AMENDMENT TO THE
CUSTODIAN AGREEMENT
AMENDMENT entered into as of this 29th day of September, 1997 to the
Custodian Agreement among Xxxxxxx Global Fund, Inc. (the "Fund") and XXXXX
BROTHERS XXXXXXXX & CO. (the "Custodian") dated as of March 7, 1995 (the
"Agreement").
In consideration of the mutual covenants herein contained, the Fund and the
Custodian agree that the Agreement is hereby amended as follows:
1. The first paragraph of Section 2.13, Bank Accounts, is replaced in its
entirety with the following:
"The Custodian shall open and operate one or more accounts in the name of
the Fund, subject only to draft or order by the Custodian, and to hold in such
account or accounts all deposits denominated in U.S. and foreign currency,
received for the account of the Fund, other than deposits with Banking
Institutions held in accordance with the last paragraph of this Section 2.13.
The responsibilities of the Custodian to the Fund for deposits accepted on the
Custodian's books and denominated in U.S. currency shall be that of a U.S. bank
for a similar deposit. The obligation of the Custodian for any deposit
denominated in any foreign currency shall have the benefit of and be subject to
the provisions of the last paragraph of Section 5.1(b) hereof, and accordingly
in the event and to the extent the Custodian shall be unable to make payment in
the currency in which a certain deposit is denominated due to an act of God,
sovereign event or other factor beyond its control, the Custodian's obligation
to pay the Fund in respect of such foreign currency obligation shall be deferred
or relieved until and to the extent the Custodian is able to make payment in
such currency and accordingly shall not be payable on demand in U.S. currency."
2. Section 2.14, Interest-Bearing Deposits, is amended by the addition of
the following paragraph at the end of the present Section:
"The obligation of the Custodian for any interest-bearing deposit
denominated in any foreign currency shall have the benefit of and be subject to
the provisions of the last paragraph of Section 5.1(b) hereof, and accordingly
in the event and to the extent the Custodian shall be unable to make payment in
the currency in which a certain deposit is denominated due to an act of God,
sovereign event or other factor or event beyond its control, the Custodian's
obligation to pay the Fund in respect of such foreign currency obligation shall
be deferred or relieved until and to the extent the Custodian is able to make
payment in such currency and accordingly shall not be payable on demand in U.S.
currency."
Except as amended above, all the provisions of the Agreement as heretofore
in effect shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first set forth above.
/s/Xxxxx X. Xxx
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Name: Xxxxx X. Xxx
Title: Vice President
XXXXX BROTHERS XXXXXXXX & CO.
/s/Xxxxxxx X. Xxxxxx
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Name: Xxxxxxx X. Xxxxxx
Title: Partner
