Common use of Income of Assets Clause in Contracts

Income of Assets. (a) Agent shall take all steps necessary to collect the dividends, interest and other income on the Assets and shall credit said income on payable date to the appropriate account designated by Owner from time to time in Clearinghouse or Available Funds as determined by the Assets. All income credited to Owner's account shall be promptly reinvested or distributed to Owner in accordance with Owner's Instructions given from time to time. (b) Unless otherwise instructed in writing, Agent shall retain in the appropriate account of Owner any stock dividends, subscription rights and other non-cash distributions on the Assets, or the proceeds from the sale of any distributions. Agent shall notify Owner upon the receipt of any such non-cash item. (c) Agent or its Nominee is hereby authorized to sign any declarations, endorsements, affidavits, certificates of ownership or other documents which may be required with respect to all coupons, registered interest, dividends or other income on the Assets.

Income of Assets. (a) Agent Bank shall take all steps necessary to collect the dividends, interest and other income on the Assets and shall credit said income on payable date to the appropriate account designated by Owner Fund from time to time in Clearinghouse or Available Funds as determined by the Assets. All income credited to OwnerFund's account shall be promptly reinvested or distributed to Owner Fund in accordance with OwnerFund's Instructions given from time to time. (b) Unless otherwise instructed in writing, Agent Bank shall retain in the appropriate account of Owner Fund any stock dividends, subscription rights and other non-cash distributions on the Assets, or the proceeds from the sale of any distributions. Agent Bank shall notify Owner Fund upon the receipt of any such non-cash item. (c) Agent Bank or its Nominee is hereby authorized to sign any declarations, endorsements, affidavits, certificates of ownership or other documents which may be required with respect to all coupons, registered interest, dividends or other income on the Assets.

Income of Assets. (a) Agent shall take all steps necessary to collect the dividends, interest and other income on the Assets and shall credit said income on payable date to the appropriate account designated by Owner from time to time in Clearinghouse or Available Funds as determined by the Assets. All income credited to Owner's account shall be promptly reinvested or distributed to Owner in accordance with Owner's Instructions given from time to time. (b) Unless otherwise instructed Instructed in writing, Agent shall retain in the appropriate account of Owner any stock dividends, subscription rights and other non-cash distributions on the Assets, or the proceeds from the sale of any distributions. Agent shall notify Owner upon the receipt of any such non-cash item. (c) Agent or its Nominee is hereby authorized to sign any declarations, endorsements, affidavits, certificates of ownership or other documents which may be required with respect to all coupons, registered interest, dividends or other income on the Assets.

Income of Assets. (a) Agent shall take all steps necessary to ---------------- collect the dividends, interest and other income on the Assets and shall credit said income on payable date to the appropriate account designated by Owner from time to time in Clearinghouse or Available Funds as determined by the Assets. All income credited to Owner's account shall be promptly reinvested or distributed to Owner in accordance with Owner's Instructions given from time to time. (b) Unless otherwise instructed Instructed in writing, Agent shall retain in the appropriate account of Owner any stock dividends, subscription rights and other non-cash distributions on the Assets, or the proceeds from the sale of any distributions. Agent shall notify Owner upon the receipt of any such non-cash item. (c) Agent or its Nominee is hereby authorized to sign any declarations, endorsements, affidavits, certificates of ownership or other documents which may be required with respect to all coupons, registered interest, dividends or other income on the Assets.