Common use of HOLDING INVESTMENTS Clause in Contracts

HOLDING INVESTMENTS. The Custodian shall hold and segregate for ------------------- the account of the Partnership all non-cash property, to be held by it in the United States, including all domestic investments owned by the Partnership, other than (a) investments which are maintained pursuant to Section 2.8 in a clearing agency which acts as a securities depository or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies (each, a "U.S. Securities System") and (b) commercial paper of an issuer for which the Custodian acts as issuing and paying agent ("Direct Paper") which is deposited and/or maintained in the Direct Paper System of the Custodian (the "Direct Paper System") pursuant to Section 2.9.

HOLDING INVESTMENTS. The Custodian shall hold and physically segregate for ------------------- the account of the Partnership each Portfolio all non-cash property, to be held by it in the United States, States including all domestic investments securities owned by the Partnershipsuch Portfolio, other than (a) investments securities which are maintained pursuant to Section 2.8 2.10 in a clearing agency which acts as a securities depository or in the a book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies agencies, (each, a "U.S. Securities System") and (b) commercial paper of an issuer for which the Custodian State Street Bank and Trust Company acts as issuing and paying agent ("Direct Paper") which is deposited and/or maintained in the Direct Paper System of the Custodian (the "Direct Paper System") pursuant to Section 2.92.11.

HOLDING INVESTMENTS. The Custodian shall hold and segregate for ------------------- the account ac(ount of the Partnership Portfolio all non-cash property, to be held by it in the United States, including all domestic investments owned by the PartnershipPortfolio, other than (a) investments which are maintained pursuant to Section 2.8 2.9 in a clearing agency which acts as a securities depository or in the a book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies (each, collectively referred to herein as a "U.S. Securities System"Systemil) and (b) commercial paper of an issuer for which the Custodian acts as issuing and paying agent ("Direct Paper") which is deposited and/or maintained in the Direct Paper System of the Custodian (the "Direct Paper System") pursuant to Section 2.92.10.