Common use of Portfolios Clause in Contracts

Portfolios. This Agreement is an agreement entered into between the Bank and the Lender with respect to each Portfolio. With respect to any obligation of the Lender on behalf of any Portfolio arising out of this Agreement, the Bank shall look for payment or satisfaction of such obligation solely to the assets of the Portfolio to which such obligation relates as though the Bank had separately contracted with the Lender by separate written instrument with respect to each Portfolio. Furthermore, unless the context otherwise requires, any reference in this Agreement to any actions to be taken by the Lender shall be deemed to refer to the Lender acting on behalf of one or more of its Portfolios, any reference to the assets of the Lender shall be deemed to refer only to assets of the applicable Portfolio, and any duty or obligation of the Bank hereunder to the Lender shall be deemed to refer to duties and obligations with respect to such individual Portfolios. In the event that the Lender establishes one or more additional Portfolios with respect to which the Lender wishes to employ the Bank to act as securities lending agent hereunder, the Lender shall notify the Bank in writing. Upon written acceptance by the Bank, such Portfolio shall become subject to the provisions of this Agreement to the same extent as the existing Portfolios, except to the extent that such provisions (including those relating to the compensation and expenses payable by the Lender and its Portfolios) may be modified with respect to each additional Portfolio in writing by the Lender and the Bank at the time of the addition of the Portfolio.

Portfolios. This Agreement is an agreement entered into between ---------- the Bank and the Lender with respect to each Portfolio. With respect to any obligation of the Lender on behalf of any Portfolio arising out of this Agreement, the Bank shall look for payment or satisfaction of such obligation solely to the assets of the Portfolio to which such obligation relates as though the Bank had separately contracted with the Lender by separate written instrument with respect to each Portfolio. Furthermore, unless the context otherwise requires, any reference in this Agreement to any actions to be taken by the Lender shall be deemed to refer to the Lender acting on behalf of one or more of its Portfolios, any reference to the assets of the Lender shall be deemed to refer only to assets of the applicable Portfolio, and any duty or obligation of the Bank hereunder to the Lender shall be deemed to refer to duties and obligations with respect to such individual Portfolios. In the event that the Lender establishes one or more additional Portfolios with respect to which the Lender wishes to employ the Bank to act as securities lending agent hereunder, the Lender shall notify the Bank in writing. Upon written acceptance by the Bank, such Portfolio shall become subject to the provisions of this Agreement to the same extent as the existing Portfolios, except to the extent that such provisions (including those relating to the compensation and expenses payable by the Lender and its Portfolios) may be modified with respect to each additional Portfolio in writing by the Lender and the Bank at the time of the addition of the Portfolio.