Common use of Establishment of Segregated Account Clause in Contracts

Establishment of Segregated Account. Upon receipt of Proper Instructions, the Custodian shall establish and maintain on its books a segregated account or accounts for and on behalf of each Fund or a Subsidiary, into which account or accounts may be transferred Assets or cash, including cash maintained by the Custodian in a Bank Account for the benefit of a particular Fund: (a) in accordance with the provisions of any agreement among a Fund or a Subsidiary, the Custodian and such other party regarding escrow or other arrangements in connection with transactions by a Fund or a Subsidiary; (b) which constitute collateral for a borrowing by a Fund or Subsidiary; (c) for purposes of compliance by a Fund with requirements under the 1940 Act (including 1940 Act Release No. 10666 or any subsequent release of the SEC, or interpretative opinion of the staff of the SEC for the maintenance of segregated accounts by registered investment companies in connection with reverse repurchase agreements and when-issued, delayed delivery, and firm commitment transactions) and (d) for other proper custody purposes, but only upon receipt of Proper Instructions. Each segregated account established under this Section 3.10 shall be established and maintained for a particular Fund or its Subsidiary only and not for any other client of the Custodian. A Fund, and not the Custodian, shall be responsible for determining whether such segregated account meets any applicable regulatory, contractual or other purpose for which the account was created.

Establishment of Segregated Account. Upon receipt of Proper Instructions, the Custodian shall establish and maintain on its books a segregated account or accounts for and on behalf of each the Fund or a Subsidiary, into which account or accounts may be transferred Assets or cash, including cash maintained by the Custodian in a Bank Account for the benefit of a particular the Fund: (a) in accordance with the provisions of any agreement among a the Fund or a Subsidiary, the Custodian and such other party regarding escrow or other arrangements in connection with transactions by a the Fund or a Subsidiary; (b) which constitute collateral for a borrowing by a the Fund or a Subsidiary; (c) for purposes of compliance by a the Fund with requirements under the 1940 Act (including 1940 Act Release No. 10666 or any subsequent release of the SECapplicable regulation, guidance or interpretative opinion of the staff of the SEC for the maintenance of segregated accounts by registered investment companies in connection with reverse repurchase agreements and when-issued, delayed delivery, delivery and firm commitment transactions) ); and (d) for other proper custody purposes, but only upon receipt of Proper Instructions. Each segregated account established under this Section 3.10 shall be established and maintained for a particular the Fund or its Subsidiary only and not for any other client of the Custodian. A The Fund, and not the Custodian, shall be responsible for determining whether such segregated account meets any applicable regulatory, contractual or other purpose for which the account was created.