Common use of Custody and Transfer of Securities Clause in Contracts

Custody and Transfer of Securities. After the Issuer has executed a Folio Customer Account Agreement, Folio will, in the ordinary course, and consistent with Folio’s policies and procedures as in existence from time to time, maintain an account for the benefit of Issuer to hold the Securities, whether in certificated or uncertificated form, for the Issuer’s benefit and any other securities or cash as may be purchased and/or deposited or held by the Issuer in its account with Folio. These services, which are subject to the fees specified in Schedule D.1 and replace certain functions of transfer agents under an SEC no-action letter received by Folio Investments, Inc. dated January 13th, 2015 regarding Exchange Act Rule 15c3-3(c)(7), include the following:

Custody and Transfer of Securities. After the Issuer has executed a Folio Customer Account Agreement, Folio will, in the ordinary course, and consistent with Folio’s policies and procedures as in existence from time to time, maintain an account for the benefit of Issuer to hold the Securities, whether in certificated or in uncertificated form, for the Issuer’s benefit and any other securities or cash as may be purchased and/or deposited or held by the Issuer in its account with Folio. These services, which are subject to the fees specified in Schedule D.1 and replace certain functions of transfer agents under an SEC no-action letter received by Folio Investments, Inc. dated January 13th, 2015 regarding Exchange Act Rule 15c3-3(c)(7), include the following: