Common use of Obligation of Sender Clause in Contracts

Obligation of Sender. The Transfer Agent is authorized to promptly debit the appropriate Fund account(s) upon the receipt of a payment order in compliance with the selected security procedure (the “Security Procedure”) chosen for funds transfer in the Funds Transfer Operating Agreement Addendum (“Funds Transfer Addendum”) to the Custody and Investment Accounting Agreement between State Street and the Trust dated June 1, 2001, as may be amended from time to time, and in the amount of money that the Transfer Agent has been instructed to transfer. The Transfer Agent shall execute payment orders in compliance with the Security Procedure and with the Trust’s instructions on the execution date, provided that such payment order is received by the customary deadline for processing such a request, unless the payment order specifies a later time. All payment orders and communications received after the customary deadline will be deemed to have been received the next business day.

Obligation of Sender. The Transfer Agent is authorized to promptly debit the appropriate Fund Trust account(s) upon the receipt of a payment order in compliance with the selected security procedure (the “Security Procedure”) chosen for funds transfer in the Funds Transfer Operating Agreement Addendum (“Funds Transfer Addendum”) to the Custody and Investment Accounting Agreement that certain custody contract of even date herewith between State Street Bank and Trust Company and the Trust dated June 1, 2001Trusts, as may be amended from time to timetime (the “Custody Contract”), and in the amount of money that the Transfer Agent has been instructed to transfer. The Transfer Agent shall execute payment orders in compliance with the Security Procedure and with the each Trust’s instructions on the execution date, provided that such payment order is received by the customary deadline for processing such a request, unless the payment order specifies a later time. All payment orders and communications received after the customary deadline will be deemed to have been received the next business day.