Fund Custody and Cash Accounts. As to each Fund, the Custodian shall open and maintain in its trust department: (x) a custody account in the name of the Trust 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 Securities (other than Loans), cash and other assets of such Fund which are delivered to it and (y) cash accounts, including any subaccounts, in the name of the Trust 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 the Loans. The amounts held in the cash accounts shall be transferred in the respective Fund’s custody account on a daily basis.
Fund Custody and Cash Accounts. The Custodian shall open and maintain in its fund custody department: (x) a custody account 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 Securities (other than Loans), cash and other assets of the Fund which are delivered to it and (y) cash accounts, including any subaccounts, in 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 the Loans. The amounts held in the cash 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. The Custodian shall be authorized to open such additional accounts as may be necessary or convenient for administration of its duties hereunder.
Fund Custody and Cash Accounts. The Custodian shall open and maintain in its trust department: (x) 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 Securities (other than Loans), cash and other assets of such Fund which are delivered to it and (y) cash accounts, including any subaccounts, in 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 the Loans. The amounts held in the cash accounts shall be transferred in the respective Fund’s custody account on a daily basis.
Fund Custody and Cash Accounts. The Custodian shall open and maintain in its trust department: (x) 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 the Fund which are delivered to it and (y) cash accounts, including any subaccounts, in 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 the Loans. The amounts held in the cash accounts shall be transferred in the 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 and Cash Accounts. As to each Fund, the Custodian shall open and maintain in its trust department: (x) a custody account in the name of the Company 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 Securities (other than Loans), cash and other assets of such Fund which are delivered to it and (y) cash accounts, including any subaccounts, in the name of the Company 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 the Loans. The amounts held in the cash accounts shall be transferred in the respective Fund’s custody account on a daily basis. Absent a written agreement between the Custodian and the Company, securities and cash held by the Custodian shall not be re-hypothecated, pledged, assigned, invested or otherwise disposed of by the Custodian and beneficial ownership shall be freely transferable without payment of money or value other than for safe custody and administration.
Fund Custody and Cash Accounts. As to each Fund, the Custodian shall open and maintain in its trust department: (x) a custody account in the name of the Trust 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 Securities, cash and other assets of such Fund which are delivered to it; (y) cash accounts, including any subaccounts, in the name of the Trust coupled with the name of the Fund; and (z) a register (in book-entry form or in such other form as it shall deem necessary or desirable) of CCAs, containing such information as the Fund and the Custodian may reasonably agree. The Custodian shall be authorized to open such additional accounts as may be necessary or convenient for administration of its duties hereunder. With respect to CCAs, the Custodian shall serve as Primary Account Representative on behalf of the Fund in CITSS. Auctions. Upon the completion of any auction in which the Fund has purchased CCAs, the Custodian, as Primary Account Representative, will receive the Financial Statement generated by the Auction Platform (to be provided by an Authorized Person alongside Proper Instructions) as confirmation of the Fund’s successful bids and, pursuant to Proper Instruction and the Financial Statement, will release only the cash required to complete financial settlement for the CCAs purchased by the Fund in the auction. The Custodian will take physical custody of the Financial Statement, as well as the Client Bid Report and Client Bids Audit Report generated by the Auction Platform and provided to the Custodian, and shall keep such documents vaulted in custody.
Fund Custody and Cash Accounts. The Custodian shall open and maintain in its trust department: (x) 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 of the Fund which are delivered to it and (y) cash accounts, including any subaccounts, in the name of the Fund.
Fund Custody and Cash Accounts. The Custodian shall open and maintain in its fund custody department: (x) 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 Securities (other than Loans), cash and other assets of the Fund which are delivered to it and (y) cash accounts, including any subaccounts, in 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 the Loans. For the avoidance of doubt, with respect to Loans, the Custodian shall not be required to credit or deposit Loans in the custody account or cash accounts, but records with respect to such Loans and any principal and interest received thereon will instead be maintained in 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. The Custodian shall be authorized to open such additional accounts as may be necessary or convenient for administration of its duties hereunder. In addition, the Custodian shall be authorized to perform any duty or obligation hereunder with respect to the administration of the Loans through its Affiliate, U.S. Bank Trust Company, National Association and in so performing such Affiliate will have all of the rights, protections, immunities and indemnitees afforded to the Custodian hereunder.
