Duties of the. Custodian with Respect to Property of the Fund Held By the Custodian in the United States
Duties of the. Custodian with Respect to Property of the Fund Held ----------------------------------------------------------------- Outside of the United States ----------------------------
Duties of the. Custodian with Respect to Property of the Portfolios to be Held Outside the United States.
Duties of the. CUSTODIAN WITH RESPECT TO PROPERTY OF THE PORTFOLIOS HELD OUTSIDE THE UNITED STATES
Duties of the. Custodian with Respect to Property of each Fund Held by the Custodian in the United States..................................................2 2.1
Duties of the. Custodian with Respect to Property of the Fund Held Outside of the United States 9 3.1 Appointment of Foreign Sub-Custodians................ 9 3.2
Duties of the. CUSTODIAN WITH RESPECT TO PROPERTY OF THE PORTFOLIOS TO BE HELD IN THE UNITED STATES.
Duties of the. Local Manager MSIM hereby employs the Local Manager to act as investment adviser to MSIM and to furnish the investment advisory services described below, subject to the broad supervision of MSIM and the Fund, for the period and on the terms and conditions set forth in this Agreement. The Local Manager hereby accepts such employment and agrees during such period, at its own expense, to render, or arrange for the rendering of, such services and to assume the obligations herein set forth for the compensation provided for herein. The Local Manager and its affiliates shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund. The Local Manager shall have the right to make unsolicited calls on MSIM and shall provide MSIM with such investment research, advice and supervision as the latter may from time to time consider necessary for the proper supervision of the assets of the Fund; shall furnish continuously an investment program for the Fund and shall make recommendations from time to time as to which securities shall be purchased, sold or exchanged and what portion of the assets of the Fund shall be held in the various securities in which the Fund invests, options, futures, options on futures or cash; all of the foregoing subject always to the restrictions of the Articles of Incorporation and By-Laws of the Fund, as they may be amended and/or restated from time to time, the provisions of the Investment Company Act and the statements relating to the Fund's investment objective(s), investment restrictions as the same are set forth in the then-currently effective prospectus, if any, relating to the shares of the Fund under the Securities Act of 1933, as amended (the "Prospectus") or such other applicable disclosure document. The Local Manager shall make recommendations and effect transactions with respect to foreign currency matters, including foreign exchange contracts, foreign currency options, foreign currency futures and related options on foreign currency futures and forward foreign currency transactions. The Local Manager shall also make recommendations or take action as to the manner in which voting rights, rights to consent to corporate action and any other rights pertaining to the portfolio securities of the Fund shall be exercised. The Local Manager will not hold money on beha...
