Common use of Deposit of Portfolio Assets in Securities Systems Clause in Contracts

Deposit of Portfolio Assets in Securities Systems. Notwithstanding any other provision of this Agreement, Provident may deposit and/or maintain securities owned by each Portfolio in Depository Trust Company, a clearing agency registered with the Securities and Exchange Commission (the "Commission") under Section 17A of the Securities Exchange Act of 1934 (the "Exchange Act"), which acts as a securities depository, in any other clearing agency registered under Section 17A of the Exchange Act and which has been authorized by the Fund's Board of Trustees, in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies or in any other book-entry system which the Commission has authorized for use by investment companies as a securities depository by order or interpretive of no-action letter and which has been authorized by the Fund's Board of Trustees, collectively referred to herein as "Securities System(s)," in accordance with applicable Federal Reserve Board and Commission rules and regulations, if any, and subject to the following provisions: 1) Provident may keep securities of a Portfolio in a Securities System provided that such securities are deposited in an account ("Account") of Provident in the Securities System which shall not include any assets of Provident other than assets held as a fiduciary, custodian or otherwise for customers; 2) The records of Provident with respect to securities of the Portfolios which are maintained in a Securities System shall identify by book-entry those securities belonging to such Portfolio; 3) Provident shall pay for securities purchased for the account of each Portfolio upon (i) receipt of advice from the Securities System that such securities have been transferred to the account, and (ii) the making of an entry on the records of Provident to reflect such payment and transfer for the account of the Portfolio. Provident shall transfer securities sold for the account of each Portfolio upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the account, and (ii) the making of an entry on the records of Provident to reflect such transfer and payment for the account of that Portfolio. Copies of all advices from the Securities System of transfers of securities for the account of each Portfolio shall identify the Portfolio, be maintained for such Portfolio by Provident and be provided to the Fund at its request. Provident shall furnish the Fund confirmation of each transfer to or from the account of the Portfolios in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolios on the next business day; 4) Provident shall promptly provide the Fund with any report obtained by Provident on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities

Deposit of Portfolio Assets in Securities Systems. Notwithstanding any other provision of this Agreement, Provident may deposit and/or maintain securities owned by each Portfolio in Depository Trust Company, a clearing agency registered with the Securities and Exchange Commission (the "Commission") under Section 17A of the Securities Exchange Act of 1934 (the "Exchange Act"), which acts as a securities depository, in any other clearing agency registered under Section 17A of the Exchange Act and which has been authorized by the Fund's Board of TrusteesDirectors, in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies or in any other book-entry system which the Commission has authorized for use by investment companies as a securities depository by order or interpretive of or no-action letter and which has been authorized by the Fund's Board of TrusteesDirectors, collectively referred to herein as "Securities System(s)," in accordance with applicable Federal Reserve Board and Commission rules and regulations, if any, and subject to the following provisions: 1) Provident may keep securities of a Portfolio in a Securities System provided that such securities are deposited in an account ("Account") of Provident in the Securities System which shall not include any assets of Provident other than assets held as a fiduciary, custodian or otherwise for customers; 2) The records of Provident with respect to securities of the Portfolios which are maintained in a Securities System shall identify by book-entry those securities belonging to such Portfolio; 3) Provident shall pay for securities purchased for the account of each Portfolio upon (i) receipt of advice from the Securities System that such securities have been transferred to the account, and (ii) the making of an entry on the records of Provident to reflect such payment and transfer for the account of the Portfolio. Provident shall transfer securities sold for the account of each Portfolio upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the account, and (ii) the making of an entry on the records of Provident to reflect such transfer and payment for the account of that Portfolio. Copies of all advices from the Securities System of transfers of securities for the account of each Portfolio shall identify the Portfolio, be maintained for such Portfolio by Provident and be provided to the Fund at its request. Provident shall furnish the Fund confirmation of each transfer to or from the account of the Portfolios in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolios on the next business day; 4) Provident shall promptly provide the Fund with any report obtained by Provident on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the SecuritiesSecurities System. Provident shall promptly provide the Fund any report on Provident's accounting system, internal accounting control and procedures for safeguarding securities deposited with Provident which is reasonably requested by the Fund; 5) Anything to the contrary in this Agreement notwithstanding, Provident shall be liable to the Fund for any claim, loss, liability, damage or expense to the Fund or its Portfolios, including attorneys' fees, resulting from use of a Securities System by reason of any negligence, misfeasance or misconduct of Provident, its agents or any of its or their employees or from failure of Provident or any such agent to enforce effectively such rights as it may have against a Securities System. At the election of the Fund, it shall be entitled to be subrogated to the rights of Provident or its agents with respect to any claim against the Securities System or any other person which Provident or its agents may have as a consequence of any such claim, loss, liability, damage or expense if and to the extent that the Fund has not been made whole for any such loss or damage.

Deposit of Portfolio Assets in Securities Systems. Notwithstanding any other provision of this Agreement, Provident The Custodian may ------------------------------------------------- deposit and/or maintain securities owned by each the Portfolio in (i) The Depository Trust Company, a (ii) any book-entry system as provided in Subpart O of Treasury Circular Xx. 000, 00 XXX 000, Xxxxxxx X of 31 CFR Part 350, or the book-entry regulations of federal agencies substantially in the form of Subpart O, or (iii) any other domestic clearing agency registered with the Securities and Exchange Commission (the "Commission") under Section 17A of the Securities Exchange Act of 1934 (the "Exchange Act"), which acts as a securities depository, depository and whose use the Fund has previously approved in any other clearing agency registered under Section 17A writing (each of the Exchange Act and which has been authorized by the Fund's Board of Trustees, foregoing being referred to in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies or in any other book-entry system which the Commission has authorized for use by investment companies this Agreement as a securities depository by order or interpretive of no-action letter and which has been authorized by the Fund's Board of Trustees, collectively referred to herein as "Securities System(sSystem'')," . Utilization of a Securities System shall be in accordance with applicable Federal Reserve Board and Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions: 1) Provident The Custodian may keep securities deposit and/or maintain Portfolio securities, either directly or through one or more Agents appointed by the Custodian (provided that any such agent shall be qualified to act as a custodian of a Portfolio the Fund pursuant to the Investment Company Act of 1940 and the rules and regulations thereunder), in a Securities System provided that such securities are deposited represented in an account ("Account") of Provident the Custodian or such Agent in the Securities System which shall not include any assets of Provident the Custodian or Agent other than assets held as a fiduciary, custodian custodian, or otherwise for customers; 2) The records of Provident the Custodian with respect to securities of the Portfolios Portfolio which are maintained in a Securities System shall identify by book-book- entry those securities belonging to such the Portfolio; 3) Provident The Custodian shall pay for securities purchased for the account of each the Portfolio upon (i) receipt of advice from the Securities System that such securities have been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such payment and transfer for the account of the Portfolio. Provident The Custodian shall transfer securities sold for the account of each the Portfolio upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such transfer and payment for the account of that the Portfolio. Copies of all advices from the Securities System of transfers of securities for the account of each the Portfolio shall identify the Portfolio, be maintained for such the Portfolio by Provident the Custodian or an Agent as referred to above, and be provided to the Fund at its request. Provident The Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Portfolios Portfolio in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolios Portfolio on the next business day; 4) Provident The Custodian shall promptly provide the Fund with any report obtained by Provident the Custodian or any Agent as referred to above on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the SecuritiesSecurities System; and the Custodian and such Agents shall send to the Fund such reports on their own systems of internal accounting control as the Fund may reasonably request from time to time. 5) At the written request of the Fund, the Custodian will terminate the use of any such Securities System on behalf of the Portfolio as promptly as practicable.

Deposit of Portfolio Assets in Securities Systems. Notwithstanding any other provision of this Agreement, Provident may deposit and/or maintain securities owned by each Portfolio in Depository Trust Company, a clearing agency registered with the Securities and Exchange Commission (the "Commission") under Section 17A of the Securities Exchange Act of 1934 (the "Exchange Act"), which acts as a securities depository, in any other clearing agency registered under Section 17A of the Exchange Act and which has been authorized by the Fund's Board of Trustees, in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies or in any other book-entry system which the Commission has authorized for use by investment companies as a securities depository by order or interpretive of or no-action letter and which has been authorized by the Fund's Board of Trustees, collectively referred to herein as "Securities System(s)," in accordance with applicable Federal Reserve Board and Commission rules and regulations, if any, and subject to the following provisions: 1) Provident may keep securities of a Portfolio in a Securities System provided that such securities are deposited in an account ("Account") of Provident in the Securities System which shall not include any assets of Provident other than assets held as a fiduciary, custodian or otherwise for customers; 2) The records of Provident with respect to securities of the Portfolios which are maintained in a Securities System shall identify by book-entry those securities belonging to such Portfolio; 3) Provident shall pay for securities purchased for the account of each Portfolio upon (i) receipt of advice from the Securities System that such securities have been transferred to the account, and (ii) the making of an entry on the records of Provident to reflect such payment and transfer for the account of the Portfolio. Provident shall transfer securities sold for the account of each Portfolio upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the account, and (ii) the making of an entry on the records of Provident to reflect such transfer and payment for the account of that Portfolio. Copies of all advices from the Securities System of transfers of securities for the account of each Portfolio shall identify the Portfolio, be maintained for such Portfolio by Provident and be provided to the Fund at its request. Provident shall furnish the Fund confirmation of each transfer to or from the account of the Portfolios in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolios on the next business day; 4) Provident shall promptly provide the Fund with any report obtained by Provident on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the SecuritiesSecurities System. Provident shall promptly provide the Fund any report on Provident's accounting system, internal accounting control and procedures for safeguarding securities deposited with Provident which is reasonably requested by the Fund; 5) Anything to the contrary in this Agreement notwithstanding, Provident shall be liable to the Fund for any claim, loss, liability, damage or expense to the Fund or its Portfolios, including attorneys' fees, resulting from use of a Securities System by reason of any negligence, misfeasance or misconduct of Provident, its agents or any of its or their employees or from failure of Provident or any such agent to enforce effectively such rights as it may have against a Securities System. At the election of the Fund, it shall be entitled to be subrogated to the rights of Provident or its agents with respect to any claim against the Securities System or any other person which Provident or its agents may have as a consequence of any such claim, loss, liability, damage or expense if and to the extent that the Fund has not been made whole for any such loss or damage.

Deposit of Portfolio Assets in Securities Systems. Notwithstanding any other provision of this Agreement, Provident The Custodian may deposit and/or maintain domestic securities owned by each the Portfolio in Depository Trust Company, a clearing agency registered with the Securities and Exchange Commission (the "Commission") under Section 17A of the Securities Exchange Act of 1934 (the "Exchange Act")1934, which acts as a securities depository, in any other clearing agency registered under Section 17A of the Exchange Act and which has been authorized by the Fund's Board of Trustees, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies or in any other book-entry system which the Commission has authorized for use by investment companies as a securities depository by order or interpretive of no-action letter and which has been authorized by the Fund's Board of Trusteesagencies, collectively referred to herein as "Securities System(s),Systems" in accordance with applicable Federal Reserve Board and Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions: 1) Provident The custodian may keep deposit and/or maintain domestic securities of a the Portfolio in a Securities System provided that such securities are deposited represented in an account ("Account") of Provident the Custodian in the Securities System which shall not include any assets of Provident the Custodian other than assets held as a fiduciary, custodian or otherwise for customers; 2) The records of Provident the Custodian with respect to domestic securities of the Portfolios Portfolio which are maintained in a Securities System shall identify by book-entry those securities belonging to such the Portfolio; 3) Provident The Custodian shall pay for domestic securities purchased for the account of each the Portfolio upon (i) receipt of advice from the Securities System that such securities have been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such payment and transfer for the account of the Portfolio. Provident The Custodian shall transfer domestic securities sold for the account of each the Portfolio upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such transfer and payment for the account of that the Portfolio. Copies of all advices from the Securities System of transfers of domestic securities for the account of each the Portfolio shall identify the Portfolio, be maintained for such the Portfolio by Provident the Custodian and be provided to the Fund Portfolio at its request. Provident The Custodian shall furnish the Fund Portfolio confirmation of each transfer to or from the account of the Portfolios Portfolio in the form of a written advice or notice and shall furnish to the Fund Portfolio copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolios Portfolio on the next business day; 4) Provident The Custodian shall promptly provide the Fund Portfolio with any report obtained by Provident the Custodian (or by any agent appointed by the custodian pursuant to Section and furnished to the custodian) on the Securities System's Systems accounting system, internal accounting control and procedures for safeguarding securities deposited in the SecuritiesSecurities System; 5) The Custodian shall have received the initial certificate required by Article 12 hereof; 6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Portfolio for any loss, damage or expense to the Portfolio resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Portfolio, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss, damage or expense if and to the extent that the Portfolio has not been made whole for any such loss, damage or expense. The Custodian agrees to cooperate with the Portfolio in connection with the enforcement of the Portfolio's subrogation rights.

Deposit of Portfolio Assets in Securities Systems. Notwithstanding any other provision of this Agreement, Provident The Custodian may deposit and/or maintain securities owned by each a Portfolio in Depository Trust Company, a clearing agency registered with the Securities and Exchange Commission (the "Commission") under Section 17A of the Securities Exchange Act of 1934 (the "Exchange Act")1934, which acts as a securities depository, in any other clearing agency registered under Section 17A of the Exchange Act and which has been authorized by the Fund's Board of Trustees, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies or in any other book-entry system which the Commission has authorized for use by investment companies as a securities depository by order or interpretive of no-action letter and which has been authorized by the Fund's Board of Trusteesagencies, collectively referred to herein as "Securities System(s),System" in accordance with applicable Federal Reserve Board and Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions: 1) Provident The Custodian may keep deposit and/or maintain securities of a the Portfolio in a Securities System provided that such securities are deposited represented in an account ("Account") of Provident the Custodian in the Securities System which shall not include any assets of Provident the Custodian other than assets held as a fiduciary, custodian or otherwise for customers; 2) The records of Provident the Custodian with respect to securities of the Portfolios Portfolio which are maintained in a Securities System shall identify by book-entry those securities belonging to such the Portfolio; 3) Provident The Custodian shall pay for securities purchased for the account of each the Portfolio upon (i) receipt of advice from the Securities System that such securities have been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such payment and transfer for the account of the Portfolio. Provident The Custodian shall transfer securities sold for the account of each the Portfolio upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such transfer and payment for the account of that the Portfolio. Copies of all advices from the Securities System of transfers of securities for the account of each the Portfolio shall identify the Portfolio, be maintained for such the Portfolio by Provident the Custodian and be provided to the Fund Portfolio at its request. Provident The Custodian shall furnish the Fund Portfolio confirmation of each transfer to or from the account of the Portfolios Portfolio in the form of a written advice or notice and shall furnish to the Fund Portfolio copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolios Portfolio on the next business day; 4) Provident The Custodian shall promptly provide the Fund Portfolio with any report obtained by Provident the Custodian (or by any agent appointed by the Custodian pursuant to Section 2.9 and furnished to the Custodian) on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the SecuritiesSecurities System; 5) The Custodian shall have received the initial or annual certificate, as the case may be, required by Article 9 hereof; 6) At the request of the Fund on behalf of the Portfolio, the Custodian will terminate the use of any such Securities System on behalf of the Portfolio as promptly as practicable; and 7) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Portfolio for any loss, damage or expense to the Portfolio resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund on behalf of the Portfolio, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss, damage or expense if and to the extent that the Portfolio has not been made whole for any such loss, damage or expense. The Custodian agrees to cooperate with the Fund in connection with the enforcement of the Fund's subrogation rights.

Deposit of Portfolio Assets in Securities Systems. Notwithstanding any other provision of this Agreement, Provident The Custodian may deposit and/or maintain securities owned by each the Portfolio in (i) The Depository Trust Company, a (ii) any bookentry system as provided in Subpart O of Treasury Circular Xx. 000, 00 XXX 000, Xxxxxxx X of 31 CFR Part 350, or the bookentry regulations of federal agencies substantially in the form of Subpart O, or (iii) any other domestic clearing agency registered with the Securities and Exchange Commission (the "Commission") under Section 17A of the Securities Exchange Act of 1934 (the "Exchange Act"), which acts as a securities depository, depository and whose use the Fund has previously approved in any other clearing agency registered under Section 17A writing (each of the Exchange Act and which has been authorized by the Fund's Board of Trustees, foregoing being referred to in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies or in any other book-entry system which the Commission has authorized for use by investment companies this Agreement as a securities depository by order or interpretive of no-action letter and which has been authorized by the Fund's Board of Trustees, collectively referred to herein as "Securities System(sSystem")," . Utilization of a Securities System shall be in accordance with applicable Federal Reserve Board and Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions: 1) Provident The Custodian may keep securities deposit and/or maintain Portfolio securities, either directly or through one or more Agents appointed by the Custodian (provided that any such agent shall be qualified to act as a custodian of a Portfolio the Fund pursuant to the Investment Company Act of 1940 and the rules and regulations thereunder), in a Securities System provided that such securities are deposited represented in an account ("Account") of Provident the Custodian or such Agent in the Securities System which shall not include any assets of Provident the Custodian or Agent other than assets held as a fiduciary, custodian custodian, or otherwise for customers; 2) The records of Provident the Custodian with respect to securities of the Portfolios Portfolio which are maintained in a Securities System shall identify by book-entry those securities belonging to such the Portfolio;, 3) Provident The Custodian shall pay for securities purchased for the account of each the Portfolio upon (i) receipt of advice from the Securities System that such securities have been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such payment and transfer for the account of the Portfolio. Provident The Custodian shall transfer securities sold for the account of each the Portfolio upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such transfer and payment for the account of that the Portfolio. Copies of all advices from the Securities System of transfers of securities for the account of each the Portfolio shall identify the Portfolio, be maintained for such the Portfolio by Provident the Custodian or an Agent as referred to above, and be provided to the Fund at its request. Provident The Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Portfolios Portfolio in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolios Portfolio on the next business day; 4) Provident The Custodian shall promptly provide the Fund with any report obtained by Provident the Custodian or any Agent as referred to above on the Securities System's accounting system, internal accounting control contract and procedures for safeguarding securities deposited in the SecuritiesSecurities System; and the Custodian and such Agents shall send to the Fund such reports on their own systems of internal accounting control as the Fund may reasonably request from time to time. 5) At the written request of the Fund, the Custodian will terminate the use of any such Securities System on behalf of the Portfolio as promptly as practicable.

Deposit of Portfolio Assets in Securities Systems. Notwithstanding any other provision of this Agreement, Provident The Custodian may deposit and/or maintain securities owned by each a Portfolio in Depository Trust Company, a clearing agency registered with the Securities and Exchange Commission (the "Commission") under Section 17A of the Securities Exchange Act of 1934 (the "Exchange Act")1934, which acts as a securities depository, in any other clearing agency registered under Section 17A of the Exchange Act and which has been authorized by the Fund's Board of Trustees, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies or in any other book-entry system which the Commission has authorized for use by investment companies as a securities depository by order or interpretive of no-action letter and which has been authorized by the Fund's Board of Trusteesagencies, collectively referred to herein as "Securities System(s),System" in accordance with applicable Federal Reserve Board and Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions: 1) Provident The Custodian may keep securities of a the Portfolio in a Securities System provided that such securities are deposited represented in an account ("Account") of Provident the Custodian in the Securities System which shall not include any assets of Provident the Custodian other than assets held as a fiduciary, custodian or otherwise for customers; 2) The records of Provident the Custodian with respect to securities of the Portfolios Portfolio which are maintained in a Securities System shall identify by book-entry those securities belonging to such the Portfolio; 3) Provident The Custodian shall pay for securities purchased for the account of each the Portfolio upon (i) receipt of advice from the Securities System that such securities have been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such payment and transfer for the account of the Portfolio. Provident The Custodian shall transfer securities sold for the account of each the Portfolio upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the accountAccount, and (ii) the making of an entry on the records of Provident the Custodian to reflect such transfer and payment for the account of that the Portfolio. Copies of all advices from the Securities System of transfers of securities for the account of each the Portfolio shall identify the Portfolio, be maintained for such the Portfolio by Provident the Custodian and be provided to the Fund Trust at its the Trust's request. Provident Upon request, the Custodian shall furnish the Fund Trust on behalf of the Portfolio confirmation of each transfer to or from the account of the Portfolios Portfolio in the form of a written advice or notice and shall furnish to the Fund Trust on behalf of the Portfolio copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolios on the next business dayPortfolio; 4) Provident The Custodian shall promptly provide the Fund Trust with any report obtained by Provident the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System; 5) The Custodian shall have received from the Trust initial or annual certificate, as the case may be, required by Article 14 hereof; 6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Trust for any loss or damage to the Trust or the Portfolio(s) resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities