Common use of Disbursement of Money Clause in Contracts

Disbursement of Money. The Custodian shall disburse money credited to an Account pursuant to this Schedule E only pursuant to Written Instructions of the Fund transmitted through ACCESS to transfer funds as directed by the Fund. The Custodian shall be required to disburse money in accordance with the foregoing only insofar as such money is immediately available and on deposit with the Custodian. If an Omnibus Account has been established hereunder for the disbursement of money, such money shall be credited to the Omnibus Account pending such disbursement. All instructions directing the disbursement of money credited to an Account or Omnibus Account under this Agreement (whether through ACCESS or by Oral Instructions pursuant to Section D hereof) must identify an account to which such money shall be transferred, and include all other information reasonably required by the Custodian from time to time. It is understood and agreed that with respect to any such instructions, when instructed to credit or pay a party by both name and a unique numeric or alpha-numeric identifier (e.g., ABA number or account number), the Custodian and any other financial institution participating in the funds transfer may rely solely on the unique identifier, even if it identifies a party different than the party named. Such reliance on a unique identifier shall apply to beneficiaries named in such instructions as well as any financial institution which is designated in such instruction to act as an intermediary in a funds transfer.