Common use of Types of Accounts Clause in Contracts

Types of Accounts. Cash accounts opened on the books of the Custodian (Principal Accounts) shall be opened in the name of a Fund, and if applicable, coupled with the name of such Fund. The Custodian shall hold all cash received by it in such Principal Accounts for the account of a Fund or such Fund in accordance with Rule 17f-3 under the 1940 Act. Each such Principal Account shall be a deposit obligation of the Custodian and shall be subject to the terms of this Section 7 and the general liability provisions contained in this Agreement. Cash accounts opened on the books of a Sub-custodian may be opened in the same manner as with the Custodian or in the name of the Sub-custodian or in the name of its Sub-custodian for its customers generally (Agency Accounts). Such Agency Accounts shall be deposit obligations of the Sub-custodian, and shall be treated as an Investment of a Fund. Accordingly, the Custodian shall be responsible for exercising reasonable care with respect to such Agency Accounts but shall not be liable for their value in the event of such Sub-custodian's bankruptcy or insolvency, or the Sub-Custodian otherwise fails to remit the cash in such Agency Account through no fault of the Custodian, except where the Custodian has acted with negligence or willful misconduct in the selection, administration, or oversight of such Sub-custodian.

Types of Accounts. Cash accounts opened on the books of the Custodian (Principal Accounts) shall be opened in the name of a Fund, and if applicablethe Trust, coupled with the name of such the relevant Fund. The Custodian shall hold all cash received by it in such Principal Accounts for the account of a Fund or such the Fund in accordance with Rule 17f-3 under the 1940 Act. Each such Principal Account Such accounts collectively shall be a deposit obligation of the Custodian and shall be subject to the terms of this Section 7 and the general liability provisions contained in this Agreement. Cash accounts opened on the books of a Sub-custodian may be opened in the same manner as name of the Trust coupled with the Custodian name of the applicable Fund or in the name of the Sub-custodian or in for the name benefit of its Sub-custodian for its customers generally the Trust and/or Fund (Agency Accounts). Such Agency Accounts deposits shall be deposit obligations of the Sub-custodian, and shall be treated as an Investment of a Fundthe Trust. Accordingly, the Custodian shall be responsible for exercising reasonable care with respect to in the administration of such Agency Accounts accounts, but shall not be liable for their value repayment in the event of such Sub-custodian's bankruptcy custodian by reason of its bankruptcy, insolvency or insolvencyotherwise, or the Sub-Custodian otherwise fails to remit the cash in such Agency Account make repayment through no fault of the Custodian, except where Custodian if the Custodian has was directed to appoint the Sub-Custodian by the Trust or Custodian can demonstrate that it acted with negligence or willful misconduct in a commercially reasonable manner in the selection, administration, or oversight selection and ongoing monitoring of any such Sub-custodianCustodian.