Common use of DELIVERIES AND RECEIPTS Clause in Contracts

DELIVERIES AND RECEIPTS. In accordance with Instructions, Custodian shall deliver specified Account Securities (including cash in the Custodian Account) to the Person designated in such Instructions and shall receive in exchange therefor the Securities and/or cash and/or other property specified therein. Account Securities may be delivered "free" if the Instructions so specify and the Instructions are authorized by two, separate, Authorized Persons. If cash is to be delivered by Custodian, the Custodian Account shall be charged by Custodian on the actual settlement date. Receipts of cash by Custodian shall be effected in accordance with paragraph 5(c). Custodian shall exercise customary care and diligence in examining and verifying the certificates or other indicia of ownership of the securities or other property received before accepting or paying for same. If Instructions direct Custodian to deliver certificates or other physical evidence of ownership of Account Securities to any Person other than a Depository, Custodian's sole responsibility shall be to exercise customary care and diligence in effecting the delivery as instructed and collecting payment therefor. Notwithstanding the foregoing, if the delivery and/or receipt is effected through the facilities of a Depository, Custodian's responsibilities shall be limited to using customary care and diligence in verifying proper consummation of the transaction by the Depository. Upon completion of a delivery, Custodian shall be discharged completely of any liability or responsibility from claims with respect to the safekeeping and custody of Account Securities which may occur at a time subsequent to the period in which Custodian had control over the Account Securities. Nothing herein shall relieve the Custodian of responsibility for any act or omission to act of Custodian which occurred prior to the completion of such a delivery.

DELIVERIES AND RECEIPTS. In accordance with Instructions, Custodian shall deliver specified Account Securities (including cash in the Custodian Account) to the Person designated in such Instructions and shall receive in exchange therefor the Securities and/or cash and/or other property specified therein. Account Securities may be delivered "free" if the Instructions so specify and the Instructions are authorized by two, separate, Authorized Personsspecify. If cash is to be delivered by Custodian, the Custodian Account shall be charged by Custodian on the actual settlement date. Receipts of cash by Custodian shall be effected in accordance with paragraph 5(c). Custodian shall exercise customary reasonable care and diligence in examining and verifying the certificates or other indicia of ownership of the securities or other property received before accepting or paying for same. If Instructions direct Custodian to deliver certificates or other physical evidence of ownership of Account Securities to any Person other than a Depository, Custodian's sole responsibility shall be to exercise customary care and diligence in effecting the delivery as instructed and collecting payment thereforinstructed. Notwithstanding the foregoing, if the delivery and/or receipt is effected through the facilities of a Depository, Custodian's responsibilities shall be limited to using customary reasonable care and diligence in verifying proper consummation of the transaction by the Depository. Upon completion of a deliverydelivery in accordance with Instructions to any Person other than a Depository, agent or Sub-Custodian, Custodian shall be discharged completely of any further liability or responsibility from claims with respect to the safekeeping and custody of Account Securities which may occur at a time subsequent to the period in which Custodian had control over the Account Securities. Nothing herein shall relieve the Custodian of responsibility for any act or omission to act of Custodian which occurred prior to the completion of such a deliveryso delivered.