Common use of Receipt of Securities Clause in Contracts

Receipt of Securities. The Fund agrees to place all of the Securities of each Series in its account with the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities of any Series are being so deposited, or to require that such Securities be so deposited, or to take any action or give any notice with respect to the Securities not so deposited. The Custodian agrees to hold such Securities in the account of the Series designated by the Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order from the Fund, to receive from persons other than the Fund and to hold in the account of the Series designated by the Fund Securities specified in said Written Order of the Fund, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities were received, from the funds of the applicable Series held by the Custodian in said account in the amounts provided and in the manner directed by the Written Order from the Fund. The Custodian agrees that all Securities of each Series placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof. Upon delivery of any Securities of any Series to a subcustodian pursuant to Article 3 of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable Series.

Receipt of Securities. The Fund agrees to place all of its Securities in the Securities custody of each Series in its account with the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities of any Series the Fund are being so deposited, or to require that such Securities be so deposited, deposited or to take any action or give any notice with respect to the Securities not so deposited. The Custodian agrees to hold such Securities in for the account of the Series designated by the Fund, in the name of the Fund or of a bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order Instructions from the Fund, to receive from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities specified in said Written Order of the FundInstructions, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities were received, from the funds of the applicable Series Fund held by it in the Custodian in said account Fund Account in the amounts provided and in the manner directed by the Written Order Instructions from the Fund. The Custodian agrees that all Securities of each Series the Fund placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm firm, or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own Securities. Upon delivery Subject to such rules, regulations, and orders as the Securities and Exchange Commission (the “SEC”) may adopt, the Fund may direct the Custodian to deposit all or any part of any the Securities owned by the Fund in a system for the central handling of Securities established by a national securities exchange or a national securities association registered with the SEC under the Securities Exchange Act of 1934, as amended, or such other person as may be permitted by the SEC, pursuant to which system all Securities of any Series particular class of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of such Securities, provided that all such deposits shall be subject to a subcustodian pursuant to Article 3 withdrawal only at the direction of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesFund.

Receipt of Securities. The Fund agrees to place all of its Securities in the Securities custody of each Series in its account with the Custodian, Custodian but the Custodian shall not be under any obligation or duty to determine whether all Securities of any Series the Fund are being so deposited, or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities not so deposited. The Custodian agrees to hold such Securities in for the account of the Series designated by the Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order from the Fund, to receive from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities specified in said Written Order of the FundOrder, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities were received, from the funds of the applicable Series Fund held by the Custodian it in said account Custodian Account in the amounts provided and in the manner directed by the Written Order from the Fund. The Custodian agrees that all Securities of each Series the Fund placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm firm, or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own Securities. Upon delivery Subject to such rules, regulations, and orders as the Securities and Exchange Commission may adopt, the Fund may direct the Custodian to deposit all or any part of any the Securities owned by the Fund in a system for the central handling of Securities established by a national securities exchange or a national securities association registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, or such other person as may be permitted by the Commission, pursuant to which system all Securities of any Series particular class of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of such Securities, provided that all such deposits shall be subject to a subcustodian pursuant to Article 3 withdrawal only at the direction of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesFund.

Receipt of Securities. The Fund agrees to place all of its securities of the Securities Fund in the custody of each Series in its account with the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities securities of any Series the Fund are being so deposited, deposited or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities securities not so deposited. The Custodian agrees to hold such Securities in securities for the account of the Series designated by the Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order written order from the Fund, to receive receipt from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities securities specified in said Written Order of the Fundwritten order, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities securities were received, from the funds of the applicable Series Fund held by it in the Custodian in said account Account in the amounts provided and in the manner directed by the Written Order written order from the Fund. The Custodian shall have no power, or authority to assign, hypothecate, pledge or otherwise dispose of any such securities and investments, except pursuant to a written order from the Fund and only for the account of the Fund as set forth in Article 5 of this Agreement. The Custodian agrees that all Securities securities of each Series the Fund placed in its custody shall be kept physically segregated in a separate account at all times from those of any other Series, person, firm or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof. Upon delivery of any Securities of any Series , with safeguards substantially equivalent to a subcustodian pursuant to Article 3 of this Agreement, those maintained by the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable Seriesfor its own securities.

Receipt of Securities. The Fund agrees to place all of its securities in the Securities custody of each Series in its account with the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities securities of any Series the Fund are being so deposited, deposited or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities securities not so deposited. The Custodian agrees to hold such Securities in securities for the account of the Series designated by the Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreementagreement. The Custodian also agrees, upon Written Order written order from the Fund, to receive from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities securities specified in said Written Order of the Fundwritten order, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities securities were received, from the funds of the applicable Series Fund held by the Custodian it in said account Custodian Account in the amounts provided and in the manner directed by by, the Written Order written order from the Fund. The Custodian agrees that all Securities securities of each Series the Fund placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own securities. Upon Subject to such rules, regulations and orders as the Securities and Exchange Commission may adopt, the Fund may direct the Custodian to deposit all or any part of the securities owned by the Fund in a system for the central handling of securities established by a national securities exchange or a national securities association registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, or such other person as may be permitted by the Commission, pursuant to which system all securities of any particular class or series of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of any Securities such securities, provided that all such deposits shall be subject to withdrawal only at the direction of any Series to a subcustodian pursuant to Article 3 of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesFund.

Receipt of Securities. The Fund agrees to place all of its securities in the Securities custody of each Series in its account with the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities securities of any Series the Fund are being so deposited, deposited or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities securities not so deposited. The Custodian agrees to hold such Securities in securities of the account of the Series designated by the Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreementagreement. The Custodian also agrees, upon Written Order written order from the Fund, to receive from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities securities specified in said Written Order of the Fundwritten order, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities securities were received, from the funds of the applicable Series Fund held by the Custodian it in said account Custodian Account in the amounts provided and in the manner directed by the Written Order written order from the Fund. The Custodian agrees that all Securities securities of each Series the Fund placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own securities. Upon Subject to such rules, regulations and orders as the Securities and Exchange Commission may adopt, the Fund may direct the Custodian to deposit all or any part of the securities owned by the Fund in a system for the central handling of securities established by a national securities exchange or a national securities association registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, or such other person as may be permitted by the Commission, pursuant to which system all securities of any particular class or series of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of any Securities such securities, provided that all such deposits shall be subject to withdrawal only at the direction of any Series to a subcustodian pursuant to Article 3 of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesFund.

Receipt of Securities. The Fund agrees to place all of its Securities in the Securities custody of each Series in its the Custodian for the account with the Custodianof any Series, but the Custodian shall not be under any obligation or duty to determine whether all Securities of any Series the Fund are being so deposited, to which Series account any such Securities are being deposited, or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities not so deposited. The Custodian agrees to hold such Securities in for the account of the Series of the Fund designated by the Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order from the Fund, to receive from persons other than the Fund and to hold in for the account of the Series of the Fund designated by the Fund Securities specified in said Written Order of the FundOrder, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities were received, from the funds of the applicable Series Fund held by the Custodian it in said account Custodian Account in the amounts provided and in the manner directed by the Written Order from the Fund. The Custodian agrees that all Securities of each Series the Fund placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm firm, or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own Securities. Upon delivery Subject to such rules, regulations, and orders as the Securities and Exchange Commission may adopt, the Fund may direct the Custodian to deposit all or any part of any the Securities owned by the Fund in a system for the central handling of Securities established by a national securities exchange or a national securities association registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, or such other person as may be permitted by the Commission, pursuant to which system all Securities of any Series particular class or series of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of such Securities, provided that all such deposits shall be subject to a subcustodian pursuant to Article 3 withdrawal only at the direction of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesFund.

Receipt of Securities. The Fund agrees to place all of its Securities in the Securities custody of each Series in its account with the Custodian, Custodian but the Custodian shall not be under any obligation or duty to determine whether all Securities of any Series the Fund are being so deposited, or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities not so deposited. The Custodian agrees to hold such Securities in for the account of the Series designated by the Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order from the Fund, to receive from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities specified in said Written Order of the FundOrder, and, if the same are in proper form, to cause payment to be made therefor therefore to the persons from whom such Securities were received, from the funds of the applicable Series Fund held by the Custodian it in said account Custodian Account in the amounts provided and in the manner directed by the Written Order from the Fund. The Custodian agrees that all Securities of each Series the Fund placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm firm, or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own Securities. Upon delivery Subject to such rules, regulations, and orders as the Securities and Exchange Commission may adopt, the Fund may direct the Custodian to deposit all or any part of any the Securities owned by the Fund in a system for the central handling of Securities established by a national securities exchange or a national securities association registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, or such other person as may be permitted by the Commission, pursuant to which system all Securities of any Series particular class of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of such Securities, provided that all such deposits shall be subject to a subcustodian pursuant to Article 3 withdrawal only at the direction of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesFund.

Receipt of Securities. The Fund agrees to place all of the Securities of each Series in its account with the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities of any Series are being so deposited, or to require that such Securities be so deposited, or to take any action or give any notice with respect to the Securities not so deposited. The Custodian agrees to hold such Securities in the account of the Series designated by the Fund, in the Fund's name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order from the Fund, to receive from persons other than the Fund and to hold in the account of the Series designated by the Fund Securities specified in said Written Order of the Fund, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities were received, from the funds of the applicable Series held by the Custodian in said the Fund's account in the amounts provided and in the manner directed by the Written Order from the Fund. The Custodian agrees that all Securities of each Series placed in its the Custodian's custody shall be kept physically segregated at all times from those of any other Series, person, firm or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof. Upon delivery of any Securities of any Series to a subcustodian pursuant to Article 3 of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable Series.

Receipt of Securities. The Fund agrees to place all of the Securities securities of each Series Portfolio in its account with the custody of the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities securities of any Series such Portfolio are being so deposited, deposited or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities securities not so deposited. The Custodian agrees to hold such Securities in securities for the account of the Series designated by the Fundeach Portfolio, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order written order from the Fund, to receive receipt from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities appropriate Portfolio securities specified in said Written Order of the Fundwritten order, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities securities were received, from the funds of the applicable Series such Portfolio held by it in the Custodian in said account Account in the amounts provided and in the manner directed by the Written Order written order from the Fund. The Custodian shall have no power, or authority to assign, hypothecate, pledge or otherwise dispose of any such securities and investments, except pursuant to a written order from the Fund and only for the account of the Fund as set forth in Article 5 of this Agreement. The Custodian agrees that all Securities securities of each Series Portfolio placed in its custody shall be kept physically segregated in a separate account at all times from those of the other Portfolios and any other Series, person, firm or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof. Upon delivery of any Securities of any Series , with safeguards substantially equivalent to a subcustodian pursuant to Article 3 of this Agreement, those maintained by the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable Seriesfor its own securities.

Receipt of Securities. The Fund agrees to place all of the Securities securities of each Series Portfolio in its account with the custody of the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities securities of any Series such Portfolio are being so deposited, deposited or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities securities not so deposited. The Custodian agrees to hold such Securities in securities for the account of the Series designated by the Fundeach Portfolio, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order written order from the Fund, to receive receipt from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities appropriate Portfolio securities specified in said Written Order of the Fundwritten order, and, if the same are in proper formfrom, to cause payment to be made therefor to the persons from whom such Securities securities were received, from the funds of the applicable Series such Portfolio held by it in the Custodian in said account Account in the amounts provided and in the manner directed by the Written Order written order from the Fund. The Custodian shall have no power, or authority to assign, hypothecate, pledge or otherwise dispose of any such securities and investments, except pursuant to a written order from the Fund and only for the account of the Fund as set forth in Article 5 of this Agreement. The Custodian agrees that all Securities securities of each Series Portfolio placed in its custody shall be kept physically segregated at all times from those of the other Portfolios and any other Series, person, firm or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof. Upon delivery of any Securities of any Series , with safeguards substantially equivalent to a subcustodian pursuant to Article 3 of this Agreement, those maintained by the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable Seriesfor its own securities.

Receipt of Securities. The Fund agrees to place all of its Securities in the Securities custody of each Series in its the Custodian for the account with the Custodianof any Series, but the Custodian shall not be under any obligation or duty to determine whether all Securities of any Series the Fund are being so deposited, or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities not so deposited. The Custodian agrees to hold such Securities in for the account of the Series designated by the Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order from the Fund, to receive from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities specified in said Written Order of the FundOrder, and, if the same are in proper form, to cause payment to be made therefor therefore to the persons from whom such Securities were received, from the funds of the applicable Series Fund held by the Custodian it in said account Custodian Account in the amounts provided and in the manner directed by the Written Order from the Fund. The Custodian agrees that all Securities of each Series the Fund placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm firm, or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own Securities. Upon delivery Subject to such rules, regulations, and orders as the Securities and Exchange Commission may adopt, the Fund may direct the Custodian to deposit all or any part of any the Securities owned by the Fund in a system for the central handling of Securities established by a national securities exchange or a national securities association registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, or such other person as may be permitted by the Commission, pursuant to which system all Securities of any Series particular class of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of such Securities, provided that all such deposits shall be subject to a subcustodian pursuant to Article 3 withdrawal only at the direction of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesFund.

Receipt of Securities. The Fund Trust agrees to place all of its Securities in the Securities custody of each Series in its the Custodian for the account with the Custodianof any Series, but the Custodian shall not be under any obligation or duty to determine whether all Securities of any Series the Trust are being so deposited, or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities not so deposited. The Custodian agrees to hold such Securities in for the account of the Series designated by the FundTrust, in the name of the Fund Trust or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order from the FundTrust, to receive from persons other than the Fund Trust and to hold in for the account of the Series designated by the Fund Trust Securities specified in said Written Order of the FundOrder, and, if the same are in proper form, to cause payment to be made therefor therefore to the persons from whom such Securities were received, from the funds Trusts of the applicable Series Trust held by the Custodian it in said account Custodian Account in the amounts provided and in the manner directed by the Written Order from the FundTrust. The Custodian agrees that all Securities of each Series the Trust placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm firm, or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own Securities. Upon delivery Subject to such rules, regulations, and orders as the Securities and Exchange Commission may adopt, the Trust may direct the Custodian to deposit all or any part of any the Securities owned by the Trust in a system for the central handling of Securities established by a national securities exchange or a national securities association registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, or such other person as may be permitted by the Commission, pursuant to which system all Securities of any Series particular class of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of such Securities, provided that all such deposits shall be subject to a subcustodian pursuant to Article 3 withdrawal only at the direction of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesTrust.

Receipt of Securities. The Fund agrees to place all of its securities in the Securities custody of each Series in its account with the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities securities of any Series the Fund are being so deposited, deposited or to require that such Securities they be so deposited, or to take any action or give any notice with respect to the Securities securities not so deposited. The Custodian agrees to hold such Securities in securities for the account of the Series designated by the Fund, in the name of the Fund or of bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreementagreement. The Custodian also agrees, upon Written Order written order from the Fund, to receive from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities securities specified in said Written Order of the Fundwritten order, and, if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities securities were received, from the funds of the applicable Series Fund held by the Custodian it in said account Custodian Account in the amounts provided and in the manner directed by the Written Order written order from the Fund. The Custodian agrees that all Securities securities of each Series the Fund placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own securities. Upon Subject to such rules, regulations and orders as the Securities and Exchange Commission may adopt, the Fund may direct the Custodian to deposit all or any part of the securities owned by the Fund in a system for the central handling of securities established by a national securities exchange or a national securities association registered with the Securities and Exchange Commission under the Securities Exchange Act of 1934, or such other person as may be permitted by the Commission, pursuant to which system all securities of any particular class or series of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of any Securities such securities, provided that all such deposits shall be subject to withdrawal only at the direction of any Series to a subcustodian pursuant to Article 3 of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesFund.

Receipt of Securities. The Fund agrees to place all of its Securities in the Securities custody of each Series in its account with the Custodian, but the Custodian shall not be under any obligation or duty to determine whether all Securities of any Series the Fund are being so deposited, or to require that such Securities be so deposited, deposited or to take any action or give any notice with respect to the Securities not so deposited. The Custodian agrees to hold such Securities in for the account of the Series designated by the Fund, in the name of the Fund or of a bearer or of a nominee of the Custodian, and in conformity with the terms of this Agreement. The Custodian also agrees, upon Written Order Instructions from the Fund, to receive from persons other than the Fund and to hold in for the account of the Series designated by the Fund Securities specified in said Written Order of the FundInstructions, and, and if the same are in proper form, to cause payment to be made therefor to the persons from whom such Securities were received, from the funds of the applicable Series Fund held by it in the Custodian in said account Fund Account in the amounts provided and in the manner directed by the Written Order Instructions from the Fund. The Custodian agrees that all Securities of each Series the Fund placed in its custody shall be kept physically segregated at all times from those of any other Series, person, firm firm, or corporation, and shall be held by the Custodian with all reasonable precautions for the safekeeping thereof, with safeguards substantially equivalent to those maintained by the Custodian for its own Securities. Upon delivery Subject to such rules, regulations, and orders as the Securities and Exchange Commission (the “SEC”) may adopt, the Fund may direct the Custodian to deposit all or any part of any the Securities owned by the Fund in a system for the central handling of Securities established by a national securities exchange or a national securities association registered with the SEC under the Securities Exchange Act of 1934, as amended, or such other person as may be permitted by the SEC, pursuant to which system all Securities of any Series particular class of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of such Securities, provided that all such deposits shall be subject to a subcustodian pursuant to Article 3 withdrawal only at the direction of this Agreement, the Custodian will create and maintain records identifying those assets which have been delivered to the subcustodian as belonging to the applicable SeriesFund.