Common use of Whenever a Futures Clause in Contracts

Whenever a Futures. Contract held by the Custodian hereunder is retained by the Fund until delivery or settlement is made on such Futures Contract, the Fund shall deliver to the Custodian a Certificate specifying: (a) the Series to which the Futures Contract retained is to be specifically allocated; (b) the Futures Contract; (c) with respect to a Stock Index Futures Contract, the total cash settlement amount to be paid or received, and with respect to a Financial Futures Contract, the Securities and/or amount of cash to be delivered or received; (d) the broker, dealer or futures commission merchant to or from which payment or delivery is to be made or received; and (e) the amount of cash and/or Securities to be withdrawn from the Segregated Security Account. The Custodian shall make the payment or delivery specified in the Certificate and delete such Futures Contract from the statements delivered to the Fund pursuant to paragraph 3 of Article III herein.

Whenever a Futures. Contract held by the Custodian hereunder is retained by the Fund until delivery or settlement is made on such Futures Contract, the Fund shall deliver to the Custodian a Certificate specifying: (a) the Series to which the Futures Contract retained is to be specifically allocated; (b) the Futures Contract; (c) with respect to a Stock Index Futures Contract, the total cash settlement amount to be paid or received, and with respect to a Financial Futures Contract, the th e Securities and/or amount of cash to be delivered or received; (d) the broker, dealer or futures commission merchant to or from which payment or delivery is to be made or received; and (e) the amount of cash and/or Securities to be withdrawn from the th e Segregated Security Account. The Custodian shall make the payment or delivery specified in the Certificate and delete such Futures Contract from the statements delivered to the Fund pursuant to paragraph 3 of Article III herein.