Employment of Custodian and Property to be Held. by It The Fund hereby employs the Custodian as the custodian for each Portfolio, and the Custodian hereby accepts such employment on the terms and conditions hereinafter set forth. The Fund, on behalf of each Portfolio, agrees to deliver to the Custodian (a) all Financial Assets (as defined in Section 2) and cash (collectively, "ASSETS"), belonging to each Portfolio, (b) all payments of income, principal and other cash and non-cash distributions received by such Portfolio in respect of Assets held hereunder, and (c) cash consideration received by such Portfolio for new or treasury shares of the Fund ("SHARES") issued or sold from time to time. The Custodian shall not be responsible for any Assets of the Fund held or received by the Fund and not delivered to the Custodian.
Appears in 4 contracts
Samples: Custodian Agreement (Growth Fund of America Inc), Custodian Agreement (Smallcap World Fund Inc), Custodian Agreement (Fundamental Investors Inc)
