Common use of SUBCUSTODIANS Clause in Contracts

SUBCUSTODIANS. Custodian is hereby authorized to engage another bank or trust company as a Subcustodian for all or any part of the Trust's assets, so long as any such bank or trust company is a bank or trust company organized under the laws of any state of the United States, having an aggregate capital, surplus and undivided profit, as shown by its last published report, of not less than Two Million Dollars ($2,000,000) and provided further that, if the Custodian utilizes the services of a Subcustodian, the Custodian shall obtain preapproval by the Trust and remain fully liable and responsible for any losses caused to the Trust by the Subcustodian as fully as if the Custodian was directly responsible for any such losses under the terms of the Custodian Agreement. Notwithstanding anything contained herein, if the Trust requires the Custodian to engage specific Subcustodians for the safekeeping and/or clearing of assets, the Trust agrees to indemnify and hold harmless Custodian from all claims, expenses and liabilities incurred or assessed against it in connection with the use of such Subcustodian in regard to the Trust's assets, except as may arise from its own negligent action, negligent failure to act or willful misconduct.

SUBCUSTODIANS. Custodian is hereby authorized to engage another bank or trust company as a Subcustodian for all or any part of the Trust's assets, so long as any such bank or trust company is a bank or trust company organized under the laws of any state of the United States, having an aggregate capital, surplus and undivided profit, as shown by its last published report, of not less than Two Twenty Million Dollars ($2,000,000) 20,000,000), and has had at least five years experience as custodian for mutual funds, and provided further that, if the Custodian utilizes the services of a Subcustodian, the Custodian shall obtain preapproval by the Trust and remain fully liable and responsible for any losses caused to the Trust by the Subcustodian as fully as if the Custodian was directly responsible for any such losses under the terms of the Custodian Agreement. Notwithstanding anything contained herein, if the Trust requires the Custodian to engage specific Subcustodians Subcustodians; for the safekeeping and/or clearing of assets, the Trust agrees to indemnify and hold harmless Custodian from all claims, expenses and liabilities incurred or assessed against it in connection with the use of such Subcustodian in regard to the Trust's assets, except as may arise from its own negligent action, negligent failure to act or willful misconduct.

SUBCUSTODIANS. Custodian is hereby authorized to engage another bank or trust company as a Subcustodian for all or any part of any one of the TrustFund's assets, so long as any such bank or trust company is a bank or trust company organized under the laws of any state of the United States, having an aggregate capital, surplus and undivided profit, as shown by its last published report, of not less than Two Million Dollars ($2,000,0002.000.000) and provided further that, if the Custodian utilizes the services of a Subcustodian, the Custodian shall obtain preapproval by the Trust and remain fully liable and responsible for any losses caused to any one of the Trust Funds by the Subcustodian as fully as if the Custodian was directly responsible for any such losses under the terms of the Custodian Agreement. Notwithstanding anything contained herein, if any one of the Trust Funds requires the Custodian to engage specific Subcustodians for the safekeeping and/or clearing of assets, the Trust particular Fund(s) agrees to indemnify and hold harmless Custodian from all claims, expenses and liabilities incurred or assessed against it in connection with the use of such Subcustodian in regard to the Trusteach affected Fund's assets, except as may arise from its own negligent action, negligent failure to act or willful misconduct.

SUBCUSTODIANS. Custodian is hereby authorized to engage another bank (as defined in Section 2.5 of the Investment Company Act of 1940) or trust company as a Subcustodian for all or any part of the TrustFund's assets, so long as any such bank or trust company is a bank or trust company organized under the laws of any state of the United States, having an aggregate capital, surplus and undivided profit, as shown by its last published report, of not less than Two Million Dollars ($2,000,000) and provided further that, if the Custodian utilizes the services of a Subcustodian, the Custodian shall obtain preapproval by the Trust and remain fully liable and responsible for any losses caused to the Trust Fund by the Subcustodian as fully as if the Custodian was directly responsible for any such losses under the terms of the Custodian Agreement. Notwithstanding anything contained herein, if the Trust Fund requires the Custodian to engage specific Subcustodians for the safekeeping and/or clearing of assets, the Trust Fund agrees to indemnify and hold harmless Custodian from all claims, expenses and liabilities incurred or assessed against it in connection with the use of such Subcustodian in regard to the TrustFund's assets, except as may arise from its own negligent action, negligent failure to act or willful misconduct.

SUBCUSTODIANS. Custodian is hereby authorized to engage another bank or trust company as a Subcustodian for all or any part of the Trust's assets, so long as any such bank or trust company is a bank or trust company organized under the laws of any state of the United States, having an aggregate capital, surplus and undivided profit, as shown by its last published report, of not less than Two One Hundred Million Dollars ($2,000,000100,000,000) and provided further that, if the Custodian utilizes the services of a Subcustodian, the Custodian shall obtain preapproval by the Trust and remain fully liable and responsible for any losses caused to the Trust by the Subcustodian as fully as if the Custodian was directly responsible for any such losses under the terms of the Custodian Agreement. Notwithstanding anything contained herein, if the Trust requires the Custodian to engage specific Subcustodians for the safekeeping and/or clearing of assets, the Trust agrees to indemnify and hold harmless Custodian from all claims, expenses and liabilities incurred or assessed against it in connection with the use of such Subcustodian in regard to the Trust's assets, except as may arise from its own negligent action, negligent failure to act or willful misconduct.

SUBCUSTODIANS. Custodian is hereby authorized to engage another bank or trust company as a Subcustodian for all or any part of the Trust's assets, so long as any such bank or trust company is a bank or trust company organized under the laws of any state of the United States, having an aggregate capital, surplus and undivided profit, as shown by its last published report, of not less than Two Million Dollars ($2,000,000) and provided further that, if the Custodian utilizes the services of a Subcustodian, the Custodian shall obtain preapproval by the Trust and remain fully liable and responsible for any losses caused to the Trust by the Subcustodian as fully as if the Custodian was directly responsible for any such losses under the terms of the Custodian Agreement. Notwithstanding anything contained herein, if the Trust requires the Custodian to engage specific Subcustodians for the safekeeping and/or clearing of assets, the Trust agrees to indemnify and hold harmless Custodian from all claims, expenses and liabilities incurred or assessed against it in connection with the use of such Subcustodian in regard to the Trust's assets, except as may arise from its Custodian's own negligent action, negligent failure to act or willful misconduct.