Common use of Maintaining Assets with Eligible Foreign Custodians Clause in Contracts

Maintaining Assets with Eligible Foreign Custodians. In performing its delegated responsibilities as Foreign Custody Manager, Provider shall, in accordance with the requirements of Rule 17f-5 under the 1940 Act, place and maintain the Foreign Assets in the care of an Eligible Foreign Custodian selected, retained, monitored and used by Provider with the exercise of the required Standard of Care in each country which is listed in Schedule 2 (Eligible Foreign Jurisdictions). Provider may place or maintain Foreign Assets with an Eligible Foreign Custodian, provided that Provider determines that the Foreign Assets will be subject to the requirements specified in Rule 17f-5(c)(1) under the 1940 Act, including that the Foreign Assets will be subject to reasonable care, prudence and diligence based on the standards applicable to custodians in the country in which the Foreign Assets will be held by that Eligible Foreign Custodian, after considering all factors relevant to the safekeeping of such assets and in accordance with Section 3.7(a). Provider will undertake its duties as Foreign Custody Manager in accordance with the Standard of Care and in accordance with applicable Provider Laws and the 1940 Act.

Maintaining Assets with Eligible Foreign Custodians. In performing its delegated responsibilities as Foreign Custody Manager, Provider shall, in accordance with the requirements of Rule 17f-5 under the 1940 Act0000 Xxx, place xxxxx and maintain the Foreign Assets in the care of an Eligible Foreign Custodian selected, retained, monitored and used by Provider with the exercise of the required Standard of Care in each country which is listed in Schedule 2 (Eligible Foreign Jurisdictions). Provider may place or maintain Foreign Assets with an Eligible Foreign Custodian, provided that Provider determines that the Foreign Assets will be subject to the requirements specified in Rule 17f-5(c)(1) under the 1940 Act, including that the Foreign Assets will be subject to reasonable care, prudence and diligence based on the standards applicable to custodians in the country in which the Foreign Assets will be held by that Eligible Foreign Custodian, after considering all factors relevant to the safekeeping of such assets and in accordance with Section 3.7(a). Provider will undertake its duties as Foreign Custody Manager in accordance with the Standard of Care and in accordance with applicable Provider Laws and the 1940 Act.