Common use of Custodian Actions with Direction Clause in Contracts

Custodian Actions with Direction. The Custodian shall take the following actions in the administration of the Accounts only pursuant to Authorized Instructions: (a) Settle purchases and sales of Securities and process other transactions, including free receipts and deliveries to a broker, dealer, futures commission merchant or other third party specified in Instructions; (b) Take actions necessary to settle transactions in connection with futures, options on futures or securities, securities futures products, short-selling programs, foreign exchange or foreign exchange contracts, swaps and other derivative investments; and (c) Deliver Securities in an Account if an Authorized Person advises the Custodian that the Fund has entered into a separate securities lending agreement, provided that the Fund executes such agreements as the Custodian may require in connection with such arrangements.

Custodian Actions with Direction. The Custodian shall take the following actions in the administration of the Accounts only pursuant to Authorized Instructions: (a) Settle purchases and sales of Securities and process other transactions, including free receipts and deliveries to a broker, dealer, futures future commission merchant or other third party specified in Instructions; (b) Take actions necessary to settle transactions in connection with futures, options on futures or securities, securities futures productsoptions contracts, short-selling programs, foreign exchange or foreign exchange contracts, swaps and other derivative investments; and (c) Deliver Securities in an Account if an Authorized Person advises the Custodian that the Fund Customer has entered into a separate securities lending agreement, provided that the Fund Customer executes such agreements as the Custodian may require in connection with such arrangements.