Common use of Segregated Accounts Clause in Contracts

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain segregated account(s) on its records for and on behalf of the Fund. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and (B) Upon receipt of Written Instructions, for other proper corporate purposes. (ii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: (A) a customer agreement between the FCM and the Fund has been entered into; and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied.

Segregated Accounts. (i) PNC Bank PFPC Trust shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(saccounts(s) on its records for and on behalf of the Fundwhich segregated accounts will relate to a particular Account. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund a Portfolio with the procedures required by a securities or option exchange; providing that, providing if the Portfolio is a series of a Fund that is an investment company registered under the 1940 Act, such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and or (B) Upon upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank PFPC Trust may enter into separate custodial agreements with various futures commission merchants ("FCMs") that a particular Portfolio (or a particular Portfolio with respect to a particular Account) uses with respect to the Fund uses assets maintained hereunder ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in with respect to any transactions involving futures contracts and options on futures contracts will be held by PNC Bank PFPC Trust in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), applicable SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions a request from the Fund which state that: (A) a customer agreement between the FCM and the Fund has been entered into; and (B) the Fund is in compliance with all the rules and regulations of the CFTCapplicable Portfolio. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for with respect to which PNC Bank PFPC Trust holds such an account may only occur upon certification by the FCM to PNC Bank PFPC Trust that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank PFPC Trust such instructions have been satisfied.

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain segregated account(s) on its records for and on behalf of the Fund. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and (B) Upon receipt of Written Instructions, for other proper corporate purposes. (ii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: (A) a customer agreement between the FCM and the Fund has been entered into; and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied.an

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain segregated account(s) on its records for and on behalf of the Fund. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: : (A) a customer agreement between the FCM and the Fund has been entered into; and and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied. (iii) PNC Bank shall arrange for the establishment of XXX custodian accounts for such share- holders holding Shares through XXX accounts, in accordance with the Fund's prospectuses, the Internal Revenue Code (including regulations), and with such other procedures as are mutually agreed upon from time to time by and among the Fund, PNC Bank and the Fund's transfer agent.

Segregated Accounts. (i) PNC Bank shall upon receipt of Written Instructions or Oral Instructions establish and maintain a segregated account(s) on its records for and on behalf of the Fundeach Portfolio. Such account(s) accounts may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank shall arrange for the establishment of XXX custodian accounts for such shareholders holding Shares through XXX accounts, in accordance with a Portfolio's prospectuses, the Internal Revenue Code of 1986, as amended (including regulations promulgated thereunder), and with such other procedures as are mutually agreed upon from time to time by and among the Fund, PNC Bank and a Portfolio's transfer agent. (iii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses Portfolios use (each an "FCM Agreement"). Pursuant , pursuant to an FCM Agreement, which the Fund's Portfolios' margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund on behalf of a particular Portfolio ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: that (Ai) a customer agreement between the FCM and the Fund on behalf of a particular Portfolio has been entered into; and (Bii) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied.

Segregated Accounts. (i) PNC Bank Provident shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(saccounts(s) on its records for and on behalf of the Fundeach Portfolio. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank Provident may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank Provident in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: : (A) a customer agreement between the FCM and the Fund has been entered into; and and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank Provident holds such an account may only occur upon certification by the FCM to PNC Bank Provident that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank Provident such instructions have been satisfied. (iii) Provident shall arrange for the establishment of IRA custodian accounts for such shareholders holding shares through IRA xxxounts, in accordance with the Prospectus, the Internal Revenue Code (including regulations), and with such other procedures as are mutually agreed upon from time to time by and among the Fund, Provident and the Fund's transfer agent.

Segregated Accounts. (ia) PNC Bank Northern shall upon receipt of Written or Oral Proper Instructions establish and maintain a segregated account(s) account or accounts on its records for and on behalf of each Portfolio of the Fund. Such account(s) Trust, into which account or accounts may be used to transfer transferred cash and and/or securities, including securities in the Book-Entry System: System (Ai) for the purposes of compliance by the Fund Trust with the procedures required by a securities or option exchange, providing such procedures comply with the Investment Company Act of 1940 Act and Release No. 10666 or any subsequent release or releases of the SEC Securities and Exchange Commission("SEC") relating to the maintenance of segregated accounts by registered investment companies; , and (Bii) Upon receipt of Written Instructions, for other proper corporate purposes. , but only, in the case of clause (ii), upon receipt of Proper Instructions. (b) PNC Bank Northern may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund Trust uses (each an "FCM Agreement"). Pursuant , pursuant to an FCM Agreement, which the FundTrust's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank the Trust in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund Trust ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Proper Instructions from the Fund Trust which state that: that (Ai) a customer agreement between the FCM and the Fund Trust has been entered into; and (Bii) the Fund Trust is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a an FCM Account only upon Written Proper Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank Northern holds such an account may only occur upon certification by the FCM to PNC Bank Northern that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank Northern such instructions instruction have been satisfied.

Segregated Accounts. (ia) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(s) account or accounts on its records for and on behalf of each portfolio of the Fund. Such account(s) , into which account or accounts may be used to transfer transferred cash and and/or securities, including securities in the Book-Entry System: System (Ai) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and Release No. 10666 or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; , and (Bii) Upon receipt of Written Instructions, for other proper corporate purposes. , but only, in the case of clause (ii), upon receipt of Written Instructions. (b) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses (each an "FCM Agreement"). Pursuant , pursuant to an FCM Agreement, which the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: that (Ai) a customer agreement between the FCM and the Fund has been entered into; and (Bii) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions instruction have been satisfied.

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain segregated account(s) on its records for and on behalf of the Fund. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and (B) Upon receipt of Written Instructions, for other proper corporate purposes. (ii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: (A) a customer agreement between the FCM and the Fund has been entered into; and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied.

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(saccounts(s) on its records for and on behalf of the Fundeach Portfolio. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts ("FCM Account") subject to the disposition by the FCM involved in such 24 25 contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: : (A) a customer agreement between the FCM and the Fund has been entered into; and and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied. (iii) PNC Bank shall arrange for the establishment of IRA xxxtodian accounts for such

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain segregated account(s) on its records for and on behalf of the Fund. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: : (A) a customer agreement between the FCM and the Fund has been entered into; and and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied. (iii) PNC Bank shall arrange for the establishment of XXX custodian accounts for such shareholders holding Shares through XXX accounts, in accordance with the Fund's prospectuses, the Internal Revenue Code (including regulations), and with such other procedures as are mutually agreed upon from time to time by and among the Fund, PNC Bank and the Fund's transfer agent.

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(saccounts(s) on its records for and on behalf of each of the FundPortfolios. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts ("FCM Account") subject to the disposition by the FCM involved in such 24 25 contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: : (A) a customer agreement between the FCM and the Fund has been entered into; and and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied. (iii) PNC Bank shall arrange for the establishment of IRA xxxtodian accounts for such

Segregated Accounts. (ia) PNC Bank Provident shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(s) account or accounts on its records for and on behalf of the Fund. Such account(s) , into which account or accounts may be used to transfer transferred cash and and/or securities, including securities in the Book-Entry System: Entry (Ai) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and Release No. 10666 or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; , and (Bii) Upon receipt of Written Instructions, for other proper corporate purposes. , but only, in the case of clause (ii), upon receipt of Written Instructions. (b) PNC Bank Provident may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses (each an "FCM Agreement"). Pursuant , pursuant to an FCM Agreement, which the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank Provident in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: that (Ai) a customer agreement between the FCM and the Fund has been entered into; and (Bii) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank Provident holds such an account may only occur upon certification by the FCM to PNC Bank Provident that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank Provident such instructions instruction have been satisfied.

Segregated Accounts. (i) PNC Bank Provident shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(saccounts(s) on its records for and on behalf of the Fundeach Portfolio. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act 25 26 and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank Provident may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank Provident in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: : (A) a customer agreement between the FCM and the Fund has been entered into; and and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied.made

Segregated Accounts. (i) PNC Bank The Custodian shall upon receipt of Written or Oral Instructions establish and maintain segregated account(s) accounts on its records for and on behalf of the Fundeach Portfolio. Such account(s) accounts may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank The Custodian may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses (each an "FCM Agreement"). Pursuant , pursuant to an FCM Agreement, which the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank the Custodian in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: that (Ai) a customer agreement between the FCM and the Fund has been entered into; and (Bii) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank the Custodian holds such an account may only occur upon certification by the FCM to PNC Bank the Custodian that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank the Custodian such instructions instruction have been satisfied.

Segregated Accounts. (ia) PNC Bank Provident shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(s) account or accounts on its records for and on behalf of each portfolio of the Fund. Such account(s) , into which account or accounts may be used to transfer transferred cash and and/or securities, including securities in the Book-Entry System: System (Ai) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and Release No. 10666 or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; , and (Bii) Upon receipt of Written Instructions, for other proper corporate purposes. , but only, in the case of clause (ii), upon receipt of Written Instructions. (b) PNC Bank Provident may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses (each an "FCM Agreement"). Pursuant pursuant to an FCM Agreement, which the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank Provident in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: that (Ai) a customer agreement between the FCM and the Fund has been entered into; and (Bii) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank Provident holds such an account may only occur upon certification by the FCM to PNC Bank Provident that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank Provident such instructions instruction have been satisfied.

Segregated Accounts. (ia) PNC Bank shall Mercantile shall, upon receipt of Written or Oral Instructions Instructions, establish and maintain a segregated account(s) account or accounts on its records for and on behalf of the Fund. Such account(s) , into which account or accounts may be used to transfer transferred cash and and/or securities, including securities in the Book-Entry System: System (Ai) for the purposes of compliance by the Fund with the procedures required by a securities or option options exchange, providing PROVIDED such procedures comply with the 1940 Act and Release No. 40-10666 or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; , and (Bii) Upon receipt of Written Instructions, for other proper corporate purposes. , but only, in the case of clause (ii), upon receipt of Written Instructions. (b) PNC Bank Mercantile may enter into separate sub-custodial agreements with various futures commission merchants ("FCMs") that the Fund uses (each an "FCM Procedural Agreement"). Pursuant , pursuant to an FCM Agreement, which the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank Mercantile in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract")Fund, SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Procedural Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: that (Ai) a customer agreement between the FCM and the Fund has been entered into; and (Bii) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Electronic or Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank Mercantile holds such an account may only occur upon certification by the FCM to PNC Bank Mercantile that pursuant to the FCM Agreement and the FCM Contractcontract between the Fund and the FCM, all conditions precedent to its right to give PNC Bank Mercantile such instructions instruction have been satisfied.

Segregated Accounts. (i) PNC Bank LTCB shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(s) account or accounts on its records for and on behalf of the Fund. Such account(s) Company, into which account or accounts may be used to transfer transferred cash and and/or securities, including securities in the Book-Entry System: System (Ai) for the purposes of compliance by the Fund Company with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and Release No. 10666 or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; , and (Bii) Upon receipt of Written Instructions, for other proper corporate purposes. , but only, in the case of clause (ii) PNC Bank ), upon receipt of Written Instructions. LTCB may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund Company uses (each an "FCM Agreement"). Pursuant , pursuant to an FCM Agreement, which the FundCompany's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank LTCB in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund Company ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund Company which state that: that (Ai) a customer agreement between the FCM and the Fund Company has been entered into; and (Bii) the Fund Company is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank LTCB holds such an account may only occur upon certification by the FCM to PNC Bank LTCB that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its ALL CONDITIONS PRECEDENT TO ITS right to give PNC Bank LTCB such instructions instruction have been satisfied.

Segregated Accounts. (ia) PNC Bank Provident shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(s) account or accounts on its records for and on behalf of the Fund. Such account(s) , into which account or accounts may be used to transfer transferred cash and and/or securities, including securities in the Book-Entry System: System (Ai) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and Release No. 10666 or any subsequent release or releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; , and (Bii) Upon receipt of Written Instructions, for other proper corporate purposes. , but only, in the case of clause (ii), upon receipt of Written Instructions. (b) PNC Bank Provident may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses (each a "FCM Agreement"). Pursuant , pursuant to an FCM Agreement, which the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank Provident in accounts (each a "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: that (Ai) a customer agreement between the FCM and the Fund has been entered into; and (Bii) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank Provident holds such an account may only occur upon certification by the FCM to PNC Bank Provident that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank Provident such instructions instruction have been satisfied.

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(saccounts(s) on its records for and on behalf of each Portfolio of the Fund. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and Act (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank shall arrange for the establishment of IRA xxxtodian accounts for such shareholders holding shares through IRA accounts, in accordance with the Prospectus, the Internal Revenue Code (including regulations), and with such other procedures as are mutually agreed upon from time to time by and among the Fund, PNC Bank and the Fund's transfer agent. (iii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses (each an "FCM Agreement"). Pursuant , pursuant to an FCM Agreement, which the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract contact between FCM and the Fund ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: that (Ai) a customer agreement between the FCM and the Fund has been entered into; and (Bii) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers Except as otherwise determined by the Governing Board, transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give -20- 21 PNC Bank such instructions instruction have been satisfied.

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(saccounts(s) on its records for and on behalf of each portfolio of the Fund. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases regulations of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank shall arrange for the establishment of IRA xxxtodian accounts for such shareholders holding shares through IRA xxxounts, in accordance with the Prospectus, the Internal Revenue Code (including regulations), and with such other procedures as are mutually agreed upon from time to time (iii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses (each an "FCM Agreement"). Pursuant , pursuant to an FCM Agreement, which the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts (each an "FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract contact between FCM and the Fund ("FCM Contract"), SEC rules governing such segregated accounts, CFTC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: that (Ai) a customer agreement between the FCM and the Fund has been entered into; and (Bii) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers Except as otherwise determined by the Governing Board, transfers of initial margin shall be made into a an FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a an FCM Account pursuant to Oral Instructions. Transfers of funds from a an FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions instruction have been satisfied.

Segregated Accounts. (i) PNC Bank PFPC Trust shall upon receipt of Written or Oral Instructions establish and maintain a segregated account(saccounts(s) on its records for and on behalf of the Fundwhich segregated accounts will relate to a particular Account. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund a Portfolio with the procedures required by a securities or option exchange; providing that, providing if the Portfolio is a series of a Fund that is an investment company registered under the 1940 Act, such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and or (B) Upon upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank PFPC Trust may enter into separate custodial agreements with various futures commission merchants ("FCMs") that a particular Portfolio (or a particular Portfolio with respect to a particular Account) uses with respect to the Fund uses assets maintained hereunder ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in with respect to any transactions involving futures contracts and options on futures contracts will be held by PNC Bank PFPC Trust in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), applicable SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions a request from the Fund which state that: (A) a customer agreement between the FCM and the Fund has been entered into; and (B) the Fund is in compliance with all the rules and regulations of the CFTCapplicable Portfolio. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for with respect to which PNC Bank PFPC Trust holds such an account may only occur upon certification by the FCM to PNC Bank PFPC Trust that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank PFPC Trust such instructions have been satisfied.

Segregated Accounts. (i) PNC Bank shall upon receipt of Written or Oral Instructions establish and maintain segregated account(s) on its records for and on behalf of the Fund. Such account(s) may be used to transfer cash and securities, including securities in the Book-Entry System: : (A) for the purposes of compliance by the Fund with the procedures required by a securities or option exchange, providing such procedures comply with the 1940 Act and any releases of the SEC relating to the maintenance of segregated accounts by registered investment companies; and and (B) Upon receipt of Written Instructions, for other proper corporate purposes. . (ii) PNC Bank may enter into separate custodial agreements with various futures commission merchants ("FCMs") that the Fund uses ("FCM Agreement"). Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange. Such FCM Agreements shall only be entered into upon receipt of Written Instructions from the Fund which state that: : (A) a customer agreement between the FCM and the Fund has been entered into; and and (B) the Fund is in compliance with all the rules and regulations of the CFTC. Transfers of initial margin shall be made into a FCM Account only upon Written Instructions; transfers of premium and variation margin may be made into a FCM Account pursuant to Oral Instructions. Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied. (iii) PNC Bank shall arrange for the establishment of IXX custodian accounts for such share- holders holding Shares through IXX accounts, in accordance with the Fund's prospectuses, the Internal Revenue Code (including regulations), and with such other procedures as are mutually agreed upon from time to time by and among the Fund, PNC Bank and the Fund's transfer agent.