Common use of Customer Accounts Clause in Contracts

Customer Accounts. The Bank agrees to establish and maintain the following accounts ("Accounts"): Separate custody accounts for each Series in the name of the Customer on behalf of each such Series as listed in Schedule B1 for any and all stocks, shares, bonds, debentures, notes, mortgages or other obligations for the payment of money, bullion, coin and any certificates, receipts, warrants or other instruments representing rights to receive, purchase or subscribe to the same or evidencing or representing any other rights or interests therein and other similar property whether certificated or uncertificated as may be received by the Bank or its Subcustodian (as defined in Sub-section 3 of this Section I.) for the account of the Customer on behalf of a Series ("Securities") and any and all cash equivalents. Prior to the delivery of any Assets (as defined hereinafter) by the Customer to the Bank, the Customer shall deliver to the Bank each applicable document or other item listed in Schedule B2, which schedule may be amended from time to time by the Customer and the Bank. The Customer warrants its authority to: 1) deposit the cash and Securities ("Assets") received in the Accounts and 2) give Instructions (as defined in Sub-section 11 of this Section I.) concerning the Accounts. Such Instructions shall specifically indicate to which Series such Assets belong or, if such Assets belong to more than one Series, shall allocate such Assets to the appropriate Series. The Bank may deliver securities of the same type and class in place of those deposited in the Accounts. Upon receipt of Instructions and appropriate documentation, the Bank shall establish additional Accounts, which shall be separately accounted for as additional Accounts under the terms of this Agreement. The procedures the Bank and the Customer will use in performing activities in connection with this Agreement are set forth in a client services guide provided to the Customer by the Bank, as such guide may be amended from time to time by the Bank (the "Client Services Guide") with the consent of the Customer; provided, however, that any customer enhancement or amendments deemed -------- ------- necessary by the Bank in order to comply with existing or new rules, regulations or market practices, in any jurisdiction, may be made by the Custodian without the consent of the Customer. Any Customer specific procedures which are included in the Client Services Guide must be agreed to or changed in writing by both parties and such Customer specific procedures shall be deemed to be a part of this Agreement.

Customer Accounts. The Bank agrees to establish and maintain the following accounts ("Accounts"): Separate custody accounts for each Series in the name of the Customer on behalf of each such Series as listed in Schedule B1 for any and all stocks, shares, bonds, debentures, notes, mortgages or other obligations for the payment of money, bullion, coin and any certificates, receipts, warrants or other instruments representing rights to receive, purchase or subscribe to the same or evidencing or representing any other rights or interests therein and other similar property whether certificated or uncertificated as may be received by the Bank or its Subcustodian (as defined in Sub-section 3 of this Section I.) for the account of the Customer on behalf of a Series ("Securities") and any and all cash equivalents. Prior to the delivery of any Assets (as defined hereinafter) by the Customer to the Bank, the Customer shall deliver to the Bank each applicable document or other item listed in Schedule B2, which schedule may be amended from time to time by the Customer and the Bank. The Customer warrants its authority to: 1) deposit the cash and Securities ("Assets") received in the Accounts and 2) give Instructions (as defined in Sub-Sub- section 11 of this Section I.) concerning the Accounts. Such Instructions shall specifically indicate to which Series such Assets belong or, if such Assets belong to more than one Series, shall allocate such Assets to the appropriate Series. The Bank may deliver securities of the same type and class in place of those deposited in the Accounts. Upon receipt of Instructions and appropriate documentation, the Bank shall establish additional Accounts, which shall be separately accounted for as additional Accounts under the terms of this Agreement. The procedures the Bank and the Customer will use in performing activities in connection with this Agreement are set forth in a client services guide provided to the Customer by the Bank, as such guide may be amended from time to time by the Bank (the "Client Services Guide") with the consent of the Customer; provided, however, that any customer enhancement or amendments deemed -------- ------- necessary by the Bank in order to comply with existing or new rules, regulations or market practices, in any jurisdiction, may be made by the Custodian without the consent of the Customer. Any Customer specific procedures which are included in the Client Services Guide must be agreed to or changed in writing by both parties and such Customer specific procedures shall be deemed to be a part of this Agreement.

Customer Accounts. The Bank agrees to establish and maintain the following accounts ("Accounts"): Separate custody accounts for each Series in the name of the Customer on behalf of each such Series as listed in Schedule B1 for any and all stocks, shares, bonds, debentures, notes, mortgages or other obligations for the payment of money, bullion, coin and any certificates, receipts, warrants or other instruments representing rights to receive, purchase or subscribe to the same or evidencing or representing any other rights or interests therein and other similar property whether certificated or uncertificated as may be received by the Bank or its Subcustodian (as defined in Sub-section 3 of this Section I.) for the account of the Customer on behalf of a Series ("Securities") and any and all cash equivalents. Prior to the delivery of any Assets (as defined hereinafter) by the Customer to the Bank, the Customer shall deliver to the Bank each applicable document or other item listed in Schedule B2, which schedule may be amended from time to time by the Customer and the Bank. The Customer warrants its authority to: 1) deposit the cash and Securities ("Assets") received in the Accounts and 2) give Instructions (as defined in Sub-section 11 of this Section I.) concerning the Accounts. Such Instructions shall specifically indicate to which Series such Assets belong or, if such Assets belong to more than one Series, shall allocate such Assets to the appropriate Series. The Bank may deliver securities of the same type and class in place of those deposited in the Accounts. Upon receipt of Instructions and appropriate documentation, the Bank shall establish additional Accounts, which shall be separately accounted for as additional Accounts under the terms of this Agreement. The procedures the Bank and the Customer will use in performing activities in connection with this Agreement are set forth in a client services guide provided to the Customer by the Bank, as such guide may be amended from time to time by the Bank (the "Client Services Guide") with the consent of the Customer; provided, however, that any customer enhancement or amendments deemed -------- ------- necessary by the Bank in order to comply with existing or new rules, regulations or market practices, in any jurisdiction, may be made by the Custodian without the consent of the Customer. Any Customer specific procedures which are included in the Client Services Guide must be agreed to or changed in writing by both parties and such Customer specific procedures shall be deemed to be a part of this Agreement.

Customer Accounts. The Bank agrees to establish and maintain the following accounts ("Accounts"): Separate custody accounts for each Series in the name of the Customer on behalf of each such Series as listed in Schedule B1 Bl for any and all stocks, shares, bonds, debentures, notes, mortgages or other obligations for the payment of money, bullion, coin and any certificates, receipts, warrants or other instruments representing rights to receive, purchase or subscribe to the same or evidencing or representing any other rights or interests therein and other similar property whether certificated or uncertificated as may be received by the Bank or its Subcustodian (as defined in Sub-section 3 of this Section I.) for the account of the Customer on behalf of a Series ("`Securities") and any and all cash equivalents. Prior to the delivery of any Assets (as defined hereinafter) by the Customer to the Bank, the Customer shall deliver to the Bank each applicable document or other item listed in Schedule B2, which schedule may be amended from time to time by the Customer and the Bank. The Customer warrants its authority to: 1) deposit the cash and Securities ("Assets") received in the Accounts and 2) give Instructions (as defined in Sub-Sub- section 11 of this Section I.) concerning the Accounts. Such Instructions shall specifically indicate to which Series such Assets belong or, if such Assets belong to more than one Series, shall allocate such Assets to the appropriate Series. The Bank may deliver securities of the same type and class in place of those deposited in the Accounts. Upon receipt of Instructions and appropriate documentation, the Bank shall establish additional Accounts, which shall be separately accounted for as additional Accounts under the terms of this Agreement. The procedures the Bank and the Customer will use in performing activities in connection with this Agreement are set forth in a client services guide provided to the Customer by the Bank, as such guide may be amended from time to time by the Bank (the "Client Services Guide") with the consent of the Customer; provided, however, that any customer enhancement or amendments deemed necessary -------- ------- necessary by the Bank in order to comply with existing or new rules, regulations or market practices, in any jurisdiction, may be made by the Custodian without the consent of the Customer. Any Customer specific procedures which are included in the Client Services Guide must be agreed to or changed in writing by both parties and such Customer specific procedures shall be deemed to be a part of this Agreement.

Customer Accounts. The Bank agrees to shall establish and maintain the following accounts ("Accounts"): Separate (a) A custody accounts for each Series account in the name of the Customer on behalf of each such Series as listed in Schedule B1 ("Custody Account") for any and all stocks, shares, bonds, debentures, notes, mortgages or other obligations for the payment of money, bullion, coin and any certificates, receipts, warrants or other instruments representing rights to receive, purchase or subscribe to for the same or evidencing or representing any other rights or interests therein and other similar property whether certificated or uncertificated as may be received by the Bank or its Subcustodian (as defined in Sub-section 3 of this Section I.3) for the account of the Customer on behalf of a Series ("Securities"); and (b) and A deposit account in the name of Customer ("Deposit Account") for any and all cash equivalents. Prior to in any currency received by Bank or its Subcustodian for the delivery account of any Assets (as defined hereinafter) by the Customer to the Bank, the Customer shall deliver to the Bank each applicable document or other item listed in Schedule B2Customer, which schedule may cash shall not be amended from time subject to time withdrawal by the Customer and the Bankdraft or check. The Customer warrants its authority to: 1) deposit the cash and Securities ("Assets") received in the Accounts and 2) give Instructions (as defined in Sub-section 11 of this Section I.11) concerning the Accounts. Such Instructions shall specifically indicate to which Series such Assets belong or, if such Assets belong to more than one Series, shall allocate such Assets to the appropriate Series. The Bank may deliver securities of the same type and class in place of those deposited in the AccountsCustody Account. Upon receipt of Instructions written agreement between Bank and appropriate documentationCustomer, the Bank shall establish additional Accounts, which shall Accounts may be established and separately accounted for as additional Accounts under the terms hereunder. 2. Maintenance of this Agreement. The procedures the Securities and Cash at Bank and Subcustodian Locations. Unless Instructions specifically require another location acceptable to Bank: (a) Securities shall be held in the Customer will use country or other jurisdiction in performing activities in connection with this Agreement which the principal trading market for such Securities is located, where such Securities are set forth to be presented for payment or where such Securities are acquired; and (b) Cash shall be credited to an account in a client services guide provided to the Customer by the Bank, as country or other jurisdiction in which such guide cash may be amended legally deposited or is the legal currency for the payment of public or private debts. Cash may be held pursuant to Instructions in either interest or non-interest bearing accounts as may be available for the particular currency. To the extent Instructions are issued and Bank can comply with such Instructions, Bank is authorized to maintain cash balances on deposit for Customer with itself or one of its "Affiliates" at such reasonable rates of interest as may from time to time be paid on such accounts, or in non-interest bearing accounts as Customer may direct, if acceptable to Bank. For purposes hereof, the term "Affiliate" shall mean an entity controlling, controlled by, or under common control with, Bank. If Customer wishes to have any of its Assets held in the custody of an institution other than the established Subcustodians as defined in Section 3 (or their securities depositories), such arrangement must be authorized by a written agreement, signed by Bank and Customer. 3. Subcustodians and Securities Depositories. Bank may act hereunder through the subcustodians listed in Schedule A hereof with which Bank has entered into subcustodial agreements ("Subcustodians"). Customer authorizes Bank to hold Assets in the "Client Services Guide") Accounts in accounts which Bank has established with the consent one or more of its branches or Subcustodians. Bank and Subcustodians are authorized to hold any of the Securities in their account with any securities depository in which they participate. Bank reserves the right to add new, replace or remove Subcustodians. Customer shall be given reasonable notice by Bank of any amendment to Schedule A. Upon request by Customer; provided, howeverBank shall identify the name, that address and principal place of business of any customer enhancement or amendments deemed -------- ------- necessary by Subcustodian of Customer's Assets and the Bank in order to comply with existing or new rules, regulations or market practices, in any jurisdiction, may be made by the Custodian without the consent name and address of the Customer. Any Customer specific procedures which are included in the Client Services Guide must be agreed to governmental agency or changed in writing by both parties and other regulatory authority that supervises or regulates such Customer specific procedures shall be deemed to be a part of this AgreementSubcustodian.

Customer Accounts. The Bank agrees to establish and maintain the following accounts ("Accounts"): Separate ): (a) One or more custody accounts for each Series in (singly, a "Custody Account" and collectively, the name of the Customer on behalf of each such Series as listed in Schedule B1 "Custody Accounts") for any and all stocks, shares, bonds, debentures, notes, mortgages or other obligations for the payment of money, bullion, coin and any certificates, receipts, warrants or other instruments representing rights to receive, purchase or subscribe to for the same or evidencing or representing any other rights or interests therein and other similar property whether certificated or uncertificated as may be received by the Bank or its Subcustodian (as defined in Sub-section 3 of this Section I.3) for the account of the Customer on behalf of a Series Customer's portfolios ("Securities"); and (b) One or more deposit accounts (singly, a "Deposit Account" and collectively, the "Deposit Accounts") for any and all cash equivalents. Prior to the delivery of in any Assets (as defined hereinafter) currency received by the Customer Bank or its Subcustodian for the account of the Customer's portfolios which cash shall not be subject to the Bank, the Customer shall deliver to the Bank each applicable document withdrawal by draft or other item listed in Schedule B2, which schedule may be amended from time to time by the Customer and the Bankcheck. The Customer warrants its authority to: 1) deposit the cash and Securities ("Assets") received in the Accounts and 2) give Instructions (as defined in Sub-section 11 of this Section I.11) concerning the Accounts. Such Instructions shall specifically indicate to which Series such Assets belong or, if such Assets belong to more than one Series, shall allocate such Assets to the appropriate Series. The Bank may deliver securities of the same type and class in place of those deposited in the Accounts. Upon receipt of Instructions and appropriate documentation, written agreement between the Bank shall establish and the Customer, additional Accounts, which shall Accounts may be established and separately accounted for as additional Accounts under the terms of this Agreement. (c) The Bank shall, upon receipt of Instructions, establish and maintain a segregated account or accounts on its records for and on behalf of the Customer, into which account or accounts may be transferred cash and/or securities, including securities in the Book-Entry System (defined in Section 3A below) (i) for the purposes of compliance by the Customer with the procedures required by a securities or options exchange, and (ii) for other proper corporate purposes, but only, in the case of clause (ii), upon receipt of Instructions in writing. (d) The Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Customer uses (each an "FCM Procedural Agreement"), pursuant to which the Customer's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by the Bank in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts in accordance with the customer contract between FCM and the Fund, SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. The procedures Such FCM Procedural Agreements shall only be entered into upon receipt of Instructions from the Customer which state that (i) a customer agreement between the FCM and the Customer has been entered into; and (ii) the Customer is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into an FCM Account only upon Instructions in writing; transfers of premium and variation margin may be made into an FCM Account pursuant to oral Instructions. Transfers of funds from an FCM Account to the FCM for which the Bank holds such an account may only occur upon certification by the FCM to the Bank that pursuant to the FCM Procedural Agreement and the contract between the Bank and the Customer will use in performing activities in connection with this Agreement are set forth in a client services guide provided FCM, all conditions precedent to the Customer by the Bank, as such guide may be amended from time its right to time by give the Bank (the "Client Services Guide") with the consent of the Customer; provided, however, that any customer enhancement or amendments deemed -------- ------- necessary by the Bank in order to comply with existing or new rules, regulations or market practices, in any jurisdiction, may be made by the Custodian without the consent of the Customer. Any Customer specific procedures which are included in the Client Services Guide must be agreed to or changed in writing by both parties and such Customer specific procedures shall be deemed to be a part of this Agreementinstructions have been satisfied.

Customer Accounts. The Bank agrees to establish and maintain the following accounts ("Accounts"): Separate ): (a) One or more custody accounts for each Series in (singly, a "Custody Account" and collectively, the name of the Customer on behalf of each such Series as listed in Schedule B1 "Custody Accounts") for any and all stocks, shares, bonds, debentures, notes, mortgages or other obligations for the payment of money, bullion, coin and any certificates, receipts, warrants or other instruments representing rights to receive, purchase or subscribe to for the same or evidencing or representing any other rights or interests therein and other similar property whether certificated or uncertificated as may be received by the Bank or its Subcustodian (as defined in Sub-section 3 of this Section I.3) for the account of the Customer on behalf of a Series Customer's portfolios ("Securities"); and (b) One or more deposit accounts (singly, a "Deposit Account" and collectively, the "Deposit Accounts") for any and all cash equivalents. Prior to the delivery of in any Assets (as defined hereinafter) currency received by the Customer to Bank or its Subcustodian for the Bank, account of the Customer shall deliver to the Bank each applicable document or other item listed in Schedule B2Customer's portfolios, which schedule may cash shall not be amended from time subject to time withdrawal by the Customer and the Bankdraft or check. The Customer warrants its authority to: 1) deposit the cash and Securities securities ("Assets") received in the Accounts and 2) give Instructions (as defined in Sub-section 11 of this Section I.11) concerning the Accounts. Such Instructions shall specifically indicate to which Series such Assets belong or, if such Assets belong to more than one Series, shall allocate such Assets to the appropriate Series. The Bank may deliver securities of the same type and class in place of those deposited in the Accounts. Upon receipt of Instructions and appropriate documentation, written agreement between the Bank shall establish and the Customer, additional Accounts, which shall Accounts may be established and separately accounted for as additional Accounts under the terms of this Agreement. (c) The Bank shall, upon receipt of Instructions, establish and maintain a segregated account or accounts on its records for and on behalf of the Customer, into which account or accounts may be transferred cash and/or securities, including securities in the Book-Entry System (defined in Section 3A below) (i) for the purposes of compliance by the Customer with the procedures required by a securities or options exchange, and (ii) for other proper corporate purposes, but only, in the case of clause (ii), upon receipt of Instructions in writing. (d) The Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Customer uses (each an "FCM Procedural Agreement"), pursuant to which the Customer's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by the Bank in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts in accordance with the customer contract between FCM and the Fund, SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. The procedures Such FCM Procedural Agreements shall only be entered into upon receipt of Instructions from the Customer which state that (i) a customer agreement between the FCM and the Customer has been entered into; and (ii) the Customer is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into an FCM Account only upon Instructions in writing; transfers of premium and variation margin may be made into an FCM Account pursuant to oral Instructions. Transfers of funds from an FCM Account to the FCM for which the Bank holds such an account may only occur upon certification by the FCM to the Bank that pursuant to the FCM Procedural Agreement and the contract between the Bank and the Customer will use in performing activities in connection with this Agreement are set forth in a client services guide provided FCM, all conditions precedent to the Customer by the Bank, as such guide may be amended from time its right to time by give the Bank (the "Client Services Guide") with the consent of the Customer; provided, however, that any customer enhancement or amendments deemed -------- ------- necessary by the Bank in order to comply with existing or new rules, regulations or market practices, in any jurisdiction, may be made by the Custodian without the consent of the Customer. Any Customer specific procedures which are included in the Client Services Guide must be agreed to or changed in writing by both parties and such Customer specific procedures shall be deemed to be a part of this Agreementinstructions have been satisfied.

Customer Accounts. The Bank agrees to establish and maintain the following accounts ("Accounts"): Separate custody accounts for each Series in the name of the Customer on behalf of each such Series as listed in Schedule B1 Bl for any and all stocks, shares, bonds, debentures, notes, mortgages or other obligations for the payment of money, bullion, coin and any certificates, receipts, warrants or other instruments representing rights to receive, purchase or subscribe to the same or evidencing or representing any other rights or interests therein and other similar property whether certificated or uncertificated as may be received by the Bank or its Subcustodian (as defined in Sub-section 3 of this Section I.) for the account of the Customer on behalf of a Series ("Securities") and any and all cash equivalents. Prior to the delivery of any Assets (as defined hereinafter) by the Customer to the Bank, the Customer shall deliver to the Bank each applicable document or other item listed in Schedule B2, which schedule may be amended from time to time by the Customer and the Bank. The Customer warrants its authority to: 1) deposit the cash and Securities ("Assets") received in the Accounts and 2) give Instructions (as defined in Sub-Sub- section 11 of this Section I.) concerning the Accounts. Such Instructions shall specifically indicate to which Series such Assets belong or, if such Assets belong to more than one Series, shall allocate such Assets to the appropriate Series. The Bank may deliver securities of the same type and class in place of those deposited in the Accounts. Upon receipt of Instructions and appropriate documentation, the Bank shall establish additional Accounts, which shall be separately accounted for as additional Accounts under the terms of this Agreement. The procedures the Bank and the Customer will use in performing activities in connection with this Agreement are set forth in a client services guide provided to the Customer by the Bank, as such guide may be amended from time to time by the Bank (the "Client Services Guide") with the consent of the Customer; provided, however, that any customer enhancement or amendments deemed -------- ------- necessary by the Bank in order to comply with existing or new rules, regulations or market practices, in any jurisdiction, may be made by the Custodian without the consent of the Customer. Any Customer specific procedures which are included in the Client Services Guide must be agreed to or changed in writing by both parties and such Customer specific procedures shall be deemed to be a part of this Agreement.