Common use of Delivery of the Property Clause in Contracts

Delivery of the Property. The Fund will deliver or arrange for delivery to PNC Bank, all the property owned by the Fund, including cash received as a result of the distribution of its Shares, during the period that is set forth in this Agreement. PNC Bank will not be responsible for such property until actual receipt. (b) Receipt and Disbursement of Money. PNC Bank, acting upon Written Instructions, shall open and maintain separate account(s) in the Fund's name using all cash received from or for the account of the Fund, subject to the terms of this Agreement. In addition, upon Written Instructions, PNC Bank shall open separate custodial accounts for each separate series, class or portfolio of the Fund and shall hold in such account(s) all cash received from or for the accounts of the Fund specifically designated to each separate series, class or portfolio. PNC Bank shall make cash payments from or for the account of the Fund only for: (i) purchases of securities in the name of the Fund or PNC Bank or PNC Bank's nominee as provided in sub-paragraph j and for which PNC Bank has received a copy of the broker's or dealer's confirmation or payee's invoice, as appropriate; (ii) purchase or redemption of Shares of the Fund delivered to PNC Bank; (iii) payment of, subject to Written Instructions, interest, taxes, administration, accounting, distribution, advisory, management fees or similar expenses which are to be borne by the Fund; (iv) payment to, subject to receipt of Written Instructions, the Fund's transfer agent, as agent for the shareholders, an amount equal to the amount of dividends and distributions stated in the Written Instructions to be distributed in cash by the transfer agent to shareholders, or, in lieu of paying the Fund's transfer agent, PNC Bank may arrange for the direct payment of cash dividends and distributions to shareholders in accordance with procedures mutually agreed upon from time to time by and among the Fund, PNC Bank and the Fund's transfer agent; (v) payments, upon receipt of Written Instructions, in connection with the conversion, exchange or surrender of securities owned or subscribed to by the Fund and held by or delivered to PNC Bank; (vi) payments of the amounts of dividends received with respect to securities sold short; payments made to a sub-custodian pursuant to provisions in sub-paragraph c of this Paragraph; and (viii) payments, upon Written Instructions made for other proper Fund purposes. PNC Bank is hereby authorized to endorse and collect all checks, drafts or other orders for the payment of money received as custodian for the account of the Fund. (c)

Delivery of the Property. The Fund will deliver or arrange for delivery to PNC Bank, all the property owned by the Fund, including cash received as a result of the distribution of its Shares, during the period that is set forth in this Agreement. PNC Bank will not be responsible for such property until actual receipt. (b) Receipt and Disbursement of Money. PNC Bank, acting upon Written Instructions, shall open and maintain separate account(s) in the Fund's name using all cash received from or for the account of the Fund, subject to the terms of this Agreement. In addition, upon Written Instructions, PNC Bank shall open separate custodial accounts for each separate series, class or portfolio of the Fund and shall hold in such account(s) all cash received from or for the accounts of the Fund specifically designated to each separate series, class or portfolio. PNC Bank shall make cash payments from or for the account of the Fund only for: (i) purchases of securities in the name of the Fund or PNC Bank or PNC Bank's nominee as provided in sub-paragraph j and for which PNC Bank has received a copy of the broker's or dealer's confirmation or payee's invoice, as appropriate; (ii) purchase or redemption of Shares of the Fund delivered to PNC Bank; (iii) payment of, subject to Written Instructions, interest, taxes, administration, accounting, distribution, advisory, management fees or similar expenses which are to be borne by the Fund; (iv) payment to, subject to receipt of Written Instructions, the Fund's transfer agent, as agent for the shareholders, an amount equal to the amount of dividends and distributions stated in the Written Instructions to be distributed in cash by the transfer agent to shareholders, or, in lieu of paying the Fund's transfer agent, PNC Bank may arrange for the direct payment of cash dividends and distributions to shareholders in accordance with procedures mutually agreed upon from time to time by and among the Fund, PNC Bank and the Fund's transfer agent; (v) payments, upon receipt of Written Instructions, in connection with the conversion, exchange or surrender of securities owned or subscribed to by the Fund and held by or delivered to PNC Bank; (vi) payments of the amounts of dividends received with respect to securities sold short; payments made to a sub-custodian pursuant to provisions in sub-sub- paragraph c of this Paragraph; and (viii) payments, upon Written Instructions made for other proper Fund purposes. PNC Bank is hereby authorized to endorse and collect all checks, drafts or other orders for the payment of money received as custodian for the account of the Fund. (c)