Common use of Failure to Designate Successor Custodian Clause in Contracts

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustCompany, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Company shall, upon the delivery by the Custodian to the Trust Company of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustCompany) and moneys then owned by the TrustCompany, be deemed to be the custodian for the TrustCompany, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the TrustCompany, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, Corporation ,or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Corporation shall, upon the delivery by the Custodian to the Trust Corporation of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustCorporation) and moneys then owned by the Trust, Corporation ,be deemed to be the custodian for the Trust, Corporation ,and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, Corporation ,which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustCorporation, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Corporation shall, upon the delivery by the Custodian to the Trust Corporation of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustCorporation) and moneys then owned by the TrustCorporation, be deemed to be the custodian for the TrustCorporation, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the TrustCorporation, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated designate -23- by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, except for any indemnities or other than obligations that expressly survive the termination of this agreement and the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustCompany, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Company shall, upon the delivery by the Custodian to the Trust Company of all Securities (other than Securities held in the Book-Entry Book‑Entry System which cannot be delivered to the TrustCompany) and moneys then owned by the TrustCompany, be deemed to be the custodian for the TrustCompany, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry Book‑Entry System, which cannot be delivered to the TrustCompany, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor ---------------------------------------- custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor ----------------------------------------- custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustFund, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Fund shall, upon the delivery by the Custodian to the Trust Fund of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustFund) and moneys then owned by the TrustFund, be deemed to be the custodian for the TrustFund, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the TrustFund, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry Book‑Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry Book‑Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor ------------------------------------------ custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated designate by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities Investments (other than Securities Investments held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities Investments held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustCorporation, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serveserve as such, the Trust Corporation shall, upon the delivery by the Custodian to the Trust Corporation of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustCorporation) and moneys then owned by the TrustCorporation, be deemed to be the custodian for the TrustCorporation, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the TrustCorporation, which shall be held by the Custodian in accordance with this Agreement.

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.. ARTICLE X

Failure to Designate Successor Custodian. If a successor custodian is not designated notdesignated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor designatedsuccessor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities allSecurities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys andmoneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby shallthereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect withrespect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held beheld by the Custodian in accordance with this Agreement.