Common use of Safekeeping of Schwab Mutual Fund Shares Clause in Contracts

Safekeeping of Schwab Mutual Fund Shares. Schwab Mutual Fund Shares shall be deposited and/or maintained in an account maintained with Schwab as sub-agent for the funds. Schwab shall be deemed to be a ‘depository’ for purposes of Rule 17f-4 under the 1940 Act. The Fund hereby directs the Custodian to deposit and/or maintain such securities with Schwab, subject to the following provisions: (i) The Custodian shall keep Schwab Mutual Fund Shares with Schwab, provided that such securities are represented in an account with Schwab, in the name of the Custodian as custodian for the Fund, in which the Custodian will not deposit any assets of the Custodian other than assets held on behalf of the Fund and which Schwab represents to the Custodian will not include any assets of Schwab other than assets held as a fiduciary, custodian or otherwise for customers; (ii) The records of the Custodian with respect to Schwab Mutual Fund Shares that are maintained with Schwab shall identify by book-entry those securities which the Fund or its investment advisor has identified to the Custodian as belonging to the Fund; (iii) The Custodian shall pay for Schwab Mutual Fund Shares purchased for the account of the Fund upon (i) receipt of Authorized Instructions that such securities have been purchased and will be transferred to the Custodian’s account with Schwab, and (ii) 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 Schwab Mutual Fund Shares sold for the account of the Fund upon (i) receipt of Authorized Instructions that such securities have been sold and that payment for such securities will be transferred to the Custodian, and (ii) 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 therefor 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 Schwab 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 maintenance of Schwab Mutual Fund Shares with Schwab 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. The Fund acknowledges that the maintenance of Schwab Mutual Fund Shares with Schwab as contemplated by this Section 5.6 may be deemed to be “self custody” for purposes of the Investment Company Act of 1940 and the regulations thereunder.

Safekeeping of Schwab Mutual Fund Shares. Schwab Mutual Fund Shares shall be deposited and/or maintained in an account maintained with Schwab as sub-agent for the funds. Schwab shall be deemed to be a ‘'depository’ ' for purposes of Rule 17f-4 under the 1940 Act. The Fund hereby directs the Custodian to deposit and/or maintain such securities with Schwab, subject to the following provisions: (i) The Custodian shall keep Schwab Mutual Fund Shares with Schwab, provided that such securities are represented in an account with Schwab, in the name of the Custodian as custodian for the Fund, in which the Custodian will not deposit any assets of the Custodian other than assets held on behalf of the Fund and which Schwab represents to the Custodian will not include any assets of Schwab other than assets held as a fiduciary, custodian or otherwise for customers; (ii) The records of the Custodian with respect to Schwab Mutual Fund Shares that are maintained with Schwab shall identify indentify by book-entry those securities which the Fund or its investment advisor has identified to the Custodian as belonging to the Fund; (iii) The Custodian shall pay for Schwab Mutual Fund Shares purchased for the account of the Fund upon (i) receipt of Authorized Instructions that such securities have been purchased and will be transferred to the Custodian’s 's account with Schwab, and (ii) 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 Schwab Mutual Fund Shares sold for the account of the Fund upon (i) receipt of Authorized Instructions that such securities have been sold and that payment for such securities will be transferred to the Custodian, and (ii) 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 therefor 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 Schwab 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 maintenance of Schwab Mutual Fund Shares with Schwab 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. The Fund acknowledges that the maintenance of Schwab Mutual Fund Shares with Schwab as contemplated by this Section 5.6 may be deemed to be “"self custody” " for purposes of the Investment Company Act of 1940 and the regulations thereunder.

Safekeeping of Schwab Mutual Fund Shares. Schwab Mutual Fund Shares shall be deposited and/or maintained in an account maintained with Schwab as sub-agent for the funds. Schwab shall be deemed to be a ‘'depository’ ' for purposes of Rule 17f-4 under the 1940 Act. The Fund hereby directs the Custodian to deposit and/or maintain such securities with Schwab, subject to the following provisions: (i) The Custodian shall keep Schwab Mutual Fund Shares with Schwab, provided that such securities are represented in an account with Schwab, in the name of the Custodian as custodian for the Fund, in which the Custodian will not deposit any assets of the Custodian other than assets held on behalf of the Fund and which Schwab represents to the Custodian will not include any assets of Schwab other than assets held as a fiduciary, custodian or otherwise for customers; (ii) The records of the Custodian with respect to Schwab Mutual Fund Shares that are maintained with Schwab shall identify by book-entry those securities which the Fund or its investment advisor has identified to the Custodian as belonging to the Fund; (iii) The Custodian shall pay for Schwab Mutual Fund Shares purchased for the account of the Fund upon (i) receipt of Authorized Instructions that such securities have been purchased and will be transferred to the Custodian’s 's account with Schwab, and (ii) 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 Schwab Mutual Fund Shares sold for the account of the Fund upon (i) receipt of Authorized Instructions that such securities have been sold and that payment for such securities will be transferred to the Custodian, and (ii) 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 therefor 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 Schwab 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 maintenance of Schwab Mutual Fund Shares with Schwab 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. The Fund acknowledges that the maintenance of Schwab Mutual Fund Shares with Schwab as contemplated by this Section 5.6 may be deemed to be “"self custody” " for purposes of the Investment Company Act of 1940 and the regulations thereunder.