Common use of GUIDELINES FOR THE EXERCISE OF DELEGATED AUTHORITY Clause in Contracts

GUIDELINES FOR THE EXERCISE OF DELEGATED AUTHORITY. For purposes of this Article 3, the Fund shall be deemed to have considered and determined to accept such Country Risk as is incurred by placing and maintaining the Foreign Assets in each country for which the Custodian is serving as Foreign Custody Manager of a Portfolio, and the Fund's investment advisor (or a delegate thereof) shall be deemed to be monitoring on a continuing basis such Country Risk to the extent that the Board considers necessary or appropriate. The Fund, on behalf of the Portfolios, and the Custodian each expressly acknowledge that the Foreign Custody Manager shall not be delegated any responsibilities under this Article 3 with respect to Mandatory Securities Depositories.

GUIDELINES FOR THE EXERCISE OF DELEGATED AUTHORITY. For purposes of this Article 3, the Fund Board of Directors shall be deemed to have considered and determined to accept such Country Risk as is incurred by placing and maintaining the Foreign Assets in each country for which the Custodian is serving as Foreign Custody Manager of a Portfoliothe Portfolios. The Fund, on behalf of the Portfolios, and the Fund's investment advisor (or a delegate thereof) Board of Directors shall be deemed to be monitoring on a continuing basis such Country Risk to the extent that the Board of Directors considers necessary or appropriate. The Fund, on behalf of the Portfolios, Fund and the Custodian each expressly acknowledge that the Foreign Custody Manager shall not be delegated any responsibilities under this Article 3 with respect to Mandatory Securities Depositories.

GUIDELINES FOR THE EXERCISE OF DELEGATED AUTHORITY. For purposes The Fund, on behalf of the Portfolios, and the Custodian each expressly acknowledge (i) that the Foreign Custody Manager shall not be delegated any responsibilities under this Article 3, 3 with respect to Mandatory Securities Depositories; and (ii) the Fund Custodian shall not be deemed to have considered delegated and determined to does not accept such Country Risk as is incurred by placing and maintaining the Foreign Assets in each country for which the Custodian is serving as Foreign Custody Manager of a Portfolio, and the Fund's investment advisor (or a delegate thereof) shall be deemed to be monitoring on a continuing basis such Country Risk to the extent that the Board considers necessary or appropriate. The Fund, on behalf of the Portfolios, and the Custodian each expressly acknowledge that the Foreign Custody Manager shall not be delegated any responsibilities under this Article 3 with respect to Mandatory Securities DepositoriesPortfolio .

GUIDELINES FOR THE EXERCISE OF DELEGATED AUTHORITY. For purposes of this Article 3, the Fund Board of Trustees shall be deemed to have considered and determined to accept such Country Risk as is incurred by placing and maintaining the Foreign Assets in each country for which the Custodian is serving as Foreign Custody Manager of a Portfoliothe Portfolios. The Fund, on behalf of the Portfolios, and the Fund's investment advisor (or a delegate thereof) Board of Trustees shall be deemed to be monitoring on a continuing basis such Country Risk to the extent that the Board of Trustees considers necessary or appropriate. The Fund, on behalf of the Portfolios, Fund and the Custodian each expressly acknowledge that the Foreign Custody Manager shall not be delegated any responsibilities under this Article 3 with respect to Mandatory Securities Depositories.

GUIDELINES FOR THE EXERCISE OF DELEGATED AUTHORITY. For purposes of The Fund and the Custodian each expressly acknowledge (i) that the Foreign Custody Manager shall not be delegated any responsibilities under this Article 3, 3 with respect to Mandatory Securities Depositories; and (ii) the Fund Custodian shall not be deemed to have considered delegated and determined to does not accept such Country Risk as is incurred by placing and maintaining the Foreign Assets in each country for which the Custodian is serving as Foreign Custody Manager of a Portfolio, and the Fund's investment advisor (or a delegate thereof) shall be deemed to be monitoring on a continuing basis such Country Risk to the extent that the Board considers necessary or appropriate. The Fund, on behalf of the Portfolios, and the Custodian each expressly acknowledge that the Foreign Custody Manager shall not be delegated any responsibilities under this Article 3 with respect to Mandatory Securities DepositoriesFund .

GUIDELINES FOR THE EXERCISE OF DELEGATED AUTHORITY. For purposes of The Fund and the Custodian each expressly acknowledge (i) that the Foreign Custody Manager shall not be delegated any responsibilities under this Article 3, 3 with respect to Mandatory Securities Depositories; and (ii) the Fund Custodian shall not be deemed to have considered delegated and determined to does not accept such Country Risk as is incurred by placing and maintaining the Foreign Assets in each country for which the Custodian is serving as Foreign Custody Manager of a Portfolio, and the Fund's investment advisor (or a delegate thereof) shall be deemed to be monitoring on a continuing basis such Country Risk to the extent that the Board considers necessary or appropriate. The Fund, on behalf of the Portfolios, and the Custodian each expressly acknowledge that the Foreign Custody Manager shall not be delegated any responsibilities under this Article 3 with respect to Mandatory Securities Depositories.