Common use of MULTIPLE PORTFOLIOS Clause in Contracts

MULTIPLE PORTFOLIOS. 18.1 Each Portfolio will be regarded for all purposes hereunder as a separate party apart from each other Portfolio. Unless the context requires otherwise, with respect to every transaction covered hereby, every reference herein to Fund is deemed to relate solely to the particular Portfolio to which such transaction relates. Under no circumstances will the rights, obligations or remedies with respect to a particular Portfolio constitute a right, obligation or remedy applicable to any other Portfolio. The use of this single document to memorialize the separate agreement as to each Portfolio is understood to be for clerical convenience only and will not constitute any basis for joining the Portfolios for any reason. 18.2 In the event that the Fund establishes one or more series of Shares in addition to the Portfolios existing on the date hereof with respect to which it desires to have the Custodian render services as custodian under the terms hereof, it shall so notify the Custodian in writing, and if the Custodian agrees in writing to provide such services, such series of Shares shall become a Portfolio hereunder.

MULTIPLE PORTFOLIOS. 18.1 Each Portfolio will be regarded for all purposes hereunder as a separate party apart from each other Portfolio. Unless the context requires otherwise, with respect to every transaction covered hereby, every reference herein to Fund is deemed to relate solely to the particular Portfolio to which such transaction relates. Under no circumstances will the rights, obligations or remedies with respect to a particular Portfolio constitute a right, obligation or remedy applicable to any other Portfolio. The use of this single document to memorialize the separate agreement as to each Portfolio is understood to be for clerical convenience only and will not constitute any basis for joining the Portfolios for any reason. 18.2 In the event that the a Fund establishes one or more series of Shares in addition to the Portfolios existing on the date hereof with respect to which it desires to have the Custodian render services as custodian under the terms hereof, it shall so notify the Custodian in writing, and if the Custodian agrees in writing to provide such services, such series of Shares shall become a Portfolio hereunder.