Exhibit (2)(j)(ii)
AMENDMENT TO CUSTODY CONTRACT
Amendment dated August 16, 1999, by and between State Street Bank and Trust
Company (the "Custodian") and Managed High Yield Plus Fund Inc. (the "Fund") to
the custody contract between the Custodian and the Fund, dated June 22, 1998, as
amended (the "Custody Contract").
WHEREAS the Custodian serves as the custodian of the Fund's assets pursuant
to the Custody Contract;
WHEREAS the Fund may appoint one or more banks identified on Schedule A to
this Amendment, as, amended from time to time, to serve as additional custodians
for the Fund (each, a "Repo Custodian") for the purpose of the Fund's engaging
in tri-party repurchase agreement transactions ("Tri-Party Repos");
WHEREAS the Fund may direct the Custodian to make "free delivery" to one or
more Repo Custodians of cash or other assets maintained in custody by the
Custodian for the Fund pursuant to the Custody Contract for purposes of engaging
in Tri-Party Repos; and
WHEREAS the Custodian and the Fund desire to amend the Custody Contract to
permit the Custodian to make "free delivery" of cash and other assets of the
Fund to Repo Custodians from time to time;
NOW THEREFORE, the Custodian and the Fund hereby agree to amend the Custody
Contract by adding the following provisions thereto:
1. Notwithstanding anything to the contrary in the Custody Contract, upon
receipt of Proper Instructions (as defined in the Custody Contract), the
Custodian shall deliver cash and/or other assets of the Fund to any account
maintained for the Fund by a Repo Custodian listed on Schedule A, which delivery
may be made without contemporaneous receipt by the Custodian of cash or other
assets in exchange therefor. Upon such delivery of cash or other assets in
accordance with such Proper Instructions, the Custodian shall have no further
responsibility or obligation to the Fund as a custodian of the Fund with respect
to the cash or assets so delivered. In preparing reports of monies received or
paid out of the Fund or of assets comprising the Fund, the Custodian shall be
entitled to rely upon information received from time to time from the Repo
Custodian and shall not be responsible for the accuracy or completeness of such
information included in the Custodian's reports until such assets arc received
by the Custodian.
2. The Fund may amend Schedule A from time to time to add or delete a
Repo Custodian for the Fund by delivering Special Instructions (as defined
herein) to the Custodian. The term Special Instructions shall mean written
instructions executed by at least two officers of the Fund holding the office of
Vice President or higher. In all other respects, the Custody
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Contract shall remain in full force and effect and the Custodian and the Fund
shall perform their respective obligations in accordance with the terms thereof.
THIS AMENDMENT is executed to be effective as of the date set forth above.
MANAGED HIGH YIELD PLUS FUND TNC.
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
Title: Vice President and
Assistant Secretary
STATE STREET BANK AND TRUST COMPANY
By: /s/ Xxxxxx X. Xxxxx
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Name: Xxxxxx X. Xxxxx
Title: Vice Chairman
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SCHEDULE A
Dated: August 16, 1999
to
Amendment dated August 16, 1999, to Custody Contract
Of June 22, 1998, between
State Street Bank and Trust Company and
Managed High Yield Plus Fund Inc.
TRI-PARTY REPO CUSTODIAN BANKS
The Bank of New York
Chase Manhattan Bank
Authorized Signatures for Special Instructions:
By: /s/ Xxxxx X.Xxxxxx By: /s/ Xxxxx X'Xxxxxxx
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Title: Xxxxx X. Xxxxxx Title: Secretary & Vice President
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Vice President and Assistant
Secretary
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Date: as of 8/16/99 Date: as of 8/16/99
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