Common use of Safekeeping of Mutual Fund Shares Clause in Contracts

Safekeeping of Mutual Fund Shares. For purposes of this Section 5.6, Mutual Fund Shares shall be deposited and/or maintained with a Fund Agent acting as transfer agent for such fund. Each such Fund Agent shall be deemed to be a “depository” for purposes of Rule l7f-4 under the 1940 Act. The Fund hereby directs the Custodian to deposit and/or maintain such securities with a Fund Agent, subject to the following provisions: (i) The Custodian shall keep Mutual Fund Shares with a Fund Agent, provided that such securities are represented in an account with the Fund Agent, in the name of the Custodian as custodian of the Fund, in which the Custodian shall not deposit any assets of the Custodian other than assets held on behalf of the Fund; (ii) The records of the Custodian with respect to Mutual Fund Shares that are maintained with a Fund Agent shall identify by book-entry those securities which the Fund or its investment advisor identifies to the Custodian as belonging to the Fund; (iii) The Custodian shall pay for Mutual Fund Shares purchased for the account of the Fund upon (x) receipt of Authorized Instructions that such securities have been purchased and will be transferred to the Custodian’s account with the Fund Agent, and (y) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer Mutual Fund Shares sold for the account of the Fund upon (a) receipt of Authorized Instructions that such securities have been sold and that payment for such securities will be transferred to the Custodian, and (b) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. The Custodian will receive confirmation of the sale of such securities and payment therefore only after such securities are transferred. Upon request, the Custodian shall furnish the Fund copies of daily transaction sheets reflecting each day’s transactions with each Fund Agent for the account of the Fund; and (iv) The Custodian shall not be liable to the Fund for any loss or damage to the Fund resulting from the maintenance of Mutual Fund Shares with a Fund Agent except for losses resulting directly from the negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees.

Safekeeping of Mutual Fund Shares. For purposes of this Section 5.6, Mutual Fund Shares shall be deposited and/or maintained with a Fund Agent acting as transfer agent for such fund. Each such Fund Agent shall be deemed to be a “depository” for purposes of Rule l7f-4 17f-4 under the 1940 Act. The Fund hereby directs the Custodian to deposit and/or maintain such securities with a Fund Agent, subject to the following provisions: (i) The Custodian shall keep Mutual Fund Shares with a Fund Agent, provided that such securities are represented in an account with the Fund Agent, in the name of the Custodian as custodian of the Fund, in which the Custodian shall not deposit any assets of the Custodian other than assets held on behalf of the Fund; (ii) The records of the Custodian with respect to Mutual Fund Shares that are maintained with a Fund Agent shall identify by book-entry those securities which the Fund or its investment advisor identifies to the Custodian as belonging to the Fund; (iii) The Custodian shall pay for Mutual Fund Shares purchased for the account of the Fund upon (x) receipt of Authorized Instructions that such securities have been purchased and will be transferred to the Custodian’s account with the Fund Agent, and (y) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer Mutual Fund Shares sold for the account of the Fund upon (a) receipt of Authorized Instructions that such securities have been sold and that payment for such securities will be transferred to the Custodian, and (b) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. The Custodian will receive confirmation of the sale of such securities and payment therefore only after such securities are transferred. Upon request, the Custodian shall furnish the Fund copies of daily transaction sheets reflecting each day’s transactions with each Fund Agent for the account of the Fund; and (iv) The Custodian shall not be liable to the Fund for any loss or damage to the Fund resulting from the maintenance of Mutual Fund Shares with a Fund Agent except for losses resulting directly from the negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees.

Safekeeping of Mutual Fund Shares. For purposes of this Section 5.6, Mutual Fund Shares shall be deposited and/or maintained with a Fund Agent acting as transfer agent for such fund. Each such Fund Agent shall be deemed to be a “"depository” " for purposes of Rule l7f-4 l7f- 4 under the 1940 Act. The Fund hereby directs the Custodian to deposit and/or maintain such securities with a Fund Agent, subject to the following provisions: (i) The Custodian shall keep Mutual Fund Shares with a Fund Agent, provided that such securities are represented in an account with the Fund Agent, in the name of the Custodian as custodian of the Fund, in which the Custodian shall not deposit any assets of the Custodian other than assets held on behalf of the Fund; (ii) The records of the Custodian with respect to Mutual Fund Shares that are maintained with a Fund Agent shall identify by book-entry those securities which the Fund or its investment advisor identifies to the Custodian as belonging to the Fund; (iii) The Custodian shall pay for Mutual Fund Shares purchased for the account of the Fund upon (x) receipt of Authorized Instructions that such securities have been purchased and will be transferred to the Custodian’s 's account with the Fund Agent, and (y) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer Mutual Fund Shares sold for the account of the Fund upon (a) receipt of Authorized Instructions that such securities have been sold and that payment for such securities will be transferred to the Custodian, and (b) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. The Custodian will receive confirmation of the sale of such securities and payment therefore only after such securities are transferred. Upon request, the Custodian shall furnish the Fund copies of daily transaction sheets reflecting each day’s 's transactions with each Fund Agent for the account of the Fund; and (iv) The Custodian shall not be liable to the Fund for any loss or damage to the Fund resulting from the maintenance of Mutual Fund Shares with a Fund Agent except for losses resulting directly from the negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees.