Common use of U.S Clause in Contracts

U.S. Trust shall transmit promptly to the Fund all written information (including, without limitation, pendency of calls and maturities of securities and expirations of rights in connection therewith and notices of exercise of call and put options written by the Fund and the maturity of futures contracts purchased or sold by the Fund) received by U.S. Trust from issuers of the securities being held for the Fund. With respect to tender or exchange offers, U.S. Trust shall transmit promptly by facsimile to the Fund all written information received by U.S. Trust from issuers of the securities whose tender or exchange is sought and from the party (or his agents) making the tender or exchange offer. If the Fund desires to take action with respect to any tender offer, exchange offer or any other similar transaction, the Fund shall notify U.S. Trust at least three business days prior to the date on which U.S. Trust is to take such action or upon the date such notification is first received by the Fund, if later. If any Property registered in the name of a nominee of U.S. Trust is called for partial redemption by the issuer of such property, U.S. Trust is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by U.S. Trust in its sole discretion.