Common use of Payment of Fund Monies outside the United States Clause in Contracts

Payment of Fund Monies outside the United States. Upon receipt of 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 a Fund in the following cases only: (1) Upon the purchase of foreign Securities for the Fund, unless otherwise directed by 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; (2) In connection with the conversion, exchange or surrender of foreign Securities of the Fund; (3) For the payment of any expense or liability of the Fund, including but not limited to the following payments: interest, taxes, investment advisory fees, transfer agency fees, fees under this Agreement, legal fees, accounting fees, and other operating expenses; (4) For the purchase or sale of foreign exchange or foreign exchange contracts for the Fund, including transactions executed with or through the Custodian or its Foreign Sub-Custodians; (5) For delivery as initial or variation margin in connection with futures contracts, options on futures contracts or swap agreements entered into by the Fund on behalf of the Fund; (6) Upon the purchase of foreign investments including, without limitation, repurchase agreement transactions involving delivery of Fund monies to Repo Custodian(s), and prior to receipt of such investments, as set forth in written Instructions, provided that applicable Instructions shall set forth (A) the amount of such payment and (B) the person or persons to whom payment shall be made; (7) For payment of part or all of the dividends received in respect of Securities sold short; (8) In connection with the borrowing or lending of foreign Securities; and (9) For any other purpose, but only upon receipt of Instructions specifying (A) the amount of such payment and (B) the person or persons to whom such payment is to be made.

Payment of Fund Monies outside the United States. Upon receipt of 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 a Fund in the following cases only: (1) Upon the purchase of foreign Securities for the Fund, unless otherwise directed by 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; (2) In connection with the conversion, exchange or surrender of foreign Securities of the Fund; (3) For the payment of any expense or liability of the Fund, including but not limited to the following payments: interest, taxes, investment advisory fees, transfer agency fees, fees under this Agreement, legal fees, accounting fees, and other operating expenses; (4) For the purchase or sale of foreign exchange or foreign exchange contracts for the Fund, including transactions executed with or through the Custodian or its Foreign Sub-Custodians; (5) For delivery as initial or variation margin in connection with futures contracts, options on futures contracts or swap agreements entered into by the Fund on behalf of the Fund; (6) Upon the purchase of foreign investments including, without limitation, repurchase agreement transactions involving delivery of Fund monies to Repo Custodian(s), and prior to receipt of such investments, as set forth in written Instructions, provided that applicable Instructions shall set forth (A) the amount of such payment and (B) the person or persons to whom payment shall be made; (7) For payment of part or all of the dividends received in respect of Securities sold short; (8) In connection with the borrowing or lending of foreign Securities; and (9) For any other purpose, but only upon receipt of Instructions specifying (A) the amount of such payment and (B) the person or persons to whom such payment is to be made.

Payment of Fund Monies outside the United States. Upon receipt of 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 a Fund in the following cases only: (1) Upon the purchase of foreign Securities for the Fund, unless otherwise directed by 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; (2) In connection with the conversion, exchange or surrender of foreign Securities of the Fund; (3) For the payment of any expense or liability of the Fund, including but not limited to the following payments: interest, taxes, investment advisory fees, transfer agency fees, fees under this Agreement, legal fees, accounting fees, and other operating expenses; (4) For the purchase or sale of foreign exchange or foreign exchange contracts for the Fund, including transactions executed with or through the Custodian or its Foreign Sub-Custodians; (5) For delivery as initial or variation margin in connection with futures contracts, options on futures contracts or swap agreements entered into by the Fund on behalf of the Fund; (6) Upon the purchase of foreign investments including, without limitation, repurchase agreement transactions involving delivery of Fund monies to Repo Custodian(s), and prior to receipt of such investments, as set forth in written Instructions, provided that applicable Instructions shall set forth (A) the amount of such payment and (B) the person or persons to whom payment shall be made;; 1940 ACT GCSA 2013 NY - V.06.14.2011- (Neg XXXX XXXXXXX FUNDS, FEBRUARY 28, 2014) (7) For payment of part or all of the dividends received in respect of Securities sold short; (8) In connection with the borrowing or lending of foreign Securities; and (9) For any other purpose, but only upon receipt of Instructions specifying (A) the amount of such payment and (B) the person or persons to whom such payment is to be made.