Common use of Foreign Sub-custodians and Securities Depositories Clause in Contracts

Foreign Sub-custodians and Securities Depositories. Unless instructed otherwise by the Company, the Custodian may deposit and/or maintain non-U.S. Investments of the Company or its Funds in any non-U.S. Securities Depository provided such Securities Depository meets the requirements of an "eligible securities depository" under Rule 17f-7 promulgated under the 1940 Act, or any successor rule or regulation ("Rule 17f-7") or which by order of the SEC is exempted therefrom. Prior to the time that securities are placed with such depository, but subject to the provisions of Section 8.4 below, the Custodian shall have prepared or obtained from an Agent or Sub-custodian an assessment of the custody risks associated with maintaining assets with the Securities Depository and shall have established a system to monitor such risks on a continuing basis in accordance with Section 8.5. Additionally, the Custodian may, from time to time, appoint (a) any bank, trust company or other entity meeting the requirements of an “eligible foreign custodian” under Rule 17f-5 under the 1940 Act or which by order of the Securities and Exchange Commission is exempted therefrom, or (b) any bank as defined in Section 2(a)(5) of the 1940 Act meeting the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder, to act on behalf of the Company or its Funds as a Sub-custodian for purposes of holding Investments of the Company and/or its Funds outside the United States. Such appointment shall be subject to the Custodian and the “eligible foreign custodian” entering into a Rule 17f-5 Delegation Schedule attached as Appendix E to this Agreement.

Foreign Sub-custodians and Securities Depositories. Unless instructed otherwise by the Company, the Custodian may deposit and/or maintain non-U.S. Investments of the Company or its Funds in any non-U.S. Securities Depository provided such Securities Depository meets the requirements of an "“eligible securities depository" ” under Rule 17f-7 promulgated under the 1940 Act, or any successor rule or regulation ("“Rule 17f-7"”) or which by order of the SEC is exempted therefrom. Prior to the time that securities are placed with such depository, but subject to the provisions of Section 8.4 below, the Custodian shall have prepared or obtained from an Agent or Sub-custodian an assessment of the custody risks associated with maintaining assets with the Securities Depository and shall have established a system to monitor such risks on a continuing basis in accordance with Section 8.5. Additionally, the Custodian may, from time to time, appoint (a) any bank, trust company or other entity meeting the requirements of an “eligible foreign custodian” under Rule 17f-5 under the 1940 Act or which by order of the Securities and Exchange Commission is exempted therefrom, or (b) any bank as defined in Section 2(a)(5) of the 1940 Act meeting the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder, to act on behalf of the Company or its Funds as a Sub-custodian for purposes of holding Investments of the Company and/or its Funds outside the United States. Such appointment shall be subject to the Custodian and the “eligible foreign custodian” entering into a Rule 17f-5 Delegation Schedule attached as Appendix E to this Agreement.

Foreign Sub-custodians and Securities Depositories. Unless instructed otherwise by the Company, the Custodian may deposit and/or maintain non-U.S. Investments of the Company or its Funds in any non-U.S. Securities Depository provided such Securities Depository meets the requirements of an "eligible securities depository" under Rule 17f-7 promulgated under the 1940 Act, or any successor rule or regulation ("Rule 17f-7") or which by order of the SEC is exempted therefrom. Prior to the time that securities are placed with such depository, but subject to the provisions of Section 8.4 below, the Custodian shall have prepared or obtained from an Agent or Sub-custodian an assessment of the custody risks associated with maintaining assets with the Securities Depository and shall have established a system to monitor such risks on a continuing basis in accordance with Section 8.5. Additionally, the Custodian may, from time to time, appoint (a) any bank, trust company or other entity meeting the requirements of an “"eligible foreign custodian” " under Rule 17f-5 under the 1940 Act or which by order of the Securities and Exchange Commission is exempted therefrom, or (b) any bank as defined in Section 2(a)(5) of the 1940 Act meeting the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder, to act on behalf of the Company or its Funds as a Sub-custodian for purposes of holding Investments of the Company and/or its Funds outside the United States. Such appointment shall be subject to the Custodian and the “"eligible foreign custodian” " entering into a Rule 17f-5 Delegation Schedule attached as Appendix E to this Agreement.

Foreign Sub-custodians and Securities Depositories. Unless instructed otherwise by the CompanyTrust, the Custodian may deposit and/or maintain non-U.S. Investments of the Company or its Funds Fund in any non-U.S. Securities Depository provided such Securities Depository meets the requirements of an "“eligible securities depository" ” under Rule 17f-7 promulgated under the 1940 Act, or any successor rule or regulation ("“Rule 17f-7"”) or which by order of the SEC Securities and Exchange Commission is exempted therefrom. Prior to the time that securities are placed with such depository, but subject to the provisions of Section 8.4 below, the Custodian shall have prepared or obtained from an Agent or Sub-custodian an assessment of the custody risks associated with maintaining assets with the Securities Depository and shall have established a system to monitor such risks on a continuing basis in accordance with Section 8.5. Additionally, the Custodian may, from time to time, appoint (a) any bank, trust company or other entity meeting the requirements of an “eligible foreign custodian” under Rule 17f-5 under the 1940 Act or which by order of the Securities and Exchange Commission SEC is exempted therefrom, or (b) any bank as defined in Section 2(a)(5) of the 1940 Act meeting the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder, to act on behalf of the Company or its Funds Fund as a Sub-custodian for purposes of holding Investments of the Company and/or its Funds Fund outside the United States. Such appointment shall be subject to the Custodian and the “eligible foreign custodian” entering into a Rule 17f-5 Delegation Schedule attached as Appendix E to this Agreement.

Foreign Sub-custodians and Securities Depositories. Unless instructed otherwise by the Company, the Custodian may deposit and/or maintain non-U.S. Investments of the Company or its Funds in any non-U.S. Securities Depository provided such Securities Depository meets the requirements of an "eligible securities depository" under Rule 17f-7 promulgated under the 1940 Act, or any successor rule or regulation ("Rule 17f-7") or which by order of the SEC is exempted therefrom. Prior to the time that securities are placed with such depository, but subject to the provisions of Section 8.4 below, the Custodian shall have prepared or obtained from an Agent or Sub-custodian an assessment of the custody risks associated with maintaining assets with the Securities Depository and shall have established a system to monitor such risks on a continuing basis in accordance with Section 8.5. Additionally, the Custodian may, from time to time, appoint (a) any bank, trust company or other entity meeting the requirements of an “"eligible foreign custodian” " under Rule 17f-5 under the 1940 Act or which by order of the Securities and Exchange Commission is exempted therefrom, or (b) any bank as defined in Section 2(a)(5) of the 1940 Act meeting the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder, to act on behalf of the Company or its Funds as a Sub-custodian for purposes of holding Investments of the Company and/or its Funds outside the United States. Such appointment shall be subject to the Custodian and the “"eligible foreign custodian” " entering into a Rule 17f-5 Delegation Schedule attached as Appendix E to this Agreement.