Common use of Segregated Account Clause in Contracts

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account by the Custodian pursuant to Section 2.10 hereof (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission ("SEC") or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundFund on behalf of the applicable Portfolio, a certified copy of a resolution of the applicable Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate or trust purposes, as applicable.

Segregated Account. The Custodian shall shall, upon receipt of Proper Instructions from Instructions, which may be of a continuing nature where deemed appropriate by mutual agreement of the Fund parties, establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release release, rule or releases policy, of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian U.S. Trust shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a an account by U.S. Securities System Account by the Custodian Trust pursuant to Section 2.10 hereof 8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian U.S. Trust and a broker-dealer registered under the Securities and Exchange Act of 1934 and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the each such Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each Client, establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Client, into which account or accounts may be transferred cash Cash and/or securitiesSecurities of the Client, including securities Securities maintained in a U.S. Securities System Custody Account or Cash Account by the Custodian pursuant Custodian, and collateral provided to Section 2.10 hereof the Client by its counterparties, (ia) in accordance with the provisions of any agreement among the FundClient, the Custodian and a broker-dealer (registered under the Securities Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), FINRA) relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Market)exchange, or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundClient, (iib) in accordance with the provisions of any agreement among the Client, the Custodian and any futures commission merchant (registered under the Commodity Exchange Act) relating to compliance with the rules of the CFTC or any registered contract market, or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Client, (c) for purposes of segregating cash Cash or government securities Securities in connection with options purchased, sold or written by the Fund Client or commodity futures contracts or options thereon purchased or sold by the FundClient, (iiid) for the purposes of compliance by the Fund Client with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered management investment companies companies, and (ive) for any other proper corporate purposes, but only, purpose in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposesaccordance with Instructions.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the each such Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the FundFund , the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundFund , a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee of the Fund signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall shall, upon receipt of Proper Instructions from Instructions, which may be of a continuing nature where deemed appropriate by mutual agreement of the Fund parties, establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release release, rule or releases policy, of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.segregated

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the each such Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the FundFund , the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundFund , a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian U.S. Trust shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a an account by U.S. Securities System Account by the Custodian Trust pursuant to Section 2.10 hereof 8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian U.S. Trust and a broker-dealer brokerdealer registered under the Securities and Exchange Act of 1934 and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon Upon the receipt of Proper Instructions from Instructions, the Fund Custodian shall establish and maintain a segregated account or segregated accounts for and on behalf of the Fundany Portfolio, into which account or accounts may be transferred cash and/or securitiessecurities of the Portfolio and collateral provided to the Portfolio by its counterparties, including securities maintained in a U.S. Securities System Account by the Custodian pursuant to Section 2.10 hereof (ia) in accordance with the provisions of any agreement among a Fund, on behalf of the FundPortfolio, the Custodian and a broker-dealer (registered under the Securities Exchange Act of 1934 and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), Financial Industry Regulatory Authority) relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Market)exchange, or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Portfolio, (b) in accordance with the provisions of any agreement among a Fund, on behalf of the Portfolio, the Custodian and any futures commission merchant (iiregistered under the Commodity Exchange Act) relating to compliance with the rules of the Commodity Futures Trading Commission or any registered contract market, or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Portfolio, (c) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iiid) for the purposes of compliance by the a Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered management investment companies companies, and (ive) for any other proper corporate purposes, but only, purpose in the case of this clause (iv), upon receipt of, in addition to accordance with Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposesInstructions.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause --- ---- (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian Bank shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account Segregated Account or accounts Accounts for and on behalf of the Fund, into which account Account or accounts Accounts may be transferred cash and/or securities, securities including securities maintained in a U.S. Securities System an Account by the Custodian Bank pursuant to Section 2.10 hereof 6(B) hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian Bank and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant Futures Commission Merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The the Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Market), or of any similar organization or organizations, organizations regarding escrow or other arrangements in connection with transactions by the Fund, and (ii) for purposes the purpose of segregating cash or government securities in connection with options purchased, sold purchased or written by the Fund Fund, or commodity futures contracts or options thereon purchased or sold written by the Fund, and (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts Segregated Accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or Directors of the executive committee thereof Fund signed by an officer of the Fund and certified by the Fund's Secretary or Clerk of an Assistant SecretaryClerk, setting forth the purpose or purposes of such segregated account Segregated Account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian Wachovia shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securitiesSecurities, including securities maintained Securities that Wachovia maintains in a U.S. Securities System Account by the Custodian an account pursuant to Section 2.10 hereof Paragraph 6: (i) in accordance with the provisions of any agreement among the Fund, the Custodian Wachovia and a broker-dealer registered under the Securities Exchange Act of 1934 (the "Exchange Act") and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), ) relating to compliance with the rules of The the Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundFund transactions, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund purchases, sells or writes or commodity futures contracts or options thereon purchased that the Fund purchases or sold by the Fundsells, (iii) for the purposes of the Fund's compliance by the Fund with the procedures required by Investment Company set out in 1940 Act Release No. 10666, or any subsequent release or releases of the SEC relating to the registered investment companies' maintenance of segregated accounts by registered investment companies accounts; and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such the segregated account and declaring such the purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretaryapplicable Portfolio, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposespurpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain maintain, or cause the applicable foreign banking institution to establish and maintain, a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account by the Custodian pursuant to Section 2.10 hereof (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian (or such foreign banking institution) and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and or of any registered national securities exchange (or the Commodity Futures Trading Commission or and/or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government and/or securities in connection with (a) options purchased, sold or written by the Fund or Portfolio, (b) commodity futures contracts or options thereon purchased purchased, sold or sold written by the Portfolio or (c) other transactions requiring segregation as described in the Fund's registration statement as in effect from time to time, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundFund on behalf of the applicable Portfolio, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant SecretaryCertified Resolution , setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this -------- clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon Upon receipt of Proper Instructions from the Fund Instructions, establish and maintain a segregated account or accounts for and on behalf of the Fundeach Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian Provident pursuant to Section 2.10 hereof paragraph 4B hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian Provident and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Funda Portfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund a Portfolio or commodity futures contracts or options thereon purchased or sold by the Fundsuch Portfolio, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) ), for other proper corporate purposes, but only, in the case of this clause (iv)) , upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall State Street shall, upon receipt of Proper Instructions from the Fund Instructions, establish and maintain a segregated account or accounts for and on behalf of the each Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian State Street pursuant to Section 2.10 hereof paragraph 4B hereof, (i) in accordance with the provisions of any agreement among the FundTrust, the Custodian State Street and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the each Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the each Fund or commodity futures contracts or options thereon purchased or sold by the Fundsuch Funds, (iii) for the purposes of compliance by the Fund Trust with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund Trust and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian U.S. Trust shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a an account by U.S. Securities System Account by the Custodian Trust pursuant to Section 2.10 hereof 8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian U.S. Trust and a broker-dealer registered under the Securities and Exchange Act of 1934 and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretaryapplicable Portfolio, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposespurpose.

Segregated Account. The Custodian shall State Street shall, upon receipt of Proper Instructions from the Fund Instructions, establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian State Street pursuant to Section 2.10 hereof Paragraph 4B hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian State Street and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD FINRA (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with swaps arrangements entered into on behalf of a Portfolio, options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release rules, regulations or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and companies, (iv) for the purpose of segregating securities or other proper corporate purposes, but only, assets of the Fund in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from connection with a borrowing transaction between the Fund, a certified copy on behalf of a resolution Portfolio, as borrower and another investment company, on behalf of the Board of Trustees a portfolio thereof, advised by Janus Capital Management LLC (or of the executive committee thereof signed by an officer of the Fund its successors and certified by the Fund's Secretary or an Assistant Secretaryassigns), setting forth the and (v) for any other purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposesin accordance with Proper Instructions.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account by the Custodian pursuant to Section 2.10 hereof (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and or of any registered national securities exchange (or the Commodity Futures Trading Commission or and/or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government and/or securities in connection with (a) options purchased, sold or written by the Fund, (b) commodity futures contracts or options thereon purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by (c) other transactions requiring segregation as described in the Fund's registration statement as in effect from time to time, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, Certified Resolution setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian Chase Manhattan Bank shall upon receipt of ------------------ Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian The Chase Manhattan Bank pursuant to Section 2.10 hereof 8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian The Chase Manhattan Bank and a broker-broker dealer registered under the Securities and Exchange Act of 1934 and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing 11 Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies companies, and (iv) for other proper corporate trust purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretaryapplicable Portfolio, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposestrust purpose.

Segregated Account. The Custodian Chase Manhattan Bank shall upon receipt of ------------------ Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian The Chase Manhattan Bank pursuant to Section 2.10 hereof 8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian The Chase Manhattan Bank and a broker-broker dealer registered under the Securities and Exchange Act of 1934 and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund Trust and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------- Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in -------- the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case -------- of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposespurpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securitiesother Assets, including securities Financial Assets maintained in a the U.S. Securities System Account by the Custodian pursuant to Section 2.10 hereof Account, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate or trust purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper of Special Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposesor trust purpose. Section 4. Duties of the Custodian with Respect to Property of the Fund Held Outside of the United States

Segregated Account. The Custodian shall State Street shall, upon receipt of Proper Instructions from the Fund Instructions, establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian State Street pursuant to Section 2.10 hereof paragraph 4B hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian State Street and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the Fundapplicable Fund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies companies, and (iv) for other proper corporate trust purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretaryapplicable Portfolio, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposespurpose.

Segregated Account. The Custodian Wachovia shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securitiesSecurities, including securities maintained Securities Wachovia maintains in a U.S. Securities System Account by the Custodian an account pursuant to Section 2.10 hereof Paragraph 7, (i) in accordance with the provisions of any agreement among the Fund, the Custodian Wachovia and a broker-dealer registered under the Securities Exchange Act of 1934 (the Exchange Act) and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), ) relating to compliance with the rules of The the Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundFund transactions, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund purchases, sells or writes or commodity futures contracts or options thereon purchased the Fund purchases or sold by the Fundsells, (iii) for the purposes of the Fund's compliance by the Fund with the procedures required by set out in Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the registered investment companies' maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors or Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such the segregated account and declaring such the purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer broker‑dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate trust purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundFund on behalf of the applicable Portfolio, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, Certified Resolution setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposestrust purpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate trust purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretaryapplicable Portfolio, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposestrust purpose.

Segregated Account. The Custodian shall shall, upon receipt of Proper Instructions from the Fund Fund, establish and maintain maintain, or cause the applicable foreign banking institution to establish and maintain, a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account by the Custodian pursuant to Section 2.10 hereof (i) in accordance with the provisions of any agreement among the Fund, the Custodian (or such foreign banking institution) and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and or of any registered national securities exchange (or the Commodity Futures Trading Commission or and/or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government and/or securities in connection with (a) options purchased, sold or written by the Fund, (b) commodity futures contracts or options thereon purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by (c) other transactions requiring segregation as described in the Fund's registration statement as in effect from time to time, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant SecretaryCertified Resolution, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the each Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.12 hereof, (i) in accordance with the provisions of any agreement among the FundTrust, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the for a Fund, (ii) for purposes purpose of segregating cash or government securities in connection with options purchased, sold or written by the for a Fund or commodity futures contracts or options thereon purchased or sold by the for a Fund, (iii) for the purposes purpose of compliance by the Trust or a Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund Trust and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the each Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.12 hereof, (i) in accordance with the provisions of any agreement among the FundCorporation, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The the Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the for a Fund, (ii) for purposes the purpose of segregating cash or government securities in connection with options purchased, sold or written by the for a Fund or commodity futures contracts or options thereon purchased or sold by the for a Fund, (iii) for the purposes purpose of compliance by the Corporation or a Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund Corporation and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund (as such term is defined Section 3 below) establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), only upon receipt of, in addition to Proper Instructions from the Fund(as such term is defined Section 3 below), a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, Certified Resolution setting forth the purpose or purposes of such segregated account and declaring such purposes purpose to be a proper corporate purposespurpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, applicable Portfolio setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in i)in accordance with the provisions of any agreement among the Fundapplicable Fund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission (CFTC: or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies companies, and (iv) for other proper corporate trust purposes, but only, in the case of this clause (iv), upon iv),upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretaryapplicable Portfolio, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposespurpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, _but onlyONLY, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretaryapplicable Portfolio, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposespurpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.9 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Commodities Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC U.S. Securities and Exchange Commission (the "SEC"), or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies companies, and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund-------- Instructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of ------------------ Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC SEC, or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this --- ---- clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretaryapplicable Portfolio, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposespurpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash cash, securities and/or securitiesother property, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate trust purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposestrust purpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-broker dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund ------------------ establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but --- only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund---- Instructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.9 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund Trust establish and maintain a segregated account or accounts for and on behalf of the Fundeach Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement relating to the Portfolio among the FundTrust, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Trust and/or the Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundTrust, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund Trust and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof (ihereof, ( i ) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of or segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act, as amended (the "Commodity Exchange Act")), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant Futures Commission Merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee of the Fund signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the any Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.12 hereof, (i) in accordance with the provisions of any agreement among the FundTrust, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the a Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the a Fund or commodity commodities futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes purpose of compliance by the a Fund with the procedures required RECOMMENDED by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate Trust purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund Trust and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this --- ---- clause (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of the Series establish and maintain a segregated account or accounts for and on behalf of the Fundsuch Series, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.12 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Series, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundSeries, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Series or commodity futures contracts or options thereon purchased or sold by the FundSeries, (iii) for the purposes of compliance by the Fund Series with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund on behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, Series setting forth the purpose or purposes of such segregated account and declaring such purposes to be a proper corporate purposespurpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission (the ‘‘SEC’’) relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act (the "Commodity Exchange Act")), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.12 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid high grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), --- ---- upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund a Portfolio establish and maintain a segregated account or accounts for and on behalf of the FundPortfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundPortfolio, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fundeach Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.12 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause --- ---- (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fundeach such Portfolio, into which account or accounts may be transferred cash and/or and or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the Fundapplicable Fund on behalf of the Portfolio, the Custodian and a broker-dealer registered under wider the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission CFTC or any registered Contract Marketcontact market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, . or any subsequent release or releases of the SEC SEC. or interpretative opinion of the staff of the SEC, relating to the maintenance of segregated accounts by registered investment companies companies, and (ivIv) for other proper corporate trust purposes, but only, in the case of this clause (iv), upon receipt of, in addition to of Proper Instructions from the Fund, a certified copy of a resolution Fund an behalf of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretaryapplicable Portfolio, setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposespurpose.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in -------- the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this -------- clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures -9- C/M 11212.0012 304365.1 required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------- Instructions from the Fund on behalf of each applicable Portfolio establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian custodian and a brokerbroke r-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundFund on behalf of the applicable Portfolio, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian Bank shall upon receipt of if Proper Instructions from the Fund establish and maintain a segregated account Segregated Account or accounts Accounts for and on behalf of the Fund, into which account Account or accounts Accounts may be transferred cash and/or securities, securities including securities maintained in a U.S. Securities System an Account by the Custodian Bank pursuant to Section 2.10 hereof 6(B) hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian Bank and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant Futures Commission Merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The the Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Market), or of any similar organization or organizations, organizations regarding escrow or other arrangements in connection with transactions by the Fund, and (ii) for purposes the purpose of segregating cash or government securities in connection with options purchased, sold purchased or written by the Fund Fund, or commodity futures contracts or options thereon purchased or sold written by the Fund, and (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts Segregated Accounts by registered investment companies and (iv) for other proper corporate purposes, but onlyBUT ONLY, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified receipt copy of a resolution of the Board of Trustees or Directors of the executive committee thereof Fund signed by an officer of the Fund and certified by the Fund's Secretary or clerk of an Assistant SecretaryClerk, setting forth the purpose purposes or purposes of such segregated account Segregated Account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of ------------------ Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.8 hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-broker- dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate trust purposes, but only, in the case of this clause (iv), upon receipt of, in --- ---- addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, Certified Resolution setting forth the purpose or purposes of such segregated account and declaring such purposes purpose(s) to be a proper corporate purposestrust purpose.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf -15- 19 of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in -------- addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act 14 18 Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes purpose of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Directors/Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or cash, government securities or liquid, high-grade debt obligations in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this -------- clause (iv), upon receipt of, in addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fund, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof hereof, (i) in accordance with the provisions of any agreement among the Fund, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the Fund, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund or commodity futures contracts or options thereon purchased or sold by the Fund, (iii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in addition to Proper Instructions from the Fund, a certified copy of a resolution of the Board of Trustees Directors or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.

Segregated Account. The Custodian shall upon receipt of Proper ------------------ Instructions from the Fund establish and maintain a segregated account or accounts for and on behalf of the Fundeach Portfolio, into which account or accounts may be transferred cash and/or securities, including securities maintained in a U.S. Securities System Account an account by the Custodian pursuant to Section 2.10 hereof 2.12 hereof, (i) in accordance with the provisions of any agreement among the FundFund on behalf of the Portfolio, the Custodian and a broker-dealer registered under the Exchange Act and a member of the NASD (or any futures commission merchant registered under the Commodity Exchange Act), relating to compliance with the rules of The Options Clearing Corporation and of any registered national securities exchange (or the Commodity Futures Trading Commission or any registered Contract Marketcontract market), or of any similar organization or organizations, regarding escrow or other arrangements in connection with transactions by the FundPortfolio, (ii) for purposes of segregating cash or government securities in connection with options purchased, sold or written by the Fund Portfolio or commodity futures contracts or options thereon purchased or sold by the FundPortfolio, (iii) for the purposes of compliance by the Fund Portfolio with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the SEC Securities and Exchange Commission relating to the maintenance of segregated accounts by registered investment companies and (iv) for other proper corporate purposes, but only, in the case of this clause (iv), upon receipt of, in --- ---- addition to Proper Instructions from the FundInstructions, a certified copy of a resolution of the Board of Trustees or of the executive committee thereof Executive Committee signed by an officer of the Fund and certified by the Fund's Secretary or an Assistant Secretary, setting forth the purpose or purposes of such segregated account and declaring such purposes to be proper corporate purposes.