Common use of Delivery of Assets to Third Parties Clause in Contracts

Delivery of Assets to Third Parties. 1. Custodian will receive delivery and keep safely the Assets delivered to it from time to time segregated in a separate account or accounts (each an "Account"). Custodian will not deliver, assign, pledge or hypothecate any such Assets to any person except as permitted by the provisions of this Agreement or any agreement executed by it according to the terms of Section II.U hereof. 2. Custodian is responsible for the Assets only until they have been transmitted to and received by other persons as permitted under the terms of this Agreement, except Custodian remains responsible for all Assets held by a sub-custodian employed pursuant to Section II.U, a nominee, correspondent, depository or the Federal Reserve Book-Entry system, or other agent, all of which entities shall be deemed agents of Custodian. 3. Notwithstanding any other provision of the Agreement, Custodian, subject to approval and annual review of the arrangement by the Board of Trustees of the Fund (the "Board"), is hereby authorized to deposit or arrange for the deposit of Assets eligible for book entry deposit in Federal Reserve Banks under book entry to the extent acceptable under applicable regulations of the Department of the Treasury of the United States and the Federal Reserve Bank involved, which shall be considered an agent of Custodian and which shall at all times show such Assets as part of the Account of the applicable Portfolio. 4. Notwithstanding any other provision of this Agreement, Custodian, subject to approval and annual review of the arrangement by the Board, is authorized in its capacity as Custodian and agent for Fund to use the facilities and services of the Depository Trust Company, or any regional system for the central handling of securities with which securities may be deposited under the provisions of section 17(f) of the 1940 Act, which shall be considered an agent of Custodian for such purpose.

Delivery of Assets to Third Parties. 1. Custodian will receive delivery of and keep safely the Assets assets of Fund delivered to it from time to time segregated in a separate account or accounts (each an "Account")account. Custodian will not deliver, assign, pledge or hypothecate any such Assets assets to any person except as permitted by the provisions of this Agreement or any agreement executed by it according to the terms of Section II.U hereof. 22.0 of this Agreement. Upon delivery of any such assets to a subcustodian pursuant to Section 2.0 of this Agreement, Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to Fund. The Custodian is responsible for the Assets securities and monies of Fund only until they have been transmitted to and received by other persons as permitted under the terms of this Agreement, except for securities and monies transmitted to any subcustodians appointed by the Custodian remains responsible for all Assets held by a sub-custodian employed pursuant to Section II.U2.0, a nomineefor which Custodian remains responsible. With respect to subcustodians appointed at Fund’s request, correspondent, depository or the Federal Reserve Book-Entry system, or other agent, all of which entities Custodian shall be deemed agents of Custodian. 3. Notwithstanding any other provision of the Agreement, Custodian, subject responsible to approval Fund for securities and annual review of the arrangement by the Board of Trustees of the Fund (the "Board"), is hereby authorized cash transmitted to deposit or arrange for the deposit of Assets eligible for book entry deposit in Federal Reserve Banks under book entry such subcustodian to the same extent acceptable under applicable regulations of the Department of the Treasury of the United States and the Federal Reserve Bank involved, which shall be considered an agent of those entities are responsible to Custodian. Custodian and which shall at all times show such Assets as part of the Account of the applicable Portfolio. 4. Notwithstanding any other provision of this Agreement, Custodian, subject to approval and annual review of the arrangement by the Board, is authorized may participate directly or indirectly through a subcustodian in its capacity as Custodian and agent for Fund to use the facilities and services of the Depository Trust Company, Treasury/Federal Reserve Book Entry System, or Participant Trust Company (as such entities are defined in 17 CFR Section 270.17f-4 (b)) provided that (i) the securities of the Fund held at such an entity shall not include any regional system assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers; (ii) the records of the Custodian with respect to securities of the Fund which are maintained in such an entity shall identify by book-entry those securities belonging to the Fund; (iii) the Custodian shall pay for securities purchased for the central handling account of the Fund upon (a) receipt of advice from such entity that the Fund’s securities have been transferred to the Custodian’s account, and (b) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund; (iv) the Custodian shall transfer securities sold for the account of the Fund upon (a) receipt of advice from such entity that payment for the Fund’s securities has been transferred to the Custodian’s account, and (b) the making of any entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund; (v) copies of all advices from such entity(ies) of transfers of securities with which securities may be deposited under for the provisions of section 17(f) account of the 1940 Act, which Fund shall be considered an agent maintained for the Fund by the Custodian and the Custodian shall furnish the Fund with confirmation of each transfer to or from the account of the Fund; (vi) upon request the Custodian shall provide the Fund with any report obtained by the Custodian on the entity(ies) accounting system, internal accounting control and procedures for safeguarding securities deposited with such purposeentity.

Delivery of Assets to Third Parties. 1. Custodian IFTC will receive accept delivery of and keep safely the Assets delivered to it of each Portfolio segregated at all times from time to time segregated in a separate account those of any other person, firm or accounts (each an "Account")corporation and held by IFTC with commercially reasonable precautions for safekeeping. Custodian IFTC will not deliver, assign, pledge or hypothecate any such Assets to any person except as permitted by the provisions of this Agreement Section 3.C or any agreement executed by it according to the terms of Section II.U 3.Q hereof. 2. Custodian Upon delivery of any such Assets to a subcustodian appointed pursuant to Section 3.Q (hereinafter referred to as "Subcustodian"), IFTC will create and maintain records identifying such Assets as belonging to the applicable Portfolio. IFTC is responsible for the safekeeping of the Assets only until they have been transmitted to and received by other persons as permitted under the terms of this Agreement, except Custodian for Assets transmitted to Subcustodians, for which IFTC remains responsible for all Assets to the extent provided in Section 3.Q. IFTC may participate directly or indirectly through a Subcustodian in the Depository Trust Company (DTC), Treasury/Federal Reserve Book Entry System (Fed System), Participant Trust Company (PTC) or other depository approved by Fund (as such entities are defined at 17 CFR Section 270.17f-4(b)) (each a "Depository" and collectively the "Depositories"); provided, however, that such securities are maintained in an account of IFTC or such Subcustodian in Depositaries which shall not include any assets of IFTC or such Subcustodian or any other person other than assets held by IFTC or such Subcustodian as a sub-custodian employed pursuant to Section II.Ufiduciary, a nominee, correspondent, depository or the Federal Reserve Book-Entry systemcustodian, or other agent, all otherwise for its customers. The records of which entities shall be deemed agents of Custodian. 3. Notwithstanding any other provision of the Agreement, Custodian, subject IFTC with respect to approval and annual review of the arrangement by the Board of Trustees securities of the Fund (which are maintained in a Depository shall identify by book-entry those securities belonging to the "Board")Fund, is hereby authorized and IFTC shall be fully and completely responsible for maintaining a recordkeeping system capable of accurately and currently stating the Fund's holdings maintained in each such Depository. IFTC shall be liable to deposit the Fund for any loss or arrange for damage to the deposit Fund resulting from use of Assets eligible for book entry deposit in Federal Reserve Banks under book entry the Depositaries by reason of any negligence, misfeasance or misconduct of IFTC or any of its agents or Subcustodians or any of its or their employees or from any failure of IFTC or any such agent or Subcustodian to use reasonable efforts to enforce such rights as it may have against the Depositaries or any other person; at the election of the Fund, the Fund shall be entitled to be subrogated to the rights of IFTC with respect to any claim against the Depositaries or any other person which IFTC may have as a consequence of any such loss or damage if and to the extent acceptable under applicable regulations of that the Department of the Treasury of the United States and the Federal Reserve Bank involved, which shall be considered an agent of Custodian and which shall at all times show Fund has not been made whole for any such Assets as part of the Account of the applicable Portfolioloss or damage. 4. Notwithstanding any other provision of this Agreement, Custodian, subject to approval and annual review of the arrangement by the Board, is authorized in its capacity as Custodian and agent for Fund to use the facilities and services of the Depository Trust Company, or any regional system for the central handling of securities with which securities may be deposited under the provisions of section 17(f) of the 1940 Act, which shall be considered an agent of Custodian for such purpose.

Delivery of Assets to Third Parties. 1. Custodian will receive delivery and keep safely the Assets assets of the Series delivered to it from time to time segregated in a separate account or accounts (each an "Account")accounts. Custodian will not deliver, assign, pledge or hypothecate any such Assets assets to any person except as permitted by the provisions of this Agreement or any agreement executed by it according to the terms of Section II.U hereofsection III.U. of this Agreement. 2. The Custodian is responsible for the Assets securities and monies of the Series only until they have been transmitted to and received by other persons as permitted under the terms of this Agreement, except the Custodian remains responsible for all Assets securities and monies held by a sub-sub- custodian employed pursuant to Section II.UIII.U.1. of this Agreement, a sub- custodian employed pursuant to Section III.U.2. (but only to the extent provided in Section IV of this Agreement), a nominee, correspondent, depository or the Federal Reserve Book-Entry system, or other agent, all of which entities shall be deemed agents of the Custodian. 3. Notwithstanding any other provision of the this Agreement, the Custodian, subject to approval and annual review of the arrangement by the Fund's Board of Trustees of the Fund (the "Board")Trustees, is hereby authorized to deposit or arrange for the deposit of Assets securities of the Fund eligible for book entry deposit in Federal Reserve Banks under book entry to the extent acceptable under applicable regulations of the Department of the Treasury of the United States and the Federal Reserve Bank involved, which shall be considered an agent of the Custodian for such purpose. The books and which records of the Custodian shall at all times show such Assets assets and monies as part of the Account account of the applicable PortfolioSeries of the Fund. 4. Notwithstanding any other provision of this Agreement, the Custodian, subject to approval and annual review of the arrangement by the BoardFund's Board of Trustees, is authorized in its capacity as Custodian and agent for the Fund to use the facilities and services of the Depository Trust Company, or any regional system for the central handling of securities with which securities may be deposited under the provisions of section 17(f) of the 1940 Act, which shall be considered an agent of the Custodian for such purpose.