Common use of Use of Subcustodians Clause in Contracts

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and the rules promulgated by the Securities and Exchange Commission thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange Commission. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Section, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Section, rules, order or no-action letter, the requirements of such Section, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States U.S. banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States U.S. banks or bank holding companies, ; or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" ") or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 (the "1940 Act") and the rules promulgated by the Securities and Exchange Commission (the "SEC") thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange CommissionSEC. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Section, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Sectionsection, rules, order or no-action letter, the requirements of such Sectionsection, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and the rules promulgated by the Securities and Exchange Commission thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange Commission. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Section, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Section, rules, order or no-action letter, the requirements of such Section, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation Company of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and the rules promulgated by the Securities and Exchange Commission thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange Commission. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Section, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Section, rules, order or no-action letter, the requirements of such Section, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation Trust of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securitiessecurities or other instruments. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States U.S. banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States U.S. banks or bank holding companies, ; or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" ") or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 (the "1940 Act") and the rules promulgated by the Securities and Exchange Commission (the "SEC") thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange CommissionSEC. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Sectionsection, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Sectionsection, rules, order or no-action letter, the requirements of such Sectionsection, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation Fund of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States U.S. banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States U.S. banks or bank holding companies, ; or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" ") or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 (the "1940 Act") and the rules promulgated by the Securities and Exchange Commission (the "SEC") thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange CommissionSEC. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Sectionsection, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Sectionsection, rules, order or no-action letter, the requirements of such Sectionsection, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation Fund of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, and as approved by the Corporation, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and the rules promulgated by the Securities and Exchange Commission thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange Commission. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Section, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Section, rules, order or no-action letter, the requirements of such Section, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodiansecurities and cash. The Custodian also may enter into arrangements for the custody of securities "Foreign Securities" and cash entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Eligible Foreign SubcustodianCustodian," or indirectly through an agent, established as those terms are defined by Rule 17f-5 under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and (the rules promulgated "Act"), or such other entity as permitted by the Securities and Exchange Commission thereunder(the "SEC") (such Eligible Foreign Custodians, any order issued collectively, "Foreign Custodial Agents") provided, if required by the Securities SEC, that the Board has given its prior approval to the use of, and Exchange CommissionCustodian's contract with, or any "no-action" letter received from each Foreign Custodial Agent by resolution, and a certified copy of such resolution has been provided to the staff of the Securities and Exchange CommissionCustodian. To the extent the existing provisions of the Custodian this Agreement are consistent with the requirements of such Sectionthe Act, rules, order orders or no-action letterletters of the SEC, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by the Act or such Section, rules, order orders or no-action letterletters, the requirements of the Act or such Section, rules, order orders or no-action letter letters will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation Trust of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions. All subcustodians of the Custodian (such subcustodians, collectively, the "Subcustodians"), including all Foreign Custodial Agents, shall be subject to the instructions of the Custodian and not to those of the Trust and shall act solely as agent of the Custodian.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodiansecurities and cash. The Custodian also may enter into arrangements for the custody of securities "Foreign Securities" and cash entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Eligible Foreign SubcustodianCustodian," or indirectly through an agent, established as those terms are defined by Rule 17f-5 under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and (the rules promulgated "Act"), or such other entity as permitted by the Securities and Exchange Commission thereunder(the "SEC") (such Eligible Foreign Custodians, any order issued collectively, "Foreign Custodial Agents") provided, if required by the Securities SEC, that the Board has given its prior approval to the use of, and Exchange CommissionCustodian's contract with, or any "no-action" letter received from each Foreign Custodial Agent by resolution, and a certified copy of such resolution has been provided to the staff of the Securities and Exchange CommissionCustodian. To the extent the existing provisions of the Custodian this Agreement are consistent with the requirements of such Sectionthe Act, rules, order orders or no-action letterletters of the SEC, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by the Act or such Section, rules, order orders or no-action letterletters, the requirements of the Act or such Section, rules, order orders or no-action letter letters will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions. All subcustodians of the Custodian (such subcustodians, collectively, the "Subcustodians"), including all Foreign Custodial Agents, shall be subject to the instructions of the Custodian and not to those of the Corporation and shall act solely as agent of the Custodian.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States U.S. banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States U.S. banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" ") or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 (the "1940 Act") and the rules promulgated by the Securities and Exchange Commission ("SEC") thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange CommissionSEC. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Section, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Section, rules, order or no-action letter, the requirements of such Section, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation Fund of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, and as approved by the Company, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" ") or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and the rules promulgated by the United States Securities and Exchange Commission thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange Commission. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Sectionsection, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Sectionsection, rules, order or no-action letter, the requirements of such Sectionsection, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation Company of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other national banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" ") or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and the rules promulgated by the United States Securities and Exchange Commission ("SEC") thereunder, any order issued by the Securities and Exchange CommissionSEC, or any "no-action" letter received from the staff of the Securities and Exchange CommissionSEC. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Sectionsection, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Sectionsection, rules, order or no-action letter, the requirements of such Sectionsection, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation Trust of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States U.S. banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States U.S. banks or bank holding companies, ; or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" ") or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company 1940 Act of 1940 and the rules promulgated by the Securities and Exchange Commission (the "SEC") thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange CommissionSEC. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Section, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Sectionsection, rules, order or no-action letter, the requirements of such Sectionsection, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation Trust of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, and as approved by the Corporation, with other national banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and the rules promulgated by the Securities and Exchange Commission thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange Commission. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Section, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Section, rules, order or no-action letter, the requirements of such Section, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.

Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodiansecurities and cash. The Custodian also may enter into arrangements for the custody of securities "Foreign Securities" and cash entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the an "Eligible Foreign SubcustodianCustodian," or indirectly through an agent, established as those terms are defined by Rule 17f-5 under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and (the rules promulgated "Act"), or such other entity as permitted by the Securities and Exchange Commission thereunder(the "SEC") (such Eligible Foreign Custodians, any order issued collectively, "Foreign Custodial Agents") provided, if required by the Securities SEC, that the Board has given its prior approval to the use of, and Exchange CommissionCustodian's contract with, or any "no-action" letter received from each Foreign Custodial Agent by resolution, and a certified copy of such resolution has been provided to the staff of the Securities and Exchange CommissionCustodian. To the extent the existing provisions of the Custodian this Agreement are consistent with the requirements of such Sectionthe Act, rules, order orders or no-action letterletters of the SEC, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by the Act or such Section, rules, order orders or no-action letterletters, the requirements of the Act or such Section, rules, order orders or no-action letter letters will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions. All subcustodians of the Custodian (such subcustodians, collectively, the "Subcustodians"), including all Foreign Custodial Agents, shall be subject to the instructions of the Custodian and not to those of the Corporation and shall act solely as agent of the Custodian.