Common use of Custodial Acceptance Clause in Contracts

Custodial Acceptance. If all required forms and information are properly submitted, State Street Bank and Trust Company will accept appointment as Custodian of the Custodial Account. However, this Agreement (and the Account Application) is not binding upon the Custodian until the Depositor has received a statement confirming the initial transaction for the Custodial Account. Receipt by the Depositor of a confirmation of the purchase of the Fund shares indicated in the Depositor’s Account Application will serve as notification of State Street Bank and Trust Company’s acceptance of appointment as Custodian of the Custodial Account.

Custodial Acceptance. If all required forms and information are properly submitted, State Street Bank and Trust Company will accept appointment as Custodian of the Custodial Depositor’s Account. However, this Agreement (and the Account Application) is not binding upon the Custodian until the Depositor has received a statement confirming the initial transaction for the Custodial Account. Receipt by the Depositor of a confirmation of the purchase of the Fund shares indicated in the Depositor’s Account Application will serve as notification of State Street Bank and Trust Company’s acceptance of appointment as Custodian of the Custodial Depositor’s Account.