Common use of Effect on Property Clause in Contracts

Effect on Property. On or prior to the termination date of this agreement, the Custodian shall deliver the Securities and Cash as instructed by the Client. Any such Securities shall be duly endorsed and in the form for transfer. In addition, if requested by Client, Custodian shall provide to any successor custodian its records relating to the Fund. If by the termination date the Client has not given instructions to deliver any Securities or Cash, the Custodian will continue to safekeep such Securities and/or Cash until the Client provides instructions to effect a free delivery of such. However, the Custodian will provide no other services as regard to any such Securities except to collect and hold any cash distributions. Notwithstanding termination of this Agreement or any Instruction, the Custodian may retain sufficient Securities or Cash to close out or complete any transaction that the Custodian will be required to settle on the Client’s behalf.

Effect on Property. On or prior to the termination date of this agreement, the The Custodian shall will deliver the Securities and Cash as instructed by the Client. Any such Securities shall be duly endorsed and in the form for transfer. In addition, if requested by Client, Custodian shall provide to any successor custodian its records relating to the Fund. If by the termination date the Client has not given instructions to deliver any Securities or Cash, the Custodian will continue to safekeep such Securities and/or Cash until the Client provides instructions to effect a free delivery of such. However, beyond safekeeping, the Custodian will provide no other services as regard to any such Securities except to collect and hold any cash distributions. The Custodian will be entitled to charge the Client standard fees for Securities or Cash retained in safekeeping after termination of this Agreement. Notwithstanding termination of this Agreement or any Instruction, the Custodian may retain sufficient Securities or Cash Cash, the amount to be specified in writing by mutual agreement of the parties, to close out or complete any transaction that the Custodian will be required to settle on the Client’s behalf.