Common use of OPENING AND MAINTAINING CASH ACCOUNTS Clause in Contracts

OPENING AND MAINTAINING CASH ACCOUNTS. Subject to the terms and conditions set forth in this Section 5, the Fund hereby authorizes the Custodian to open and maintain, with itself or with Subcustodians, cash accounts in United States Dollars and in such other currencies as the Fund shall from time to time request or as are in the Custodian's discretion required in order for the Custodian to carry out the terms of this Agreement. The Custodian shall make payments from or deposits to any of said accounts upon its receipt of Proper Instructions from the Fund providing sufficient details to effect such transaction. Cash accounts opened on the books of the Custodian ("BBH Accounts") shall be opened in the name of the Fund. Subject always to the provisions of Section 10 hereof, the Custodian shall be liable for repayment of any and all deposits carried on its books as principal, whether denominated in United States Dollars or in other currencies. Cash accounts opened on the books of Subcustodians appointed pursuant to Section 7 hereof may be opened in the name of the Fund or the Custodian or in the name of the Custodian for its customers generally ("Agency Accounts"). Such deposits shall be treated as portfolio securities, and accordingly the Custodian shall be responsible for the exercise of reasonable care in respect of the administration of such Agency Accounts but shall not be liable for their repayment in the event the Subcustodian fails to make repayment (including in the event of the Subcustodian's bankruptcy or insolvency). Both BBH Accounts and Agency Accounts shall be subject to the provisions of Sections 9 and 10 of this Agreement. The Fund bears all risks of holding or transacting in any currency. Any credit made to any Agency or BBH Account shall be provisional and may be reversed by the Custodian in the event such payment is not actually collected. The Custodian shall not be liable for any loss or damage arising from the applicability of any law or regulation now or hereafter in effect, or from the occurrence of any event, which may delay or affect the transferability, convertibility or availability of any currency in the country (i) in which such BBH or Agency Accounts are maintained or (ii) in which such currency is issued, and in no event shall the Custodian be obligated to make payment of a deposit denominated in a currency during the period during which its transferability, convertibility or availability has been affected by any such law, regulation or event. Without limiting the generality of the foregoing, neither the Custodian nor any Subcustodian shall be required to repay any deposit made at a foreign branch of either the Custodian or Subcustodian if such branch cannot repay the deposit due to (i) an act of war, insurrection or civil strife; or (ii) an action by a foreign government or instrumentality, whether de jure or de facto, in the country in which the branch is located preventing such repayment, unless the Custodian or such Subcustodian expressly agrees in writing to repay the deposit under such circumstances. All currency transactions in any account opened pursuant to this Agreement are subject to exchange control regulations of the United States and of the country where such currency is the lawful currency or where the account is maintained. Any taxes, costs, charges or fees imposed on the convertibility of a currency held by the Fund shall be for the account of the Fund.

OPENING AND MAINTAINING CASH ACCOUNTS. Subject to the terms and conditions set forth in this Section 5, the Fund hereby authorizes the Custodian to open and maintain, with itself or with Subcustodians, cash accounts in United States Dollars and in such other currencies as the Fund shall from time to time request or as are in the Custodian's discretion required in order for the Custodian to carry out the terms of this Agreement. The Custodian shall make payments from or deposits to any of said accounts upon its receipt of Proper Instructions from the Fund providing sufficient details to effect such transaction. Cash accounts opened on the books of the Custodian ("BBH Accounts") shall be opened in the name of the Fund. Subject always to the provisions of Section 10 hereof, the Custodian shall be liable for repayment of any and all deposits carried on its books as principal, whether denominated in United States Dollars or in other currencies. Cash accounts opened on the books of Subcustodians appointed pursuant to Section 7 hereof may be opened in the name of the Fund or the Custodian or in the name of the Custodian for its customers generally ("Agency Accounts"). Such deposits shall be treated as portfolio securities, and accordingly the Custodian shall be responsible for the exercise of reasonable care in respect of the administration of such Agency Accounts but shall not be liable for their repayment in the event the Subcustodian fails to make repayment (including in the event of the Subcustodian's bankruptcy or insolvency). Both BBH Accounts and Agency Accounts shall be subject to have the benefit of the provisions of Sections 9 and Section 10 of this Agreement. The Fund bears all risks of holding or transacting in any currency. Any credit made to any Agency or BBH Account shall be provisional and may be reversed by the Custodian in the event such payment is not actually collected. The Custodian shall not be liable for any loss or damage arising from the applicability of any law or regulation now or hereafter in effect, or from the occurrence of any event, which may delay or affect the transferability, convertibility or availability of any currency in the country (i) in which such BBH or Agency Accounts are maintained or (ii) in which such currency is issued, and in no event shall the Custodian be obligated to make payment of a deposit denominated in a currency during the period during which its transferability, convertibility or availability has been affected by any such law, regulation or event. Without limiting the generality of the foregoing, neither the Custodian nor any Subcustodian shall be required to repay any deposit made at a foreign branch of either the Custodian or Subcustodian if such branch cannot repay the deposit due to (i) an act of war, insurrection or civil strife; or (ii) an action by a foreign government or instrumentality, whether de jure or de facto, in the country in which the branch is located preventing such repayment, unless the Custodian or such Subcustodian expressly agrees in writing to repay the deposit under such circumstances. All currency transactions in any account opened pursuant to this Agreement are subject to exchange control regulations of the United States and of the country where such currency is the lawful currency or where the account is maintained. Any taxes, costs, charges or fees imposed on the convertibility of a currency held by the Fund shall be for the account of the Fund.

OPENING AND MAINTAINING CASH ACCOUNTS. Subject to the terms and conditions set forth in this Section 5, the Fund on behalf of the Portfolio, hereby authorizes the Custodian to open and maintain, with itself or with Subcustodians, cash accounts in United States Dollars and in such other currencies as the Fund shall from time to time request or as are in the Custodian's discretion required in order for the Custodian to carry out the terms of this Agreement. The Custodian shall make payments from or deposits to any of said accounts upon its receipt of Proper Instructions from the Fund providing sufficient details to effect such transaction. Cash accounts opened on the books of the Custodian ("BBH Accounts") shall be opened in the name of the FundFund on behalf of the Portfolio. Subject always to the provisions of Section 10 hereof, the Custodian shall be liable for repayment of any and all deposits carried on its books as principal, whether denominated in United States Dollars or in other currencies. Cash accounts opened on the books of Subcustodians appointed pursuant to Section 7 hereof may be opened in the name of the Fund Portfolio or the Custodian or in the name of the Custodian for its customers generally ("Agency Accounts"). Such deposits shall be treated as portfolio securities, and accordingly the Custodian shall be responsible for the exercise of reasonable care in respect of the administration of such Agency Accounts but so long as the Custodian exercises reasonable care as herein defined in attempting to obtain repayments, the Custodian shall not be liable for their repayment in the event the Subcustodian fails to make repayment (including in the event of the Subcustodian's bankruptcy or insolvency). Both BBH Accounts and Agency Accounts shall be subject to have the benefit of the provisions of Sections 9 and Section 10 of this Agreement. The Fund bears all risks of holding or transacting in any currency. Any credit made to any Agency or BBH Account shall be provisional and may be reversed by the Custodian in the event such payment is not actually collected. The Custodian shall not be liable for any loss or damage arising from the applicability of any law or regulation now or hereafter in effect, or from the occurrence of any event, which may delay or affect the transferability, convertibility or availability of any currency in the country (i) in which such BBH or Agency Accounts are maintained or (ii) in which such currency is issued, and in no event shall the Custodian be obligated to make payment of a deposit denominated in a currency during the period during which its transferability, convertibility or availability has been affected by any such law, regulation or event. Without limiting the generality of the foregoing, neither the Custodian nor any Subcustodian shall be required to repay any deposit made at a foreign branch of either the Custodian or Subcustodian if during such time as such branch cannot repay the deposit due to (i) an act of war[EU3]war, insurrection or civil strife; or (ii) an action by a foreign government or instrumentality, whether de jure or de facto, in the country in which the branch is located preventing such repayment, unless the Custodian or such Subcustodian expressly agrees in writing to repay the deposit under such circumstances. All currency transactions in any account opened pursuant to this Agreement are subject to exchange control regulations of the United States and of the country where such currency is the lawful currency or where the account is maintained. Any taxes, costs, charges or fees imposed on the convertibility of a currency held by the Fund Portfolio shall be for the account of the FundPortfolio.

OPENING AND MAINTAINING CASH ACCOUNTS. Subject to the terms and conditions set forth in this Section 5, the Fund hereby authorizes the Custodian to open and maintain, with itself or with Subcustodians, cash accounts in United States Dollars and in such other currencies as the Fund shall from time to time request or as are in the Custodian's discretion required in order for the Custodian to carry out the terms of this Agreement. The Custodian shall make payments from or deposits to any of said accounts upon its receipt of Proper Instructions from the Fund providing sufficient details to effect such transaction. Cash accounts opened on the books of the Custodian ("BBH [ ] Accounts") shall be opened in the name of the Fund. Subject always to the provisions of Section 10 hereof, the Custodian shall be liable for repayment of any and all deposits carried on its books as principal, whether denominated in United States Dollars or in other currencies. Cash accounts opened on the books of Subcustodians appointed pursuant to Section 7 hereof may be opened in the name of the Fund or the Custodian or in the name of the Custodian for its customers generally ("Agency Accounts"). Such deposits shall be treated as portfolio securities, and accordingly the Custodian shall be responsible for the exercise of reasonable care in respect of the administration of such Agency Accounts but shall not be liable for their repayment in the event the Subcustodian fails to make repayment (including in the event of the Subcustodian's bankruptcy or insolvency). Both BBH [ ] Accounts and Agency Accounts shall be subject to have the benefit of the provisions of Sections 9 and Section 10 of this Agreement. The Fund bears all risks of holding or transacting in any currency. Any credit made to any Agency or BBH [ ] Account shall be provisional and may be reversed by the Custodian in the event such payment is not actually collected. The Custodian shall not be liable for any loss or damage arising from the applicability of any law or regulation now or hereafter in effect, or from the occurrence of any event, which may delay or affect the transferability, convertibility or availability of any currency in the country (i) in which such BBH [ ] or Agency Accounts are maintained or (ii) in which such currency is issued, and in no event shall the Custodian be obligated to make payment of a deposit denominated in a currency during the period during which its transferability, convertibility or availability has been affected by any such law, regulation or event. Without limiting the generality of the foregoing, neither the Custodian nor any Subcustodian shall be required to repay any deposit made at a foreign branch of either the Custodian or Subcustodian if such branch cannot repay the deposit due to (i) an act of war, insurrection or civil strife; or (ii) an action by a foreign government or instrumentality, whether de jure or de facto, in the country in which the branch is located preventing such repayment, unless the Custodian or such Subcustodian expressly agrees in writing to repay the deposit under such circumstances. All currency transactions in any account opened pursuant to this Agreement are subject to exchange control regulations of the United States and of the country where such currency is the lawful currency or where the account is maintained. Any taxes, costs, charges or fees imposed on the convertibility of a currency held by the Fund shall be for the account of the Fund.