Common use of Use of Securities Depository or Book-Entry System Clause in Contracts

Use of Securities Depository or Book-Entry System. The Fund shall deliver to Chase a certified resolution of the Board of Trustees of the Fund approving, authorizing and instructing Chase on a continuous and ongoing basis until instructed to the contrary by Proper Instructions actually received by Chase (i) to deposit in a Securities Depository or Book-Entry System all securities of the Fund eligible for deposit therein and (ii) to utilize a Securities Depository or Book-Entry System to the extent possible in connection with the performance of its duties hereunder, including without limitation settlements of purchases and sales of securities by the Fund, and deliveries and returns of securities collateral in connection with borrowings. Without limiting the generality of such use, it is agreed that the following provisions shall apply thereto: (a) Securities and any cash of the Fund deposited in a Securities Depository or Book-Entry System will at all times (1) be represented in an account of Chase in the Securities Depository or Book Entry System (the "Account") and (2) be segregated from any assets and cash controlled by Chase in other than a fiduciary or custodian capacity but may be commingled with other assets held in such capacities. Chase will effect payment for securities and receive and deliver securities in accordance with accepted industry practices as set forth in (b) below, unless the Fund has given Chase Proper Instructions to the contrary. The records of Chase with respect to securities of the Fund maintained in a Securities Depository or Book Entry System shall identify by book entry those securities belonging to the Fund. (b) Chase shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of Chase to reflect such payment and transfer for the account of the Fund. Upon receipt of Proper Instructions, Chase shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of Chase to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities Depository or Book Entry System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by Chase and be provided to the Fund at its request. Upon request, Chase shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in a Securities Depository or Book Entry System for the account of the Fund. (c) Chase shall provide the Fund with any report obtained by Chase on the Securities Depository or Book Entry System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities Depository or Book Entry System. (d) All Books and records maintained by Chase which relate to the Fund participation in a Securities Depository or Book-Entry System will at all times during Chase's regular business hours be open to the inspection of the Fund's duly authorized employees or agents, and the Fund will be furnished with all information in respect of the services rendered to it as it may require. (e) Anything to the contrary in this Agreement notwithstanding, Chase shall be liable to the Fund for any loss or damage to the Fund resulting from any negligence, misfeasance or misconduct of Chase or any of its agents or of any of its or their employees in connection with its or their use of the Securities Depository or Book Entry Systems or from failure of Chase or any such agent to enforce effectively such rights as it may have against such Securities Depository or Book Entry System.

Use of Securities Depository or Book-Entry System. The Fund shall deliver to Chase U.S. Trust a certified resolution of the Board of Trustees Directors of the Fund approving, authorizing and instructing Chase U.S. Trust on a continuous and ongoing basis until instructed to the contrary by Proper Instructions actually received by Chase U.S. Trust (i) to deposit in a Securities Depository or Book-Entry System all securities of the Fund eligible for deposit therein and (ii) to utilize a Securities Depository or Book-Entry System to the extent possible in connection with the performance of its duties hereunder, including without limitation settlements of purchases and sales of securities by the Fund, and deliveries and returns of securities collateral in connection with borrowings. Without limiting the generality of such use, it is agreed that the following provisions shall apply thereto: (a) Securities and any cash of the Fund deposited in a Securities Depository or Book-Entry System will at all times (1) be represented in an account of Chase U.S. Trust in the Securities Depository or Book Entry System (the "Account") and (2) be segregated from any assets and cash controlled by Chase U.S. Trust in other than a fiduciary or custodian capacity but may be commingled with other assets held in such capacities. Chase U.S. Trust will effect payment for securities and receive and deliver securities in accordance with accepted industry practices as set forth in (b) below, unless the Fund has given Chase U.S. Trust Proper Instructions to the contrary. The records of Chase U.S. Trust with respect to securities of the Fund maintained in a Securities Depository or Book Entry System shall identify by book book-entry those securities belonging to the Fund. (b) Chase U.S. Trust shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of Chase U.S. Trust to reflect such payment and transfer for the account of the Fund. Upon receipt of Proper Instructions, Chase U.S. Trust shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of Chase U.S. Trust to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities Depository or Book Entry System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by Chase U.S. Trust and be provided to the Fund at its request. Upon request, Chase U.S. Trust shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in a Securities Depository or Book Entry System for the account of the Fund. (c) Chase U.S. Trust shall provide the Fund with any report obtained by Chase U.S. Trust on the Securities Depository or Book Entry System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities Depository or Book Entry System.; (d) All Books and records maintained by Chase U.S. Trust which relate to the Fund participation in a Securities Depository or Book-Entry System will at all times during ChaseU.S. Trust's regular business hours be open to the inspection of the Fund's duly authorized employees or agents, and the Fund will be furnished with all information in respect of the services rendered to it as it may require. (e) Anything to the contrary in this Agreement notwithstanding, Chase U.S. Trust shall be liable to the Fund for any loss or damage to the Fund resulting from any negligence, misfeasance or misconduct of Chase U.S. Trust or any of its agents or of any of its or their employees in connection with its or their use of the Securities Depository or Book Entry Systems or from failure of Chase U.S. Trust or any such agent to enforce effectively such rights as it may have against such Securities Depository or Book Entry System; at the election of the Fund, it shall be entitled to be subrogated to the rights of U.S. Trust with respect to any claim against the Securities Depository or Book Entry System or any other person which U.S. Trust may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.

Use of Securities Depository or Book-Entry System. The Fund shall deliver to Chase U.S. Trust a certified resolution of the Board of Trustees Directors of the Fund approving, authorizing and instructing Chase U.S. Trust on a continuous and ongoing basis until instructed to the contrary by Proper Instructions actually received by Chase U.S. Trust (i) to deposit in a Securities Depository or Book-Entry System all securities of the Fund eligible for deposit therein and (ii) to utilize a Securities Depository or Book-Entry System to the extent possible in connection with the performance of its duties hereunder, including without limitation settlements of purchases and sales of securities by the Fund, and deliveries and returns of securities collateral in connection with borrowings. Without limiting the generality of such use, it is agreed that the following provisions shall apply thereto: (a) Securities and any cash of the Fund deposited in a Securities Depository or Book-Entry System will at all times (1) be represented in an account of Chase U.S. Trust in the Securities Depository or Book Entry System (the "Account") and (2) be segregated from any assets and cash controlled by Chase U.S. Trust in other than a fiduciary or custodian capacity but may be commingled with other assets held in such capacities. Chase U.S. Trust will effect payment for securities and receive and deliver securities in accordance with accepted industry practices as set forth in (b) below, unless the Fund has given Chase U.S. Trust Proper Instructions to the contrary. The records of Chase U.S. Trust with respect to securities of the Fund maintained in a Securities Depository or Book Entry System shall identify by book book-entry those securities belonging to the Fund. (b) Chase U.S. Trust shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of Chase U.S. Trust to reflect such payment and transfer for the account of the Fund. Upon receipt of Proper Instructions, Chase U.S. Trust shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of Chase U.S. Trust to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities Depository or Book Entry System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by Chase U.S. Trust and be provided to the Fund at its request. Upon request, Chase U.S. Trust shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in a Securities Depository or Book Entry System for the account of the Fund. (c) Chase U.S. Trust shall provide the Fund with any report obtained by Chase U.S. Trust on the Securities Depository or Book Entry System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities Depository or Book Entry System. ; (d) All Books and records maintained by Chase U.S. Trust which relate to the Fund participation in a Securities Depository or Book-Entry System will at all times during ChaseU.S. Trust's regular business hours be open to the inspection of the Fund's duly authorized employees or agents, and the Fund will be furnished with all information in respect of the services rendered to it as it may require. (e) Anything to the contrary in this Agreement notwithstanding, Chase shall be liable to the Fund for any loss or damage to the Fund resulting from any negligence, misfeasance or misconduct of Chase or any of its agents or of any of its or their employees in connection with its or their use of the Securities Depository or Book Entry Systems or from failure of Chase or any such agent to enforce effectively such rights as it may have against such Securities Depository or Book Entry System.

Use of Securities Depository or Book-Entry System. The Fund shall ------------------------------------------------- deliver to The Chase Manhattan Bank a certified resolution of the Board of Trustees of the Fund approving, authorizing and instructing The Chase Manhattan Bank on a continuous and ongoing basis until instructed to the contrary by Proper Instructions actually received by The Chase Manhattan Bank (i) to deposit in a Securities Depository or Book-Entry System all securities of the Fund eligible for deposit therein and (ii) to utilize a Securities Depository or Book-Entry System to the extent possible in connection with the performance of its duties hereunder, including without limitation settlements of purchases and sales of securities by the Fund, and deliveries and returns of securities collateral in connection with borrowings. Without limiting the generality of such use, it is agreed that the following provisions shall apply thereto: (a) Securities and any cash of the Fund deposited in a Securities Depository or Book-Entry System will at all times (1) be represented in an account of The Chase Manhattan Bank in the Securities Depository or Book Entry System (the "Account") and (2) be segregated from any assets and cash controlled by The Chase Manhattan Bank in other than a fiduciary or custodian capacity but may be commingled with other assets held in such capacities. The Chase Manhattan Bank will effect payment for securities and receive and deliver securities in accordance with accepted industry practices as set forth in (b) below, unless the Fund has given 9 The Chase Manhattan Bank Proper Instructions to the contrary. The records of The Chase Manhattan Bank with respect to securities of the Fund maintained in a Securities Depository or Book Entry System shall identify by book entry those securities belonging to the Fund. (b) The Chase Manhattan Bank shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of The Chase Manhattan Bank to reflect such payment and transfer for the account of the Fund. Upon receipt of Proper Instructions, The Chase Manhattan Bank shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of The Chase Manhattan Bank to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities Depository or Book Entry System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by The Chase Manhattan Bank and be provided to the Fund at its request. Upon request, The Chase Manhattan Bank shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in a Securities Depository or Book Entry System for the account of the Fund. (c) The Chase Manhattan Bank shall provide the Fund with any report obtained by The Chase Manhattan Bank on the Securities Depository or Book Entry System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities Depository or Book Entry System.; (d) All Books and records maintained by The Chase Manhattan Bank which relate to the Fund participation in a Securities Depository or Book-Entry System will at all times during ChaseThe Chase Manhattan Bank's regular business hours be open to the inspection of the Fund's duly authorized employees or agents, and the Fund will be furnished with all information in respect of the services rendered to it as it may require. (e) Anything to the contrary in this Agreement notwithstanding, The Chase Manhattan Bank shall be liable to the Fund for any loss or damage to the Fund resulting from any negligence, misfeasance or misconduct of The Chase Manhattan Bank or any of its agents or of any of its or their employees in connection with its or their use of the Securities Depository or Book Entry Systems or from failure of The Chase Manhattan Bank or any such agent to enforce effectively such rights as it may have against such Securities Depository or Book Entry System; at the election of the Fund, it shall be entitled to be subrogated to the rights of The Chase Manhattan Bank with respect to any claim against the Securities Depository or Book Entry System or any other person which The Chase Manhattan Bank may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.

Use of Securities Depository or Book-Entry System. The Fund shall deliver to Chase The Trust Company a certified resolution of the Board of Trustees of the Fund approving, authorizing and instructing Chase The Trust Company on a continuous and ongoing basis until instructed to the contrary by Proper Instructions actually received by Chase The Trust Company (i) to deposit in a Securities Depository or Book-Book- Entry System all securities of the Fund eligible for deposit therein and (ii) to utilize a Securities Depository or Book-Entry System to the extent possible in connection with the performance of its duties hereunder, including without limitation settlements of purchases and sales of securities by the Fund, and deliveries and returns of securities collateral in connection with borrowings. Without limiting the generality of such use, it is agreed that the following provisions shall apply thereto: (a) Securities and any cash of the Fund deposited in a Securities Depository or Book-Entry System will at all times (1) be represented in an account of Chase The Trust Company in the Securities Depository or Book Entry System (the "Account") and (2) be segregated from any assets and cash controlled by Chase The Trust Company in other than a fiduciary or custodian capacity but may be commingled with other assets held in such capacities. Chase The Trust Company will effect payment for securities and receive and deliver securities in accordance with accepted industry practices as set forth in (b) below, unless the Fund has given Chase The Trust Company Proper Instructions to the contrary. The records of Chase The Trust Company with respect to securities of the Fund maintained in a Securities Depository or Book Entry System shall identify by book book-entry those securities belonging to the Fund. (b) Chase The Trust Company shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of Chase The Trust Company to reflect such payment and transfer for the account of the Fund. Upon receipt of Proper Instructions, Chase The Trust Company shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of Chase The Trust Company to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities Depository or Book Entry System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by Chase The Trust Company and be provided to the Fund at its request. Upon request, Chase The Trust Company shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each that day's transactions in a Securities Depository or Book Entry System for the account of the Fund. (c) Chase The Trust Company shall provide the Fund with any report obtained by Chase The Trust Company on the Securities Depository or Book Entry System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities Depository or Book Entry System.; (d) All Books and records maintained by Chase The Trust Company which relate to the Fund participation in a Securities Depository or Book-Entry System will at all times during ChaseThe Trust Company's regular business hours be open to the inspection of the Fund's duly authorized employees or agents, and the Fund will be furnished with all information in respect of the services rendered to it as it may require. (e) Anything to the contrary in this Agreement notwithstanding, Chase The Trust Company shall be liable to the Fund for any loss or damage to the Fund resulting from any negligence, misfeasance or misconduct of Chase The Trust Company or any of its agents or of any of its or their employees in connection with its or their use of the Securities Depository or Book Entry Systems or from failure of Chase The Trust Company or any such agent to enforce effectively such rights as it may have against such Securities Depository or Book Entry System; at the election of the Fund, it shall be entitled to be subrogated to the rights of The Trust Company with respect to any claim against the Securities Depository or Book Entry System or any other person which The Trust Company may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.

Use of Securities Depository or Book-Entry System. The Fund shall deliver to Chase U.S. Trust a certified resolution of the Board of Trustees Directors of the Fund approving, authorizing and instructing Chase U.S. Trust on a continuous and ongoing basis until instructed to the contrary by Proper Instructions actually received by Chase U.S. Trust (i) to deposit in a Securities Depository or Book-Entry System all securities of the Fund eligible for deposit therein and (ii) to utilize a Securities Depository or Book-Entry System to the extent possible in connection with the performance of its duties hereunder, including without limitation settlements of purchases and sales of securities by the Fund, and deliveries and returns of securities collateral in connection with borrowings. Without limiting the generality of such use, it is agreed that the following provisions shall apply thereto: (a) Securities and any cash of the Fund deposited in a Securities Depository or Book-Entry System will at all times (1) be represented in an account of Chase U.S. Trust in the Securities Depository or Book Entry System (the "Account") and (2) be segregated from any assets and cash controlled by Chase U.S. Trust in other than a fiduciary or custodian capacity but may be commingled with other assets held in such capacities. Chase U.S. Trust will effect payment for securities and receive and deliver securities in accordance with accepted industry practices as set forth in (b) below, unless the Fund has given Chase U.S. Trust Proper Instructions to the contrary. The records of Chase U.S. Trust with respect to securities of the Fund maintained in a Securities Depository or Book Entry System shall identify by book book-entry those securities belonging to the Fund. (b) Chase U.S. Trust shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of Chase U.S. Trust to reflect such payment and transfer for the account of the Fund. Upon receipt of Proper Instructions, Chase U.S. Trust shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of Chase U.S. Trust to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities Depository or Book Entry System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by Chase U.S. Trust and be provided to the Fund at its request. Upon request, Chase U.S. Trust shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in a Securities Depository or Book Entry System for the account of the Fund. (c) Chase U.S. Trust shall provide the Fund with any report obtained by Chase U.S. Trust on the Securities Depository or Book Entry System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities Depository or Book Entry System.; (d) U.S. Trust shall have received the initial or annual certificate, as the case may be, required by Section 26 hereof; (e) All Books and records maintained by Chase U.S. Trust which relate to the Fund participation in a Securities Depository or Book-Entry System will at all times during ChaseU.S. Trust's regular business hours be open to the inspection of the Fund's duly authorized employees or agents, and the Fund will be furnished with all information in respect of the services rendered to it as it may require. (ef) Anything to the contrary in this Agreement notwithstanding, Chase U.S. Trust shall be liable to the Fund for any loss or damage to the Fund resulting from any negligence, misfeasance or misconduct of Chase U.S. Trust or any of its agents or of any of its or their employees in connection with its or their use of the Securities Depository or Book Entry Systems or from failure of Chase U.S. Trust or any such agent to enforce effectively such rights as it may have against such Securities Depository or Book Entry System; at the election of the Fund, it shall be entitled to be subrogated to the rights of U.S. Trust with respect to any claim against the Securities Depository or Book Entry System or any other person which U.S. Trust may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.

Use of Securities Depository or Book-Entry System. The Fund shall deliver to Chase a certified resolution of the Board of Trustees Directors of the Fund approving, authorizing and instructing Chase on a continuous and ongoing basis until instructed to the contrary by Proper Instructions actually received by Chase (i) to deposit in a Securities Depository or Book-Entry System all securities of the Fund eligible for deposit therein and (ii) to utilize a Securities Depository or Book-Entry System to the extent possible in connection with the performance of its duties hereunder, including without limitation settlements of purchases and sales of securities by the Fund, and deliveries and returns of securities collateral in connection with borrowings. Without limiting the generality of such use, it is agreed that the following provisions shall apply thereto: (a) Securities and any cash of the Fund deposited in a Securities Depository or Book-Entry System will at all times (1) be represented in an account of Chase in the Securities Depository or Book Entry System (the "Account") and (2) be segregated from any assets and cash controlled by Chase in other than a fiduciary or custodian capacity but may be commingled with other assets held in such capacities. Chase will effect payment for securities and receive and deliver securities in accordance with accepted industry practices as set forth in (b) below, unless the Fund has given Chase Proper Instructions to the contrary. The records of Chase with respect to securities of the Fund maintained in a Securities Depository or Book Entry System shall identify by book entry those securities belonging to the Fund. (b) Chase shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of Chase to reflect such payment and transfer for the account of the Fund. Upon receipt of Proper Instructions, Chase shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of Chase to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities Depository or Book Entry System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by Chase and be provided to the Fund at its request. Upon request, Chase shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in a Securities Depository or Book Entry System for the account of the Fund. (c) Chase shall provide the Fund with any report obtained by Chase on the Securities Depository or Book Entry System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities Depository or Book Entry System.; (d) All Books and records maintained by Chase which relate to the Fund participation in a Securities Depository or Book-Entry System will at all times during Chase's regular business hours be open to the inspection of the Fund's duly authorized employees or agents, and the Fund will be furnished with all information in respect of the services rendered to it as it may require. (e) Anything to the contrary in this Agreement notwithstanding, Chase shall be liable to the Fund for any loss or damage to the Fund resulting from any negligence, misfeasance or misconduct of Chase or any of its agents or of any of its or their employees in connection with its or their use of the Securities Depository or Book Entry Systems or from failure of Chase or any such agent to enforce effectively such rights as it may have against such Securities Depository or Book Entry System; at the election of the Fund, it shall be entitled to be subrogated to the rights of Chase with respect to any claim against the Securities Depository or Book Entry System or any other person which Chase may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.

Use of Securities Depository or Book-Entry System. The Fund shall deliver to Chase a certified resolution of the Board of Trustees Directors of the Fund approving, authorizing and instructing Chase on a continuous and ongoing basis until instructed to the contrary by Proper Instructions actually received by Chase (i) to deposit in a Securities Depository or Book-Entry System all securities of the Fund eligible for deposit therein and (ii) to utilize a Securities Depository or Book-Entry System to the extent possible in connection with the performance of its duties hereunder, including without limitation settlements of purchases and sales of securities by the Fund, and deliveries and returns of securities collateral in connection with borrowings. Without limiting the generality of such use, it is agreed that the following provisions shall apply thereto: (a) Securities and any cash of the Fund deposited in a Securities Depository or Book-Entry System will at all times (1) be represented in an account of Chase in the Securities Depository or Book Entry System (the "Account") and (2) be segregated from any assets and cash controlled by Chase in other than a fiduciary or custodian capacity but may be commingled with other assets held in such capacities. Chase will effect payment for securities and receive and deliver securities in accordance with accepted industry practices as set forth in (b) below, unless the Fund has given Chase Proper Instructions to the contrary. The records of Chase with respect to securities of the Fund maintained in a Securities Depository or Book Entry System shall identify by book entry those securities belonging to the Fund. (b) Chase shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of Chase to reflect such payment and transfer for the account of the Fund. Upon receipt of Proper Instructions, Chase shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities Depository or Book Entry System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of Chase to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities Depository or Book Entry System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by Chase and be provided to the Fund at its request. Upon request, Chase shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in a Securities Depository or Book Entry System for the account of the Fund. (c) Chase shall provide the Fund with any report obtained by Chase on the Securities Depository or Book Entry System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities Depository or Book Entry System. (d) All Books and records maintained by Chase which relate to the Fund participation in a Securities Depository or Book-Entry System will at all times during Chase's regular business hours be open to the inspection of the Fund's duly authorized employees or agents, and the Fund will be furnished with all information in respect of the services rendered to it as it may require. (e) Anything to the contrary in this Agreement notwithstanding, Chase shall be liable to the Fund for any loss or damage to the Fund resulting from any negligence, misfeasance or misconduct of Chase or any of its agents or of any of its or their employees in connection with its or their use of the Securities Depository or Book Entry Systems or from failure of Chase or any such agent to enforce effectively such rights as it may have against such Securities Depository or Book Entry System.