Common use of Income Collection; Autocredit Clause in Contracts

Income Collection; Autocredit. (a) The Bank will monitor information publicly available in the applicable market about forthcoming income payments on the Financial Assets held in the Securities Account, and will promptly notify the Customer of such information. (b) Bank will credit the Cash Account with income and redemption proceeds on Financial Assets on the anticipated payment date, net of any taxes that are withheld by Bank or any third party (“AutoCredit”) for those Financial Assets and/or markets for which Bank customarily offers an AutoCredit service. However, Bank reserves right to restrict in good faith the availability of AutoCredit for credit or operational reasons. Upon request, Bank shall provide Customer with a list of AutoCredit markets. Bank may add markets or remove markets from the list of AutoCredit markets upon notice to the Customer that is reasonable in the circumstances. Bank may reverse such credits upon oral or written notification to Customer that Bank believes that the corresponding payment will not be received by Bank within a reasonable period or such credit was incorrect. (c) When the AutoCredit service is not available, income on Financial Assets, net of any taxes withheld by the Bank or any third party, will be credited only after actual receipt and reconciliation by the Bank. (d) Bank will make good faith efforts to timely contact appropriate parties to collect unpaid interest, dividends, or redemption proceeds, but neither Bank nor its Subcustodians will be obliged to file any formal notice of default, institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.

Income Collection; Autocredit. (a) The Bank will monitor information publicly available in the applicable market about forthcoming income payments on the Financial Assets held in the Securities AccountSecurities, and will promptly notify the Customer applicable Fund and the Investment Manager of such information. (b) Unless the applicable Fund or the Investment Manager is notified otherwise, the Bank will credit the Cash Account with income and redemption proceeds on Financial Assets Securities on the anticipated payment date, net of any taxes that are withheld by the Bank or any third party (“"AutoCredit”") for in those Financial Assets and/or markets for which where the Bank customarily offers provides an AutoCredit service. However, Bank reserves right to restrict in good faith the availability of AutoCredit for credit or operational reasons. Upon request, the Bank shall provide Customer the applicable Fund and the Investment Manager with a list of AutoCredit eligible markets. The Bank may add markets to or remove markets from the list of AutoCredit markets upon notice to the Customer applicable Fund and the Investment Manager that is reasonable in the circumstances. The Bank may reverse such AutoCredit credits upon oral or written notification to Customer that the applicable Fund and the Investment Manager if the Bank believes that the corresponding payment will not be received by the Bank within a reasonable period or such the credit was incorrect. (c) When In markets where the Bank does not provide an AutoCredit service is not availableservice, income on Financial AssetsSecurities, net of any taxes withheld by the Bank or any third party, will be credited only after actual receipt and reconciliation by the Bank. (d) The Bank will make good faith use reasonable efforts to timely contact appropriate parties to collect unpaid interest, dividends, dividends or redemption proceedsproceeds and notify the applicable Fund and the Investment Manager of the late payment, but neither the Bank nor its Subcustodians will be obliged to file any formal notice of default, institute legal proceedings, file a proof of claim in any insolvency proceeding, proceeding or take any similar action.

Income Collection; Autocredit. (a) The Bank will monitor information publicly available in the applicable market about forthcoming income payments on the Financial Assets held in the Securities Account, and will promptly notify the Customer of such information. (b) Bank will credit the Cash Account with income and redemption proceeds on Financial Assets on the anticipated payment date, net of any taxes that are withheld by Bank or any third party (“AutoCredit”) for those Financial Assets and/or markets for which Bank customarily offers an AutoCredit service. However, Bank reserves the right to restrict in good faith the availability of AutoCredit for credit or operational reasons. Upon request, Bank shall provide Customer with a list of AutoCredit markets. Bank may add markets or remove markets from the list of AutoCredit markets upon commercially reasonable notice to the Customer that is reasonable in the circumstancesCustomer. Bank may reverse such credits upon oral or written notification to Customer that Bank believes that the corresponding payment will not be received by Bank within a reasonable period or such credit was incorrect. (c) When the AutoCredit service is not available, income on Financial Assets, net of any taxes withheld by the Bank or any third party, will be credited only after actual receipt and reconciliation by the Bank. (d) Bank will make good faith efforts to timely contact appropriate parties to collect unpaid interest, dividends, or redemption proceeds, but neither Bank nor its Subcustodians will be obliged to file any formal notice of default, institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.