Common use of COMPLIANCE WITH RULE  17f-7 Clause in Contracts

COMPLIANCE WITH RULE  17f-7. 9.1 The Custodian shall, for consideration by the Trust, provide an analysis in accordance with Rule 17f-7(a)(1)(i)(A) under the 1940 Act of the risks associated with maintaining the Fund’s foreign assets with each Securities Depository used by the Custodian as of the date hereof (or , in the case of a Securities Depository not used by the Custodian as of the date hereof, prior to the initial placement of the Fund’s foreign assets at such Securities Depository) and at which any foreign asset of the Fund are held or are expected to be held. The Custodian will also inform the Trust whether holding assets in a particular Securities Depository is voluntary or compulsory. In connection with the foregoing, the Trust shall notify the Custodian of any Securities Depositories at which it does not choose to have its foreign assets held. The Custodian shall monitor the custody risks associated with maintaining the Fund’s foreign assets at each such Securities Depository on a continuing basis and shall promptly notify the Trust or its investment adviser of any material changes in such risks. 9.2 The Custodian shall exercise such reasonable care, prudence and diligence in performing the requirements of Rule 17f-7 under the 1940 Act or, as applicable, in selecting a sub-custodian that will perform the requirements of Rule 17f-7, as a professional custodian having responsibility for safekeeping of foreign assets or delegating such function to a sub-custodian would exercise.

COMPLIANCE WITH RULE  17f-7. 9.1 The Custodian shall, for consideration by the TrustCorporation, provide an analysis in accordance with Rule 17f-7(a)(1)(i)(A) under the 1940 Act of the risks associated with maintaining the Fund’s 's foreign assets with each Securities Depository used by the Custodian as of the date hereof (or or, in the case of a Securities Depository not used by the Custodian as of the date hereof, prior to the initial placement of the Fund’s 's foreign assets at such Securities Depository) and at which any foreign asset of the Fund are held or are expected to be held. The Custodian will also inform the Trust Corporation whether holding assets in a particular Securities Depository is voluntary or compulsory. In connection with the foregoing, the Trust Corporation shall notify the Custodian of any Securities Depositories at which it does not choose to have its foreign assets held. The Custodian shall monitor the custody risks associated with maintaining the Fund’s 's foreign assets at each such Securities Depository on a continuing basis and shall promptly notify the Trust Corporation or its investment adviser of any material changes in such risks. 9.2 The Custodian shall exercise such reasonable care, prudence and diligence in performing the requirements of Rule 17f-7 under the 1940 Act or, as applicable, in selecting a sub-custodian that will perform the requirements of Rule 17f-7, as a professional custodian having responsibility for safekeeping of foreign assets or delegating such function to a sub-custodian would exercise. 9.3 Based on the information available to it in the exercise of reasonable care, prudence, and diligence, the Custodian or its designated sub-custodian shall determine the eligibility under Rule 17f-7 of each depository and shall promptly advise the Corporation if any such depository ceases to be eligible.

COMPLIANCE WITH RULE  17f-7. 9.1 The Custodian shall, for consideration by the Trust, provide an analysis in accordance with Rule 17f-7(a)(1)(i)(A) under the 1940 Act of the risks associated with maintaining the Fund’s foreign assets with each Securities Depository used by the Custodian as of the date hereof (or , in the case of a Securities Depository not used by the Custodian as of the date hereof, prior to the initial placement of the Fund’s foreign assets at such Securities Depository) and at which any foreign asset of the Fund are held or are expected to be held. The Custodian will also inform the Trust whether holding assets in a particular Securities Depository is voluntary or compulsory. In connection with the foregoing, the Trust shall notify the Custodian of any Securities Depositories at which it does not choose to have its foreign assets held. The Custodian shall monitor the custody risks associated with maintaining the Fund’s foreign assets at each such Securities Depository on a continuing basis and shall promptly notify the Trust or its investment adviser of any material changes in such risks. 9.2 The Custodian shall exercise such reasonable care, prudence and diligence in performing the requirements of Rule 17f-7 under the 1940 Act or, as applicable, in selecting a sub-custodian that will perform the requirements of Rule 17f-7, as a professional custodian having responsibility for safekeeping of foreign assets or delegating such function to a sub-custodian would exercise. 9.3 Based on the information available to it in the exercise of reasonable care, prudence, and diligence, the Custodian or its designated sub-custodian shall determine the eligibility under Rule 17f-7 of each depository and shall promptly advise the Trust if any such depository ceases to be eligible.

COMPLIANCE WITH RULE  17f-7. 9.1 The Custodian shall, for consideration by the TrustCorporation, provide an analysis in accordance with Rule 17f-7(a)(1)(i)(A) under the 1940 Act of the risks associated with maintaining the Fund’s foreign assets with each Securities Depository used by the Custodian as of the date hereof (or , in the case of a Securities Depository not used by the Custodian as of the date hereof, prior to the initial placement of the Fund’s foreign assets at such Securities Depository) and at which any foreign asset of the Fund are held or are expected to be held. The Custodian will also inform the Trust Corporation whether holding assets in a particular Securities Depository is voluntary or compulsory. In connection with the foregoing, the Trust Corporation shall notify the Custodian of any Securities Depositories at which it does not choose to have its foreign assets held. The Custodian shall monitor the custody risks associated with maintaining the Fund’s foreign assets at each such Securities Depository on a continuing basis and shall promptly notify the Trust Corporation or its investment adviser of any material changes in such risks. 9.2 The Custodian shall exercise such reasonable care, prudence and diligence in performing the requirements of Rule 17f-7 under the 1940 Act or, as applicable, in selecting a sub-custodian that will perform the requirements of Rule 17f-7, as a professional custodian having responsibility for safekeeping of foreign assets or delegating such function to a sub-custodian would exercise. 9.3 Based on the information available to it in the exercise of reasonable care, prudence, and diligence, the Custodian or its designated sub-custodian shall determine the eligibility under Rule 17f-7 of each depository and shall promptly advise the Corporation if any such depository ceases to be eligible.

COMPLIANCE WITH RULE  17f-7. 9.1 The Custodian shall, for consideration by the TrustCorporation, provide an analysis in accordance with Rule 17f-7(a)(1)(i)(A) under the 1940 Act of the risks associated with maintaining the Fund’s 's foreign assets with each Securities Depository used by the Custodian as of the date hereof (or , in the case of a Securities Depository not used by the Custodian as of the date hereof, prior to the initial placement of the Fund’s 's foreign assets at such Securities Depository) and at which any foreign asset of the Fund are held or are expected to be held. The Custodian will also inform the Trust Corporation whether holding assets in a particular Securities Depository is voluntary or compulsory. In connection with the foregoing, the Trust Corporation shall notify the Custodian of any Securities Depositories at which it does not choose to have its foreign assets held. The Custodian shall monitor the custody risks associated with maintaining the Fund’s 's foreign assets at each such Securities Depository on a continuing basis and shall promptly notify the Trust Corporation or its investment adviser of any material changes in such risks. 9.2 The Custodian shall exercise such reasonable care, prudence and diligence in performing the requirements of Rule 17f-7 under the 1940 Act or, as applicable, in selecting a sub-custodian that will perform the requirements of Rule 17f-7, as a professional custodian having responsibility for safekeeping of foreign assets or delegating such function to a sub-custodian would exercise.

COMPLIANCE WITH RULE  17f-7. 9.1 The Custodian shall, for consideration by the Trust, provide an analysis in accordance with Rule 17f-7(a)(1)(i)(A) under the 1940 Act of the risks associated with maintaining the Fund’s 's foreign assets with each Securities Depository used by the Custodian as of the date hereof (or or, in the case of a Securities Depository not used by the Custodian as of the date hereof, prior to the initial placement of the Fund’s 's foreign assets at such Securities Depository) and at which any foreign asset of the Fund are held or are expected to be held. The Custodian will also inform the Trust whether holding assets in a particular Securities Depository is voluntary or compulsory. In connection with the foregoing, the Trust shall notify the Custodian of any Securities Depositories at which it does not choose to have its foreign assets held. The Custodian shall monitor the custody risks associated with maintaining the Fund’s 's foreign assets at each such Securities Depository on a continuing basis and shall promptly notify the Trust or its investment adviser of any material changes in such risks. 9.2 The Custodian shall exercise such reasonable care, prudence and diligence in performing the requirements of Rule 17f-7 under the 1940 Act or, as applicable, in selecting a sub-custodian that will perform the requirements of Rule 17f-7, as a professional custodian having responsibility for safekeeping of foreign assets or delegating such function to a sub-custodian would exercise. 9.3 Based on the information available to it in the exercise of reasonable care, prudence, and diligence, the Custodian or its designated sub-custodian shall determine the eligibility under Rule 17f-7 of each depository and shall promptly advise the Trust if any such depository ceases to be eligible.

COMPLIANCE WITH RULE  17f-7. 9.1 The Custodian shall, for consideration by the Trust, provide an analysis in accordance with Rule 17f-7(a)(1)(i)(A) under the 1940 Act of the risks associated with maintaining the Fund’s foreign assets with each Securities Depository used by the Custodian as of the date hereof (or , in the case of a Securities Depository not used by the Custodian as of the date hereof, prior to the initial placement of the Fund’s foreign assets at such Securities Depository) and at which any foreign asset of the Fund are held or are expected to be held. The Custodian will also inform the Trust whether holding assets in a particular Securities Depository is voluntary or compulsory. In connection with the foregoing, the Trust shall notify the Custodian of any Securities Depositories at which it does not choose to have its foreign assets held. The Custodian shall monitor the custody risks associated with maintaining the Fund’s foreign assets at each such Securities Depository on a continuing basis and shall promptly notify the Trust or its investment adviser of any material changes in such risks. 9.2 The Custodian shall exercise such reasonable care, prudence and diligence in performing the requirements of Rule 17f-7 under the 1940 Act or, as applicable, in selecting a sub-custodian that will perform the requirements of Rule 17f-7, as a professional custodian having responsibility for safekeeping of foreign assets or delegating such function to a sub-custodian would exercise.

COMPLIANCE WITH RULE  17f-7. 9.1 The Custodian shall, for consideration by the Trust, provide an analysis in accordance with Rule 17f-7(a)(1)(i)(A) under the 1940 Act of the risks associated with maintaining the Fund’s 's foreign assets with each Securities Depository used by the Custodian as of the date hereof (or , in the case of a Securities Depository not used by the Custodian as of the date hereof, prior to the initial placement of the Fund’s 's foreign assets at such Securities Depository) and at which any foreign asset of the Fund are held or are expected to be held. The Custodian will also inform the Trust whether holding assets in a particular Securities Depository is voluntary or compulsory. In connection with the foregoing, the Trust shall notify the Custodian of any Securities Depositories at which it does not choose to have its foreign assets held. The Custodian shall monitor the custody risks associated with maintaining the Fund’s 's foreign assets at each such Securities Depository on a continuing basis and shall promptly notify the Trust or its investment adviser of any material changes in such risks. 9.2 The Custodian shall exercise such reasonable care, prudence and diligence in performing the requirements of Rule 17f-7 under the 1940 Act or, as applicable, in selecting a sub-custodian that will perform the requirements of Rule 17f-7, as a professional custodian having responsibility for safekeeping of foreign assets or delegating such function to a sub-custodian would exercise. 9.3 Based on the information available to it in the exercise of reasonable care, prudence, and diligence, the Custodian or its designated sub-custodian shall determine the eligibility under Rule 17f-7 of each depository and shall promptly advise the Trust if any such depository ceases to be eligible.

COMPLIANCE WITH RULE  17f-7. 9.1 The Custodian shall, for consideration by the Trust, provide an analysis in accordance with Rule 17f-7(a)(1)(i)(A) under the 1940 Act of the risks associated with maintaining the Fund’s Funds' foreign assets with each Securities Depository used by the Custodian as of the date hereof (or , in the case of a Securities Depository not used by the Custodian as of the date hereof, prior to the initial placement of the Fund’s 's foreign assets at such Securities Depository) and at which any foreign asset assets of the Fund Funds are held or are expected to be held. The Custodian will also inform the Trust whether holding assets in a particular Securities Depository is voluntary or compulsory. In connection with the foregoing, the Trust shall notify the Custodian of any Securities Depositories at which it does not choose to have its foreign assets held. The Custodian shall monitor the custody risks associated with maintaining the Fund’s Trust's foreign assets at each such Securities Depository on a continuing basis and shall promptly notify the Trust or its investment adviser of any material changes in such risks. 9.2 The Custodian shall exercise such reasonable care, prudence and diligence in performing the requirements of Rule 17f-7 under the 1940 Act or, as applicable, in selecting a sub-custodian that will perform the requirements of Rule 17f-7, as a professional custodian having responsibility for safekeeping of foreign assets or delegating such function to a sub-custodian would exercise. 9.3 Based on the information available to it in the exercise of reasonable care, prudence, and diligence, the Custodian or its designated sub-custodian shall determine the eligibility under Rule 17f-7 of each depository and shall promptly advise the Trust if any such depository ceases to be eligible.