Common use of Foreign Currency Exchange Clause in Contracts

Foreign Currency Exchange. Unless the Depositor shall otherwise direct, whenever funds are received by the Trustee in foreign currency, upon the receipt thereof or, if such funds are to be received in respect of a sale of Securities, concurrently with the contract of the sale for the Security (in the latter case the foreign exchange contract to have a settlement date coincident with the relevant contract of sale for the Security), the Trustee shall enter into a foreign exchange contract for the conversion of such funds to U.S. dollars pursuant to the direction of the Depositor. The Trustee shall have no liability for any loss or depreciation resulting from such action taken pursuant to such directions." 23. The following sentence is added at the end of Section 5.01(b) of the Standard Terms and Conditions of Trust: "If the Trust holds Securities denominated in a currency other than U.S. dollars, the Evaluation of such Security shall be converted to U.S. dollars based on current offering side exchange rates (unless the Evaluator deems such prices inappropriate as a basis for valuation)." 24. The following sentence is added at the end of the first paragraph of Section 5.01(c) of the Standard Terms and Conditions of Trust: "After the initial offering period, if the Trust holds Securities denominated in a currency other than U.S. dollars, the Evaluation of such Security shall be converted to U.S. dollars based on current bid side exchange rates (unless the Evaluator deems such prices inappropriate as a basis for valuation)." 25. The following sentence is added at the end of the first paragraph of Section 6.01 of the Standard Terms and Conditions of Trust: