Common use of Employment of a Custodian Clause in Contracts

Employment of a Custodian. The Trust shall place and at all times maintain in the custody of a Custodian (including any sub-custodian for the Custodian) all securities owned by the Trust and cash representing the proceeds from sales of securities owned by the Trust and of capital stock or other units of beneficial interest issued to the Trust, payments of principal upon securities owned by the Trust, or capital distribution in respect to capital stock or other units of beneficial interest owned by the Trust, pursuant to a written contract with such Custodian. The Custodian shall be a bank or trust company having not less than $2,000,000 aggregate capital, surplus and undivided profits (as shown in its last published report).

Employment of a Custodian. The Trust Company shall place and at all times maintain in the custody of a Custodian (including any sub-custodian for the Custodian) all securities owned by the Trust Company and cash representing the proceeds from sales of securities owned by the Trust Company and of capital stock or other units of beneficial interest issued to the TrustCompany, payments of principal upon securities owned by the TrustCompany, or capital distribution in respect to capital stock or other units of beneficial interest owned by the TrustCompany, pursuant to a written contract with such Custodian. The Custodian shall be a bank or trust company having not less than $2,000,000 aggregate capital, surplus and undivided profits (as shown in its last published report).