Common use of CUSTODY CASH ACCOUNT PAYMENTS Clause in Contracts

CUSTODY CASH ACCOUNT PAYMENTS. (A) Except as otherwise provided herein, the Custodian shall make, or cause its agents to make, payments of cash credited to the Custody Cash Account: (i) in connection with the purchase of Property (other than cash) for the account of the Client in accordance with Instructions; (ii) in payment for the account of the Client of (A) all Taxes, claims, liabilities, fees, costs and expenses incurred by the Custodian or its agents under or in connection with the terms of this Agreement, and (B) all amounts owed to the Custodian pursuant to the Fee Agreement; (iii) for payments to be made in connection with the conversion, exchange or surrender of Property held in the Custody Account; (iv) pursuant to assured payment obligations incurred in the capacity of settlement bank on behalf of the Client within a relevant Clearance System; (v) for other purposes as may be specified by the Client in its Instructions; or (vi) upon the termination of this Agreement on the terms hereof; PROVIDED THAT, unless otherwise agreed, the payments referred to above shall not exceed the funds available in the Custody Cash Account at any time. The Client shall promptly reimburse the Custodian for any advance of cash or any such taxes, charges, expenses, assessments, claims or liabilities upon request for payment. Notwithstanding the foregoing, nothing in this Agreement shall obligate the Custodian to extend credit, grant financial accommodation or otherwise advance moneys to the Client or assume financial risk on behalf of the Client for the purpose of meeting any such payments or otherwise carrying out any Instructions. (B) Unless otherwise provided herein, the proceeds from the sale or exchange of Property will be credited to the Custody Cash Account on the date the proceeds are actually received by the Custodian.

CUSTODY CASH ACCOUNT PAYMENTS. (A) Except as otherwise provided herein, the Custodian shall make, or cause its agents to make, payments of cash credited to the Custody Cash Account: (i) in connection with the purchase of Property (other than cash) for the account of the Client in accordance with Instructions; (ii) in payment for the account of the Client of (A) all Taxes, claims, liabilities, fees, costs and expenses incurred by the Custodian or its agents under or in connection with the terms of this Agreement, and (B) all amounts owed to the Custodian pursuant to the Fee Agreement; (iii) for payments to be made in connection with the conversion, exchange or surrender of Property held in the Custody Account; (iv) pursuant to assured payment Assured Payment obligations incurred in the capacity of settlement bank on behalf of the Client within a relevant Clearance System; (v) for other purposes as may be specified by the Client in its Instructions; or (vi) upon the termination of this Agreement on the terms hereof; PROVIDED THAT, unless otherwise agreed, the payments referred to above shall not exceed the funds available in the Custody Cash Account at any time. The Client shall promptly reimburse the Custodian for any advance of cash or any such taxes, charges, expenses, assessments, claims or liabilities upon request for payment. Notwithstanding the foregoing, nothing in this Agreement shall obligate the Custodian to extend credit, grant financial accommodation or otherwise advance moneys to the Client or assume financial risk on behalf of the Client for the purpose of meeting any such payments or otherwise carrying out any Instructions. (B) Unless otherwise provided herein, the proceeds from the sale or exchange of Property will be credited to the Custody Cash Account on the date the proceeds are actually received by the Custodian.

CUSTODY CASH ACCOUNT PAYMENTS. (A) Except as otherwise provided herein, the Custodian shall make, or cause its agents to make, payments of cash credited to the Custody Cash Account: (i) in connection with the purchase of Property (other than cash) for the account of the Client in accordance with Instructions; (ii) in payment for the account of the Client of (A) all Taxes, claims, liabilities, fees, costs and expenses reasonably incurred by the Custodian or its agents under or in connection with the terms of this Agreement, and (B) all amounts owed to the Custodian pursuant to the Fee Agreement; (iii) for payments to be made in connection with the conversion, exchange or surrender of Property held in the Custody Account; (iv) pursuant to assured payment obligations incurred in the capacity of settlement bank on behalf of the Client within a relevant Clearance System; (v) for other purposes as may be specified by the Client in its Instructions; or (vi) upon the termination of this Agreement on the terms hereof; PROVIDED THAT, unless otherwise agreed, the payments referred to above shall not exceed the funds available in the Custody Cash Account at any time. The Client shall promptly reimburse the Custodian for any advance of cash or any such taxes, charges, expenses, assessments, claims or liabilities upon request for payment. Notwithstanding the foregoing, nothing in this Agreement shall obligate the Custodian to extend credit, grant financial accommodation or otherwise advance moneys to the Client or assume financial risk on behalf of the Client for the purpose of meeting any such payments or otherwise carrying out any Instructions. (B) Unless otherwise provided herein, the proceeds from the sale or exchange of Property will be credited to the Custody Cash Account on the date the proceeds are actually received by the Custodian.

CUSTODY CASH ACCOUNT PAYMENTS. (A) Except as otherwise provided herein, the Custodian shall make, or cause its agents to make, payments of cash credited to the Custody Cash Account: (i) in connection with the purchase of Property (other than cash) for the account of the Client in accordance with Instructions; (ii) in payment for the account of the Client of (A) all Taxes, claims, liabilities, fees, costs and expenses incurred by the Custodian or its agents under or in connection with the terms of this Agreement, and (B) all amounts owed to the Custodian pursuant to the Fee Agreement; (iii) for payments to be made in connection with the conversion, exchange or surrender of Property held in the Custody Account; (iv) pursuant to assured payment Assured Payment obligations incurred in the capacity of settlement bank on behalf of the Client within a relevant Clearance System; (v) for other purposes as may be specified by the Client in its Instructions; oror -------------------------------------------------------------------------------- #343 9 NEG 4/00 vNYGCSA V-1/97 NONSTD/Ex7(a)Citibank.doc (vi) upon the termination of this Agreement on the terms hereof; PROVIDED THAT, unless otherwise agreed, the payments referred to above shall not exceed the funds available in the Custody Cash Account at any time. The Client shall promptly reimburse the Custodian for any advance of cash or any such taxes, charges, expenses, assessments, claims or liabilities upon request for payment. Notwithstanding the foregoing, nothing in this Agreement shall obligate the Custodian to extend credit, grant financial accommodation or otherwise advance moneys to the Client or assume financial risk on behalf of the Client for the purpose of meeting any such payments or otherwise carrying out any Instructions. (B) Unless otherwise provided herein, the proceeds from the sale or exchange of Property will be credited to the Custody Cash Account on the date the proceeds are actually received by the Custodian.

CUSTODY CASH ACCOUNT PAYMENTS. (A) Except as otherwise provided herein, the Custodian shall make, or cause its agents to make, payments of cash credited to the Custody Cash Account: (i) in connection with the purchase of Property (other than cash) for the account of the Client in accordance with Instructions; (ii) in payment for the account of the Client of (A) all Taxes, claims, liabilities, fees, costs and expenses incurred by the Custodian or its agents under or in connection with the terms of this Agreement, and (B) all amounts owed to the Custodian pursuant to the Fee Agreement; (iii) for payments to be made in connection with the conversion, exchange or surrender of Property held in the Custody Account; (iv) pursuant to assured payment obligations incurred in the capacity of settlement bank on behalf of the Client within a relevant Clearance System; (v) for other purposes as may be specified by the Client in its Instructions; or (vi) upon the termination of this Agreement on the terms hereof; PROVIDED THAT, unless otherwise agreed, the payments referred to above shall not exceed the funds available in the Custody Cash Account at any time. The Client shall promptly reimburse the Custodian for any advance of cash or any such taxes, charges, expenses, assessments, claims or liabilities upon request for payment. Notwithstanding the foregoing, nothing in this Agreement shall obligate the Custodian to extend credit, grant financial accommodation or otherwise advance moneys to the Client or assume financial risk on behalf of the Client for the purpose of meeting any such payments or otherwise carrying out any Instructions. (B) Unless otherwise provided herein, the proceeds from the sale or exchange of Property will be credited to the Custody Cash Account on the date the proceeds are actually received by the Custodian.. -------------------------------------------------------------------------------- vii [CITIBANK LOGO] --------------------------------------------------------------------------------

CUSTODY CASH ACCOUNT PAYMENTS. (A) Except as otherwise provided herein, the Custodian shall make, or cause its agents to make, payments of cash credited to the Custody Cash Account: (i) in connection with the purchase of Property (other than cash) for the account of the Client in accordance with Instructions; (ii) in payment for the account of the Client of (A) all Taxes, claims, liabilities, fees, costs and expenses reasonably incurred by the Custodian or its agents under or in connection with the terms of this Agreement; provided however, no such payments shall be made for any unusual or non-routine claims or liabilities unless prior notice is given and the Client consent is obtained and (B) all amounts owed to the Custodian pursuant to the Fee Agreement; (iii) for payments to be made in connection with the conversion, exchange or surrender of Property held in the Custody Account; (iv) pursuant to assured payment obligations incurred in the capacity of settlement bank on behalf of the Client within a relevant Clearance System; (v) for other purposes as may be specified by the Client in its Instructions; or (vi) upon the termination of this Agreement on the terms hereof; PROVIDED THAT, unless otherwise agreed, the payments referred to above shall not exceed the funds available in the Custody Cash Account at any time. The Client shall promptly reimburse the Custodian for any advance of cash or any such taxes, charges, expenses, assessments, claims or liabilities upon request for payment. Notwithstanding the foregoing, nothing in this Agreement shall obligate the Custodian to extend credit, grant financial accommodation or otherwise advance moneys to the Client or assume financial risk on behalf of the Client for the purpose of meeting any such payments or otherwise carrying out any Instructions. (B) Unless otherwise provided herein, the proceeds from the sale or exchange of Property will be credited to the Custody Cash Account on the date the proceeds are actually received by the Custodian.