Common use of Stock Loans Clause in Contracts

Stock Loans. Upon receipt of proper instructions, to deliver securities of a Fund, in connection with loans of securities by the Fund, to the borrower thereof prior to receipt of the collateral, if any, for such borrowing, provided that for stock loans secured by cash collateral the Subcustodian's instructions to any Securities System holding such securities require that the Securities System may deliver the securities to the borrower thereof only upon receipt of the collateral for such borrowing. 2.17 Collections - (i) To collect and receive all income, payments of principal and other payments with respect to the securities held hereunder, and in connection therewith to deliver the certificates or other instruments representing the securities to the issuer thereof or its agent when securities are called, redeemed, retired or otherwise become payable; provided, that the payment is to be made in such form and manner and at such time, which may be after delivery by the Subcustodian of the instrument representing the security, as is in accordance with the terms of the instrument representing the security, or such proper instructions as the Subcustodian may receive, or governmental regulations, the rules of Securities Systems, Foreign Depositories or other U.S. or foreign securities depositories and clearing agencies or, with respect to securities referred to in clause (iii) of Section 2.4, in accordance with the terms of the instrument representing the security or the generally accepted practice of Institutional Clients in the country or countries in which the settlement occurs, but in all events subject to the standard of care set forth in Section 6 hereof, provided that the Subcustodian shall have taken all reasonable steps to ensure prompt collection of the payment for, or return of, such securities by the broker or its clearing agent and provided further that the Subcustodian shall not be responsible for the selection of a broker or clearing agent that fails or is unable to perform; (ii) to execute ownership and other certificates and affidavits for all federal and state tax purposes in connection with receipt of income, principal or other payments with respect