Common use of DELIVERY OUT Clause in Contracts

DELIVERY OUT. The Custodian or a foreign sub-custodian shall release and deliver foreign securities or other financial assets held outside of the United States owned by a Fund and held by the Custodian or such foreign sub-custodian, or in a Foreign Securities System account, only upon receipt of Proper Instructions, specifying the foreign securities to be delivered and the person or persons to whom delivery is to be made. The Custodian shall pay out, or direct the respective foreign sub-custodian or the respective Foreign Securities System to pay out, cash of a Fund only upon receipt of Proper Instructions specifying the amount of the payment and the person or persons to payment is to be made.

DELIVERY OUT. The Custodian or a foreign sub-custodian an Eligible Foreign Custodian shall release and deliver foreign securities or other financial assets held outside of the United States owned by a Fund Portfolio and held by the Custodian or such foreign sub-custodianEligible Foreign Custodian, or in a Foreign Securities System account, only upon receipt of Proper Instructionsinstructions, specifying the foreign securities to be delivered and the person or persons to whom delivery is to be made. The Custodian shall pay out, or direct the respective foreign sub-custodian Eligible Foreign Custodian or the respective Foreign Securities System to pay out, cash of a Fund Portfolio only upon receipt of Proper Instructions specifying the amount of the payment and the person or persons to payment is to be made.

DELIVERY OUT. The Custodian or a foreign sub-custodian shall release and deliver foreign securities or other financial assets held outside of the United States owned by a the Fund and held by the Custodian or such foreign sub-custodian, or in a Foreign Securities System account, only upon receipt of Proper Instructions, specifying the foreign securities to be delivered and the person or persons to whom delivery is to be made. The Custodian shall pay out, or direct the respective foreign sub-custodian or the respective Foreign Securities System to pay out, cash of a the Fund only upon receipt of Proper Instructions specifying the amount of the payment and the person or persons to payment is to be made.