Common use of Status of Client Clause in Contracts

Status of Client. Custodian understands that the Client is an open-end management investment company, registered with the SEC under the Investment Company Act of 1940 (“1940 Act”). In the event that the Client issues additional separate Portfolios, the Client’s Securities and Cash, as well as its liabilities shall be allocated to each such Portfolio in accordance with the Client’s Instructions. This Agreement is executed by the Client with respect to each of its Portfolios and the obligations hereunder are not binding upon any of the trustees, officers or shareholders of the Client individually. Notwithstanding any other provision in this Agreement to the contrary, each and every obligation, liability or undertaking of a particular Portfolio under this Agreement shall constitute solely an obligation, liability or undertaking of, and be binding upon, such particular Portfolio and shall be payable solely from the available assets of such particular Portfolio and shall not be binding upon or affect any assets of any other Portfolio.

Status of Client. Custodian understands that the Client is an openexchange-end management traded investment company, registered with the SEC under the Investment Company Act of 1940 (“1940 Act”). In the event that the The Client issues additional several separate Portfolios, Portfolios and the Client’s Securities and Cash, as well as its liabilities liabilities, are, and shall be be, allocated to each such Portfolio in accordance with the Client’s Instructions. This Agreement is executed by the Client with respect to each of its Portfolios and the obligations hereunder are not binding upon any of the trustees, officers or shareholders of the Client individually. Notwithstanding any other provision in this Agreement to the contrary, each and every obligation, liability or undertaking of a particular Portfolio under this Agreement shall constitute solely an obligation, liability or undertaking of, and be binding upon, such particular Portfolio and shall be payable solely from the available assets of such particular Portfolio and shall not be binding upon or affect any assets of any other Portfolio.

Status of Client. Custodian understands that the Client is an open-end management investment company, registered with the SEC under the Investment Company Act of 1940 (“1940 Act”). In the event that the The Client issues additional several separate Portfolios, Portfolios and the Client’s Securities and Cash, as well as its liabilities liabilities, are, and shall be be, allocated to each such Portfolio in accordance with the Client’s Instructions. This Agreement is executed by the Client with respect to each of its Portfolios and the obligations hereunder are not binding upon any of the trustees, officers or shareholders of the Client individually. Notwithstanding any other provision in this Agreement to the contrary, each and every obligation, liability or undertaking of a particular Portfolio under this Agreement shall constitute solely an obligation, liability or undertaking of, and be binding upon, such particular Portfolio and shall be payable solely from the available assets of such particular Portfolio and shall not be binding upon or affect any assets of any other Portfolio.

Status of Client. Custodian understands that the Client is an open-end management investment company, registered with the SEC under the Investment Company Act of 1940 (“1940 Act”). In the event that the The Client issues additional several separate Portfolios, Portfolios and the Client’s Securities and Cash, as well as its liabilities liabilities, are, and shall be be, allocated to each such Portfolio in accordance with the Client’s Instructions. This Agreement is executed by the Client with respect to each of its Portfolios and the obligations hereunder are not binding upon any of the trusteesdirectors, officers or shareholders of the Client individually. Notwithstanding any other provision in this Agreement to the contrary, each and every obligation, liability or undertaking of a particular Portfolio under this Agreement shall constitute solely an obligation, liability or undertaking of, and be binding upon, such particular Portfolio and shall be payable solely from the available assets of such particular Portfolio and shall not be binding upon or affect any assets of any other Portfolio.