Common use of Demand Deposit Bank Accounts Clause in Contracts

Demand Deposit Bank Accounts. To open and operate an account or accounts in the name of each Fund, subject only to draft or order by such Fund, and to hold in such account or accounts deposits accepted on the Custodian's books denominated in U.S. and foreign currency, received for the account of the Fund. The obligation of the Custodian for deposits accepted on the Custodian's books shall be as follows: (a) the Custodian's obligations for deposits accepted on its books and denominated in U.S. currency shall be that of a U.S. bank for a similar deposit and (b) the Custodian's obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's foreign currency deposit obligation to a Fund, the Custodian's obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructions, the Custodian may open and operate an additional account(s) in such other banks, trust companies or similar institutions as may be designated by a Fund in such instructions (any such bank, trust company or similar institution so designated by the Fund being referred to hereafter as a "Banking Institution"), and may hold in such account or accounts deposits of the Fund denominated in U.S. or foreign currency, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U.S. Dollars or other currencies as a Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, shall be deemed to be portfolio securities of a Fund and accordingly the responsibility of the Custodian therefor shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization by a Fund to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragraph with such Subcustodian.

Demand Deposit Bank Accounts. To open and operate an account or accounts in the name of each the Fund, subject only to draft or order by such Fundthe Custodian, and to hold in such account or accounts deposits as a deposit accepted on the Custodian's books denominated in U.S. and cash, including foreign currency, received for the account of the FundFund other than cash held as deposits with Banking Institutions in accordance with the following paragraph. The obligation responsibilities of the Custodian for deposits cash, including foreign currency, of the Fund accepted on the Custodian's books shall be as follows: (a) the Custodian's obligations for deposits accepted on its books and denominated in U.S. currency a deposit shall be that of a U.S. bank for a similar deposit and (b) the Custodian's obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. U. S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's foreign currency deposit obligation to a Fund, the Custodian's obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructions, the Custodian may open and operate an additional account(s) in such other banks, banks or trust companies or similar institutions as may be designated by a the Fund in such instructions (any such bank, bank or trust company or similar institution so designated by the Fund being referred to hereafter as a "Banking Institution"), and may hold deposit cash, including foreign currency, of the Fund in such account or accounts deposits of the Fund denominated in U.S. or foreign currencyaccounts, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U.S. U. S. Dollars or other currencies as a the Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, shall be deemed to be portfolio securities of a the Fund and accordingly the responsibility of the Custodian therefor shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization by a the Fund to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragraph with such Subcustodian.

Demand Deposit Bank Accounts. To open and operate maintain an account or ---------------------------- accounts in the name of each Fund, the Portfolio on the Custodian's books subject only to draft or order by such Fund, and to hold in such account or accounts deposits accepted on the Custodian's books denominated in U.S. and foreign currency, . All funds received by the Custodian from or for the account of the FundPortfolio shall be deposited in said account(s). The obligation responsibilities of the Custodian to the Portfolio for deposits accepted on the Custodian's books shall be as follows: (a) the Custodian's obligations for deposits accepted on its books and denominated in U.S. currency shall be that of a U.S. bank for a similar deposit and (b) the Custodian's obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's foreign currency deposit obligation to a Fund, the Custodian's obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructionsProper Instructions, the Custodian may open and operate an additional account(s) in such other banks, banks or trust companies or similar institutions as may be designated by a the Fund in such instructions (any such bank, bank or trust company or similar institution so designated by the Fund being referred to hereafter as a "Banking Institution"), and may hold in such account or accounts deposits of the Fund denominated in U.S. or foreign currency, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally Portfolio and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit bank accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U.S. Dollars or other currencies as a the Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, deposits shall be deemed to be portfolio securities of a Fund the Portfolio and accordingly the responsibility of the Custodian therefor shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization by a Fund to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragraph with such SubcustodianPortfolio.

Demand Deposit Bank Accounts. To open and operate an account or accounts in the name of each Fund, subject only to draft or order by such Fund, and to hold in such account or accounts deposits accepted on the Custodian's ’s books denominated in U.S. and foreign currency, received for the account of the Fund. The obligation of the Custodian for deposits accepted on the Custodian's ’s books shall be as follows: (a) the Custodian's ’s obligations for deposits accepted on the its books and denominated in U.S. currency shall be that of a U.S. bank for a similar deposit and (b) the Custodian's ’s obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's ’s foreign currency deposit obligation to a Fund, the Custodian's ’s obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's ’s foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructions, the Custodian may open and operate an additional account(s) in such other banks, trust companies or similar institutions as may be designated by a Fund in such instructions (any such bank, trust company or similar institution so designated by the Fund being referred to hereafter as a "“Banking Institution"”), and may hold in such account or accounts deposits of the Fund denominated in U.S. or foreign currency, provided that such account(s) (hereinafter collectively referred to as "“demand deposit bank accounts"”) shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's ’s customers generally and shall be subject only to the Custodian's ’s draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U.S. Dollars or other currencies as a Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, shall be deemed to be portfolio securities of a Fund and accordingly the responsibility of the Custodian therefor shall be the same as and no greater than the Custodian's ’s responsibility in respect of other portfolio securities of the Fund. The authorization by a Fund to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragraph with such Subcustodian.

Demand Deposit Bank Accounts. To open and operate an a separate account or accounts in the name of each Fund, the Fund on the Custodian's books subject only to draft or order by such Fund, and to hold in such account or accounts deposits accepted on the Custodian's books denominated in U.S. and foreign currency, . All funds received by the Custodian from or for the account of the FundFund shall be deposited in said account(s). The obligation responsibilities of the Custodian to the Fund for deposits accepted on the Custodian's books shall be as follows: (a) the Custodian's obligations for deposits accepted on its books and denominated in U.S. currency shall be that of a U.S. bank for a similar deposit and (b) the Custodian's obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. U. S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's foreign currency deposit obligation to a Fund, the Custodian's obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructions, the Custodian may open and operate an additional account(s) in such other banks, banks or trust companies or similar institutions as may be designated by a the Fund in such instructions (any such bank, bank or trust company or similar institution so designated by the Fund being referred to hereafter as a "Banking Institution"), and may hold in such account or accounts deposits of the Fund denominated in U.S. or foreign currency, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U.S. U. S. Dollars or other currencies as a the Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, deposits shall be deemed to be portfolio securities of a the Fund and accordingly the responsibility of the Custodian therefor therefore shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization by a Fund to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragraph with such Subcustodian.

Demand Deposit Bank Accounts. To open and operate an account or accounts in the name of each Fundthe Fund on the Custodian's books, subject only to draft or order by such Fundthe Custodian, and to hold in such account or accounts deposits as a deposit accepted on the Custodian's books denominated in U.S. and cash, including foreign currency, received for the account of the FundFund other than cash held as deposits with Banking Institutions in accordance with the following paragraph. The obligation responsibilities of the Custodian for deposits cash, including foreign currency, of the Fund accepted on the Custodian's books shall be as follows: (a) the Custodian's obligations for deposits accepted on its books and denominated in U.S. currency shall be that of a U.S. bank for a similar deposit and (b) the Custodian's obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's foreign currency deposit obligation to a Fund, the Custodian's obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructions, the Custodian may open and operate an additional account(s) in such other banks, banks or trust companies or similar institutions as may be designated by a the Fund in such instructions (any such bank, bank or trust company or similar institution so designated by the Fund being referred to hereafter as a "Banking Institution"), and may hold deposit cash, including foreign currency, of the Fund in such account or accounts deposits of the Fund denominated in U.S. or foreign currencyaccounts, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U.S. Dollars or other currencies as a the Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, shall be deemed to be portfolio securities of a the Fund and accordingly the responsibility of the Custodian therefor shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization by a the Fund to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragraph with such Subcustodian.. Upon receipt of proper instructions, the Custodian shall take such reasonable steps as the Fund deems necessary or appropriate to cause such deposits to be insured to the maximum extent possible by the Federal Depository Insurance Corporation and any other applicable deposit insurers. 2.13

Demand Deposit Bank Accounts. To open and operate an account or accounts in the name of each the Fund, subject only to draft or order by such Fundthe Custodian, and to hold in such account or accounts deposits as a deposit accepted on the Custodian's books denominated in U.S. and cash, including foreign currency, received for the account of the FundFund other than cash held as deposits with Banking Institutions in accordance with the following paragraph. The obligation responsibilities of the Custodian for deposits cash, including foreign currency, of the Fund accepted on the Custodian's books shall be as follows: (a) the Custodian's obligations for deposits accepted on its books and denominated in U.S. currency a deposit shall be that of a U.S. bank for a similar deposit and (b) the Custodian's obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. U. S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's foreign currency deposit obligation to a Fund, the Custodian's obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructions, the Custodian may open and operate an additional account(s) in such other banks, banks or trust companies or similar institutions as may be designated by a the Fund in such instructions (any such bank, bank or trust company or similar institution so designated by the Fund being referred to hereafter as a "Banking Institution"), and may hold deposit cash, including foreign currency, of the Fund in such account or accounts deposits of the Fund denominated in U.S. or foreign currencyaccounts, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U.S. U. S. Dollars or other currencies as a the Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, shall be deemed to be portfolio securities of a the Fund and accordingly the responsibility of the Custodian therefor shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization by a Fund the Fund. to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragraph with such Subcustodian.

Demand Deposit Bank Accounts. To open and operate an account or ---------------------------- accounts in the name of each Fund, the Fund on the Custodian's books subject only to draft or order by such Fund, and to hold in such account or accounts deposits accepted on the Custodian's books denominated in U.S. and foreign currency, . All funds received by the Custodian from or for the account of the FundFund shall be deposited in said account(s). The obligation responsibilities of the Custodian to the Fund for deposits accepted on the Custodian's books shall be as follows: (a) the Custodian's obligations for deposits accepted on its books and denominated in U.S. currency shall be that of a U.S. bank for a similar deposit and (b) the Custodian's obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. U. S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's foreign currency deposit obligation to a Fund, the Custodian's obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructionsProper Instructions, the Custodian may open and operate an additional account(s) in such other banks, banks or trust companies or similar institutions as may be designated by a the Fund in such instructions (any such bank, bank or trust company or similar institution so designated by the Fund being referred to hereafter as a "Banking Institution"), and may hold in such account or accounts deposits of the Fund denominated in U.S. or foreign currency, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U.S. U. S. Dollars or other currencies as a the Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, deposits shall be deemed to be portfolio securities of a the Fund and accordingly the responsibility of the Custodian therefor therefore shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization by a Fund to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragraph with such Subcustodian.

Demand Deposit Bank Accounts. To open and operate an account or accounts in the name of each Fund, the Fund on the Custodian's books subject only to draft or order by such Fund, and to hold in such account or accounts deposits accepted on the Custodian's books denominated in U.S. and foreign currency, . All funds received by the Custodian from or for the account of the FundFund shall be deposited in said account(s). The obligation responsibilities of the Custodian to the Fund for deposits accepted on the Custodian's books shall be as follows: (a) the Custodian's obligations for deposits accepted on its books and denominated in U.S. currency shall be that of a U.S. bank for a similar deposit and (b) the Custodian's obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. U. S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's foreign currency deposit obligation to a Fund, the Custodian's obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructions, the Custodian may open and operate an additional account(s) in such other banks, banks or trust companies or similar institutions as may be designated by a the Fund in such instructions (any such bank, bank or trust company or similar institution so designated by the Fund being referred to hereafter as a "Banking Institution"), and may hold in such account or accounts deposits of the Fund denominated in U.S. or foreign currency, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit accounts may be opened with Banking Institutions in the United States and in other countries and may be denominated in either U.S. U. S. Dollars or other currencies as a the Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, deposits shall be deemed to be portfolio securities of a the Fund and accordingly the responsibility of the Custodian therefor therefore shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization M. Interest Bearing Call or Time Deposits - To place interest bearing fixed term and call deposits with such banks and in such amounts as the Fund may authorize pursuant to proper instructions. Such deposits may be placed with the Custodian or with Subcustodians or other Banking Institutions as the Fund may determine. Deposits may be denominated in U. S. Dollars or other currencies and need not be evidenced by the issuance or delivery of a certificate to the Custodian, provided that the Custodian shall include in its records with respect to the assets of the Fund appropriate notation as to appoint a Subcustodian the amount and currency of each such deposit, the accepting Banking Institution and other appropriate details, and shall retain such forms of advice or receipt evidencing the deposit, if any, as such may be forwarded to the Custodian by the Banking Institution. Such deposits, other than those placed with the Custodian, shall also constitute a proper instruction to open a be deemed portfolio securities of the Fund and the responsibilities of the Custodian therefor shall be the same as those for demand deposit bank accounts placed with other banks, as described in Section K of this Agreement. The responsibility of the Custodian for such deposits accepted on the Custodian's books shall be that of a U. S. bank for a similar deposit. N. Foreign Exchange Transactions and Futures Contracts - Pursuant to proper instructions, to enter into foreign exchange contracts or options to purchase and sell foreign currencies for spot and future delivery on behalf and for the account subject of the Fund. Such transactions may be undertaken by the Custodian with such Banking Institutions, including the Custodian and Subcustodian(s) as principals, as approved and authorized by the Fund. Foreign exchange contracts and options other than those executed with the Custodian, shall be deemed to be portfolio securities of the Fund and the responsibilities of the Custodian therefor shall be the same as those for demand deposit bank accounts placed with other banks as described in Section 2L of this agreement. Upon receipt of proper instructions, to receive and retain confirmations evidencing the purchase or sale of a futures contract or an option on a futures contract by the Fund; to deposit and maintain in a segregated account, for the benefit of any futures commission merchant or to pay to such futures commission merchant, assets designated by the fund as initial, maintenance or variation "margin" deposits intended to secure the Fund's performance of its obligations under any futures contracts purchased or sold or any options on futures contracts written by the Fund, in accordance with the provisions of any agreement or agreements among any of the Fund, the Custodian and such futures commission merchant, designated to comply with the rules of the Commodity Futures Trading Commission and/or any contract market, or any similar organization or organizations, regarding such margin deposits; and to release and/or transfer assets in such margin accounts only in accordance with any such agreements or rules. O. Stock Loans - Upon receipt of proper instructions, to deliver securities of the Fund, in connection with loans of securities by the Fund, to the borrower thereof prior to receipt of the collateral, if any, for such borrowing, provided that for stock loans secured by cash collateral the Custodian's instructions to the Securities System require that the Securities System may deliver the securities to the borrower thereof only upon receipt of the collateral for such borrowing. P. Collections - To collect, receive and deposit in said account or accounts all income, payments of principal and other payments with respect to the securities held hereunder, and in connection therewith to deliver the certificates or other instruments representing the securities to the issuer thereof or its agent when securities are called, redeemed, retired or otherwise become payable; provided, that the payment is to be made in such form and manner and at such time, which may be after delivery by the Custodian of the instrument representing the security, as is in accordance with the terms of the instrument representing the security, or such proper instructions as the Custodian may receive, or governmental regulations, the rules of Securities Systems or other U.S. securities depositories and clearing agencies or, with respect to securities referred to in clause (iii) of the last sentence of Section 2D, in accordance with generally accepted trade practice; (ii) to execute ownership and other certificates and affidavits for all federal and state tax purposes in connection with receipt of income or other payments with respect to securities of the Fund or in connection with transfer of securities, and (iii) pursuant to proper instructions to take such other actions with respect to collection or receipt of funds or transfer of securities which involve an investment decision. Q. Dividends, Distributions and Redemptions - Upon receipt of proper instructions from the Fund, or upon receipt of instructions from the Fund's shareholder servicing agent or agent with comparable duties (the "Shareholder Servicing Agent") (given by such person or persons and in such manner on behalf of the Shareholder Servicing Agent as the Fund shall have authorized), the Custodian shall release funds or securities to the Shareholder Servicing Agent or otherwise apply funds or securities, insofar as available, for the payment of dividends or other distributions to Fund shareholders. Upon receipt of proper instructions from the Fund, or upon receipt of instructions from the Shareholder Servicing Agent (given by such person or persons and in such manner on behalf of the Shareholder Servicing Agent as the Fund shall have authorized), the Custodian shall release funds or securities, insofar as available, to the Shareholder Servicing Agent or as such Agent shall otherwise instruct for payment to Fund shareholders who have delivered to such Agent a request for repurchase or redemption of their shares of capital stock of the Fund. R. Proxies, Notices, Etc. - Promptly to deliver or mail to the Fund all forms of proxies and all notices of meetings and any other notices or announcements affecting or relating to securities owned by the Fund that are received by the Custodian, and upon receipt of proper instructions, to execute and deliver or cause its nominee to execute and deliver such proxies or other authorizations as may be required. Neither the Custodian nor its nominee shall vote upon any of such securities or execute any proxy to vote thereon or give any consent or take any other action with respect thereto (except as otherwise herein provided) unless ordered to do so by proper instructions. S. Nondiscretionary Details - Without the necessity of express authorization from the Fund, (1) to attend to all nondiscretionary details in connection with the sale, exchange, substitution, purchase, transfer or other dealings with securities, funds or other property of the Portfolio held by the Custodian except as otherwise directed from time to time by the Directors or Trustees of the Fund, and (2) to make payments to itself or others for minor expenses of handling securities or other similar items relating to the Custodian's duties under this paragraph Agreement, provided that all such payments shall be accounted for to the Fund. T. Bills - Upon receipt of proper instructions, to pay or cause to be paid, insofar as funds are available for the purpose, bills, statements, or other obligations of the Fund. U. Deposit of Fund Assets in Securities Systems - The Custodian may deposit and/or maintain securities owned by the Fund in (i) The Depository Trust Company, (ii) any book-entry system as provided in Subpart O of Treasury Circular No. 300, 31 CFR 306, Subpart B ox 00 XXX Xxxx 000, xx xxx xxxx-entry regulations of federal agencies substantially in the form of Subpart O, or (iii) any other domestic clearing agency registered with such Subcustodian.the Securities and Exchange Commission under Section 17A of the Securities Exchange Act of 1934 which acts as a securities depository and whose use the Fund has previously approved in writing (each of the foregoing being referred to in this Agreement as a "Securities System"). Utilization of a Securities

Demand Deposit Bank Accounts. To open and operate maintain an account or accounts in the name of each Fund, the Portfolio on the Custodian's books subject only to draft or order by such Fund, and to hold in such account or accounts deposits accepted on the Custodian's books denominated in U.S. and foreign currency, . All funds received by the Custodian from or for the account of the FundPortfolio shall be deposited in said account(s). The obligation responsibilities of the Custodian to the Portfolio for deposits accepted on the Custodian's books shall be as follows: (a) the Custodian's obligations for deposits accepted on its books and denominated in U.S. currency shall be that of a U.S. bank for a similar deposit and (b) the Custodian's obligations for deposits accepted on its books and denominated in any foreign currency shall be that of a U.S. U. S. bank for a similar deposit, provided that such foreign currency deposits shall have the benefit of and be subject to the provisions of the last paragraph of Section 6.3 hereof, and accordingly in the event and to the extent the Custodian shall be unable to obtain payment due to a Sovereign Risk or other factor described in the first sentence of said last paragraph of Section 6.3 from any bank, trust company or similar institution with which the Custodian has in turn deposited funds denominated in a foreign currency by reason of the Custodian's foreign currency deposit obligation to a Fund, the Custodian's obligation to pay the Fund in respect of such foreign currency obligation shall similarly be deferred or relieved until and to the extent the Custodian is able to obtain payment in respect of the Custodian's foreign deposit from such bank, trust company or similar institution and accordingly shall not be payable on demand in U.S. currency. If and when authorized by proper instructionsProper Instructions, the Custodian may open and operate an additional account(s) in such other banks, bank or trust companies or similar institutions as may be designated by a the Fund in such instructions (any such bank, bank or trust company or similar institution so designated by the Fund being referred to hereafter as a "Banking Institution"), and may hold in such account or accounts deposits of the Fund denominated in U.S. or foreign currency, provided that such account(s) (hereinafter collectively referred to as "demand deposit bank accounts") shall be in the name of the Custodian or a nominee of the Custodian for the account of the Fund or for the account of the Custodian's customers generally Portfolio and shall be subject only to the Custodian's draft or order; provided that any such demand deposit bank account shall contain only assets held by the Custodian as a fiduciary or custodian for the Fund and/or other customers and that the records of the Custodian shall indicate at all times the Fund and/or other customers for which such funds are held in such account and the respective interests therein. Such demand deposit bank accounts may be opened with Banking Institutions in the United States and an in other countries and may be denominated in either U.S. Dollars U. S. Dollar or other currencies as a the Fund may determine. The records for each such account will be maintained by the Custodian but the deposits in any such account shall not constitute a deposit liability of the Custodian. All such deposits, including with Subcustodians, deposit shall be deemed to be portfolio securities of a Fund the Portfolio and accordingly the responsibility of the Custodian therefor shall be the same as and no greater than the Custodian's responsibility in respect of other portfolio securities of the Fund. The authorization by a Fund to appoint a Subcustodian as such shall also constitute a proper instruction to open a demand deposit bank account subject to the provisions of this paragraph with such SubcustodianPortfolio.