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EXHIBIT (8)(d)
FIRST AMENDMENT TO THE SUBCUSTODIAN AGREEMENT DATED AS OF DECEMBER, 0000
XXXXXXX
XXXXX XXXXXX BANK AND TRUST COMPANY,
BANK ONE TRUST COMPANY, N.A. AND THE XXXXXXXXXX
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FIRST AMENDMENT TO THE SUBCUSTODIAN AGREEMENT
This First Amendment to the Subcustodian Agreement (the "Subcustodian
Agreement") by and between State Street Bank and Trust Company, a Massachusetts
trust company (the "Custodian") and Bank One Trust Company, N.A. (the
"Subcustodian") and The One Group(R), an open-end management investment company
registered under the Investment Company Act of 1940 ("The One Group") is hereby
made this __ day of December, 1996. The parties hereto hereby agree to amend the
Subcustodian Agreement by deleting Section 4 in its entirety and substituting
the following in its place:
"Section 4. Accounts. Securities shall be held in a separate Securities
Lending Account for each Fund of The One Group and, except for securities held
in a Securities Depository or Book Entry Account as defined below, physically
segregated at all times from those of any other persons, firms, or corporations.
All securities received as Collateral in connection with loans of securities or
investments of Cash Collateral may be held in the Securities Lending Account
established for the particular Fund of The One Group or commingled in a
collateral account established for the Securities Lending Program. The
Subcustodian may hold securities in: (i) the bank vault of Subcustodian; (ii)
such other banks or trust companies as have been approved by The One Group and
pursuant to a written agreement between such other banks or trust companies and
the Subcustodian; (iii) its accounts with a clearing agency registered with the
Securities and Exchange Commission under Section 17A of the Securities Exchange
Act of 1934, which acts as a securities depository (the "Securities
Depository"); or (iv) a book-entry account which is maintained for the
Subcustodian by a Federal Reserve Bank (the "Book Entry Account").
So long as Subcustodian maintains any account pursuant to (iii) or (iv)
above for The One Group, Subcustodian shall: (i) identify as belonging to The
One Group a quantity of such securities in the fungible bulk of securities (A)
registered in the name of Subcustodian or its nominee, or (B) shown on
Subcustodian's account on the books of the Securities Depository, the Book-Entry
Account, or Subcustodian's agent; (ii) promptly send to the Custodian reports it
receives from the appropriate Federal Reserve Bank or Securities Depository on
its system of internal accounting control; and (iii) send to the Custodian such
reports of the systems of internal accounting control of Subcustodian and its
agents through which
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such securities are deposited as are available and as the Custodian may
reasonably request from time to time."
IN WITNESS WHEREOF, each of the parties has caused this Agreement to be
executed this __ day of December, 1996.
THE ONE GROUP
By: /s/ XXXX X. XXXXXX
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Title: Vice President
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BANK ONE TRUST COMPANY, N.A.
(as Subcustodian)
By: /s/ XXXXXX X. XXXXXX
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Title: Vice President
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STATE STREET BANK AND TRUST COMPANY
(as Custodian)
By: /s/ XXXXXXX X. XXXXXXXXXX, XX.
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Title: Vice President
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