Common use of Use of Depository Clause in Contracts

Use of Depository. The Custodian may deposit all or any part of the securities owned by the Fund in a (a) clearing agency registered with the Securities and Exchange Commission under Section 17A of the Securities Exchange Act of 1934 which acts as a securities depository, or (b) the book-entry system as provided in Subpart O of Treasury Circular Xx. 000, 00 XXX 000, Xxxxxxx X of 00 XXX 000, and the book-entry regulations of federal agencies substantially in the form of Subpart O, (hereinafter referred to as "Depository") in accordance with the provisions of Rule 17f-4 under the Investment Company Act of 1940, or the applicable provisions of a comparable rule adopted by the Securities and Exchange Commission, and this Agreement. The Custodian shall establish, for the participation of the Fund, an account at the Depository which shall not include any assets held by the Custodian other than as a fiduciary, custodian or otherwise for customers. The Custodian shall send the Fund confirmation of any transfers to or from the account of the Fund including those where the transaction takes place by book entry at the Depository and shall identify securities held by the Depository belonging to the Fund. Upon request, the Custodian shall also provide the Fund with any report obtained by the Custodian on the Depository's system of internal accounting control and such reports on the Custodian's own system of internal accounting control as the Fund may reasonably require. The Custodian shall indemnify the Fund for any loss or damage resulting from the use of the Depository arising by reason of any negligence, misfeasance or misconduct of the Custodian or its employees or agents or from a failure of the Custodian to enforce effectively such rights as it may have against the Depository.

Use of Depository. The Custodian may deposit all or any part of the securities owned by the Fund in a (a) clearing agency registered with the Securities and Exchange Commission under Section 17A of the Securities Exchange Act of 1934 which acts as a securities depository, or (b) the book-entry system as provided in Subpart O of Treasury Circular Xx. 000, 00 XXX 000, Xxxxxxx X of 00 XXX 000, and the book-entry regulations of federal agencies substantially in the form of Subpart O, (hereinafter referred to as "Depository") in accordance with the provisions of Rule 17f-4 under the Investment Company Act of 1940, or the applicable provisions of a comparable rule adopted by the Securities and Exchange Commission, and this Agreement. The Custodian shall establish, for the participation of each Portfolio of the Fund, an account at the Depository which shall not include any assets held by the Custodian other than as a fiduciary, custodian or otherwise for customers. The Custodian shall send the Fund confirmation of any transfers to or from the account of each such Portfolio of the Fund including those where the transaction takes place by book entry at the Depository and shall identify securities held by the Depository belonging to each such Portfolio of the Fund. Upon request, the Custodian shall also provide the Fund with any report obtained by the Custodian on the Depository's system of internal accounting control and such reports on the Custodian's own system of internal accounting control as the Fund may reasonably require. The Custodian shall indemnify the Fund for any loss or damage resulting from the use of the Depository arising by reason of any negligence, misfeasance or misconduct of the Custodian or its employees or agents or from a failure of the Custodian to enforce effectively such rights as it may have against the Depository.

Use of Depository. The Custodian may deposit all or any part of the securities owned by the Fund in a (a) clearing agency registered with the Securities and Exchange Commission under Section 17A of the Securities Exchange Act of 1934 which acts as a securities depository, or (b) the book-entry system as provided in Subpart O of Treasury Circular Xx. 000, 00 XXX 000, Xxxxxxx X of 00 XXX 000, and the book-entry regulations of federal agencies substantially in the form from of Subpart O, (hereinafter referred to as "Depository") in accordance with the provisions of Rule 17f-4 under the Investment Company Act of 1940, or the applicable provisions of a comparable rule adopted by the Securities and Exchange Commission, and this Agreement. The Custodian shall establish, for the participation of each Portfolio of the Fund, an account at the Depository which shall not include any assets held by the Custodian other than as a fiduciary, custodian or otherwise for customers. The Custodian shall send the Fund confirmation of any transfers to or from the account of each such Portfolio of the Fund including those where the transaction takes place by book entry at the Depository and shall identify securities held by the Depository belonging to each such Portfolio of the Fund. Upon request, the The Custodian shall also provide the Fund with any report obtained by the Custodian on the Depository's system of internal accounting control and such reports on the Custodian's own system of internal accounting control as the Fund may reasonably require. The Custodian shall indemnify the Fund for any loss or damage resulting from the use of the Depository arising by reason of any negligence, misfeasance or misconduct of the Custodian or its employees or agents or from a failure of the Custodian to enforce effectively such rights as it may have against the Depository.