Common use of Income and Related Payments to Fund Clause in Contracts

Income and Related Payments to Fund. BBH&Co. shall instruct each Approved Borrower which is a party to an SLA to remit any payment in-lieu-of the interest or distribution declared on Loaned Securities (“Loan Substitute Payment”) that is (i) denominated in a currency other than U.S. dollars and (ii) denominated in U.S. dollars when the Loan Substitute Payment is not automatically distributed to the BBH&Co. depository account on behalf of the Fund by the applicable depository, and BBH&Co. shall receive, hold, and administer the same, for the account of the Fund. BBH&Co. also shall instruct each Approved Borrower that is a party to an SLA to remit any other fees payable on Loaned Securities to BBH&Co. for the account of the Fund, and BBH&Co. shall receive, hold, and administer the same for the account of the Fund. To the extent that the Fund instructs BBH&Co. to deliver said payments to a third party, the provisions of the Funds Transfer Standing Instruction (Schedule 8) shall apply.

Income and Related Payments to Fund. BBH&Co. shall instruct each Approved Borrower which is a party to an SLA to remit any payment in-lieu-of the interest or distribution declared on Loaned Securities loaned securities (“"Loan Substitute Payment”") that which is (i) denominated in a currency other than U.S. dollars and (ii) denominated in U.S. dollars when the Loan Substitute Payment is not automatically distributed to the BBH&Co. depository account on behalf in respect of the Fund by the applicable depository, and BBH&Co. shall receive, hold, hold and administer the same, for the account of the Fund. BBH&Co. shall also shall instruct each Approved Borrower that which is a party to an SLA to remit any other fees payable on Loaned Securities loaned securities to BBH&Co. for the account of the Fund, and BBH&Co. shall receive, hold, hold and administer the same for the account of the Fund. BBH&Co. will remit such payments and fees to the Fund in accordance with the Operational Procedures. To the extent that the Fund instructs BBH&Co. to deliver said such payments to a third party, the provisions of the Funds Transfer Standing Instruction (Schedule 8) 9) shall apply.

Income and Related Payments to Fund. BBH&Co. shall instruct each Approved Borrower which is a party to an SLA to remit any payment in-lieu-of the interest or distribution declared on Loaned Securities loaned securities (“"Loan Substitute Payment”") that which is (i) denominated in a currency other than U.S. dollars and (ii) denominated in U.S. dollars when the Loan Substitute Payment is not automatically distributed to the BBH&Co. depository account on behalf of the Fund by the applicable depository, and BBH&Co. shall receive, hold, hold and administer the same, for the account of the Fund. BBH&Co. shall also shall instruct each Approved Borrower that which is a party to an SLA to remit any other fees payable on Loaned Securities loaned securities to BBH&Co. for the account of the Fund, and BBH&Co. shall receive, hold, hold and administer the same for the account of the Fund. To the extent that the Fund instructs BBH&Co. BBH&CO to deliver said such payments to a third party, the provisions of the Funds Transfer Standing Instruction (Schedule 8) 9) shall apply.

Income and Related Payments to Fund. BBH&Co. shall instruct each Approved Borrower which is a party to an SLA to remit any payment in-lieu-of the interest or distribution declared on Loaned Securities loaned securities (“Loan Substitute Payment”) that which is (i) denominated in a currency other than U.S. dollars and (ii) denominated in U.S. dollars when the Loan Substitute Payment is not automatically distributed to the BBH&Co. depository account on behalf of the Fund by the applicable depository, and BBH&Co. shall receive, hold, hold and administer the same, for the account of the Fund. BBH&Co. shall also shall instruct each Approved Borrower that which is a party to an SLA to remit any other fees payable on Loaned Securities loaned securities to BBH&Co. for the account of the Fund, and BBH&Co. shall receive, hold, hold and administer the same for the account of the Fund. To the extent that the Fund instructs BBH&Co. BBH& Co. to deliver said such payments to a third party, the provisions of the Funds Transfer Standing Instruction (Schedule 8) shall apply.