Common use of Fund Custody Accounts Clause in Contracts

Fund Custody Accounts. The Custodian shall open and maintain in its trust department a custody account in the name of the Fund, subject only to draft or order of the Custodian, in which the Custodian shall enter and carry all Fund Assets (other than Loans) of such Fund which are delivered to it and any cash accounts, including any subaccounts, in the name of the Fund coupled with the name of the Fund, subject only to draft or order of the Custodian, in which the Custodian shall enter and carry all principal and interest received with respect to Loans. The amounts held in the cash accounts shall be transferred into the respective Fund’s custody account on a daily basis. For avoidance of doubt, the Custodian shall not be required to credit or deposit Loans in the custody account but shall instead maintain a register (in book-entry form or in such other form as it shall deem necessary or desirable) of such Loans, containing such information as the Fund and the Custodian may reasonably agree; provided that, with respect to such Loans, all Required Loan Documents shall be held in the custody and safekeeping of the Custodian, individually segregated from the securities and investments of any other person and marked so as to clearly identify them as the property of the Fund as set forth in this Agreement.

Fund Custody Accounts. The Custodian shall open and maintain in its trust department a custody account in the name of the Fund, subject only to draft or order of the Custodian, in which the Custodian shall enter and carry all Fund Assets (other than Loans) of such Fund which are delivered to it and any cash accounts, including any subaccounts, in the name of the Fund coupled with the name of the Fund, subject only to draft or order of the Custodian, in which the Custodian shall enter and carry all principal and interest received with respect to Loans. The amounts held in the cash accounts shall be transferred into the respective Fund’s custody account on a daily basis. For avoidance of doubt, the Custodian shall not be required to credit or deposit Loans in the custody account but shall instead maintain a register (in book-entry form or in such other form as it shall deem necessary or desirable) of such Loans, containing such information as the Fund and the Custodian may reasonably agree; provided that, with respect to such Loans, all Required Loan Documents shall be held in the custody and safekeeping of the Custodian, individually segregated from the securities and investments of any other person and marked so as to clearly identify them as the property of the Fund as set forth in this Agreement.,