Custody of Cash and Securities. 1. The Fund will deliver or cause to be delivered to the Custodian all securities and all moneys owned by it, including cash received for the issuance of its shares, at any time during the period of this Agreement. The Custodian will not be responsible for such securities and such moneys until actually received by it. The Fund shall instruct the Custodian from time to time in its sole discretion, by means of a certificate signed in the name of the Fund by two officers in accordance with the provisions of Article IX, or in connection with the purchase or sale of money market securities, by means of the oral instructions of an authorized person, as to the manner in which and in what amounts such securities and moneys are to be deposited on behalf of the Fund in the Book-Entry System or the depository, as each term is defined in Article IX; provided, however, that prior to the deposit of securities of the Fund in either the Book-Entry System or the depository, including a deposit in connection with the settlement of a purchase or sale, or a delivery of loan collateral, the Custodian shall have received a certified resolution of the Fund's Board of Directors specifically approving such deposits by the Custodian on behalf of the Fund in the Book-Entry System or the depository as the case may be. Securities and moneys of the Fund deposited in either the Book-Entry System or the depository, as the case may be, will be represented in accounts which include only assets held by the Custodian for its customers, in fiduciary or representative capacity. 2. The Custodian shall credit to a separate account in the name of the Fund all moneys received by it for the account of the Fund, and shall disburse the same only: (a) In payment for securities purchased, as provided in Article III hereof; (b) In payment of dividends or distributions as provided in Article IV hereof; or (c) In payment of original issue or other taxes, as provided in Article V hereof; or (d) In payment for capital stock of the Fund redeemed by it, as provided in Article V hereof; or, (e) Pursuant to certificates, notices or written instructions of the Fund, signed in its name by any two officers (as defined in Article IX) or, with respect to money market securities, as defined in Article IX, the oral instructions of an authorized person, as defined in Article IX, setting forth the name and address of the person to whom payment is to be made, the amount to be paid, and the corporate purpose for which payment is to be made; or (f) In payment of the fees and in reimbursement of the expenses and liabilities of the Custodian, as provided in Article VII hereof. 3. The Custodian shall notify the Fund promptly after the close of business on each day with a statement summarizing all transactions and entries for the account of the Fund during said day; and it shall, at least monthly and from time to time, render a detailed statement of the securities and moneys held for the Fund under this Agreement. The Custodian shall send the Fund confirmation of any purchase or sale of securities and by book entry or otherwise identify as belonging to the Fund a quantity of securities in a fungible bulk of securities registered in the name of the Custodian (or its nominee) or shown on the Custodian's account on the books of the depository or the Book-Entry System. 4. All securities held for the Fund, which are issued or issuable only in bearer form, except such securities as are held in the Book-Entry System, shall be held by the Custodian in that form; all other securities held for the Fund may be registered in the name of the Fund, in the name of any duly appointed registered nominee of the Custodian, as the Custodian may from time to time determine, or in the name of the Book-Entry System or the depository or their successor or successors, or their nominee or nominees. The Fund agrees to furnish to the Custodian appropriate instruments to enable the Custodian to hold or deliver in proper form for transfer, or to register in the name of its registered nominee or in the name of the Book-Entry System or the depository any securities which it may hold for the account of the Fund and which may from time to time be registered in the name of the Fund. The Custodian shall hold all such securities which are not held in the Book-Entry System or in the depository in a separate account in the name of the Fund physically segregated at all times from those of any other person or persons. The Fund hereby acknowledges its right to receive written confirmation of each transaction, but waives that right upon receiving monthly statements of activity as agreed upon. 5. Unless otherwise instructed to the contrary by a certificate signed in the name of the Fund by any two officers, the Custodian by itself, or through the use of the Book-Entry System or the depository with respect to securities therein deposited, shall with respect to all securities held for the Fund in accordance with this Agreement: (a) Collect all income due or payable per usual and customary practices; (b) Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed, or retired, or otherwise become payable; (c) Surrender securities in temporary form for definitive securities; (d) Execute, as Custodian, any necessary declarations or certificates of ownership under the Federal Income Tax Laws or the laws or regulations of any other taxing authority now or hereafter in effect; (e) Hold directly, or through the Book-Entry System or the depository with respect to securities therein deposited, for the account of the Fund all stock dividends, rights and similar securities issued with respect to any securities held by the Custodian hereunder. 6. Upon receipt of a certificate signed in the name of the Fund by any two officers as defined in Article IX, and not otherwise, the Custodian shall: (a) Execute and deliver to such persons as may be designated in such certificate, proxies, consents, authorizations, and any other instruments whereby the authority of the Fund as owner of any securities may be exercised; (b) Deliver any securities held for the Fund in exchange for other securities or cash issued or paid in connection with the liquidation, reorganization, refinancing, merger, consolidation or recapitalization of any corporation, or the exercise of any conversion privilege; (c) Deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement, such certificates of deposit, interim receipts or other instruments or documents as may be issued to it to evidence such delivery; (d) Make such transfers or exchanges of the assets of the Fund, and take such other steps, as shall be stated in said certificate to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation or recapitalization of the Fund. 7. Notwithstanding anything elsewhere contained herein to the contrary, the Fund hereby authorizes the Custodian for the term of this Agreement, if it so desires, to maintain in its account(s) with MSTC in a manner consistent and in accordance with the Investment Company Act of 1940 and any rules and regulations thereunder, securities, if any, as may from time to time be held for the Fund and are subject to covered call options issued or written by the Fund.
Appears in 1 contract
Samples: Custodian Agreement (Iaa Trust Tax Exempt Bond Fund Inc)
Custody of Cash and Securities. 1. The Fund will deliver or cause to be delivered to the Custodian all securities and all moneys owned by it, including cash received for the issuance of its shares, at any time during the period of this Agreement. The Custodian will not be responsible for such securities and such moneys until actually received by it. The Fund shall instruct the Custodian from time to time in its sole discretion, by means of a certificate signed in the name of the Fund by two officers in accordance with the provisions of Article IX, or in connection with the purchase or sale of money market securities, by means of the oral instructions of an authorized person, as to the manner in which and in what amounts such securities and moneys are to be deposited on behalf of the Fund in the Book-Entry System or the depository, as each term is defined in Article IX; provided, however, that prior to the deposit of securities of the Fund in either the Book-Entry System or the depository, including a deposit in connection with the settlement of a purchase or sale, or a delivery of loan collateral, the Custodian shall have received a certified resolution of the Fund's Board of Directors specifically approving such deposits by the Custodian on behalf of the Fund in the Book-Entry System or the depository as the case may be. Securities and moneys of the Fund deposited in either the Book-Entry System or the depository, as the case may be, will be represented in accounts which include only assets held by the Custodian for its customers, in fiduciary or representative capacity.
2. The Custodian shall credit to a separate account in the name of the Fund all moneys received by it for the account of the Fund, and shall disburse the same only:
(a) In payment for securities purchased, as provided in Article III hereof;
(b) In payment of dividends or distributions as provided in Article IV hereof; or
(c) In payment of original issue or other taxes, as provided in Article V hereof; or
(d) In payment for capital stock of the Fund redeemed by it, as provided in Article V hereof; or,
(e) Pursuant to certificates, notices or written instructions of the Fund, signed in its name by any two officers (as defined in Article IX) or, with respect to money market securities, as defined in Article IX, the oral instructions of an authorized person, as defined in Article IX, setting forth the name and address of the person to whom payment is to be made, the amount to be paid, and the corporate purpose for which payment is to be made; or
(f) In payment of the fees and in reimbursement of the expenses and liabilities of the Custodian, as provided in Article VII hereof.
3. The Custodian shall notify the Fund promptly after the close of business on each day with a statement summarizing all transactions and entries for the account of the Fund during said day; and it shall, at least monthly and from time to time, render a detailed statement of the securities and moneys held for the Fund under this Agreement. The Custodian shall send the Fund confirmation of any purchase or sale of securities and by book entry or otherwise identify as belonging to the Fund a quantity of securities in a fungible bulk of securities registered in the name of the Custodian (or its nominee) or shown on the Custodian's account on the books of the depository or the Book-Entry System.
4. All securities held for the Fund, which are issued or issuable only in bearer form, except such securities as are held in the Book-Entry System, shall be held by the Custodian in that form; all other securities held for the Fund may be registered in the name of the Fund, in the name of any duly appointed registered nominee of the Custodian, as the Custodian may from time to time determine, or in the name of the Book-Entry System or the depository or their successor or successors, or their nominee or nominees. The Fund agrees to furnish to the Custodian appropriate instruments to enable the Custodian to hold or deliver in proper form for transfer, or to register in the name of its registered nominee or in the name of the Book-Entry System or the depository any securities which it may hold for the account of the Fund and which may from time to time be registered in the name of the Fund. The Custodian shall hold all such securities which are not held in the Book-Entry System or in the depository in a separate account in the name of the Fund physically segregated at all times from those of any other person or persons. The Fund hereby acknowledges its right to receive written confirmation of each transaction, but waives that right upon receiving monthly statements of activity as agreed upon.
5. Unless otherwise instructed to the contrary by a certificate signed in the name of the Fund by any two officers, the Custodian by itself, or through the use of the Book-Entry System or the depository with respect to securities therein deposited, shall with respect to all securities held for the Fund in accordance with this Agreement:
(a) Collect all income due or payable per usual and customary practices;
(b) Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed, or retired, or otherwise become payable;
(c) Surrender securities in temporary form for definitive securities;
(d) Execute, as Custodian, any necessary declarations or certificates of ownership under the Federal Income Tax Laws or the laws or regulations of any other taxing authority now or hereafter in effect;
(e) Hold directly, or through the Book-Entry System or the depository with respect to securities therein deposited, for the account of the Fund all stock dividends, rights and similar securities issued with respect to any securities held by the Custodian hereunder.
6. Upon receipt of a certificate signed in the name of the Fund by any two officers as defined in Article IX, and not otherwise, the Custodian shall:
(a) Execute and deliver to such persons as may be designated in such certificate, proxies, consents, authorizations, and any other instruments whereby the authority of the Fund as owner of any securities may be exercised;
(b) Deliver any securities held for the Fund in exchange for other securities or cash issued or paid in connection with the liquidation, reorganization, refinancing, merger, consolidation or recapitalization of any corporation, or the exercise of any conversion privilege;
(c) Deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement, such certificates of deposit, interim receipts or other instruments or documents as may be issued to it to evidence such delivery;
(d) Make such transfers or exchanges of the assets of the Fund, and take such other steps, as shall be stated in said certificate to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation or recapitalization of the Fund.
7. Notwithstanding anything elsewhere contained herein to the contrary, the Fund hereby authorizes the Custodian for the term of this Agreement, if it so desires, to maintain in its account(s) with MSTC in a manner consistent and in accordance with the Investment Company Act of 1940 and any rules and regulations thereunder, securities, if any, as may from time to time be held for the Fund and are subject to covered call options issued or written by the Fund.
Appears in 1 contract
Custody of Cash and Securities. 1. The Fund will deliver or cause to be delivered to the Custodian all securities and all moneys owned by it, including cash received for the issuance of its shares, at any time during the period of this Agreement. The Custodian will not be responsible for such securities and such moneys until actually received by it. The Fund shall instruct the Custodian from time to time in its sole discretion, by means of a certificate signed in the name of the Fund by two officers in accordance with the provisions of Article IX, or in connection with the purchase or sale of money market securities, by means of the oral instructions of an authorized person, as to the manner in which and in what amounts such securities and moneys are to be deposited on behalf of the Fund in the Book-Entry System or the depository, as each term is defined in Article IX; provided, however, that prior to the deposit of securities of the Fund in either the Book-Entry System or the depository, including a deposit in connection with the settlement of a purchase or sale, or a delivery of loan collateral, the Custodian shall have received a certified resolution of the Fund's Board of Directors Trustees specifically approving such deposits by the Custodian on behalf of the Fund in the Book-Entry System or the depository as the case may be. Securities and moneys of the Fund deposited in either the Book-Entry System or the depository, as the case may be, will be represented in accounts which include only assets held by the Custodian for its customers, in fiduciary or representative capacity.
2. The Custodian shall credit to a separate account in the name of the Fund all moneys received by it for the account of the Fund, and shall disburse the same only:
(a) In payment for securities purchased, as provided in Article III hereof;
(b) In payment of dividends or distributions as provided in Article IV hereof; or
(c) In payment of original issue or other taxes, as provided in Article V hereof; or
(d) In payment for capital stock of the Fund redeemed by it, as provided in Article V hereof; or,
(e) Pursuant to certificates, notices or written instructions of the Fund, signed in its name by any two officers (as defined in Article IX) or, with respect to money market securities, as defined in Article IX, the oral instructions of an authorized person, as defined in Article IX, setting forth the name and address of the person to whom payment is to be made, the amount to be paid, and the corporate purpose for which payment is to be made; or
(f) In payment of the fees and in reimbursement of the expenses and liabilities of the Custodian, as provided in Article VII hereof.
3. The Custodian shall notify the Fund promptly after the close of business on each day with a statement summarizing all transactions and entries for the account of the Fund during said day; and it shall, at least monthly and from time to time, render a detailed statement of the securities and moneys held for the Fund under this Agreement. The Custodian shall send the Fund confirmation of any purchase or sale of securities and by book entry or otherwise identify as belonging to the Fund a quantity of securities in a fungible bulk of securities registered in the name of the Custodian (or its nominee) or shown on the Custodian's account on the books of the depository or the Book-Entry System.
4. All securities held for the Fund, which are issued or issuable only in bearer form, except such securities as are held in the Book-Entry System, shall be held by the Custodian in that form; all other securities held for the Fund may be registered in the name of the Fund, in the name of any duly appointed registered nominee of the Custodian, as the Custodian may from time to time determine, or in the name of the Book-Entry System or the depository or their successor or successors, or their nominee or nominees. The Fund agrees to furnish to the Custodian appropriate instruments to enable the Custodian to hold or deliver in proper form for transfer, or to register in the name of its registered nominee or in the name of the Book-Entry System or the depository any securities which it may hold for the account of the Fund and which may from time to time be registered in the name of the Fund. The Custodian shall hold all such securities which are not held in the Book-Entry System or in the depository in a separate account in the name of the Fund physically segregated at all times from those of any other person or persons. The Fund hereby acknowledges its right to receive written confirmation of each transaction, but waives that right upon receiving monthly statements of activity as agreed upon.
5. Unless otherwise instructed to the contrary by a certificate signed in the name of the Fund by any two officers, the Custodian by itself, or through the use of the Book-Entry System or the depository with respect to securities therein deposited, shall with respect to all securities held for the Fund in accordance with this Agreement:
(a) Collect all income due or payable per usual and customary practices;
(b) Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed, or retired, or otherwise become payable;
(c) Surrender securities in temporary form for definitive securities;
(d) Execute, as Custodian, any necessary declarations or certificates of ownership under the Federal Income Tax Laws or the laws or regulations of any other taxing authority now or hereafter in effect;
(e) Hold directly, or through the Book-Entry System or the depository with respect to securities therein deposited, for the account of the Fund all stock dividends, rights and similar securities issued with respect to any securities held by the Custodian hereunder.
6. Upon receipt of a certificate signed in the name of the Fund by any two officers as defined in Article IX, and not otherwise, the Custodian shall:
(a) Execute and deliver to such persons as may be designated in such certificate, proxies, consents, authorizations, and any other instruments whereby the authority of the Fund as owner of any securities may be exercised;
(b) Deliver any securities held for the Fund in exchange for other securities or cash issued or paid in connection with the liquidation, reorganization, refinancing, merger, consolidation or recapitalization of any corporation, or the exercise of any conversion privilege;
(c) Deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement, such certificates of deposit, interim receipts or other instruments or documents as may be issued to it to evidence such delivery;
(d) Make such transfers or exchanges of the assets of the Fund, and take such other steps, as shall be stated in said certificate to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation or recapitalization of the Fund.
7. Notwithstanding anything elsewhere contained herein to the contrary, the Fund hereby authorizes the Custodian for the term of this Agreement, if it so desires, to maintain in its account(s) with MSTC DTC in a manner consistent and in accordance with the Investment Company Act of 1940 and any rules and regulations thereunder, securities, if any, as may from time to time be held for the Fund and are subject to covered call options issued or written by the Fund.
Appears in 1 contract
Custody of Cash and Securities. 1. The Fund will deliver or cause to be delivered to the Custodian all securities and all moneys owned by it, including cash received for the issuance of its shares, at any time during the period of this Agreement. The Custodian will not be responsible for such securities and such moneys until actually received by it. The Fund shall instruct the Custodian from time to time in its sole discretion, by means of a certificate signed in the name of the Fund by two officers in accordance with the provisions of Article IX, or in connection with the purchase or sale of money market securities, by means of the oral instructions of an authorized person, as to the manner in which and in what amounts such securities and moneys are to be deposited on behalf of the Fund in the Book-Entry System or the depository, as each term is defined in Article IX; provided, however, that prior to the deposit of securities of the Fund in either the Book-Entry System or the depository, including a deposit in connection with the settlement of a purchase or sale, or a delivery of loan collateral, the Custodian shall have received a certified resolution of the Fund's Board of Directors specifically approving such deposits by the Custodian on behalf of the Fund in the Book-Entry System or the depository as the case may be. Securities and moneys of the Fund deposited in either the Book-Entry System or the depository, as the case may be, will be represented in accounts which include only assets held by the Custodian for its customers, in fiduciary or representative capacity.
2. The Custodian shall credit to a separate account in the name of the Fund all moneys received by it for the account of the Fund, and shall disburse the same only:
(a) In payment for securities purchased, as provided in Article III hereof;; or
(b) In payment of dividends or distributions as provided in Article IV hereof; or
(c) In payment of original issue or other taxes, as provided in Article V hereof; or
(d) In payment for capital stock of the Fund redeemed by it, as provided in Article V hereof; or,
(e) Pursuant to certificates, notices or written instructions of the Fund, signed in its name by any two officers (as defined in Article IX) or, with respect to money market securities, as defined in Article IX, the oral instructions of an authorized person, as defined in Article IX, setting forth the name and address of the person to whom payment is to be made, the amount to be paid, and the corporate purpose for which payment is to be made; or
(f) In payment of the fees and in reimbursement of the expenses and liabilities of the Custodian, as provided in Article VII hereof.
3. The Custodian shall notify the Fund promptly after the close of business on each day with a statement summarizing all transactions and entries for the account of the Fund during said day; and it shall, at least monthly and from time to time, render a detailed statement of the securities and moneys held for the Fund under this Agreement. The Custodian shall send the Fund confirmation of any purchase or sale of securities and by book entry or otherwise identify as belonging to the Fund a quantity of securities in a fungible bulk of securities registered in the name of the Custodian (or its nominee) or shown on the Custodian's account on the books of the depository or the Book-Entry System.
4. All securities held for the Fund, which are issued or issuable only in bearer form, except such securities as are held in the Book-Entry System, shall be held by the Custodian in that form; all other securities held for the Fund may be registered in the name of the Fund, in the name of any duly appointed registered nominee of the Custodian, as the Custodian may from time to time determine, or in the name of the Book-Entry System or the depository or their successor or successors, or their nominee or nominees. The Fund agrees to furnish to the Custodian appropriate instruments to enable the Custodian to hold or deliver in proper form for transfer, or to register in the name of its registered nominee or in the name of the Book-Entry System or the depository any securities which it may hold for the account of the Fund and which may from time to time be registered in the name of the Fund. The Custodian shall hold all such securities which are not held in the Book-Entry System or in the depository in a separate account in the name of the Fund physically segregated at all times from those of any other person or persons. The Fund hereby acknowledges its right to receive written confirmation of each transaction, but waives that right upon receiving monthly statements of activity as agreed upon.
5. Unless otherwise instructed to the contrary by a certificate signed in the name of the Fund by any two officers, the Custodian by itself, or through the use of the Book-Entry System or the depository with respect to securities therein deposited, shall with respect to all securities held for the Fund in accordance with this Agreement:
(a) Collect all income due or payable per usual and customary practices;
(b) Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed, or retired, or otherwise become payable;
(c) Surrender securities in temporary form for definitive securities;
(d) Execute, as Custodian, any necessary declarations or certificates of ownership under the Federal Income Tax Laws or the laws or regulations of any other taxing authority now or hereafter in effect;
(e) Hold directly, or through the Book-Entry System or the depository with respect to securities therein deposited, for the account of the Fund all stock dividends, rights and similar securities issued with respect to any securities held by the Custodian hereunder.
6. Upon receipt of a certificate signed in the name of the Fund by any two officers as defined in Article IX, and not otherwise, the Custodian shall:
(a) Execute and deliver to such persons as may be designated in such certificate, proxies, consents, authorizations, and any other instruments whereby the authority of the Fund as owner of any securities may be exercised;
(b) Deliver any securities held for the Fund in exchange for other securities or cash issued or paid in connection with the liquidation, reorganization, refinancing, merger, consolidation or recapitalization of any corporation, or the exercise of any conversion privilege;
(c) Deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement, such certificates of deposit, interim receipts or other instruments or documents as may be issued to it to evidence such delivery;
(d) Make such transfers or exchanges of the assets of the Fund, and take such other steps, as shall be stated in said certificate to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation or recapitalization of the Fund.
7. Notwithstanding anything elsewhere contained herein to the contrary, the Fund hereby authorizes the Custodian for the term of this Agreement, if it so desires, to maintain in its account(s) with MSTC in a manner consistent and in accordance with the Investment Company Act of 1940 and any rules and regulations thereunder, securities, if any, as may from time to time be held for the Fund and are subject to covered call options issued or written by the Fund.
Appears in 1 contract
Samples: Custodian Agreement (Iaa Trust Asset Allocation Fund Inc)
Custody of Cash and Securities. 1. The Fund will deliver or cause to be delivered to the Custodian all securities and all moneys owned by it, including cash received for the issuance of its shares, at any time during the period of this Agreement. The Custodian will not be responsible for such securities and such moneys until actually received by it. The Fund shall instruct the Custodian from time to time in its sole discretion, by means of a certificate signed in the name of the Fund by two officers in accordance with the provisions of Article IX, or in connection with the purchase or sale of money market securities, by means of the oral instructions of an authorized person, as to the manner in which and in what amounts such securities and moneys are to be deposited on behalf of the Fund in the Book-Entry System or the depository, as each term is defined in Article IX; provided, however, that prior to the deposit of securities of the Fund in either the Book-Entry System or the depository, including a deposit in connection with the settlement of a purchase or sale, or a delivery of loan collateral, the Custodian shall have received a certified resolution of the Fund's Board of Directors specifically approving such deposits by the Custodian on behalf of the Fund in the Book-Entry System or the depository as the case may be. Securities and moneys of the Fund deposited in either the Book-Entry System or the depository, as the case may be, will be represented in accounts which include only assets held by the Custodian for its customers, in fiduciary or representative capacity.
2. The Custodian shall credit to a separate account in the name of the Fund all moneys received by it for the account of the Fund, and shall disburse the same only:
(a) In payment for securities purchased, as provided in Article III hereof;; or
(b) In payment of dividends or distributions as provided in Article IV hereof; or
(c) In payment of original issue or other taxes, as provided in Article V hereof; or
(d) In payment for capital stock of the Fund redeemed by it, as provided in Article V hereof; or,
(e) Pursuant to certificates, notices or written instructions of the Fund, signed in its name by any two officers (as defined in Article IX) or, with respect to money market securities, as defined in Article IX, the oral instructions of an authorized person, as defined in Article IX, setting forth the name and address of the person to whom payment is to be made, the amount to be paid, and the corporate purpose for which payment is to be made; or
(f) In payment of the fees and in reimbursement of the expenses and liabilities of the Custodian, as provided in Article VII hereof.
3. The Custodian shall notify the Fund promptly after the close of business on each day with a statement summarizing all transactions and entries for the account of the Fund during said day; and it shall, at least monthly and from time to time, render a detailed statement of the securities and moneys held for the Fund under this Agreement. The Custodian shall send the Fund confirmation of any purchase or sale of securities and by book entry or otherwise identify as belonging to the Fund a quantity of securities in a fungible bulk of securities registered in the name of the Custodian (or its nominee) or shown on the Custodian's account on the books of the depository or the Book-Entry System.
4. All securities held for the Fund, which are issued or issuable only in bearer form, except such securities as are held in the Book-Entry System, shall be held by the Custodian in that form; all other securities held for the Fund may be registered in the name of the Fund, in the name of any duly appointed registered nominee of the Custodian, as the Custodian may from time to time determine, or in the name of the Book-Entry System or the depository or their successor or successors, or their nominee or nominees. The Fund agrees to furnish to the Custodian appropriate instruments to enable the Custodian to hold or deliver in proper form for transfer, or to register in the name of its registered nominee or in the name of the Book-Entry System or the depository any securities which it may hold for the account of the Fund and which may from time to time be registered in the name of the Fund. The Custodian shall hold all such securities which are not held in the Book-Entry System or in the depository in a separate account in the name of the Fund physically segregated at all times from those of any other person or persons. The Fund hereby acknowledges its right to receive written confirmation of each transaction, but waives that right upon receiving monthly statements of activity as agreed upon.
5. Unless otherwise instructed to the contrary by a certificate signed in the name of the Fund by any two officers, the Custodian by itself, or through the use of the Book-Entry System or the depository with respect to securities therein deposited, shall with respect to all securities held for the Fund in accordance with this Agreement:
(a) Collect all income due or payable per usual and customary practices;
(b) Present for payment and collect the amount payable upon all securities which may mature or be called, redeemed, or retired, or otherwise become payable;
(c) Surrender securities in temporary form for definitive securities;
(d) Execute, as Custodian, any necessary declarations or certificates of ownership under the Federal Income Tax Laws or the laws or regulations of any other taxing authority now or hereafter in effect;
(e) Hold directly, or through the Book-Entry System or the depository with respect to securities therein deposited, for the account of the Fund all stock dividends, rights and similar securities issued with respect to any securities held by the Custodian hereunder.
6. Upon receipt of a certificate signed in the name of the Fund by any two officers as defined in Article IX, and not otherwise, the Custodian shall:
(a) Execute and deliver to such persons as may be designated in such certificate, proxies, consents, authorizations, and any other instruments whereby the authority of the Fund as owner of any securities may be exercised;
(b) Deliver any securities held for the Fund in exchange for other securities or cash issued or paid in connection with the liquidation, reorganization, refinancing, merger, consolidation or recapitalization of any corporation, or the exercise of any conversion privilege;
(c) Deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement, such certificates of deposit, interim receipts or other instruments or documents as may be issued to it to evidence such delivery;
(d) Make such transfers or exchanges of the assets of the Fund, and take such other steps, as shall be stated in said certificate to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation or recapitalization of the Fund.
7. Notwithstanding anything elsewhere contained herein to the contrary, the Fund hereby authorizes the Custodian for the term of this Agreement, if it so desires, to maintain in its account(s) with MSTC in a manner consistent and in accordance with the Investment Company Act of 1940 and any rules and regulations thereunder, securities, if any, as may from time to time be held for the Fund and are subject to covered call options issued or written by the Fund.
Appears in 1 contract
Samples: Custodian Agreement (Iaa Trust Money Market Fund Inc)
