Payment Of Account Monies Sample Clauses

Payment Of Account Monies. Upon receipt of Proper Instructions from the Company, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall, from Account monies, pay out such monies in the following cases only: 1. Upon the purchase of United States investments, including options, futures contracts or options on futures contracts, for the Account, but only (i) against the delivery of such investments, including evidence of title to such options, futures contracts or options on futures contracts, to the Custodian (or any bank, banking firm or trust company doing business in the United States or abroad as a custodian which has been designated by the Custodian as its agent for this purpose) registered in the name of the Company or in the name of a nominee of the Company or of the Custodian referred to in Section 2.C. hereof or in proper form for transfer; (ii) in the case of a purchase effected through a U.S. Securities System, in accordance with the conditions set forth in Section 2.G. hereof; (iii) in the case of a purchase involving the Direct Paper System, in accordance with the conditions set forth in Section 2.H.; (iv) in the case of repurchase agreements entered into between the Company and the Custodian, or another bank, or a broker-dealer which is a member of NASD, (A) against delivery of the investments either in certificated form or through an entry crediting the Custodian's account at the Federal Reserve Bank with such investments or (B) against delivery of the receipt evidencing purchase on behalf of the Company of investments owned by the Custodian along with written evidence of the agreement by the Custodian to repurchase such investments from the Company; or (v) for transfer to a time deposit account of the Company in any bank, whether in the United States or outside the United States, or any savings and loan; such transfer may be effected prior to receipt of a confirmation from a broker and/or the applicable bank or savings and loan pursuant to Proper Instructions from the Company as defined in Section 6; 2. In connection with conversion, exchange or surrender of Account investments as set forth in Section 2.B. hereof; 3. For payment of the amount of dividends received in respect of Account investments sold short; 4. Upon the purchase of United States investments and prior to receipt of such investments, but only as set forth in written Proper Instructions (such payment in advance of delivery, along with delivery in advance of payme...

Payment Of Account Monies. Upon receipt of Proper Instructions, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall pay out, or direct the respective Foreign Sub-Custodian or the respective Foreign Securities System to pay out, monies of the Account in the following cases only: (i) upon the purchase of foreign securities for the Account, unless otherwise directed by Proper Instructions, by (A) delivering money to the seller thereof or to a dealer therefor (or an agent for such seller or dealer) against expectation of receiving later delivery of such foreign securities; or (B) in the case of a purchase effected through a Foreign Securities System, in accordance with the rules governing the operation of such Foreign Securities System; (ii) in connection with the conversion, exchange or surrender of foreign securities of the Account; (iii) for the payment of any expense or liability of the Account, including but not limited to the following payments: interest, taxes, investment advisory fees, fees under this Agreement, legal fees, accounting fees, and other operating expenses; (iv) for the purchase or sale of foreign exchange or foreign exchange contracts for the Account, including transactions executed with or through the Custodian or its Foreign Sub-Custodians; (v) in connection with trading in options and futures contracts, including delivery as original margin and variation margin; (vi) upon the purchase of foreign investments including, without limitation, repurchase agreement transactions involving delivery of Account monies to Repo Custodian(s), as a Free Trade, provided that applicable Proper Instructions shall set forth (A) the amount of such payment and (B) the person or persons to whom payment shall be made; (vii) for payment of part or all of the dividends received in respect of securities sold short; (viii) in connection with the borrowing or lending of foreign securities; and (ix) For any other purpose, but only upon receipt of Proper Instructions specifying (A) the amount of such payment and (B) the person or persons to whom such payment is to be made.

Payment Of Account Monies. Upon receipt of Proper Instructions, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall pay out, or direct the respective Sub-Custodian to pay out, monies of an Account in the following cases only: (a) upon the purchase of securities for the Account, unless otherwise directed by Proper Instructions, by (i) delivering money to the seller thereof or to a dealer therefor (or an agent for such seller or dealer) against expectation of receiving later delivery of such securities; or (ii) in the case of a purchase effected through a Depository or a Securities Depository, in accordance with the rules governing the operation of such Depository or Securities Depository; (b) in connection with the conversion, exchange or surrender of securities of the Account; (c) for the payment of any expense or liability of the Account: (d) for the purchase or sale of foreign exchange or foreign exchange contracts for the Account; (e) in connection with trading in options and futures contracts, including, delivery as original margin and variation margin;