Common use of Commingled Accounts Clause in Contracts

Commingled Accounts. Custodian may permit a Sub-Custodian to commingle the Securities of Client with Securities of other sub-custodial accounts held by the Sub-Custodian for the account of Custodian and other customers of the Sub-Custodian; provided however, that under no circumstances shall any such sub-custodial account

Commingled Accounts. Custodian may permit a Sub-Custodian to commingle the Securities of Client with Securities of other sub-custodial accounts held by the Sub-Custodian for the account of Custodian and other customers of the Sub-Custodian; provided however, that under no circumstances shall any such sub-custodial accountaccount commingle Securities of Client with securities or other assets beneficially owned by Custodian or such Sub-Custodian.

Commingled Accounts. Custodian may permit a Sub-Custodian to commingle the Securities of Client with Securities of other sub-custodial accounts held by the Sub-Custodian for the account of Custodian and other customers of the Sub-Custodian; provided however, that under no circumstances shall any such sub-custodial accountaccount 6 commingle Securities of Client with securities or other assets beneficially owned by Custodian or such Sub-custodian.