Common use of FOREIGN CUSTODY ARRANGEMENTS Clause in Contracts

FOREIGN CUSTODY ARRANGEMENTS. Implementation of the Funds' foreign custody arrangements pursuant to written contracts, by the rules or established practices or procedures of the Mandatory Securities Depository, or by any combination of the foregoing that AIM determines will provide reasonable care for the Funds' Foreign Assets based on the standards specified in paragraph A.2. above. Any such contracts shall include provisions that provide: A. For indemnification or insurance arrangements (or any combination of the foregoing) such that the Funds will be adequately protected against the risk of loss of Foreign Assets held in accordance with such contracts; B. That the Funds' Foreign Assets will not be subject to any right, charge, security interest, lien or claim of any kind in favor of the custodian or its creditors except a claim of payment for their safe custody or administration or, in the case of cash deposits, liens or rights in favor of creditors of the custodian arising under bankruptcy, insolvency, or similar laws; C. That beneficial ownership for the Funds' Foreign Assets will be freely transferable without the payment of money or value other than for safe custody or administration; D. That adequate records will be maintained identifying the Foreign Assets as belonging to a Fund or as being held by a third party for the benefit of the Fund; E. That each Fund's independent public accountants will be given access to those records or confirmation of the content of those records; and F. That a Fund will receive periodic reports with respect to the safekeeping of the Fund's Foreign Assets, including, but not limited to, notification of any transfer to or from the Fund's accounts or a third party account containing Foreign Assets held for the benefit of the Fund. In lieu of any or all of the provisions specified in a. through f. above, such contracts may contain such other provisions that AIM determines will provide, in their entirety, the same or a greater level of care and protection for Fund Foreign Assets as the specified provisions, in their entirety.

FOREIGN CUSTODY ARRANGEMENTS. Implementation of the Funds' foreign custody arrangements pursuant to written contracts, by the rules or established practices or 3 procedures of the Mandatory Securities Depository, or by any combination of the foregoing that AIM determines will provide reasonable care for the Funds' Foreign Assets based on the standards specified in paragraph A.2. above. Any such contracts shall include provisions that provide: A. For indemnification or insurance arrangements (or any combination of the foregoing) such that the Funds will be adequately protected against the risk of loss of Foreign Assets held in accordance with such contracts; B. That the Funds' Foreign Assets will not be subject to any right, charge, security interest, lien or claim of any kind in favor of the custodian or its creditors except a claim of payment for their safe custody or administration or, in the case of cash deposits, liens or rights in favor of creditors of the custodian arising under bankruptcy, insolvency, or similar laws; C. That beneficial ownership for the Funds' Foreign Assets will be freely transferable without the payment of money or value other than for safe custody or administration; D. That adequate records will be maintained identifying the Foreign Assets as belonging to a Fund or as being held by a third party for the benefit of the Fund; E. That each Fund's independent public accountants will be given access to those records or confirmation of the content of those records; and F. That a Fund will receive periodic reports with respect to the safekeeping of the Fund's Foreign Assets, including, but not limited to, notification of any transfer to or from the Fund's accounts or a third party account containing Foreign Assets held for the benefit of the Fund. In lieu of any or all of the provisions specified in a. through f. above, such contracts may contain such other provisions that AIM determines will provide, in their entirety, the same or a greater level of care and protection for Fund Foreign Assets as the specified provisions, in their entirety.