Common use of Eligible Foreign Custodians Clause in Contracts

Eligible Foreign Custodians. Subject to the provisions of this Agreement, the Custodian shall select an Eligible Foreign Custodian with respect to each Specified Country. In connection therewith, the Custodian shall: (a) determine that assets of the Fund held by such Eligible Foreign Custodian will be subject to reasonable care, based on the standards applicable to custodians in the relevant market in which such Eligible Foreign Custodian operates, after considering all factors relevant to the safekeeping of such assets, including, without limitation, those contained in paragraph (c)(1) of Rule 17f-5; (b) determine that the Fund's foreign custody arrangements with each Qualified Foreign Bank are governed by a written contract with the Custodian (or, in the case of a Securities Depository, by such a contract, by the rules or established practices or procedures of the Securities Depository, or by any combination of the foregoing) which will provide reasonable care for the Fund's assets based on the standards specified in paragraph (c)(1) of Rule 17f-5; (c) determine that each contract with a Qualified Foreign Bank shall include the provisions specified in paragraph (c)(2)(i)(A) through (F) of Rule 17f-5 or, alternatively, in lieu of any or all of such (c)(2)(i)(A) through (F) provisions, such other provisions as the Custodian determines will provide, in their entirety, the same or a greater level of care and protection for the assets of the Fund as such specified provisions; (d) monitor pursuant to the Monitoring System the appropriateness of maintaining the assets of the Fund with a particular Eligible Foreign Custodian pursuant to paragraph (c)(1) of Rule 17f-5 and in the case of a Qualified Foreign Bank, any material change in the contract governing such arrangement and in the case of a Securities Depository, any material change in the established practices or procedures of such Securities Depository; and (e) advise the Fund whenever an arrangement (including, in the case of a Qualified Foreign Bank, any material change in the contract governing such arrangement and in the case of a Securities Depository, any material change in the established practices or procedures of such Securities Depository) described in preceding clause (d) no longer meets the requirements of Rule 17f-5.

Eligible Foreign Custodians. Subject to the provisions of this Agreement, the Custodian shall select an Eligible Foreign Custodian with respect to each Specified Country. In connection therewith, the Custodian shall: (a) determine that assets of the Fund held by such Eligible Foreign Custodian will be subject to reasonable care, based on the standards applicable to custodians in the relevant market in which such Eligible Foreign Custodian operates, after considering all factors relevant to the safekeeping of such assets, including, without limitation, those contained in paragraph (c)(1) of Rule 17f-5; (b) determine that the Fund's foreign custody arrangements with each Qualified Foreign Bank are governed by a written contract with the Custodian (or, in the case of a Securities Depository, by such a contract, by the rules or established practices or procedures of the Securities Depository, or by any combination of the foregoing) which will provide reasonable care for the Fund's assets based on the standards specified in paragraph (c)(1c)(2) of Rule 17f-5; (c) determine that each contract with a Qualified Foreign Bank shall include the provisions specified in paragraph (c)(2)(i)(A) through (F) of Rule 17f-5 or, alternatively, in lieu of any or all of such (c)(2)(i)(A) through (F) provisions, such other provisions as the Custodian determines will provide, in their entirety, the same or a greater level of care and protection for the assets of the Fund as such specified provisions; (d) monitor pursuant to the Monitoring System the appropriateness of maintaining the assets of the Fund with a particular Eligible Foreign Custodian pursuant to paragraph (c)(1c)(3) of Rule 17f-5 and in the case of a Qualified Foreign Bank, any material change in the contract governing such arrangement and in the case of a Securities Depository, any material change in the established practices or procedures of such Securities Depository; and (ef) advise if the Fund whenever Custodian determines that a custody arrangement with an arrangement (including, in the case of a Qualified Foreign Bank, any material change in the contract governing such arrangement and in the case of a Eligible Securities Depository, any material change in the established practices or procedures of such Securities Depository) described in preceding clause (d) Depository no longer meets the requirements of Rule 17f-517f-7(a), the Fund's assets must be withdrawn from the depository as soon as reasonably practicable.

Eligible Foreign Custodians. Subject to the provisions of this Agreement, the Custodian shall select an Eligible Foreign Custodian with respect to each Specified Country. In connection therewith, the Custodian shall: (a) determine that assets of the Fund held by such Eligible Foreign Custodian will be subject to reasonable care, based on the standards applicable to custodians in the relevant market in which such Eligible Foreign Custodian operates, after considering all factors relevant to o the safekeeping of such assets, including, without limitation, limitation ,those contained in paragraph (c)(1) of Rule 17f-5; (b) determine that the Fund's ’s foreign custody arrangements with each Qualified Foreign Bank are governed by a written contract with the Custodian (or, in the case of a an Eligible Securities Depository, by such a contract, by the rules or established practices or procedures of the Eligible Securities Depository, or by any a combination of the foregoing) which will provide reasonable care for the Fund's ’s assets based on the standards specified in paragraph (c)(1c)(2) of Rule 17f-517f-5 in the case of a Custodian and in accordance with Rule 17f-7 if an Eligible Securities Depository; (c) determine that each contract with a Qualified Foreign Bank shall include the provisions specified in paragraph (c)(2)(i)(A) through (F) of Rule 17f-5 or, alternatively, in lieu of any or all of such (c)(2)(i)(A) through (F) provisions, such other provisions as the Custodian determines will provide, in their entirety, the same or a greater level of care and protection for the assets of the Fund as such specified provisions; (d) monitor pursuant to the Monitoring System the appropriateness of maintaining the assets of the Fund with a particular Eligible Foreign Custodian pursuant to paragraph (c)(1c)(3) of Rule 17f-5 and in the case of a Qualified Foreign Bank, any material change in the contract governing such arrangement and in the case of a an Eligible Securities Depository, any material change in the established practices or procedures of such Eligible Securities Depository; andDepository in accordance with the requirements of Rule 17f-7; (e) advise the Fund whenever an arrangement (including, in the case of a Qualified Foreign Bank, any material change in the contract governing such arrangement and in the case of a an Eligible Securities Depository, any material change in the established practices or procedures of such Eligible Securities Depository) described in preceding clause (d) no longer meets the requirements of Rule 17f-5; and (f) if the Custodian determines that a custody arrangement with an Eligible Securities Depository no longer meets the requirements of Rule 17f-7(a) the Fund’s assets must be withdrawn from the depository as soon as reasonably practicable.