Common use of Holding Assets Clause in Contracts

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.