Common use of Customary Practices Clause in Contracts

Customary Practices. Notwithstanding anything to the contrary in this Agreement, the Custodian is authorized to settle transactions in accordance with trading and processing practices customary in the jurisdiction or market where the transaction occurs. The Trust acknowledges that this may, in certain circumstances, require the delivery of cash or Securities (or other property) without the concurrent receipt of Securities (or other property) or cash and, in such circumstances, the Trust shall have responsibility for nondelivery of Securities or other property (or late delivery) or nonreceipt of payments of monies (or late payment) by the counterparty.

Customary Practices. Notwithstanding anything to the contrary in ------------------- this Agreement, the Custodian is authorized to settle transactions in accordance with trading and processing practices customary in the jurisdiction or market where the transaction occurs. The Trust Each Fund acknowledges that this may, in certain circumstances, require the delivery of cash or Securities (or other property) without the concurrent receipt of Securities (or other property) or cash and, in such circumstances, the Trust Fund shall have responsibility for nondelivery of Securities or other property (or late delivery) or nonreceipt of payments of monies (or late payment) by the counterparty.