Common use of Use of Subcustodian Clause in Contracts

Use of Subcustodian. With respect to Property in an Account that is maintained by the Bank through a Subcustodian employed pursuant to Section 4: (a) The Bank will identify on its books as belonging to Forum on behalf of a Portfolio, any Property maintained through such Subcustodian. (b) Any Property in the Account held by a Subcustodian will be subject only to the instructions of the Bank or its agents. (c) Property deposited with a Subcustodian will be maintained in an account holding only assets for clients of the Bank. (d) Any agreement the Bank shall enter into with a non-U.S. Subcustodian with respect to maintaining Property shall require that (i) the Account will be adequately indemnified or its losses adequately insured; (ii) the Securities so maintained are not subject to any right, charge, security interest, lien or claim of any kind in favor of such Subcustodian or its creditors except a claim for payment in accordance with such agreement for their safe custody or administration; (iii) beneficial ownership of such Securities be freely transferable without the payment of money or value other than for safe custody or administration; (iv) adequate records will be maintained identifying the Property maintained pursuant to such Agreement as belonging to the Bank, on behalf of its clients; (v) to the extent permitted by applicable law, officers of or auditors employed by, or other representatives of or designated by, the Bank including the independent public accountants of or designated by, Forum be given access to the books and records of such Subcustodian relating to Property or confirmation of the contents of those records; and (vi) the Bank on behalf of Forum will receive periodic reports with respect to the safekeeping of the Property, including but not limited to notification of any transfer of Property into or out of an Account.

Use of Subcustodian. With respect to Property in an Account that is maintained by the Bank through a Subcustodian employed pursuant to Section 4: (a) The Bank will identify on its books as belonging to Forum on behalf of a Portfolio, any Property maintained through such Subcustodian. (b) Any Property in the Account held by a Subcustodian will be subject only to the instructions of the Bank or its agents. (c) Property deposited with a Subcustodian will be maintained in an account holding only assets for clients Forums of the BankCustodian. (d) Any agreement the Bank shall enter into with a non-U.S. Subcustodian with respect to maintaining Property shall require that (i) the Account will be adequately indemnified or its losses adequately insured; (ii) the Securities so maintained are not subject to any right, charge, security interest, lien or claim of any kind in favor of such Subcustodian or its creditors except a claim for payment in accordance with such agreement for their safe custody or administration; (iii) beneficial ownership of such Securities be freely transferable without the payment of money or value other than for safe custody or administration; (iv) adequate records will be maintained identifying the Property maintained pursuant to such Agreement as belonging to the BankCustodian, on behalf of its clientsForums; (v) to the extent permitted by applicable law, officers of or auditors employed by, or other representatives of or designated by, the Bank including the independent public accountants of or designated by, Forum be given access to the books and records of such Subcustodian relating to Property or confirmation of the contents of those records; and (vi) the Bank on behalf of Forum will receive periodic reports with respect to the safekeeping of the Property, including but not limited to notification of any transfer of Property into or out of an Account.

Use of Subcustodian. With respect to Property in an Account that is maintained by the Bank Forum through a Subcustodian employed pursuant to Section 4: (a) The Bank Forum will identify on its books as belonging to Forum Trust on behalf of a Portfolio, any Property maintained through such Subcustodian. (b) Any Property in the Account held by a Subcustodian will be subject only to the instructions of the Bank Forum or its agents. (c) Property deposited with a Subcustodian will be maintained in an account holding only assets for clients customer of the BankForum. (d) Any agreement the Bank Forum shall enter into with a non-U.S. Subcustodian with respect to maintaining Property shall require that (i) the Account will be adequately indemnified or its losses adequately insured; (ii) the Securities Property so maintained are is not subject to any right, charge, security interest, lien or claim of any kind in favor of such Subcustodian or its creditors except a claim for payment in accordance with such agreement for their its safe custody or administration; (iii) beneficial ownership of such Securities be freely transferable without the payment of money or value other than for safe custody or administration; (iv) adequate records will be maintained identifying the Property maintained pursuant to such Agreement as belonging to the BankTrust or as being held by Forum, on behalf of Trust or all its clientscustomers; (v) to the extent permitted by applicable law, officers of or auditors employed by, or other representatives of or designated by, the Bank Forum, including the independent public accountants of or designated by, Forum Trust be given access to the books and records of such Subcustodian relating to Property or confirmation of the contents of those records; and (vi) the Bank Forum on behalf of Forum Trust will receive periodic reports with respect to the safekeeping of the Property, including but not limited to notification of any transfer of Property into or out of an Account.