Common use of Custodian Services Clause in Contracts

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds of any issue that (a) are tax exempt, (b) incorporate a daily adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds or notes of any issue that (a) are tax exempt, (b) incorporate a daily an adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law as owner of the securities and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds or notes of any issue that (a) are tax exempt, (b) incorporate a daily an adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian (which may be the Sub-Custodian) to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law as owner of the securities and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds or notes of any issue that (a) are tax exempt, (b) incorporate a daily an adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian (which may be the Sub-Custodian) to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law as owner of the securities and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name case of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by b each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds or notes of any an issue that (a) are tax exempt, (b) incorporate a daily an adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services service of a custodian (which may be the Sub-Custodian) to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. , Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law as owner of the securities and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds or notes of any issue that (a) are tax exempt, (b) incorporate a daily an adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Sub- Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law as owner of the securities and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds of any issue that (a) are tax exempt, (b) incorporate a daily adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds of any issue that (a) are tax exempt, (b) incorporate a daily adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each such Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice advance to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions Instructions of the appropriate Fund and shall consist of bonds of any issue that (a) are tax exempt, (b) incorporate a daily adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 1) hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds or notes of any issue that (a) are tax exempt, (b) incorporate a daily an adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law as owner of the securities and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds or notes of any issue that (a) are tax exempt, (b) incorporate a daily an adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian (which may be the Sub-Custodian) to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from form the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law as owner of the securities and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds of any issue that (a) are tax exempt, (b) incorporate a daily adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds of any issue that (a) are tax exempt, (b) incorporate a daily adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is to entitled by law and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds or notes of any issue that (a) are tax exempt, (b) incorporate a daily an adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from form the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial Custodian account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law as owner of the securities and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Sub- Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds of any issue that (a) are tax exempt, (b) incorporate a daily adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may way be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.

Custodian Services. The Sub-Custodian shall hold in an account in the name of the Custodian, as custodian for the Funds, securities registered in the name of the Sub-Custodian's nominee (the "Account") and owned by each such Fund. Such securities shall be designated by the Custodian upon instructions of the appropriate Fund and shall consist of bonds or notes of any issue that (a) are tax exempt, (b) incorporate a daily an adjustable interest rate that is convertible to interest rates determinable on a variable or a fixed rate basis, (c) entitle the owners of such securities to have such securities purchased on on a daily basis or at certain other specified specific times and (d) require the services of a custodian to establish a book-entry system similar to that set forth in the Relevant Master Custody Agreement (as hereinafter defined in paragraph 13 hereof). Such securities may be commingled with other securities of the same issue or with other securities held in a fiduciary or custodial capacity but shall be physically segregated from all securities held in the Sub-Custodian's individual capacity or for its account. Subject to paragraph 13 hereof, the Sub-Custodian shall release and deliver such securities only upon receipt of instructions from the Custodian. The Sub-Custodian shall collect on a timely basis, and credit to each Fund's Sub-Custodial account, all income and other payments with respect to securities held under this Agreement to which such Fund is entitled by law as owner of the securities and shall notify the Custodian of any income or other payments that are not collected within a reasonable time after they become payable. Payments of income are to be made by wire advice to the account of each Fund so specified on Exhibit A. The Sub-Custodian shall at no time supervise the investment of, or advise or make any recommendations for the sale, purchase or other disposition of securities held under this Agreement. All purchase and sale transactions shall be carried out by the Sub-Custodian only as the Custodian may instruct pursuant to paragraph 3 hereof.