Common use of Types of Cash Accounts Clause in Contracts

Types of Cash Accounts. Cash accounts opened on the books of the Custodian (Principal Accounts) shall be opened in the name of the Fund, on behalf of the applicable Portfolios. 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 Section 9. Cash accounts opened on the books of a Subcustodian may be opened in the name of the Fund, on behalf of the Portfolios, or in the name of the Custodian for the Fund or in the name of the Custodian for its customers generally, but reflected in the records of the Custodian as being held on deposit by the Subcustodian for the Fund or a Portfolio (Agency Accounts). Such deposits shall be obligations of the Subcustodian and shall be treated as an Investment of the Fund and the applicable Portfolios. Accordingly, the Custodian shall be responsible for exercising reasonable care in the administration of such accounts, but shall not be liable for their repayment in the event the Subcustodian, by reason of its bankruptcy, insolvency or otherwise, fails to make repayment. Nothing in this Section 7.1 shall relieve the Custodian of any responsibility it would otherwise have for selecting and monitoring Subcustodians.

Types of Cash Accounts. Cash accounts opened on the books of the Custodian (Principal Accounts) shall be opened in the name of the Fund, on behalf of the applicable Portfolios. 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 Section 9. Cash accounts opened on the books of a Subcustodian may be opened in the name of the Fund, on behalf of the Portfolios, Fund or in the name of the Custodian for the Fund or in the name of the Custodian for its customers generally, but reflected in the records of the Custodian as being held on deposit by the Subcustodian for the Fund or a Portfolio generally (Agency Accounts). Such deposits shall be obligations of the Subcustodian and shall be treated as an Investment of the Fund Fund. The appointment or use of such accounts shall not relieve the Custodian of its obligations under this Agreement, and the applicable Portfolios. Accordingly, specifically the Custodian shall be responsible for exercising using reasonable care in the administration of such accounts, but including without limitation in the selection and monitoring of such Subcustodians. Provided that the Custodian has complied with these obligations, the Custodian shall not be liable for their the repayment of balances in Agency Accounts in the event the Subcustodian, such Subcustodian fails to make repayment by reason of its bankruptcy, insolvency or otherwise, fails to make repayment. Nothing in this Section 7.1 shall relieve the Custodian of any responsibility it would otherwise have for selecting and monitoring Subcustodianssimilar cause.

Types of Cash Accounts. Cash accounts opened on the books of the Custodian (Principal Accounts) shall be opened in the name of the Fund, Fund on behalf of the applicable Portfoliosa Portfolio. 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 Section 9. Cash accounts opened on the books of a Subcustodian may be opened in the name of the Fund, Fund on behalf of the Portfolios, a Portfolio or in the name of the Custodian for the Fund on behalf of a Portfolio or in the name of the Custodian for its customers generally, but reflected in the records of the Custodian as being held on deposit by the Subcustodian for the Fund or a Portfolio generally (Agency Accounts). Such deposits shall be obligations of the Subcustodian and shall be treated as an Investment of the Fund and the applicable PortfoliosPortfolio. Accordingly, the Custodian shall be responsible for exercising reasonable care in the administration of such accounts, but and, without derogation of the Custodian’s obligation to use reasonable care in its selection and monitoring of Subcustodians hereunder, shall not be liable for their repayment in the event the Subcustodian, by reason of its bankruptcy, insolvency or otherwise, fails to make repayment. Nothing in this Section 7.1 shall relieve the Custodian of any responsibility it would otherwise have for selecting and monitoring Subcustodians.

Types of Cash Accounts. Cash accounts opened on the books of the Custodian (“Principal Accounts”) shall be opened in the name of the Fund, on behalf of the applicable Portfolioseach Portfolio. 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 Section 9. Cash accounts opened on the books of a Subcustodian may be opened in the name of the Fund, on behalf of the Portfolioseach Portfolio, or in the name of the Custodian for the Fund Fund, on behalf of each Portfolio, or in the name of the Custodian for its customers generally, but reflected in the records of the Custodian as being held on deposit by the Subcustodian for the Fund or a Portfolio generally (“Agency Accounts”). Such deposits shall be obligations of the Subcustodian and shall be treated as an Investment of the Fund and the applicable PortfoliosFund, on behalf of such Portfolio. Accordingly, the Custodian shall be responsible for exercising reasonable care care, in the administration of such accounts, but and, without derogation of the Custodian’s obligation to use reasonable care in its selection and monitoring of Subcustodians hereunder, shall not be liable for their repayment in the event the Subcustodian, by reason of its bankruptcy, insolvency or otherwise, fails to make repayment. Nothing in this Section 7.1 shall relieve the Custodian of any responsibility it would otherwise have for selecting and monitoring Subcustodians.

Types of Cash Accounts. Cash accounts opened on the books of the Custodian (“Principal Accounts”) shall be opened in the name of the Fund, on behalf of the applicable Portfolioseach Portfolio. 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 Section 9. Cash accounts opened on the books of a Subcustodian may be opened in the name of the Fund, on behalf of the Portfolioseach Portfolio, or in the name of the Custodian for the Fund Fund, on behalf of each Portfolio, or in the name of the Custodian for its customers generally, but reflected in the records of the Custodian as being held on deposit by the Subcustodian for the Fund or a Portfolio generally (“Agency Accounts"”). Such deposits shall be obligations of the Subcustodian and shall be treated as an Investment of the Fund and the applicable PortfoliosFund, on behalf of such Portfolio. Accordingly, the Custodian shall be responsible for exercising reasonable care in the administration of such accounts, but and, without derogation of the Custodian’s obligation to use reasonable care in its selection and monitoring of Subcustodians hereunder, shall not be liable for their repayment in the event the Subcustodian, by reason of its bankruptcy, insolvency or otherwise, fails to make repayment. Nothing in this Section 7.1 shall relieve the Custodian of any responsibility it would otherwise have for selecting and monitoring Subcustodians.