Common use of COLLECTION OF INCOME AND PRINCIPAL Clause in Contracts

COLLECTION OF INCOME AND PRINCIPAL. The Custodian shall from time to time take necessary action(s) to collect dividends, interest payments, payments made on account of called and matured Financial Assets, and any other payments with respect to such Financial Assets deposited into or held or maintained in the Custody Account, when such payments shall become owing; provided that so long as Custodian's actions are in compliance with the standard of care set forth in Section 7.17, Custodian shall not be responsible for failure to receive payment of (or late payment of) distributions with respect to Financial Assets or other property held in the Custody Account. Upon receipt of such funds collected hereunder, Custodian will use its best efforts to deposit such collected funds into the Custody Account on the same business day upon which such collected funds are received by the Custodian. Accordingly, in making collections of income or principal hereunder, the Custodian may to the extent necessary or required by any applicable law of any sovereign body, including the United States, or a State, and solely to such extent, execute on behalf of the Fund certificates or other like documents. All cash shall be held and maintained in the Custody Account subject to further instruction from the Fund. In the event the Custody Account is credited by the Custodian in anticipation of the Custodian's collection of monies, and the Custodian is unable to collect such monies, the Fund agrees that it shall promptly upon telephonic notice from the Custodian, return an amount equal to the amount so credited and not collected to the Custodian in immediately available funds.

COLLECTION OF INCOME AND PRINCIPAL. The Custodian shall from time to time take necessary action(s) to collect dividends, interest payments, payments made on account of called and matured Financial Assets, and any other payments with respect to such Financial Assets deposited into or held or maintained in the a Custody Account, when such payments shall become owing; provided that so long as Custodian's actions are in compliance with the standard of care set forth in Section 7.17, Custodian shall not be responsible for failure to receive payment of (or late payment of) distributions with respect to Financial Assets or other property held in the Custody Account. Upon receipt of such funds collected hereunder, Custodian will use its best efforts to deposit such collected funds into the Custody Account on the same business day upon which such collected funds are received by the Custodian. Accordingly, in making collections of income or principal hereunder, the Custodian may to the extent necessary or required by any applicable law of any sovereign body, including the United States, or a State, and solely to such extent, execute on behalf of the Fund Trust certificates or other like documents. All cash shall be held and maintained in the a Custody Account subject to further instruction from the FundTrust. In the event the a Custody Account is credited by the Custodian in anticipation of the Custodian's collection of monies, and the Custodian is unable to collect such monies, the Fund Trust agrees that it shall promptly upon telephonic notice from the Custodian, return an amount equal to the amount so credited and not collected to the Custodian in immediately available funds.

COLLECTION OF INCOME AND PRINCIPAL. The Custodian shall from time to time take necessary action(s) to collect dividends, interest payments, payments made on account of called and matured Financial Assets, and any other payments with respect to such Financial Assets deposited into or held or maintained in the Custody Account, when such payments shall become owing; provided that so long as Custodian's ’s actions are in compliance with the standard of care set forth in Section 7.17, Custodian shall not be responsible for failure to receive payment of (or late payment of) distributions with respect to Financial Assets or other property held in the Custody Account. Upon receipt of such funds collected hereunder, Custodian will use its best efforts to deposit such collected funds into the Custody Account on the same business day upon which such collected funds are received by the Custodian. Accordingly, in making collections of income or principal hereunder, the Custodian may to the extent necessary or required by any applicable law of any sovereign body, including the United States, or a State, and solely to such extent, execute on behalf of the Fund certificates or other like documents. All cash shall be held and maintained in the Custody Account subject to further instruction from the Fund. In the event the Custody Account is credited by the Custodian in anticipation of the Custodian's ’s collection of monies, and the Custodian is unable to collect such monies, the Fund agrees that it shall promptly upon telephonic notice from the Custodian, return an amount equal to the amount so credited and not collected to the Custodian in immediately available funds.