Common use of Proxies and Other Materials Clause in Contracts

Proxies and Other Materials. The Custodian shall cause all proxies relating to Securities which are not registered in the name of any Fund to be promptly executed by the registered holder of such Securities, without indication of the manner in which such proxies are to be voted, and shall promptly deliver to the applicable Trust such proxies, all proxy soliciting materials and all notices relating to such Securities. With respect to foreign Securities, the Custodian will use reasonable commercial efforts to facilitate the exercise of voting and other shareholder rights, subject to the laws, regulations and practical constraints that may exist in the country where such securities are issued. Notwithstanding the Custodian’s undertaking to exercise such reasonable commercial efforts, each Trust acknowledges that local conditions, including lack of regulation, onerous procedural obligations, lack of notice and other factors may have the effect of severely limiting the ability of the Custodian to exercise shareholder rights.

Proxies and Other Materials. The Custodian shall cause all proxies --------------------------- relating to Securities which are not registered in the name of any the Fund to be promptly executed by the registered holder of such Securities, without indication of the manner in which such proxies are to be voted, and shall promptly deliver to the applicable Trust such proxies, all proxy soliciting materials and all notices relating to such Securities. With respect to the foreign Securities, the Custodian will use reasonable commercial efforts to facilitate the exercise of voting and other shareholder rights, subject to the laws, regulations and practical constraints that may exist in the country where such securities are issued. Notwithstanding the Custodian’s undertaking to exercise such reasonable commercial efforts, each The Trust acknowledges that local conditions, including lack of regulation, onerous procedural obligations, lack of notice and other factors may have the effect of severely limiting the ability of the Custodian Trust to exercise shareholder rights.

Proxies and Other Materials. The Custodian shall cause all proxies relating to Securities which are not registered in the name of any Fund to be promptly executed by the registered holder of such Securities, without indication of the manner in which such proxies are to be voted, and shall promptly deliver to the applicable Trust such proxies, all proxy soliciting materials and all notices relating to such Securities. With respect to foreign Securities, the Custodian will use reasonable commercial efforts to facilitate the exercise of voting and other shareholder rights, subject to the laws, regulations and practical constraints that may exist in the country where such securities are issued. Notwithstanding the Custodian’s Custodians undertaking to exercise such reasonable commercial efforts, each Trust acknowledges that local conditions, including lack of regulation, onerous procedural obligations, lack of notice and other factors may have the effect of severely limiting the ability of the Custodian to exercise shareholder rights.

Proxies and Other Materials. The Custodian shall cause all proxies ----------------------------- relating to Securities which are not registered in the name of any the Fund to be promptly executed by the registered holder of such Securities, without indication of the manner in which such proxies are to be voted, and shall promptly deliver to the applicable Trust such proxies, all proxy soliciting materials and all notices relating to such Securities. With respect to the foreign Securities, the Custodian will use reasonable commercial efforts to facilitate the exercise of voting and other shareholder rights, subject to the laws, regulations and practical constraints that may exist in the country where such securities are issued. Notwithstanding the Custodian’s undertaking to exercise such reasonable commercial efforts, each The Trust acknowledges that local conditions, including lack of regulation, onerous procedural obligations, lack of notice and other factors may have the effect of severely limiting the ability of the Custodian Trust to exercise shareholder rights.

Proxies and Other Materials. The Custodian shall cause all proxies relating to Securities which are not registered in the name of any the Fund to be promptly executed by the registered holder of such Securities, without indication of the manner in which such proxies are to be voted, and shall promptly deliver to the applicable Trust such proxies, all proxy soliciting materials and all notices relating to such Securities. With respect to foreign Securities, the Custodian will use reasonable commercial efforts to facilitate the exercise of voting and other shareholder rights, subject to the laws, regulations and practical constraints that may exist in the country where such securities are issued. Notwithstanding the Custodian’s undertaking to exercise such reasonable commercial efforts, each the Trust acknowledges that local conditions, including lack of regulation, onerous procedural obligations, lack of notice and other factors may have the effect of severely limiting the ability of the Custodian Trust to exercise shareholder rights.