Common use of WHAT THE BANK IS REQUIRED TO DO Clause in Contracts

WHAT THE BANK IS REQUIRED TO DO. 2.1 Set Up Accounts (a) Bank shall keep safely the Financial Assets and cash of Customer that have been delivered to Bank from time to time, accept delivery of Financial Assets and cash of Customer for safekeeping and will establish and maintain the following accounts ("Accounts"): (i) one or more Securities Accounts in the name of Customer (or in another name requested by the Customer that is acceptable to Bank) for Financial Assets, which may be held by Bank or its Subcustodian or a Securities Depository for Bank on behalf of the Customer, including as an Entitlement Holder; and (ii) one or more accounts in the name of Customer (or in another name requested by the Customer that is acceptable to Bank) ("Cash Account") for any and all cash in any currency received by or on behalf of Bank for the account of Customer. Notwithstanding paragraph (ii), cash held in respect of those markets where Customer is required to have a cash account in its own name held directly with the relevant Subcustodian or Securities Depository will be held in that manner and will not be part of the Cash Account. (b) At the request of Customer, additional Accounts may be opened in the future, which will be subject to the terms of this Agreement. (c) Bank’s obligation to open Accounts pursuant to Section 2.1(a) is conditional upon Bank receiving such of the following documents as Bank may require: (i) a certified copy of the Customer's constitutional documents as currently in force; (ii) a certified copy of a resolution of the Customer's board of directors or equivalent governing body, substantially in the form set out in Schedule 4; (iii) Bank’s standard form fund manager mandate (in the form set out in Appendix A), completed by any persons designated in Schedule 3; and (iv) in the case of any Account opened in a name not that of the Customer, documentation with respect to that name similar to that set forth in sub-sections (i) – (iii).

WHAT THE BANK IS REQUIRED TO DO. 2.1 Set Up Accounts (a) Bank shall keep safely the Financial Assets and cash of Customer that have been delivered to Bank from time to time, accept delivery of Financial Assets and cash of Customer for safekeeping and will establish and maintain the following accounts ("“Accounts"”): (i) one or more Securities Accounts in the name of Customer (or in another name requested by the Customer that is acceptable to Bank) for Financial Assets, which may be held by Bank or its Subcustodian or a Securities Depository for Bank on behalf of the Customer, including as an Entitlement Holder; and (ii) one or more accounts in the name of Customer (or in another name requested by the Customer that is acceptable to Bank) ("“Cash Account"”) for any and all cash in any currency received by or on behalf of Bank for the account of Customer. Notwithstanding paragraph (ii), cash held in respect of those markets where Customer is required to have a cash account in its own name held directly with the relevant Subcustodian or Securities Depository will be held in that manner and will not be part of the Cash Account. (b) At the request of Customer, additional Accounts may be opened in the future, which will be subject to the terms of this Agreement. (c) Bank’s obligation to open Accounts pursuant to Section 2.1(a) is conditional upon Bank receiving such of the following documents as Bank may require: (i) a certified copy of the Customer's ’s constitutional documents as currently in force; (ii) a certified copy of a resolution of the Customer's ’s board of directors or equivalent governing body, substantially in the form set out in Schedule 4; (iii) Bank’s standard form fund manager mandate (in the form set out in Appendix A), completed by any persons designated in Schedule 3; and (iv) in the case of any Account opened in a name not that of the Customer, documentation with respect to that name similar to that set forth in sub-sections (i) – — (iii).