Common use of FOREIGN SECURITIES SYSTEMS Clause in Contracts

FOREIGN SECURITIES SYSTEMS. Except as may otherwise be agreed upon in writing by the Custodian and the Fund, assets of a Portfolio shall be maintained in a clearing agency which acts as a securities depository or in a book-entry system for the central handling of securities located outside the United States (each, a "Foreign Securities System") only through arrangements implemented by the foreign banking institutions serving as sub-custodians pursuant to the terms hereof or through Foreign Securities Systems in which the Custodian is a direct participant (Foreign Securities Systems, together with U.S. Securities Systems, are collectively referred to herein as the "Securities Systems"). Where possible, such arrangements shall include entry into agreements containing the provisions set forth in Section 3.5 hereof.

FOREIGN SECURITIES SYSTEMS. Except as may otherwise be agreed upon in writing by the Custodian and the Fund, assets of a Portfolio the Portfolio(s) shall be maintained in a clearing agency which acts as or a securities depository or in a book-entry system for within the central handling meaning of securities located outside the United States Rule 17f-5(c)(2)(iii) and (each, iv) listed on Schedule A (each a "Foreign Securities Systemforeign securities system") only through arrangements implemented by the foreign banking institutions (as defined in Section 3.5 below) serving as sub-custodians pursuant to the terms hereof or through Foreign (foreign securities systems and U.S. Securities Systems in which the Custodian is a direct participant (Foreign Securities Systems, together with U.S. Securities Systems, are collectively referred to herein collectively as the "Securities Systems"). Where possiblepossible after reasonable efforts, such arrangements shall include entry into agreements containing the provisions set forth in Section 3.5 hereof.