the Fund instructs U.S. Trust otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian U.S. Trust may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division, at customary rates. All risk and expenses expense incident to such collection and conversion is for the account of the Fund and U.S. Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion, provided such conversion is performed promptly. (iii) endorse and deposit for collection in the name of the TrustFund, checks, drafts, or other orders for the payment of money on the same day as received;. (iv) receive and hold for the account of the Trust Fund all securities received by the Trust Fund 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 portfolio securities of the Trust Fund held by the Custodian U.S. Trust hereunder;. (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable;. (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such Fund income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;. (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, redemption against payment therefor in accordance with accepted industry practice. The U.S. Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or to take other action if notice of such call or action was not provided by any service to which it subscribes subscribes, provided that the Custodian U.S. Trust shall have acted in good faith without negligence or willful misconductbeing negligent and in accordance with "street practice" (as is customary in industry). The Custodian U.S. Trust shall have no duty to notify the Trust Fund of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian U.S. Trust shall forward to the Trust or the appropriate Investment Adviser Fund any notices or other documents subsequently received in with regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to sell the fraction received and credit the Trust’s Fund's account. Unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian U.S. Trust is called for partial redemption by the issue issuer of such Property, the Custodian U.S. Trust is authorized to allot the called portion to the respective beneficial holders of the Property in such manner as is deemed by U.S. Trust to be fair and equitable by the Custodian in its sole discretionequitable.

Collection of Income and Other Payments. The Custodian U.S. Trust shall: (i) collect and receive for the account of each Fund of the TrustCompany, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustsuch Fund, and promptly advise the Trust Company of such receipt and shall credit such income, as collected, to the TrustCompany's account for such Fund. From time to time, the Custodian U.S. Trust may elect to credit, but shall not be so obligated, the account Accounts with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Customer or the CustodianU.S. Trust. Any such crediting and posting shall be at the Trust’s Customer's sole risk, and the Custodian U.S. Trust shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, broker or agent of the Customer. (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust Company of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian U.S. Trust shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconductnegligence; however, this subparagraph (ii) sentence shall not be construed as creating any such responsibility with respect to securities of non-foreign issue, other than such responsibility as may be part of the general respon- sibility of U.S. Trust. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian U.S. Trust may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is for the account of the Company and U.S. Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the TrustCompany, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of each Fund of the Trust Company all securities received by the Trust Fund 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 portfolio securities of such Fund of the Trust Company held by the Custodian U.S. Trust hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor therefore in accordance with accepted industry practice. The Trust Company understands that the Custodian U.S. Trust subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian U.S. Trust shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconductsubscribes. The Custodian U.S. Trust shall have no duty to notify the Trust Company of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian U.S. Trust shall forward to the Trust Company or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to sell the fraction received and credit the Trust’s Company's account. Unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of U.S. Trust or in the Custodian nominee of any entity employed by U.S. Trust is called for partial redemption by the issue issuer of such Property, the Custodian U.S. Trust is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian U.S. Trust in its sole discretion.

Collection of Income and Other Payments. The Custodian shall: (i) collect and receive for the account of the Trust, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trust, and promptly advise the Trust of such receipt and shall credit such income, as collected, to the Trust. From time to time, the Custodian may elect to credit, but shall not be so obligated, the account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s 's sole risk, and the Custodian shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, broker or agent of the Customer. (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph sub-paragraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issue. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructions, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit. All risk and expenses incident to such collection and conversion is for the account of the Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the Trust, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of the Trust all securities received by the Trust 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 portfolio securities of the Trust held by the Custodian hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements for collection of checks, drafts and other negotiable instruments; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.for

Collection of Income and Other Payments. The Custodian shallshall subject --------------------------------------- to Paragraph 28(f) hereof: (i) collect Collect and receive for the account of the Trustany Portfolio, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustany Portfolio, and promptly advise the Trust of such receipt and shall credit such income, as collected, to such Portfolio of the Trust. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, Securities Depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s 's sole risk, and the Custodian shall be authorized to reverse (A) any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, Securities Depository, broker or agent of agent, and (B) any other payment or crediting, including, without limitation, payments made by check or draft, in the Customer.event it does not receive good funds or final payment; (ii) with With respect to securities of foreign issue, and subject to Paragraph 27 hereof, effect collection of dividends, interest and other income, and to notify promptly transmit to the Trust all reports, written information or notices actually received by Custodian as Custodian, including notices of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueCustodian's own negligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Trust Portfolios and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion.conversions; (iii) endorse Endorse and deposit for collection in the name of the TrustTrust and each of its Portfolios, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive Receive and hold for the account of each of the Trust all Portfolio's securities received by the Trust Portfolios 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 portfolio securities of the Trust Portfolios held by the Custodian hereunder; (v) present Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable, but, with respect to calls, early redemptions, or early retirements, only if Custodian either: (i) receives a written notice of the same, or (ii) notice of the same appears in one or more of the publications then listed in Appendix A hereto, which Appendix may be amended to add other publications at any time by Custodian without prior notice to or consent from the Trust and which may be amended to delete a publication with the prior notice and consent from the Trust; (vi) Subject to Paragraphs 28(e) and (f) hereof, take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; and (vii) with With respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised by the Trust or the investment adviser to the Trust of an earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole reasonable discretion.

Collection of Income and Other Payments. The Custodian U.S. Trust shall: : (i) collect and receive for the account of the TrustFund, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the TrustFund, and promptly advise the Trust Fund of such receipt and shall credit such income, as collected, to the TrustFund. From time to time, the Custodian U.S. Trust may elect to credit, but shall not be so obligated, the account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Fund or the CustodianU.S. Trust. Any such crediting and posting shall be at the Trust’s Fund's sole risk, and the Custodian U.S. Trust shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, broker or agent of the Customer. . (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust Fund of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian U.S. Trust shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issue. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless U.S. Trust is otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian U.S. Trust may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary and competitive rates. All risk and expenses incident to such collection and conversion is are for the account of the Fund and U.S. Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the Trust, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of the Trust all securities received by the Trust 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 portfolio securities of the Trust held by the Custodian hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements for collection of checks, drafts and other negotiable instruments; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.

Collection of Income and Other Payments. The Custodian shallshall subject to Paragraph 28(f) hereof: (i) collect Collect and receive for the account of the Trustany Fund, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustany Fund, and promptly advise the Trust Company of such receipt and shall credit such income, as collected, to such Fund of the TrustCompany. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, Securities Depository, broker or other agent employed by the Trust Company or the Custodian. Any such crediting and posting shall be at the Trust’s Company's sole risk, and the Custodian shall be authorized to reverse (A) any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, Securities Depository, broker or agent of agent, and (B) any other payment or crediting, including, without limitation, payments made by check or draft, in the Customer.event it does not receive good funds or final payment; (ii) with With respect to securities of foreign issue, and subject to Paragraph 27 hereof, effect collection of dividends, interest and other income, and to notify promptly transmit to the Trust Company all reports, written information or notices actually received by Custodian as Custodian, including notices of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueCustodian's own negligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Trust Funds and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion.conversions; (iii) endorse Endorse and deposit for collection in the name of the TrustCompany and each of its Funds, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive Receive and hold for the account of each of the Trust all Fund's securities received by the Trust Funds 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 portfolio securities of the Trust Funds held by the Custodian hereunder; (v) present Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable, but, with respect to calls, early redemptions, or early retirements, only if Custodian either: (i) receives a written notice of the same, or (ii) notice of the same appears in one or more of the publications then listed in Appendix A hereto, which Appendix may be amended to add other publications at any time by Custodian without prior notice to or consent from the Company and which may be amended to delete a publication with the prior notice and consent from the Company; (vi) Subject to Paragraphs 28(e) and (f) hereof, take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; and (vii) with With respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised by the Company or the investment adviser to the Company of an earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s Company's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole reasonable discretion.

Collection of Income and Other Payments. The Custodian shall: (i) collect and receive for the account of any Fund of the Trust, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of any Fund of the Trust, and promptly advise the Trust of such receipt and shall credit such income, as collected, to such Fund of the Trust. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s 's sole risk, and the Custodian shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event that it does not receive good funds from any such payor, central depository, broker or agent of the Customeragent. (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to domestic securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconductnegligence; however, this subparagraph (ii) sentence shall not be construed as creating any such responsibility with respect to securities of non-foreign issue, other than such responsibility of the Custodian. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is for the account of the Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the TrustTrust and each of its Funds, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of each of the Trust Trust's all securities received by the Trust 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 portfolio securities of the Trust held by the Custodian hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instrumentsinstructions; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor therefor, in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s Trust account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.

Collection of Income and Other Payments. The Custodian U.S. Trust shall: (i) collect and receive for the account of the TrustFund, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the TrustFund, and promptly advise the Trust Fund of such receipt and shall credit such income, as collected, to the TrustFund. From time to time, the Custodian U.S. Trust may elect to creditelect, but shall not be so obligated, to credit the account Account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Fund or the CustodianU.S. Trust. Any such crediting and posting shall be at the TrustFund’s sole risk, and the Custodian U.S. Trust shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it U.S. Trust does not receive good funds from any such payor, central depository, broker or agent of the CustomerFund. (ii) with respect to securities of foreign issueissuers held in custody by U.S. Trust hereunder, if any, effect collection of dividends, interest and other income, and to notify the Trust Fund of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian U.S. Trust shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issueissuers, regardless of whether or not the relevant information is published in any financial service available to it U.S. Trust unless such failure or delay is due to its negligence or willful misconduct; however, provided that this subparagraph sub-paragraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueissuers. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars Dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian U.S. Trust may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is for the account of the Fund and U.S. Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the TrustFund, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of the Trust Fund all securities received by the Trust Fund 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 portfolio securities of the Trust Fund held by the Custodian U.S. Trust hereunder;; and (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust Fund understands that the Custodian U.S. Trust subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian U.S. Trust shall not be liable for failure to redeem any called bond or to take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian U.S. Trust shall have acted in good faith without negligence or willful misconductand in accordance with “Street Practice” (as is customary in industry). The Custodian U.S. Trust shall have no duty to notify the Trust Fund of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian U.S. Trust shall forward to the Trust or the appropriate Investment Adviser Fund any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to sell the fraction received and credit the TrustFund’s account. Unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian U.S. Trust is called for partial redemption by the issue issuer of such Property, the Custodian U.S. Trust is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian U.S. Trust in its sole discretion.

Collection of Income and Other Payments. The Custodian shall: (i) collect and receive for the account of any Fund of the TrustCompany, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of any Fund of the TrustCompany, and promptly advise the Trust Company of such receipt and shall credit such income, as collected, to such Fund of the TrustCompany. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Company or the Custodian. Any such crediting and posting shall be at the Trust’s Company's sole risk, and the Custodian shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event that it does not receive good funds from any such payor, central depository, broker or agent of the Customeragent. (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust Company of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to domestic securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconductnegligence; however, this subparagraph (ii) sentence shall not be construed as creating any such responsibility with respect to securities of non-foreign issue, other than such responsibility of the Custodian. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is for the account of the Trust Company and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the TrustCompany and each of its Funds, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of each of the Trust Company's all securities received by the Trust Company 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 portfolio securities of the Trust Company held by the Custodian hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; ; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instrumentsinstructions; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.

Collection of Income and Other Payments. The Custodian U.S. Trust shall:: --------------------------------------- (i) collect and receive for the account of the TrustFund, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the TrustFund, and promptly advise the Trust Fund of such receipt and shall credit such income, as collected, to the TrustFund. From time to time, the Custodian U.S. Trust may elect to creditelect, but shall not be so obligated, to credit the account Account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Fund or the CustodianU.S. Trust. Any such crediting and posting shall be at the Trust’s Fund's sole risk, and the Custodian U.S. Trust shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it U.S. Trust does not receive good funds from any such payor, central depository, broker or agent of the CustomerFund. (ii) with respect to securities of foreign issueissuers held in custody by U.S. Trust hereunder, if any, effect collection of dividends, interest and other income, and to notify the Trust Fund of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian U.S. Trust shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issueissuers, regardless of whether or not the relevant information is published in any financial service available to it U.S. Trust unless such failure or delay is due to its negligence or willful misconduct; however, provided that this subparagraph sub-paragraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueissuers. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars Dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian U.S. Trust may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is for the account of the Fund and U.S. Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the TrustFund, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of the Trust Fund all securities received by the Trust Fund 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 portfolio securities of the Trust Fund held by the Custodian U.S. Trust hereunder;; and (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust Fund understands that the Custodian U.S. Trust subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian U.S. Trust shall not be liable for failure to redeem any called bond or to take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian U.S. Trust shall have acted in good faith without negligence or willful misconductand in accordance with "Street Practice" (as is customary in industry). The Custodian U.S. Trust shall have no duty to notify the Trust Fund of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian U.S. Trust shall forward to the Trust or the appropriate Investment Adviser Fund any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to sell the fraction received and credit the Trust’s Fund's account. Unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian U.S. Trust is called for partial redemption by the issue issuer of such Property, the Custodian U.S. Trust is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian U.S. Trust in its sole discretion.

Collection of Income and Other Payments. The Custodian shall: (i) collect and receive for the account of any Fund of the Trust, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of any Fund of the Trust, and promptly advise the Trust of such receipt and shall credit such income, as collected, to such Fund of the Trust. From time With respect to timenon-foreign issuers, the Custodian may elect to credit, but shall not be so obligated, credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting Custodian (each advance made hereunder shall be at the Trust’s sole risk, and the Custodian shall be authorized subject to reverse any such advance posting after making every reasonable attempt to collect, reversal in the event that (i) payment to which it does relates is not receive good funds from any made within a reasonable time after its due date and (2) the Custodian notifies the Trust within 30 days of such payor, central depository, broker or agent of the Customerdue date that it anticipates a delay in collection). (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issuenegligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is for the account of the Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the TrustTrust and each of its Funds, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of each of the Trust Funds all securities received by the Trust 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 portfolio securities of the Trust held by the Custodian hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; -14- (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted local industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.

Collection of Income and Other Payments. The Custodian shallshall --------------------------------------- subject to Paragraph 28(f) hereof: (i) collect Collect and receive for the account of the Trustany Portfolio, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustany Portfolio, and promptly advise the Trust of such receipt and shall credit such income, as collected, to such Portfolio of the Trust. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, Securities Depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s 's sole risk, and the Custodian shall be authorized to reverse (A) any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, Securities Depository, broker or agent of agent, and (B) any other payment or crediting, including, without limitation, payments made by check or draft, in the Customer.event it does not receive good funds or final payment; (ii) with With respect to securities of foreign issue, and subject to Paragraph 27 hereof, effect collection of dividends, interest and other income, and to notify promptly transmit to the Trust all reports, written information or notices actually received by Custodian as Custodian, including notices of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueCustodian's own negligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Trust Portfolios and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion.conversions; (iii) endorse Endorse and deposit for collection in the name of the TrustTrust and each of its Portfolios, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive Receive and hold for the account of each of the Trust all Portfolio's securities received by the Trust Portfolios 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 portfolio securities of the Trust Portfolios held by the Custodian hereunder; (v) present Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable, but, with respect to calls, early redemptions, or early retirements, only if Custodian either: (i) receives a written notice of the same, or (ii) notice of the same appears in one or more of the publications then listed in Appendix A hereto, which Appendix may be amended to add other publications at any time by Custodian without prior notice to or consent from the Trust and which may be amended to delete a publication with the prior notice and consent from the Trust; (vi) Subject to Paragraphs 28(e) and (f) hereof, take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; and (vii) with With respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised by the Trust or the investment adviser to the Trust of an earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole reasonable discretion.

Collection of Income and Other Payments. The Custodian shallshall subject to Paragraph 28(f) hereof: (i) collect Collect and receive for the account of the Trustany Portfolio, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trustany Portfolio, and promptly advise the Trust of such receipt and shall credit such income, as collected, to such Portfolio of the Trust. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, Securities Depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting shall be at the Trust’s 's sole risk, and the Custodian shall be authorized to reverse (A) any such advance posting after making every reasonable attempt to collect, in the event it does not receive good funds from any such payor, central depository, Securities Depository, broker or agent of agent, and (B) any other payment or crediting, including, without limitation, payments made by check or draft, in the Customer.event it does not receive good funds or final payment; (ii) with With respect to securities of foreign issue, and subject to Paragraph 27 hereof, effect collection of dividends, interest and other income, and to notify promptly transmit to the Trust all reports, written information or notices actually received by Custodian as Custodian, including notices of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueCustodian's own negligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Trust Portfolios and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion.conversions; (iii) endorse Endorse and deposit for collection in the name of the TrustTrust and each of its Portfolios, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive Receive and hold for the account of each of the Trust all Portfolio's securities received by the Trust Portfolios 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 portfolio securities of the Trust Portfolios held by the Custodian hereunder; (v) present Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable, but, with respect to calls, early redemptions, or early retirements, only if Custodian either: (i) receives a written notice of the same, or (ii) notice of the same appears in one or more of the publications then listed in Appendix A hereto, which Appendix may be amended to add other publications at any time by Custodian without prior notice to or consent from the Trust and which may be amended to delete a publication with the prior notice and consent from the Trust; (vi) Subject to Paragraphs 28(e) and (f) hereof, take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;instructions; and (vii) with With respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised by the Trust or the investment adviser to the Trust of an earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s 's account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole reasonable discretion.

Collection of Income and Other Payments. The Custodian Chase shall: (i) collect and receive for the account of the TrustCompany, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the TrustCompany, and promptly advise the Trust Company of such receipt and shall credit such income, as collected, to the TrustCompany. From time to time, the Custodian Chase may elect to creditelect, but shall not be so obligated, to credit the account Account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Company or the CustodianChase. Any such crediting and posting shall be at the Trust’s Company's sole risk, and the Custodian Chase shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it Chase does not receive good funds from any such payor, central depository, broker or agent of the Customer.from (ii) with respect to securities of foreign issueissuers, effect collection of dividends, interest and other income, and to notify the Trust Company of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian Chase shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issueissuers, regardless of whether or not the relevant information is published in any financial service available to it Chase unless such failure or delay is due to its negligence or willful misconduct; however, provided that this subparagraph sub-paragraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueissuers. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars Dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian Chase may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is for the account of the Trust Company and the Custodian Chase shall have no responsibility for fluctuations in exchange rates affecting any such conversion.; (iii) endorse and deposit for collection in the name of the TrustCompany, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of the Trust Company all securities received by the Trust Company 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 portfolio securities of the Trust Company held by the Custodian Chase hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments;; and (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.where

Collection of Income and Other Payments. The Custodian shall: (i) collect and receive for the account of the Trust, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the Trust, and promptly advise the Trust of such receipt and shall credit such income, as collected, to the Trust. From time With respect to timenon-foreign issuers, the Custodian may elect to credit, but shall not be so obligated, credit the account with interest, dividends or principal payments on the payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust or the Custodian. Any such crediting and posting Custodian (each advance made hereunder shall be at the Trust’s sole risk, and the Custodian shall be authorized subject to reverse any such advance posting after making every reasonable attempt to collect, reversal in the event that (i) payment to which it does relates is not receive good funds from any made within a reasonable time after its due date and (2) the Custodian notifies the Trust within 30 days of such payor, central depository, broker or agent of the Customerdue date that it anticipates a delay in collection). (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconduct; however, this subparagraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issuenegligence. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is for the account of the Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the Trust, checks, drafts, or other orders for the payment of money on the same day as received; ; (iv) receive and hold for the account of the Trust all securities received by the Trust 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 portfolio securities of the Trust held by the Custodian hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements for collection of checks, drafts and other negotiable instruments; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.

Collection of Income and Other Payments. The Custodian shall: (i) collect and receive for the account of any Fund of the TrustCompany, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of any Fund of the TrustCompany, and promptly advise the Trust Company of such receipt and shall credit such income, as collected, to such Fund of the TrustCompany. From time to time, the Custodian may elect to creditelect, but shall not be so obligated, to credit the account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Company or the Custodian. Any such crediting and posting shall be at the Trust’s Company's sole risk, and the Custodian shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event that it does not receive good funds from any such payor, central depository, broker or agent of the Customeragent. (ii) with respect to securities of foreign issue, effect collection of dividends, interest and other income, and to notify the Trust Company of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to domestic securities of foreign issue, regardless of whether or not the relevant information is published in any financial service available to it unless such failure or delay is due to its negligence or willful misconductnegligence; however, this subparagraph (ii) sentence shall not be construed as creating any such responsibility with respect to securities of non-foreign issue, other than such responsibility of the Custodian. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is for the account of the Trust Company and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the TrustCompany and each of its Funds, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of each of the Trust Company's all securities received by the Trust Company 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 portfolio securities of the Trust Company held by the Custodian hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instrumentsinstructions; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor therefor, in accordance with accepted industry practice. The Trust understands that the Custodian subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian shall not be liable for failure to redeem any called bond or take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian shall have acted in good faith without negligence or willful misconduct. The Custodian shall have no duty to notify the Trust of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian shall forward to the Trust or the appropriate Investment Adviser any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian is authorized to sell the fraction received and credit the Trust’s Company account. Unless specifically instructed to the contrary in writing, the Custodian is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian is called for partial redemption by the issue issuer of such Property, the Custodian is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian in its sole discretion.

Collection of Income and Other Payments. The Custodian U.S. Trust shall: (i) collect and receive for the account of the TrustFund, all income and other payments and distributions, including (without limitation) stock dividends, rights, warrants and similar items, included or to be included in the Property of the TrustFund, and promptly advise the Trust Fund of such receipt and shall credit such income, as collected, to the TrustFund. From time to time, the Custodian U.S. Trust may elect to creditelect, but shall not be so obligated, to credit the account Account with interest, dividends or principal payments on payable or contractual settlement date, in anticipation of receiving same from a payor, central depository, broker or other agent employed by the Trust Fund or the CustodianU.S. Trust. Any such crediting and posting shall be at the Trust’s Fund's sole risk, and the Custodian U.S. Trust shall be authorized to reverse any such advance posting after making every reasonable attempt to collect, in the event it U.S. Trust does not receive good funds from any such payor, central depository, broker or agent of the CustomerFund. (ii) with respect to securities of foreign issueissuers, effect collection of dividends, interest and other income, and to notify the Trust Fund of any call for redemption, offer of exchange, right of subscription, reorganization, or other proceedings materially affecting such securities, or any default in payments due thereon. It is understood, however, that the Custodian U.S. Trust shall be under no responsibility for any failure or dealing delay in effecting such collections or giving such notice with respect to securities of foreign issueissuers, regardless of whether or not the relevant information is published in any financial service available to it U.S. Trust unless such failure or delay is due to its negligence or willful misconduct; however, provided that this subparagraph sub-paragraph (ii) shall not be construed as creating any such responsibility with respect to securities of non-foreign issueissuers. Collections of income in foreign currency are, to the extent possible, to be converted into United States dollars Dollars unless otherwise instructed by Proper Instructionsin writing, and in effecting such conversion the Custodian U.S. Trust may use such fair and reasonable methods or agencies as it may see fit, including the facilities of its own foreign division at customary rates. All risk and expenses incident to such collection and conversion is are for the account of the Fund, and U.S. Trust and the Custodian shall have no responsibility for fluctuations in exchange rates affecting any such conversion. (iii) endorse and deposit for collection in the name of the TrustFund, checks, drafts, or other orders for the payment of money on the same day as received; (iv) receive and hold for the account of the Trust Fund all securities received by the Trust Fund 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 portfolio securities of the Trust Fund held by the Custodian U.S. Trust hereunder; (v) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed or retired, or otherwise become payable on the date such securities become payable; (vi) take any action which in the opinion of the Custodian may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsements endorsement for collection of checks, drafts and other negotiable instruments; (vii) with respect to domestic securities, to exchange securities in temporary form for securities in definitive form, to effect an exchange of the shares where the par value of stock is changed, and to surrender securities at maturity or when advised of earlier call for redemption, against payment therefor in accordance with accepted industry practice. The Trust Fund understands that the Custodian U.S. Trust subscribes to one or more nationally recognized services that provide information with respect to calls for redemption of bonds or other corporate actions. The Custodian U.S. Trust shall not be liable for failure to redeem any called bond or to take other action if notice of such call or action was not provided by any service to which it subscribes provided that the Custodian U.S. Trust shall have acted in good faith without negligence or willful misconductand in accordance with "Street Practice" (as is customary in industry). The Custodian U.S. Trust shall have no duty to notify the Trust Fund of any rights, duties, limitations, conditions or other information set forth in any security (including mandatory or optional put, call and similar provisions), but the Custodian U.S. Trust shall forward to the Trust or the appropriate Investment Adviser Fund any notices or other documents subsequently received in regard to any such security. When fractional shares of stock of a declaring corporation are received as a stock distribution, unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to sell the fraction received and credit the Trust’s Fund's account. Unless specifically instructed to the contrary in writing, the Custodian U.S. Trust is authorized to exchange securities in bearer form for securities in registered form. If any Property registered in the name of a nominee of the Custodian U.S. Trust is called for partial redemption by the issue issuer of such Property, the Custodian U.S. Trust is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by the Custodian U.S. Trust in its sole discretion.