Common use of Dividend and Distribution Payment Services Clause in Contracts

Dividend and Distribution Payment Services. (1) Upon the declaration of any dividend or distribution payable either in Shares or cash, the Fund shall notify Chase in writing setting forth the date of payment (the "Payment Date") of such dividend or distribution, the record date as of which Shareholders entitled to payment thereof shall be determined (the "Record Date"), and the amount payable per Share to Shareholders of record as of the Record Date. In the case of dividends at regular intervals, such notification may be a standing notification setting forth the method of calculating such dividends and the Fund or its agent shall advise Chase of the amount of such dividend at the appropriate intervals. Chase shall notify the Fund and the entity then acting as the custodian (which entity may be an affiliate of Chase) for the portfolio securities and cash of the Fund (the "Custodian") of the amount of cash required to pay the dividend or distribution so that the Fund may instruct the custodian to make sufficient funds available on or before the Payment Date. Upon receipt by Chase or a drawee bank selected by Chase of such funds from the Custodian, Chase shall prepare and mail to Shareholders, who are not participants in the Dividend Reinvestment Plan, at their addresses as they appear on the records maintained by Chase or pursuant to any written order of a Shareholder on file with Chase, checks representing any dividend or distributions to which they are entitled, and an accompanying distribution statement.

Dividend and Distribution Payment Services. (1) Upon the declaration of any dividend or distribution payable either in Shares or cash, the Fund shall notify Chase in writing setting forth the date of payment (the "Payment Date") of such dividend or distribution, the record date as of which Shareholders entitled to payment thereof shall be determined (the "Record Date"), and the amount payable per Share to Shareholders of record as of the Record Date. In the case of dividends at regular intervals, such notification may be a standing notification setting forth the method of calculating such dividends and the Fund or its agent shall advise Chase of the amount of such dividend at the appropriate intervals. Chase shall notify the Fund and the entity then acting as the custodian (which entity may be an affiliate of Chase) for the portfolio securities and cash of the Fund (the "Custodian") of the amount of cash required to pay the dividend or distribution so that the Fund may instruct the custodian to make sufficient funds available on or before the Payment Date. Upon receipt by Chase or a drawee bank selected by Chase of such funds from the Custodian, Chase shall prepare and mail to Shareholders, who are not participants in the Dividend Reinvestment Plan, at their addresses as they appear on the records maintained by Chase or pursuant to any written order of a Shareholder on file with Chase, checks representing any dividend or distributions to which they are entitled, and an accompanying distribution statement.