Holding Assets. The Custodian may hold securities and other non-cash property for all of its customers, including the Fund, with a foreign sub-custodian in a single account that is identified as belonging to the Custodian for the benefit of its customers, provided, however, that (i) the records of the Custodian with respect to securities and other non-cash property of a Portfolio which are maintained in such account shall identify by book-entry those securities and other non-cash property belonging to the Portfolio and (ii) the Custodian shall require that securities and other non-cash property so held by the foreign sub-custodian be held separately from any assets of the foreign sub-custodian or of others who are not customers of the Custodian. The Custodian shall hold foreign currency and other cash property for a Portfolio with foreign sub-custodians in an account in the name of the Custodian, for the benefit of its customers, which account shall be interest bearing in jurisdictions in which the Custodian, in accordance with its customary practices, holds the cash of customers that are investment companies in interest-bearing accounts.
Holding Assets. (a) Except for Domestic Securities deposited and maintained in a Securities System pursuant to paragraph (b) of this Section 2.1, the Custodian shall hold all Domestic Securities physically segregated at all times from those of any other person or persons and shall xxxx such Securities in such manner as to clearly identify them as the property of the Fund.
(b) The Custodian may deposit and maintain Domestic Securities in a clearing agency registered with the Securities and Exchange Commission under Section 17A of the Securities Exchange Act of 1934 (the "Exchange Act"), which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and the Board of Governors (the "Federal Reserve Board") of the Federal Reserve System (collectively, the "Securities System") in accordance with applicable rules and regulations of the Federal Reserve Board and the Securities and Exchange Commission. The Domestic Securities will be represented in an account of the Custodian ("Account") in the Securities System, which shall include only those assets which the Custodian shall hold in its capacity as a fiduciary or otherwise for customers, and the Domestic Securities shall be identified by book-entry in the records of the Custodian as belonging to the Fund. The Fund will provide to the Custodian, as required by Rule 17f-4 (d) (5) promulgated under the 1940 Act, (i) prior to the deposit of Domestic Securities in the Securities System, Proper Instructions (as defined in Article 4 hereof) that the Individual Managing Members of the Fund (as defined in the Fund's Limited Liability Agreement dated as of April 22, 2002 (the "LLC Agreement") have approved the initial use of a particular Securities System, and (ii) annually, a certificate of an Individual Managing Member that the Individual Managing Member has reviewed the use of the Fund of such Securities System.
(c) The Custodian shall upon receipt of Proper Instructions establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash or Domestic Securities, including Domestic Securities maintained by the Custodian in an Account with the Securities System (i) in accordance with the provisions of any agreement between the Fund, the Custodian, any other broker-dealer registered under the Exchange Act and a member of the National Association of Securities Dealers, Inc. ("NASD") or any futures commission mercha...
Holding Assets. The Custodian will hold Assets of the Client delivered or credited to its account under this Agreement directly or through accounts at Subcustodians or CSDs. In turn, Subcustodians will hold Assets directly or through accounts at CSDs. For purposes of this Agreement, the term “Assets” shall include Securities, Alternative Assets, monies, and other property held by the Custodian for the benefit of the Client.
Holding Assets. The Custodian shall hold and physically segregate in a custodial account all Plan Assets. The Custodian shall, upon receipt of Proper Instructions, further segregate Plan Assets in sub-accounts accordance with such Proper Instructions.
