Common use of PAYMENT FOR FUND INTERESTS REPURCHASED Clause in Contracts

PAYMENT FOR FUND INTERESTS REPURCHASED. Upon receipt of instructions from the Transfer Agent, the Custodian shall set aside funds of a Fund (to the extent available) for payment to holders of Fund Interests being repurchased by the applicable Fund. The Custodian is authorized upon receipt of instructions from the Transfer Agent to wire funds to or through a commercial bank designated by the holders of Fund Interests being repurchased. If the Custodian furnishes a check to a holder in payment for the repurchase of the holder’s Fund Interests and the check is drawn on the Custodian, the Custodian shall honor the check so long as the check is presented to the Custodian in accordance with the Deposit Account Agreement and such procedures and controls as are mutually agreed upon from time to time between the Fund and the Custodian.

PAYMENT FOR FUND INTERESTS REPURCHASED. Upon receipt of instructions from the Transfer Agent, the Custodian shall set aside funds of a the Fund (to the extent available) for payment to holders of Fund Interests being repurchased by the applicable Fund. The Custodian is authorized upon receipt of instructions from the Transfer Agent to wire funds to or through a commercial bank designated by the holders of Fund Interests being repurchased. If the Custodian furnishes a check to a holder in payment for the repurchase of the holder’s Fund Interests and the check is drawn on the Custodian, the Custodian shall honor the check so long as the check is presented to the Custodian in accordance with the Deposit Account Agreement and such procedures and controls as are mutually agreed upon from time to time between the Fund and the Custodian.