Common use of Payment of Trust Moneys Clause in Contracts

Payment of Trust Moneys. Upon receipt of proper instructions, which may be continuing instructions, the Custodian will pay out moneys of the Trust on behalf of the Fund(s) in the following cases only: 1. Upon the purchase of securities for the account of each Fund, but only (a) against the delivery of such securities to the Custodian (or any bank, banking firm or trust company doing business in the United States or abroad which is qualified under the 1940 Act to act as a custodian and has been designated by the Trust or by the Custodian as its agent for this purpose); (b) in the case of a purchase effected through a Securities System, in accordance with the conditions set forth in Article II, Section J hereof or; (c) in the case of repurchase agreements entered into between the Trust on behalf of the Fund and the Custodian, or another bank, (i) against delivery of securities either in certificate form or through an entry crediting the Custodian's account at the Federal Reserve Bank with such securities and with an indication on the books of the Custodian that such securities are held for the benefit of the Fund, and (ii) against delivery of the receipt evidencing purchase by the Trust on behalf of the Fund of securities owned by the Custodian or other bank along with written evidence of the agreement by the Custodian or other bank to repurchase such securities from the Trust on behalf of the Fund; 2. In connection with conversion, exchange or surrender of securities owned by the Trust on behalf of any Fund as set forth in Article II, Section B hereof; 3. For the redemption or repurchase of Shares as set forth in Article II, Section H hereof; 4. For the payment of any expense or liability incurred by the Trust with respect to the Fund(s), including, but not limited to, the following payments for the account of the Fund(s): interest, dividend disbursements, taxes, trade association dues, advisory, administration, accounting, transfer agent and legal fees, and operating expenses allocated to the Trust or the Fund(s) whether or not such expenses are to be in whole or part capitalized or treated as deferred expenses; 5. For the payment of any dividend declared on behalf of the Fund(s) pursuant to the governing documents of the Trust; and 6. For any other proper corporate purposes, but only upon receipt of, in addition to proper instructions, a certified copy of a resolution of the Board of Trustees of the Trust signed by an officer of the Trust and certified by its Secretary or an Assistant Secretary, specifying the amount of such payment, setting forth the purpose for which such payment is to be made, declaring such purpose to be a proper corporate purpose, and naming the person or persons to whom such payment is to be made.

Payment of Trust Moneys. Upon receipt of proper instructionsProper Instructions, which may be continuing instructionsinstructions when deemed appropriate by the parties, the Custodian will shall pay out moneys of the Trust on behalf of the Fund(s) in the following cases only: 1. ) Upon the purchase of securities securities, futures contracts or options on futures contracts for the account of each Fund, the Trust but only (a) against the delivery of such securities securities, or evidence of title to 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 which is qualified under the 1940 Investment Company Act of 1940, as amended, to act as a custodian and has been designated by the Trust or by the Custodian as its agent for this purpose)) registered in the name of the Trust or in the name of a nominee of the Custodian referred to in Section 2.3 hereof or in proper form for transfer; (b) in the case of a purchase effected through a Securities System, in accordance with the conditions set forth in Article II, Section J 2.12 hereof or; or (c) in the case of repurchase agreements entered into between the Trust on behalf of the Fund and the Custodian, or another bank, (i) or a broker-dealer which is a member of NASD against delivery of the securities either in certificate form or through an entry crediting the Custodian's account at the Federal Reserve Bank with such securities and with an indication on the books of the Custodian that such securities are held for the benefit of the Fund, and or (ii) against delivery of the receipt evidencing purchase by the Trust on behalf of the Fund of securities owned by the Custodian or other bank along with written evidence of the agreement by the Custodian or other bank to repurchase such securities from the Trust on behalf of the Fund; Trust; 2. ) In connection with conversion, exchange or surrender of securities owned by the Trust on behalf of any Fund as set forth in Article II, Section B 2.2 hereof; ; 3. ) For the redemption or repurchase of Shares issued by the Trust as set forth in Article II, Section H 2.10 hereof; ; 4. ) For the payment of any expense or liability incurred by the Trust with respect to the Fund(s)Trust, including, including but not limited to, to the following payments for the account of the Fund(s): Trust: interest, dividend disbursements, taxes, trade association dues, advisory, administrationmanagement, accounting, transfer agent and legal fees, and operating expenses allocated to of the Trust or the Fund(s) whether or not such expenses are to be in whole or part capitalized or treated as deferred expenses; ; 5. ) For the payment of any dividend dividends declared on behalf of the Fund(s) pursuant to the governing documents of the Trust; and 6. ) For payment of the amount of dividends received in respect of securities sold short; 7) For any other proper corporate purposespurpose, but only upon receipt of, in addition to proper instructionsProper Instructions, a certified copy of a resolution of the Board of Trustees or of the Executive Committee of the Trust signed by an officer of the Trust and certified by its Secretary or an Assistant Secretary, specifying the amount of such payment, setting forth the purpose for which such payment is to be made, declaring such purpose to be a proper corporate purpose, and naming the person or persons to whom such payment is to be made.

Payment of Trust Moneys. Upon receipt of proper instructionsProper Instructions, which may be continuing instructionsinstructions when deemed appropriate by the parties, the Custodian will shall pay out Trust moneys of the Trust on behalf of the Fund(s) held in a Fund's account in the following cases only: (1. ) Upon the purchase of securities securities, options, futures contracts or options on futures contracts for the account of each Fund, the Fund but only (a) against the delivery of such securities securities, or evidence of title to 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 which is qualified under the 1940 Investment Company Act of 1940, as amended, to act as a custodian and has been designated by the Trust or by the Custodian as its agent for this purpose)) registered in the name of the Trust or in the name of a nominee of the Custodian referred to in Section 2.3 hereof or in proper form for transfer; (b) in the case of a purchase for the Fund effected through a Securities System, in accordance with the conditions set forth in Article II, Section J hereof or2.12 hereof; or (c) in the case of a repurchase agreements agreement entered into between the Trust (on behalf of the Fund Fund) and the Custodian, or another bank, or a broker-dealer, (i) against delivery of the securities either in certificate form or through an entry crediting the Custodian's segregated non-proprietary account at the Federal Reserve Bank with such securities and with an indication on the books of the Custodian that such securities are held for the benefit of the Fund, and or (ii) against delivery of the receipt evidencing purchase by the Trust on behalf of the Fund of securities owned by the Custodian or other bank along with written evidence of the agreement by the Custodian or other bank to repurchase such securities from the Trust on behalf of the FundTrust; (2. ) In connection with conversion, exchange or surrender of securities owned by the Trust on behalf of any Fund in the Fund's portfolio as set forth in Article II, Section B 2.2 hereof; ; (3. ) For the redemption or repurchase of Fund Shares issued by the Trust as set forth in Article II, Section H 2.10 hereof; ; (4. ) For the payment of any expense or liability incurred by the Trust with respect to the Fund(s), including, but not limited to, the following payments for the account of the Fund(s): Fund, including but not limited to the following payments: interest, dividend disbursements, taxes, trade association dues, advisory, administrationmanagement, accounting, transfer agent and legal fees, and operating expenses allocated to of the Trust or the Fund(s) Fund whether or not such expenses are to be in whole or part capitalized or treated as deferred expenses; ; (5. ) For the payment of any dividend declared dividends on behalf Shares of the Fund(s) Fund declared pursuant to the governing documents of the Trust; and (6. ) For any other proper corporate purposes, but only upon receipt of, in addition to proper instructions, a certified copy payment of a resolution of the Board of Trustees of the Trust signed by an officer of the Trust and certified by its Secretary or an Assistant Secretary, specifying the amount of such payment, setting forth dividends received in respect of securities sold short from the purpose for which such payment is to be made, declaring such purpose to be a proper corporate purpose, and naming the person or persons to whom such payment is to be made.Fund's portfolio; 7

Payment of Trust Moneys. Upon receipt of proper instructionsProper Instructions, which may be continuing instructionsinstructions when deemed appropriate by the parties, the Custodian will Provident shall pay out moneys of the Trust on behalf of the Fund(s) in the following cases only: 1. Upon (a) upon the purchase of securities Securities for the account of each Fund, the Trust but only only: (ai) against the delivery of such securities Securities to the Custodian Provident (or any bank, banking firm or trust company doing business in the United States or abroad which is qualified under the 1940 Investment Company Act of 1940, as amended, to act as a custodian and has been designated by the Trust or by the Custodian Provident as its agent for this purpose)) registered in the name of the Trust or in the name of a nominee of Provident referred to in Section 3.4 hereof or in proper form for transfer; (bii) in the case of a purchase effected through a Securities System, in accordance with the conditions set forth in Article II, Section J hereof or3.13 hereof; or (ciii) in the case of repurchase agreements entered into between the Trust on behalf of the Fund and the Custodian, either Provident or another bankparty, (i1) against delivery of securities the Securities either in certificate form or through an entry crediting the CustodianProvident's custodial account at the Federal Reserve Bank with such securities and with an indication on the books of the Custodian that such securities are held for the benefit of the Fund, and Securities; (ii2) against delivery of the a safekeeping receipt from a Securities depository evidencing purchase by the Trust on behalf of the Fund of securities owned by the Custodian Provident or other bank along with written evidence another party, and prior to any receipt of confirmation of the repurchase agreement if Provident in its sole discretion deems it appropriate or (3) pursuant to such other procedures enumerated in written repurchase agreements entered into by the Custodian or other bank to repurchase such securities from the Trust on behalf of the Fund;Trust. 2. In (b) in connection with conversion, exchange or surrender of securities Securities owned by the Trust on behalf of any Fund fund as set forth in Article II, Section B 3.2 hereof; 3. For the redemption or repurchase of Shares as set forth in Article II, Section H hereof; 4. For (c) for the payment of any expense or liability incurred by the Trust with respect to the Fund(s)Trust, including, including but not limited to, to the following payments for the account of the Fund(s): Trust: interest, dividend disbursements, taxes, trade association dues, advisory, administrationmanagement, accounting, transfer agent and legal fees, and operating expenses allocated to of the Trust or the Fund(s) whether or not such expenses are to be in whole or part capitalized or treated as deferred expenses; 5. For (d) for the payment of any dividend dividends declared on behalf of the Fund(s) pursuant to the governing documents Trust's Declaration of Trust, By-Laws and Registration Statement. (e) in the case of Options, (1) the premium for the purchase of an Option shall be payable upon receipt of Proper Instructions and the oral affirmation of the purchase of such Options, given by the clearing member (in the case of Options Clearing Corporation traded options) or by the broker and may be made in advance of receipt of a clearing member's confirmation or broker's confirmation confirming purchase of an Option by the Trust, and (2) the payment to a clearing member or broker upon the exercise of a call Option by the Trust shall be made upon receipt of the Securities underlying the call Option exercised by the Trust; (f) in the case of Financial Futures Contracts, (1) payments for Financial Futures Contracts, including payments of initial margin, shall be payable into a Broker Account upon receipt of Proper Instructions and the oral affirmation of the purchase or sale of the Financial Futures Contract given by the broker and may be made in advance of any receipt of a broker's confirmation confirming the purchase or sale of the Financial Futures contract, (2) payment of variation margin shall be payable upon receipt of proper instructions, and (3) payments in settlement of Financial Futures Contracts shall be payable into a Broker Account upon receipt of Proper Instructions and the oral affirmation of the settlement of the Financial Futures Contract and may be made in advance of receipt of a broker's confirmation confirming settlement of the Financial Futures Contract. (g) upon receipt of Proper Instructions, for any other purpose which the Trust declares is a proper Trust purpose. Provident shall have no responsibility to determine whether said activities are a proper purpose of the Trust; and 6. For any other proper corporate purposes, but only upon receipt of, in addition to proper instructions, a certified copy of a resolution of the Board of Trustees of the Trust signed by an officer of the Trust and certified by its Secretary or an Assistant Secretary, specifying the amount of such payment, setting forth the purpose for which such payment is to be made, declaring such purpose to be a proper corporate purpose, and naming the person or persons to whom such payment is to be made.

Payment of Trust Moneys. Upon receipt of proper instructions, which may be continuing instructionsinstructions when deemed appropriate by the parties, the Custodian will shall pay out moneys of the Trust on behalf of the Fund(s) in the following cases only: 1. Upon the purchase of securities for the account of each a Fund, but only (a) against the delivery of such securities to the Custodian (or any bank, banking firm or trust company doing business in the United States or abroad which is qualified under the 1940 Act to act as a custodian and has been designated by the Trust Fund or by the Custodian as its agent for this purpose)) registered in the name of the Trust or in the name of a nominee of the Custodian referred to in Section C of Article II hereof or in proper form for transfer; (b) in the case of a purchase effected through a Securities System, in accordance with the conditions set forth in Article II, Section J of Article II hereof or; (c) in the case of repurchase agreements entered into between the Trust on behalf of the any Fund and the Custodian, or another bank, (i) against delivery of securities either in certificate form or through an entry crediting the Custodian's account at the Federal Reserve Bank with such securities and with an indication on the books of the Custodian that such securities are held for the benefit of the Fund, Fund and (ii) against delivery of the receipt evidencing purchase by the Trust on behalf of the any Fund of securities owned by the Custodian or other bank along with written evidence of the agreement by the Custodian or other bank to repurchase such securities from the Trust on behalf of the FundTrust; 2. In connection with conversion, exchange or surrender of securities owned by the Trust on behalf of any Fund as set forth in Article II, Section B of Article II hereof; ; 3. For the redemption or repurchase of Shares as set forth in Article II, Section H of Article II hereof; ; 4. For the payment of any expense or liability incurred by the Trust with respect to the its Fund(s), including, but not limited to, the following payments for the account accounts of the Trust for the affected Fund(s): interest, dividend disbursements, taxes, trade association dues, advisory, administration, accounting, transfer agent and legal fees, and operating expenses allocated to the Trust or the Fund(s) Fund whether or not such expenses are to be in whole or part capitalized or treated as deferred expenses; ; 5. For the payment of any dividend declared on behalf of the Fund(s) any Fund pursuant to the governing documents of the Trust; and and 6. For any other proper corporate purposes, but only upon receipt of, in addition to proper instructions, a certified copy of a resolution of the Board of Trustees of the Trust signed by an officer of the Trust and certified by its Secretary or an Assistant Secretary, specifying the amount of such payment, setting forth the purpose for which such payment is to be made, declaring such purpose to be a proper corporate purpose, and naming the person or persons to whom such payment is to be made.

Payment of Trust Moneys. Upon receipt of proper instructions, which may be continuing instructions, the Custodian will pay out moneys of the Trust on behalf of the Fund(s) Fund in the following cases only: 1. Upon the purchase of securities for the account of each the Fund, but only (a) against the delivery of such securities to the Custodian (or any bank, banking firm or trust company doing business in the United States or abroad which is qualified under the 1940 Act to act as a custodian and has been designated by the Trust Fund or by the Custodian as its agent for this purpose); (b) in the case of a purchase effected through a Securities System, in accordance with the conditions set forth in Article II, Section J hereof or; (c) in the case of repurchase agreements entered into between the Trust on behalf of the Fund and the Custodian, or another bank, (i) against delivery of securities either in certificate form or through an entry crediting the Custodian's account at the Federal Reserve Bank with such securities and with an indication on the books of the Custodian custodian that such securities are held for the benefit of the Fund, and (ii) against delivery of the receipt evidencing purchase by the Trust on behalf of the Fund of securities owned by the Custodian or other bank along with written evidence of the agreement by the Custodian or other bank to repurchase such securities from the Trust on behalf of the Fund; 2. In connection with conversion, exchange or surrender of securities owned by the Trust on behalf of any Fund as set forth in Article II, Section B hereof; 3. For the redemption or repurchase of Shares as set forth in Article II, Section H hereof; ; 4. For the payment of any expense or liability incurred by the Trust with respect to the Fund(s)Fund, including, but not limited to, the following payments for the account of the Fund(s): Fund: interest, dividend disbursements, taxes, trade association dues, advisory, administration, accounting, transfer agent and legal fees, and operating expenses allocated to the Trust or the Fund(s) Fund whether or not such expenses are to be in whole or part capitalized or treated as deferred expenses; 5. For the payment of any dividend declared on behalf of the Fund(s) Fund pursuant to the its governing documents of the Trustdocuments; and 6. For any other proper corporate purposes, but only upon receipt of, in addition to proper instructions, a certified copy of a resolution of the Board of Trustees Directors of the Trust Fund signed by an officer of the Trust Fund and certified by its Secretary or an Assistant Secretary, specifying the amount of such payment, setting forth the purpose for which such payment is to be made, declaring such purpose to be a proper corporate purpose, and naming the person or persons to whom such payment is to be made.

Payment of Trust Moneys. Upon receipt of proper instructions, which may be continuing instructions, the Custodian will pay out moneys of the Trust on behalf of the Fund(s) in the following cases only: 1. Upon the purchase of securities for the account of each Fund, but only (a) against the delivery of such securities to the Custodian (or any bank, banking firm or firm, trust company or other entity doing business in the United States or abroad which is qualified under the 1940 Act to act as a custodian and has been designated by the Trust or by the Custodian as its agent for this purpose); (b) in the case of a purchase effected through a Securities System, in accordance with the conditions set forth in Article II, Section J hereof or; (c) in the case of repurchase agreements entered into between the Trust on behalf of the Fund and the Custodian, or another bankparty, (i) against delivery of securities either in certificate form or through an entry crediting the Custodian's account at the Federal Reserve Bank with such securities and with an indication on the books of the Custodian that such securities are held for the benefit of the Fund, and (ii) against delivery of the receipt evidencing purchase by the Trust on behalf of the Fund of securities owned by the Custodian or other bank party along with written evidence of the agreement by the Custodian or other bank party to repurchase such securities from the Trust on behalf of the Fund; 2. In connection with conversion, exchange or surrender of securities owned by the Trust on behalf of any Fund as set forth in Article II, Section B hereof; 3. For the redemption or repurchase of Shares as set forth in Article II, Section H hereof; 4. For the payment of any expense or liability incurred by the Trust with respect to the Fund(s), including, but not limited to, the following payments for the account of the Fund(s): interest, dividend disbursements, taxes, trade association dues, advisory, administration, accounting, transfer agent and legal fees, and operating expenses allocated to the Trust or the Fund(s) whether or not such expenses are to be in whole or part capitalized or treated as deferred expenses; 5. For the payment of any dividend distribution declared on behalf of the Fund(s) pursuant to the governing documents of the Trust; and 6. For any other proper corporate purposes, but only upon receipt of, in addition to proper instructions, a certified copy of a resolution of the Board of Trustees of the Trust signed by an officer of the Trust and certified by its Secretary or an Assistant Secretary, specifying the amount of such payment, setting forth the purpose for which such payment is to be made, declaring such purpose to be a proper corporate purpose, and naming the person or persons to whom such payment is to be made. 7. Notwithstanding anything to the contrary in this Agreement, in order to permit a Fund to engage in tri-party repurchase agreement transactions ("Tri-party Repos") using one or more additional custodians for the Fund engaged for the limited purpose of facilitating Tri-party Repos (each, a "Repo Custodian") (such Repo Custodians to be identified on Schedule B attached hereto, as amended from time to time), upon receipt of Proper Instructions, the Custodian shall deliver cash and/or other assets of any Fund to the account of a Repo Custodian), which delivery may be made without contemporaneous receipt by the Custodian of cash or other assets in exchange therefor. Upon such delivery of cash or other assets in accordance with such Proper Instructions, the Custodian shall have no further responsibility or obligation to the Fund as a custodian of the Fund with respect to the cash or assets so delivered. The Trust may amend Schedule B from time to time to add or delete a Repo Custodian or change the identification of the account maintained by a Repo Custodian for the Fund by delivering Special Instructions (as defined herein) to the Custodian. The term Special Instructions shall mean written instructions executed by at least two officers of the Fund holding the office of Vice President or higher.