Common use of Delivery and Registration of the Property Clause in Contracts

Delivery and Registration of the Property. The Fund will deliver or ----------------------------------------- cause to be delivered to The Chase Manhattan Bank all securities and all moneys owned by it, including payments of interest, principal and capital distributions and cash received for the issuance of its Shares, at any time during the period of this Agreement, except for securities and monies to be delivered to any subcustodian appointed pursuant to Section 7 hereof. The Chase Manhattan Bank will not be responsible for such securities and such monies until actually received by it. All securities delivered to The Chase Manhattan Bank or to any such subcustodian (other than in bearer form) shall be registered in the name of the Fund or in the name of a nominee of the Fund or in the name of The Chase Manhattan Bank or any nominee of The Chase Manhattan Bank (with or without indication of fiduciary status) or in the name of any subcustodian or any nominee of such subcustodian appointed pursuant to Paragraph 7 hereof or shall be properly endorsed and in form for transfer satisfactory to The Chase Manhattan Bank.