Common use of Registration of Securities and Physical Separation Clause in Contracts

Registration of Securities and Physical Separation. The Custodian is authorized to hold all Assets, or other property of each Fund in nominee name, in bearer form or in book-entry form. The Custodian may register any Assets or other property of each Fund in the name of the Trust or the Fund, in the name of the Custodian, any domestic subcustodian, or Foreign Custodian, in the name of any duly appointed registered nominee of such entity, or in the name of a Securities Depository or its successor or successors, or its nominee or nominees. The Custodian will credit to each Fund's Account at the Custodian such Assets or other property of the respective Fund. The Custodian is hereby authorized to deposit with, and hold Assets or other property of the applicable Fund with any Securities Depository. The Fund agrees to furnish to the Custodian appropriate instruments to enable the Custodian to hold or deliver in proper form for transfer, or to register in the name of its registered nominee or in the name of a Securities Depository, any Assets which it may hold for the account of the applicable Fund and which may from time to time be registered in the name of the Trust or the applicable Fund. The Custodian shall hold all such Assets specifically allocated to the applicable Fund which are not held in a Securities Depository in a separate account for the Fund in the name of the Fund physically segregated at all times from those of any other person or persons.

Registration of Securities and Physical Separation. The Custodian is authorized to hold all Assets, or other property of each Fund in nominee name, in bearer form or in book-entry form. The Custodian may register any Assets or other property of each Fund in the name of the Trust or the Fund, in the name of the Custodian, any domestic subcustodian, or Foreign Custodian, in the name of any duly appointed registered nominee of such entity, or in the name of a Securities Depository or its successor or successors, or its nominee or nominees. The Custodian will credit to each Fund's Account at the Custodian such Assets or other property of the respective Fund. The Custodian is hereby authorized to deposit with, and hold Assets or other property of the applicable Fund with any Securities Depository. The Fund Trust agrees to furnish to the Custodian appropriate instruments to enable the Custodian to hold or deliver in proper form for transfer, or to register in the name of its registered nominee or in the name of a Securities Depository, any Assets which it may hold for the account of the applicable Fund and which may from time to time be registered in the name of the Trust or the applicable Fund. The Custodian shall hold all such Assets specifically allocated to the applicable Fund which are not held in a Securities Depository in a separate account for the Fund in the name of the Fund physically segregated at all times from those of any other person or persons.