Exhibit (g)(20)
NORTHERN INSTITUTIONAL FUNDS
ADDENDUM NO. 13 TO THE CUSTODIAN AGREEMENT
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This Addendum No. 13, dated as of the 29th day of July, 2003, is entered
into between NORTHERN INSTITUTIONAL FUNDS (the "Trust"), a Delaware statutory
trust, and THE NORTHERN TRUST COMPANY ("Northern"), an Illinois state bank.
WHEREAS, the Trust and Northern have entered into a Custodian Agreement
dated June 8, 1992, as amended to date; and
WHEREAS, the Securities and Exchange Commission has amended Rule 17f-4
under the Investment Company Act of 1940 relating to the deposit of securities
in securities depositories; and
WHEREAS, the Trust and Northern desire to amend the terms of the Custodian
Agreement to conform to the provisions of amended Rule 17f-4;
NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby
agree as follows:
1. Section 3(d) of the Custodian Agreement is hereby amended and restated
in its entirety as follows:
Use of Securities Depositories. Northern, each agent appointed
pursuant to Section 8A hereof and each sub-custodian appointed
pursuant to Section 8B hereof may deposit all or any part of the
securities held by it in an account hereunder (the "Account") and
eligible therefor in securities depositories (including, without
limitation, clearing agencies that act as securities
depositories) and intermediary custodians covered by Rule 17f-4
under the 1940 Act; provided that Northern, each such agent and
each such sub-custodian shall comply with all applicable
provisions of Rule 17f-4 under the 1940 Act; and provided further
that Northern shall (a) exercise due care in accordance with
reasonable commercial standards in discharging its duty as a
securities intermediary to obtain and thereafter maintain such
securities; (b) provide, promptly upon request by the Trust, such
reports as are available concerning the internal accounting
controls and financial strength of Northern; and (c) require any
intermediary custodian at a minimum to exercise due care in
accordance with reasonable commercial standards in discharging
its duty as a securities intermediary to obtain and thereafter
maintain financial assets corresponding to the security
entitlements of its entitlement holders. For
purposes of this Agreement, any securities depository permitted
under this Section 3(d) shall be deemed approved by the Board of
Trustees.
2. Miscellaneous. Except to the extent supplemented hereby, the Custodian
Agreement shall remain unchanged and in full force and effect, and is
hereby ratified and confirmed in all respects as supplemented hereby.
IN WITNESS WHEREOF, the undersigned have executed this Addendum as of the
date and year first above written.
NORTHERN INSTITUTIONAL FUNDS
Attest: /s/ Xxxxx Xxxxxxxx By: /s/ Xxxxx X. Xxxxxxxx
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Name: Xxxxx X. Xxxxxxxx
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Title: President
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THE NORTHERN TRUST COMPANY
Attest: /s/ Xxxxx Xxxxxxxx By: /s/ Xxxxxxx X. Xxxxxx III
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Name: Xxxxxxx X. Xxxxxx III
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Title: Vice President
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