AGREEMENT BETWEEN
XXXXX BROTHERS XXXXXXXX & CO.
AND
ALLIANCE HEALTH CARE FUND, INC.
CUSTODIAN AGREEMENT
AGREEMENT made this 13th of July, 1999 between ALLIANCE
HEALTH CARE FUND, INC. (the "Fund") and Xxxxx Brothers Xxxxxxxx &
Co. (the "Custodian").
WITNESSETH: That in consideration of the mutual
covenants and agreements herein contained, the parties hereto
agree as follows:
1. The Fund hereby employs and appoints the Custodian
as a custodian for the term and subject to the provisions of this
Agreement. The Custodian shall not be under any duty or
obligation to require the Fund to deliver to it any securities or
funds owned by the Fund and shall have no responsibility or
liability for or on account of securities or funds not so
delivered. The Fund will deposit with the Custodian copies of
the Articles of Incorporation and By-Laws (or comparable
documents) of the Fund and all amendments thereto, and copies of
such votes and other proceedings of the Fund as may be necessary
for or convenient to the Custodian in the performance of its
duties.
2. Except for securities and funds held by
subcustodians appointed pursuant to the provisions of Section 3
hereof, the Custodian shall have and perform the following powers
and duties:
A. Safekeeping - To keep safely the securities of the
Fund that have been delivered to the Custodian and from time to
time to receive delivery of securities for safekeeping.
B. Manner of Holding Securities - To hold securities
of the Fund (1) by physical possession of the share certificates
or other instruments representing such securities in registered
or bearer form, or (2) in book-entry form by a Securities System
(as said term is defined in Section 2U).
C. Registered Name; Nominee - To hold registered
securities of the Fund (1) in the name or any nominee name of the
Custodian or the Fund, or in the name or any nominee name of any
agent appointed pursuant to Section 6E, or (2) in street
certificate form, so-called, and in any agent appointed pursuant
to Section 6E, or (2) in street certificate form, so-called, and
in any case with or without any indication of fiduciary capacity.
D. Purchases - Upon receipt of Proper Instructions, as
defined in Section Y , insofar as funds are available for the
purpose, to pay for and receive securities purchased for the
account of the Fund, payment being made only upon receipt of the
securities (1) by the Custodian, or (2) by a clearing corporation
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of a national securities exchange of which the Custodian is a
member, or (3) by a Securities System. However, (i) in the case
of repurchase agreements entered into by the Fund, the Custodian
(as well as an Agent) may release funds to a Securities System or
to a Subcustodian prior to the receipt of advice from the
Securities System or Subcustodian that the securities underlying
such repurchase agreement have been transferred by book entry
into the Account (as defined in Section 2U) of the Custodian (or
such Agent) maintained with such Securities System or
Subcustodian, so long as such payment instructions to the
Securities System or Subcustodian include a requirement that
delivery is only against payment for securities, (ii) in the case
of foreign exchange contracts, options, time deposits, call
account deposits, currency deposits and other deposits, contracts
or options pursuant to Sections 2J, 2L, 2M and 2N, the Custodian
may make payment therefor without receiving an instrument
evidencing said deposit, contract or option so long as such
payment instructions detail specific securities to be acquired,
and (iii) in the case of securities in which payment for the
security and receipt of the instrument evidencing the security
are tinder generally accepted trade practice or the terms of the
instrument representing the security expected to take place in
different locations or through separate parties, such as
commercial paper which is indexed to foreign currency exchange
rates, derivatives and similar securities, the Custodian may make
payment for such securities prior to delivery thereof in
accordance with such generally accepted trade practice or the
terms of the instrument representing such security.
E. Exchanges - Upon receipt of proper instructions to
exchange securities held by it for the account of the Fund for
other securities in connection with any reorganization,
recapitalization, split-up of shares, change of par value,
conversion or other event, and to deposit any such securities in
accordance with the terms of any reorganization or protective
plan. Without such instructions, the Custodian may surrender
securities in temporary form for definitive securities, may
surrender securities for transfer into a name or nominee name as
permitted in Section 2C, and may surrender securities for a
different number of certificates or instruments representing the
same number of shares or same principal amount of indebtedness,
provided the securities to be issued are to be delivered to the
Custodian and further provided custodian shall at the time of
surrendering securities or instruments receive a receipt or other
evidence of ownership thereof
F. Sales of Securities - Upon receipt of proper
instructions, to make delivery of securities which have been sold
for the account of the Fund, but only against payment therefor
(1) in cash, by a certified check, bank cashier's check, bank
credit, or bank wire transfer, or (2) by credit to the account of
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the Custodian with a clearing corporation of a national
securities exchange of which the Custodian is a member, or (3) by
credit to the account of the Custodian or an Agent of the
Custodian with a Securities System; provided, however, that (i)
in the case of delivery of physical certificates or instruments
representing securities, the Custodian may make delivery to the
broker buying the securities, against receipt therefor, for
examination in accordance with "street delivery" custom, provided
that the payment therefor is to be made to the Custodian (which
payment may be made by a broker's check) or that such securities
are to be returned to the Custodian, and (ii) in the case of
securities referred to in clause (iii) of the last sentence of
Section 2D, the Custodian may make settlement, including with
respect to the form of payment, in accordance with generally
accepted trade practice relating to such securities or the terms
of the instrument representing said security.
G. Depositary Receipt - Upon receipt of proper
instructions, to instruct a subcustodian appointed pursuant to
Section 3 hereof (a "Subcustodian") or an agent of the Custodian
appointed pursuant to Section 6E hereof (an "Agent") to surrender
securities to the depositary used by an issuer of American
Depositary Receipts or International Depositary Receipts
(hereinafter collectively referred to as "ADRs") for such
securities against a written receipt therefor adequately
describing such securities and written evidence satisfactory to
the Subcustodian or Agent that the depositary has acknowledged
receipt of instructions to issue with respect to such securities
ADRs in the name of the Custodian, or a nominee of the Custodian,
for delivery to the Custodian in Boston, Massachusetts, or at
such other place as the Custodian may from time to time
designate.
Upon receipt of proper instructions, to surrender ADRs
to the issuer thereof against a written receipt therefor
adequately describing the ADRs surrendered and written evidence
satisfactory to the Custodian that the issuer of the ADRs has
acknowledged receipt of instructions to cause its depositary to
deliver the securities underlying such ADRs to a Subcustodian or
an Agent.
H. Exercise of Rights; Tender Offers - Upon timely
receipt of proper instructions, to deliver to the issuer or
trustee thereof, or to the agent of either, warrants puts, calls,
rights or similar securities for the purpose of being exercised
or sold, provided that the new securities and cash, if any,
acquired by such action are to be delivered to the Custodian,
and, upon receipt of proper instructions, to deposit securities
upon invitations for tenders of securities, provided that the
consideration is to be paid or delivered or the tendered
securities are to be returned to the Custodian.
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I. Stock Dividends, Rights, Etc. - To receive and
collect all stock dividends, rights and other items of like
nature; and to deal with the same pursuant to proper instructions
relative thereto.
J. Options - Upon receipt of proper instructions, to
receive and retain confirmations or other documents evidencing
the purchase writing an option on a security or securities index
by the Fund; to deposit and maintain in a segregated account,
either physically or by book-entry in a Securities System,
securities, subject to a covered call option written by the Fund;
and to release and/or transfer such securities or other assets
only in accordance with a notice or other communication
evidencing the expiration, termination or exercise of such
covered option furnished by The Options Clearing Corporation, the
securities or options exchange on which such covered option is
traded or such other organization as may be responsible for
handling such options transactions.
K. Borrowings - Upon receipt of proper instructions to
deliver securities of the Fund to lenders or their agents as
collateral for borrowings effected by the Fund, provided that
such borrowed money is payable to or upon the Custodian's order
as Custodian for the Fund.
L. Demand Deposit Bank Accounts - To open and operate
an account or accounts in the name of the Fund on the Custodian's
books subject only to draft or order by the Custodian. All funds
received by the Custodian from or for the account of the Fund
shall be deposited in said account(s). The responsibilities of
the Custodian to the Fund for deposits accepted on the
Custodian's books shall be that of a U.S. bank for a similar
deposit.
If and when authorized by proper instructions, the
Custodian may open and operate an additional account(s) in such
other banks or trust companies as may be designated by the Fund
in such instructions (any such bank or trust company so
designated by the Fund being referred to hereafter as a "Banking
Institution"), provided that such account(s) shall be in the name
of the Custodian for account of the Fund and subject only to the
Custodian's draft or order. Such accounts may be opened with
Banking Institutions in the United States and in other countries
and may be denominated in either U.S. Dollars or other currencies
as the Fund may determine. All such deposits shall be deemed to
be portfolio securities of the Fund and accordingly the
responsibility of the Custodian therefore shall be the same as
and no greater than the Custodian's responsibility in respect of
other portfolio securities of the Fund.
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M. Interest Bearing Call or Time Deposits - To place
interest bearing fixed term and call deposits with such banks and
in such amounts as the Fund may authorize pursuant to proper
instructions. Such deposits may be placed with the Custodian or
with Subcustodians or other Banking Institutions as the Fund may
determine. Deposits may be denominated in U.S. Dollars or other
currencies and need not be evidenced by the issuance or delivery
of a certificate to the Custodian, provided that the: Custodian
shall include in its records with respect to the assets of the
Fund, appropriate notation as to the amount and currency of each
such deposit, the accepting Banking Institution, and other
appropriate details. Such deposits, other than those placed with
the Custodian, shall be deemed portfolio securities of the Fund
and the responsibilities of the Custodian therefor shall be the
same as those for demand deposit bank accounts placed with other
banks, as described in Section 2.L of this agreement. The
responsibility of the Custodian for such deposits accepted on the
Custodian's books shall be that of a U.S. bank for a similar
deposit.
N. Foreign Exchange Transactions and Futures Contracts
- Pursuant to proper instructions, to enter into foreign exchange
contracts or options to purchase and sell foreign currencies for
spot and future delivery on behalf and for the account of the
Fund. Such transactions may be undertaken by the Custodian with
such Banking Institutions, including the Custodian and
Subcustodian(s) as principals, as approved and authorized by the
Fund. Foreign exchange contracts and options other than those
executed with the Custodian, shall be deemed to be portfolio
securities of the Fund and the responsibilities of the Custodian
therefor shall be the same as those for demand deposit bank
accounts placed with other banks as described in Section 2.1, of
this agreement. Upon receipt of proper instructions, to receive
and retain confirmations evidencing the purchase or sale of a
futures contract or an option on a futures contract by the Fund;
to deposit and maintain in a segregated account, for the benefit
of any futures commission merchant or to pay to such futures
commission merchant, assets designated by the fund as initial,
maintenance or variation "margin" deposits intended to secure the
Fund's performance of its obligations under any futures contracts
purchased or sold or any options on futures contracts written by
the Fund, in accordance with the provisions of any agreement or
agreements among any of the Fund, the Custodian and such futures
commission merchant, designated to comply with the rules of the
Commodity Futures Trading Commission and/or any contract market,
or any similar organization or organizations, regarding such
margin deposits; and to release and/or transfer assets in such
margin accounts only in accordance with any such agreements or
rules.
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0. Stock Loans - Upon receipt of proper instructions,
to deliver securities of the Fund, in connection with loans of
securities by the Fund, to the borrower thereof upon the receipt
of the cash collateral, if any, for such borrowing. In the event
U.S. Government securities are to be used as collateral, the
Custodian will not release the securities to be loaned until it
has received confirmation that such collateral has been delivered
to the Custodian. The Custodian and Fund understand that the
timing of receipt of such confirmation will normally require that
the delivery of securities to be loaned will be made one day
after receipt of the U.S. Government collateral.
P. Collections - To collect, receive and deposit in
said account or accounts all income, payments of principal and
other payments with respect to the securities held hereunder, and
in connection therewith to deliver the certificates or other
instruments representing the securities to the issuer thereof or
its agent when securities are called, redeemed, retired or
otherwise become payable; provided, that the payment is to be
made in such form and manner and at such time, which may be after
delivery by the Custodian of the instrument representing the
security, as is in accordance with the terms of the instrument
representing the security, or such proper instructions as the
Custodian may receive, or governmental regulations, the rules of
Securities Systems or other U.S. securities depositories and
clearing agencies or, with respect to securities referred to in
clause (iii) of the last sentence of Section 2.D, in accordance
with generally accepted trade practice; (ii) to execute ownership
and other certificates and affidavits for all federal and state
tax purposes in connection with receipt of income or other
payments with respect to securities of the Fund or in connection
with transfer of securities, and (iii) pursuant to proper
instructions to take such other actions with respect to
collection or receipt of funds or transfer of securities which
involve an investment decision.
Q. Dividends, Distributions and Redemptions - Upon
receipt of proper instructions from the Fund, or upon receipt of
instructions from the Fund's shareholder servicing agent or agent
with comparable duties (the "Shareholder Servicing Agent") (given
by such person or persons and in such manner on behalf of the
Shareholder Servicing Agent as the Fund shall have authorized),
the Custodian shall release funds or securities to the
Shareholder Servicing Agent or otherwise apply funds or
securities, insofar as available, for the payment of dividends or
other distributions to Fund shareholders. Upon receipt of proper
instructions from the Fund, or upon receipt of instructions from
the Shareholder Servicing Agent (given by such person or persons
and in such manner on behalf of the Shareholder Servicing Agent
as the Fund shall have authorized), the Custodian shall release
funds or securities, insofar as available, to the Shareholder
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Servicing Agent or as such Agent shall otherwise instruct for
payment to Fund shareholders who have delivered to such Agent a
request for repurchase or redemption of their shares of capital
stock of the Fund.
R. Proxies, Notices, Etc. - Promptly to deliver or
mail to the Fund all forms of proxies and all notices of meetings
and any other notices or announcements affecting or relating to
securities owned by the Fund that are received by the Custodian,
and upon receipt of proper instructions, to execute and deliver
or cause its nominee to execute and deliver such proxies or other
authorizations as may be required. Neither the Custodian nor its
nominee shall vote upon any of such securities or execute any
proxy to vote thereon or give any consent or take any other
action with respect thereto (except as otherwise herein provided)
unless ordered to do so by proper instructions.
S. Nondiscretionary Details - Without the necessity of
express authorization from the Fund, (1) to attend to all
nondiscretionary details in connection with the sale, exchange,
substitution, purchase, transfer or other dealings with
securities, funds or other property of the Portfolio held by the
Custodian except as otherwise directed from time to time by the
Directors of the Fund, and (2) to make payments to itself or
others for minor expenses of handling securities or other similar
items relating to the Custodian's duties under this Agreement,
provided that all such payments shall be accounted for to the
Fund.
T. Bills - Upon receipt of proper instructions to pay
or cause to be paid, insofar as funds are available for the
purpose, bills, statements, or other obligations of the Fund.
U. Deposit of Fund Assets in Securities Systems - The
Custodian may deposit and/or maintain securities owned by, the
Fund in (i) The Depository Trust Company, (ii) any book-entry
system as provided in Subpart 0 of Treasury Circular Xx. 000, 00
XXX 000, Xxxxxxx X of 31 CFR Part 350, or the book-entry
regulations of federal agencies substantially in the form of
Subpart O, or (iii) any other domestic 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 and whose use the Fund has previously approved in
writing (each of the foregoing being referred to in this
Agreement as a "Securities System"). Utilization of a Securities
System shall be in accordance with applicable Federal Reserve
Board and Securities and Exchange Commission rules and
regulations, if any, and subject to the following provisions:
1) The Custodian may deposit and/or maintain Fund
securities, either directly or through one or more Agents
8
appointed by the Custodian (provided that any such agent shall be
qualified to act as a custodian of the Fund pursuant to the
Investment Company Act of 1940 and the rules and regulations
thereunder), in a Securities System provided that such securities
are represented in an account ("Account") of the Custodian or
such Agent in the Securities System which shall not include any
assets of the Custodian or Agent other than assets held as a
fiduciary, custodian, or otherwise for customers;
2) The records of the Custodian with respect to
securities of the Fund which are maintained in a Securities
System shall identify by book-entry those securities belonging to
the Fund;
3) The Custodian shall pay for securities purchased
for the account of the Fund upon (i) receipt of advice from the
Securities System that such securities have been transferred to
the Account, and (ii) the making of an entry on the records of
the Custodian to reflect such payment and transfer for the
account of the Fund. The Custodian shall Transfer securities
sold for the account of the Fund upon (i) receipt of advice from
the Securities System that payment for such securities has been
transferred to the Account, and (ii) the making of an entry on
the records of the Custodian to reflect such transfer and payment
for the account of the Fund. Copies of all advices from the
Securities System of transfers of securities for the account of
the Fund shall identify the Fund, be maintained for the Fund by
the Custodian or an Agent as referred to above, and be provided
to the Fund at its request. The Custodian shall furnish the Fund
confirmation of each transfer to or from the account of the Fund
in the form of a written advice or notice and shall furnish to
the Fund copies of daily transaction sheets reflecting each day's
transactions in the Securities System for the account of the Fund
on the next business day;
4) The Custodian shall provide the Fund with any
report obtained by the Custodian or any Agent as referred to
above on the Securities System's accounting system, internal
accounting control and procedures for safeguarding securities
deposited in the Securities System; and the Custodian and such
Agents shall send to the Fund such reports on their own systems
of internal accounting control as the Fund may reasonably request
from time to time.
5) At the written request of the Fund, the Custodian
will terminate the use of any such Securities System on behalf of
the Fund as promptly as practicable.
V. Other Transfers - Upon receipt of Proper
Instructions, to deliver securities, funds and other property of
the Fund to a Subcustodian or another custodian of the Fund; and,
9
upon receipt of proper instructions, to make such other
disposition of securities, funds or other property of the Fund in
a manner other than or for purposes other than as enumerated
elsewhere in this Agreement, provided that the instructions
relating to such disposition shall include a statement of the
purpose for which the delivery is to be made, the amount of
securities to be delivered and the name of the person or persons
to whom delivery is to be made,
W. Investment Limitations - In performing its duties
generally, and more particularly in connection with the purchase,
sale and exchange of securities made by or for the Fund, the
Custodian may assume unless and until notified in writing to the
contrary that proper instructions received by it are not in
conflict with or in any way contrary to any provisions of the
Fund's Articles of Incorporation or By-Laws (or comparable
documents) or votes or proceedings of the shareholders or
Directors of the Fund. The Custodian shall in no event be liable
to the Fund and shall be indemnified by the Fund for any
violation which occurs in the course of carrying out instructions
given by the Fund of any investment limitations to which the Fund
is subject or other limitations with respect to the Fund's powers
to make expenditures, encumber securities, borrow or take similar
actions affecting its portfolio.
X. Restricted Securities - Notwithstanding any other
provision of this Agreement, the Custodian shall not be liable
for failure to take any action in respect of a "restricted
security" (as hereafter defined) if the Custodian has not
received Proper Instructions to take such action (including but
not limited to the failure to exercise in a timely manner any
right in respect of any restricted security) unless the
Custodian's responsibility to take such action is set forth in a
writing, agreed upon by the Custodian and the Fund or the
investment adviser of the Fund, which specifies particular
actions the Custodian is to take without Proper Instructions in
respect of specified rights and obligations pertaining to a
particular restricted security. Further, the Custodian shall not
be responsible for transmitting to the Fund information
concerning a restricted security, such as with respect to
exercise periods and expiration dates for rights relating to the
restricted security, except such information which the Custodian
actually receives or which is published in a source which is
publicly distributed and generally recognized as a major source
of information with respect to corporate actions of securities
similar to the particular restricted security. As used herein,
the term "restricted securities" shall mean securities which are
subject to restrictions on transfer, whether by reason of
contractual restrictions or federal, state or foreign securities
or similar laws, or securities which have special rights or
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contractual features which do not apply to publicly-traded shares
of, or comparable interests representing, such security.
Y. Proper Instructions - Proper instructions shall
include in order of preference, authenticated electro-mechanical
communications including SWIFT and tested telex; a written
request signed by two or more authorized persons as set forth
below; telefax transmissions and oral instructions. Each of the
foregoing methods of communicating proper instructions is
described and defined below and may from time to time be further
described and defined in written operating memoranda between the
Custodian and the Fund,
Proper Instructions may include communications effected
directly between electro-mechanical or electronic devices or
systems, including authenticated SWIFT and tested telex
transmissions. The media through which such Proper Instructions
shall be transmitted and the data which must be contained in such
Proper Instructions in order for such instruction to be complete
shall be set forth in certain operating memoranda to which the
Custodian and the Fund shall from time to time agree. The Fund
shall be responsible for sending instructions which meet the
requirements set forth therein and the Custodian shall only be
responsible for acting on instructions which meet such
requirements. The Custodian shall not be liable for direct or
consequential losses resulting from technical failures of any
kind in respect of instructions sent via electro-mechanical or
electronic communications.
Proper Instructions shall include a written request,
direction, instruction or certification signed or initialed on
behalf of the Fund by two or more persons as the Board of
Trustees or Directors of the Fund shall have from time to time
authorized, provided, however, that no such instructions
directing the delivery of securities or the payment of funds to
an authorized signatory of the Fund shall be signed by such
persons. Those persons authorized to give proper instructions
may be identified by the Board of Trustees or Directors by name,
title or position and will include at least one officer empowered
by the Board to name other individuals who are authorized to give
proper instructions on behalf of the Fund. Telephonic or other
oral instructions or instructions given by facsimile transmission
may be given by any one of the above persons and will be
considered proper instructions if the Custodian reasonably
believes them to have been given by a person authorized to give
such instructions with respect to the transaction involved.
With respect to telefax transmissions, the Fund hereby
acknowledges that (i) receipt of legible instructions cannot be
assured, (ii) the Custodian cannot verify that authorized
signatures on telefax instructions are original, and (iii) the
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Custodian shall not be responsible for losses or expenses
incurred through actions taken in reliance on such telefax
instructions.
The Custodian may act on oral instructions provided such
instructions will be confirmed by authenticated electro-
mechanical communications in the manner set forth above but the
lack of such confirmation shall in no way affect any action taken
by the Custodian in reliance upon such oral instructions. The
Fund authorizes the Custodian to tape record any and all
telephonic or other oral instructions given to the Custodian by
or on behalf of the Fund (including any of its officers,
Directors, Trustees, employees or agents or any investment
manager or adviser or person or entity with similar
responsibilities which is authorized to give proper instructions
on behalf of the Fund to the Custodian.)
Proper instructions may relate to specific transactions
or to types or classes of transactions, and may be in the form of
standing instructions.
Proper instructions may include communications effected
directly between electro-mechanical or electronic devices or
systems, in addition to tested telex, provided that the Fund and
the Custodian agree to the use of such device or system.
3. Securities, funds and other property of the Fund
may be held by subcustodians appointed pursuant to the provisions
of this Section 3 (a "Subcustodian"). The Custodian may, at any
time and from time to time, appoint any bank or trust company
(meeting the requirements of a custodian or a foreign custodian
under the Investment Company Act of 1940 and the rules and
regulations thereunder) to act as a Subcustodian for the Fund,
provided that the Fund shall have approved in writing (1) any
such bank or trust company and the subcustodian agreement to be
entered into between such bank or trust company and the
Custodian, and (2) if the subcustodian is a bank organized under
the laws of a country other than the United States, the holding
of securities, cash and other property of the Fund in the country
in which it is proposed to utilize the services of such
subcustodian. Upon such approval by the Fund, the Custodian is
authorized on behalf of the Fund to notify each Subcustodian of
its appointment as such. The Custodian may, at any time in its
discretion, remove any bank or trust company that has been
appointed as a Subcustodian but will promptly notify the Fund of
any such action.
Those Subcustodians, their offices or branches which the
Fund has approved to date are set forth on Appendix A hereto.
Such Appendix shall be amended from time to time as
Subcustodians, branches or offices are changed, added or deleted.
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The Fund shall be responsible for informing the
Custodian sufficiently in advance of a proposed investment which
is to be held at a location not listed on Appendix A, in order
that there shall be sufficient time for the Fund to give the
approval required by the preceding paragraph and for the
Custodian to put the appropriate arrangements in place with such
Subcustodian pursuant to such subcustodian agreement.
Although the Fund does not intend to invest in a country
before the foregoing procedures have been completed, in the event
that an investment is made prior to approval, if practical, such
security shall be removed to an approved location or if not
practical such security shall be held by such agent as the
Custodian may appoint. In such event, the Custodian shall be
liable to the Fund for the actions of such agent if and only to
the extent the Custodian shall have recovered from such agent for
any damages caused the Fund by such agent and provided that the
Custodian shall pursue its rights against such agent.
With respect to the securities and funds held by a
Subcustodian, either directly or indirectly, including demand and
interest bearing deposits, currencies or other deposits and
foreign exchange contracts as referred to in Sections 2K, 2L or
2M, the Custodian shall be liable to the Fund if and only to the
extent that such Subcustodian is liable to the Custodian;
provided, however, that the Custodian shall be liable to the Fund
for losses resulting from the bankruptcy or insolvency of a
Subcustodian if and only to the extent that such Subcustodian is
liable to the Custodian and the Custodian recovers from such
Subcustodian under the applicable subcustodian agreement. The
Custodian shall nevertheless be liable to the Fund for its own
negligence in transmitting any instructions received by it from
the Fund and for its own negligence in connection with the
delivery of any securities or funds held by it to any such
Subcustodian.
In the event that any Subcustodian appointed pursuant to
the provisions of this Section 3 fails to perform any of its
obligations under the terms and conditions of the applicable
subcustodian agreement, the Custodian shall use its best efforts
to cause such Subcustodian to perform such obligations. In the
event that the Custodian is unable to cause such Subcustodian to
perform fully its obligations thereunder, the Custodian shall
forthwith upon the Fund's request terminate such Subcustodian
and, if necessary or desirable, appoint another subcustodian in
accordance with the provisions of this Section 3. At the
election of the Fund, it shall have the right to enforce, to the
extent permitted by the subcustodian agreement and applicable
law, the Custodian's rights against any such Subcustodian for
loss or damage caused the Fund by such Subcustodian.
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At the written request of the Fund, the Custodian will
terminate any subcustodian appointed pursuant to the provisions
of this Section 3 in accordance with the termination provisions
under the applicable subcustodian agreement. The Custodian will
not amend any subcustodian agreement or agree to change or permit
any changes thereunder except upon the prior written approval of
the Fund.
In the event the Custodian receives a claim from a
Subcustodian under the indemnification provisions of any
subcustodian agreement, the Custodian shall promptly give written
notice to the Fund of such claim. No more than thirty days after
written notice to the Fund of the Custodian's intention to make
such payment, the Fund will reimburse the Custodian the amount of
such payment except in respect of any negligence or misconduct of
the Custodian.
4. The Custodian may assist generally in the
preparation of reports to Fund shareholders and others, audits of
accounts, and other ministerial matters of like nature.
5. The Fund hereby also appoints the Custodian as its
financial agent. With respect to the appointment as financial
agent, the Custodian shall have and perform the following powers
and duties:
A. Records - To create, maintain and retain such
records relating to its activities and obligations under this
Agreement as are required under the Investment Company Act of
1940 and the rules and regulations thereunder (including Section
3 1 thereof and Rules 31a-1 and 31a-2 thereunder) and under
applicable Federal and State tax laws. All such records will be
the property of the Fund and in the event of termination of this
Agreement shall be delivered to the successor custodian, and the
Custodian agrees to cooperate with the Fund in execution of
documents and other action necessary or desirable in order to
substitute the successor custodian for the custodian under their
agreement.
B. Accounts - To keep books of account and render
statements, including interim monthly and complete quarterly
financial statements, or copies thereof, from time to time as
reasonably requested by proper instructions.
C. Access to Records - Subject to security
requirements of the Custodian applicable to its own employees
having access to similar records within the Custodian and such
regulations as may be reasonably imposed by the Custodian, the
books and records maintained by the Custodian pursuant to
Sections 5A and 5B shall be open to inspection and audit at
14
reasonable times by officers of, attorneys for, and auditors
employed by, the Fund.
D. Calculation of Net Asset Value - To compute and
determine the net asset value per share of capital stock of the
Fund as of the close of business on the New York Stock Exchange
on each day on which such Exchange is open, unless otherwise
directed by proper instructions. Such computation and
determination shall be made in accordance with (1) the provisions
of the Fund's Articles of Incorporation or By-Laws of the Fund,
as they may from time to time be amended and delivered to the
Custodian, (2) the votes of the Board of Directors of the Fund at
the time in force and applicable, as they may from time to time
be delivered to the Custodian, and (3) proper instructions from
such officers of the Fund or other persons as are from time to
time authorized by the Board of Directors of the Fund to give
instructions with respect to computation and determination of the
net asset value. On each day that the Custodian shall compute
the net asset value per share of the Fund, the Custodian shall
provide the Fund with written reports which permit the Fund to
verify that portfolio transactions have been recorded in
accordance with the Fund's instructions.
In computing the net asset value, the Custodian may rely
upon any information furnished by proper instructions, including
without limitation any information (1) as to accrual of
liabilities of the Fund and as to liabilities of the Fund not
appearing on the books of account kept by the custodian, (2) as
to the existence, status and proper treatment of reserves, if
any, authorized by the fund, (3) as to the sources of quotations
to be used in computing the net asset value, including those
listed in Appendix B, (4) as to the fair value to be assigned to
any securities or other property for which price quotations are
not readily available, and (5) as to the sources of information
with respect to "corporate actions" affecting portfolio
securities of the fund, including those listed in Appendix B.
(Information as to "corporate actions" shall include information
as to dividends, distributions, stock splits, stock dividends,
rights offerings, conversions, exchanges, recapitalizations,
mergers, redemptions, calls, maturity dates and similar
transactions, including the ex- and record dates and the amounts
or other terms thereof.)
In like manner, the Custodian shall compute and
determine the net asset value as of such other times as the Board
of Directors of the Fund from time to time may reasonably
request.
Notwithstanding any other provisions of this Agreement,
including Section 6C, the following provisions shall apply with
respect to the Custodian's foregoing responsibilities in this
15
Section 5.D: The Custodian shall be held to the exercise of
reasonable care in computing and determining net asset value as
provided in this Section 5.D, but shall not be held accountable
or liable for any losses, damages or expenses the Fund or any
shareholder or former shareholder of the Fund may suffer or incur
arising from or based upon errors or delays in the determination
of such net asset value unless such error or delay was due to the
Custodian's negligence, gross negligence or reckless or willful
misconduct in determination of such net asset value. (The
parties hereto acknowledge, however, that the Custodian's causing
an error or delay in the determination of net asset value may,
but does not in and of itself, constitute negligence, gross
negligence or reckless or willful misconduct.) In no event shall
the Custodian be liable or responsible to the Fund, any present
or former shareholder of the fund or any other party for any
error or delay which continued or was undetected after the date
of an audit performed by the certified public accountants
employed by the Fund if, in the exercise of reasonable care in
accordance with generally accepted accounting standards, such
accountants should have become aware of such error or delay in
the course of performing such audit. The Custodian's liability
for any such negligence, gross negligence or reckless or willful
misconduct which results in an error in determination of such net
asset value shall be limited to the direct, out-of-pocket loss
the Fund, shareholder or former shareholder shall actually incur,
measured by the difference between the actual and the erroneously
computed net asset value, and any expenses the fund shall incur
in connection with correcting the records of the Fund affected by
such error (including charges made by the Fund's registrar and
transfer agent for making such corrections) or communicating with
shareholders or former shareholders of the Fund affected by such
error.
Without limiting the foregoing, the Custodian shall not
be held accountable or liable to the Fund, any shareholder or
former shareholder thereof or any other person for any delays or
losses, damages or expenses any of them may suffer or incur
resulting from (1) the Custodian's failure to receive timely and
suitable notification concerning quotations or corporate actions
relating to or affecting portfolio securities of the fund or
(2) any errors in the computation of the net asset value based
upon or arising out of quotations or information as to corporate
actions if received by the Custodian either (i) from a source
which the Custodian was authorized pursuant to the second
paragraph of this Section 5.D to rely upon, or (ii) from a source
which in the Custodian's reasonable judgment was as reliable a
source for such quotations or information as the sources
authorized pursuant to that paragraph. Nevertheless, the
Custodian will use its best judgment in determining whether to
verify through other sources any information it has received as
16
to quotations or corporate actions if the Custodian has reason to
believe that any such information might be incorrect.
In the event of any error or delay in the determination
of such net asset value for which the Custodian may be liable,
the Fund and the Custodian will consult and make good faith
efforts to reach agreement on what actions should be taken in
order to mitigate any loss suffered by the Fund or its present or
former shareholders, in order that the custodian's exposure to
liability shall be reduced to the extent possible after taking
into account all relevant factors and alternatives. Such actions
might include the Fund or the custodian taking reasonable steps
to collect from any shareholder or former shareholder who has
received any overpayment upon redemption of shares such overpaid
amount or to collect from any shareholder who has underpaid upon
a purchase of shares the amount of such underpayment or to reduce
the number of shares issued to such shareholder. It is
understood that in attempting to reach agreement on the actions
to be taken or the amount of the loss which should appropriately
be borne by the Custodian, the Fund and the Custodian will
consider such relevant factors as the amount of the loss
involved, the Fund's desire to avoid loss of shareholder good
will, the fact that other persons or entitles could have been
reasonably expected to have detected the error sooner than the
time it was actually discovered, the appropriateness of limiting
or eliminating the benefit which shareholders or former
shareholders might have obtained by reason of the error, and the
possibility that other parties providing services to the fund
might be induced to absorb a portion of the loss incurred.
E. Disbursements - Upon receipt of proper
instructions, to pay or cause to be paid, insofar as funds are
available for the purpose, bills, statements and other
obligations of the Fund (including but not limited to interest
charges, taxes, management fees, compensation to Fund officers
and employees, and other operating expenses of the Fund).
6. A. The Custodian shall not be liable for any action
taken or omitted in reliance upon proper instructions believed by
it to be genuine or upon any other written notice, request,
direction, instruction, certificate or other instrument believed
by it to be genuine and signed by the proper party or parties.
The Secretary or Assistant Secretary of the Fund shall
certify to the Custodian the names, signatures and scope of
authority of all persons authorized to give proper instructions
or any other such notice, request, direction, instruction,
certificate or instrument on behalf of the Fund, the names and
signatures of the officers of the Fund, the name and address of
the Shareholder Servicing Agent, and any resolutions, votes,
instructions or directions of the Fund's Board of Directors or
17
shareholders. Such certificate may be accepted and relied upon
by the Custodian as conclusive evidence of the facts set forth
therein and may be considered in full force and effect until
receipt of a similar certificate to the contrary.
So long as and to the extent that it is in the exercise
of reasonable care, the Custodian shall not be responsible for
the title, validity or genuineness of any property or evidence of
title thereto received by it or delivered b, it pursuant to this
Agreement.
The Custodian shall be entitled, at the expense of the
Fund, to receive and act upon advice of counsel (who may be
counsel for the Fund) on all matters, and the Custodian shall be
without liability for any action reasonably taken or omitted
pursuant to such advice.
B. With respect to the portfolio securities, cash and
other property of the Fund held by a Securities System, the
Custodian shall be liable to the Fund only for any loss or damage
to the Fund resulting from use of the Securities System if caused
by any negligence, misfeasance or misconduct of the Custodian or
any of its agents or of any of its or their employees or from any
failure of the Custodian or any such agent to enforce effectively
such rights as it may have against the Securities System.
C. Except as may otherwise be set forth in this
Agreement with respect to particular matters, the Custodian shall
be held only to the exercise of reasonable care and diligence in
carrying out the provisions of" this Agreement, provided that the
Custodian shall not thereby be required to take any action which
is in contravention of any applicable law. However, nothing
herein shall exempt the Custodian from liability due to its own
negligence or willful misconduct. The Fund agrees to indemnify
and hold harmless the Custodian and its nominees from all claims
and liabilities (including counsel fees) incurred or assessed
against it or its nominees in connection with the performance of
this Agreement, except such as may arise from its or its
nominee's breach of the relevant standard of conduct set forth in
this Agreement. Without limiting the foregoing indemnification
obligation of the Fund, the Fund agrees to indemnify the
Custodian and its nominees against any liability the Custodian or
such nominee may incur by reason of taxes assessed to the
Custodian or such nominee or other costs, liability or expense
incurred by the Custodian or such nominee resulting directly or
indirectly from the fact that portfolio securities or other
property of the Fund is registered in the name of the Custodian
or such nominee.
In order that the indemnification provisions contained
in this Paragraph 6.C shall apply, however, it is understood that
18
if in any case the Fund may be asked to indemnify or hold the
Custodian harmless, the Fund shall be fully and promptly advised
of all pertinent facts concerning the situation in question, and
it is further understood that the Custodian will use all
reasonable care to identify and notify the Fund promptly
concerning any situation which presents or appears likely to
present the probability of such a claim for indemnification
against the Fund. The Fund shall have the option to defend the
Custodian against any claim which may be the subject of this
indemnification, and in the event that the Fund so elects it will
so notify the Custodian, and thereupon the Fund shall take: over
complete defense of the claim, and the Custodian shall in such
situation initiate no further legal or other expenses for which
it shall seek indemnification under this Paragraph 6.C. The
Custodian shall in no case confess any claim or make any
compromise in any case in which the Fund will be asked to
indemnify the Custodian except with the Fund's prior written
consent.
It is also understood that the Custodian shall not be
liable for any loss involving any securities, currencies,
deposits or other property of the Fund, whether maintained by it,
a Subcustodian, an agent of the Custodian or a Subcustodian, a
Securities System, or a Banking Institution, or a loss arising
from a foreign currency transaction or contract, resulting from a
Sovereign Risk. A "Sovereign Risk" shall mean nationalization,
expropriation, devaluation, revaluation, confiscation, seizure,
cancellation, destruction or similar action by any governmental
authority, de facto or de jure; or enactment, promulgation,
imposition or enforcement by any such governmental authority of
currency restrictions, exchange controls, taxes, levies or other
charges affecting the Fund's property; or acts of war, terrorism,
insurrection or revolution; or any other similar act or event
beyond the Custodian's control.
D. The Custodian shall be entitled to receive
reimbursement from the Fund on demand, in the manner provided in
Section 7, for its cash disbursements, expenses and charges
(including the fees and expenses of any Subcustodian or any
Agent) in connection with this Agreement, but excluding salaries
and usual overhead expenses.
E. The Custodian may at any time or times in its
discretion appoint (and may at any time remove) any other bank or
trust company as its agent (an "Agent") to carry out such of the
provisions of this Agreement as the Custodian may from time to
time direct, provided, however, that the appointment of such
Agent (other than an Agent appointed pursuant to the third
paragraph of Section 3) shall not relieve the Custodian of any of
its responsibilities under this agreement.
19
F. Upon request, the Fund shall deliver to the
Custodian such proxies, powers of attorney or other instruments;
as may be reasonable and necessary or desirable in connection
with the performance by the Custodian or any Subcustodian of
their respective obligations under this Agreement or any
applicable: subcustodian agreement.
7. The Fund shall pay the Custodian a custody fee
based on such fee schedule as may from time to time be agreed
upon in writing by the Custodian and the Fund. Such fee,
together with all amounts for which the Custodian is to be
reimbursed in accordance with Section 6D, shall be billed to the
Fund in such a manner as to permit payment by a direct cash
payment to the Custodian.
8. This Agreement shall continue in full force and
effect until terminated by either party by an instrument in
writing delivered or mailed, postage prepaid, to the other party,
such termination to take effect not sooner than seventy five (75)
days after the date of such delivery or mailing. In the event of
termination the Custodian shall be entitled to receive prior to
delivery of the securities, funds and other property held by it
all accrued fees and unreimbursed expenses the payment of which
is contemplated by Sections 6D and 7, upon receipt by the Fund of
a statement setting forth such fees and expenses.
In the event of the appointment of a successor
custodian, it is agreed that the funds and securities owned by
the Fund and held by the Custodian or any Subcustodian shall be
delivered to the successor custodian, and the Custodian agrees to
cooperate with the Fund in execution of documents and performance
of other actions necessary or desirable in order to substitute
the successor custodian for the Custodian under this Agreement.
9. This Agreement constitutes the entire understanding
and agreement of the parties hereto with respect to the subject
matter hereof No provision of this Agreement may be amended or
terminated except by a statement in writing signed by the party
against which enforcement of the amendment or termination is
sought.
In connection with the operation of this Agreement, the
Custodian and the Fund may agree in writing from time to time on
such provisions interpretative of or in addition to the
provisions of this Agreement as may in their joint opinion be
consistent with the general tenor of this Agreement. No
interpretative or additional provisions made as provided in the
preceding sentence shall be deemed to be an amendment of this
Agreement.
20
10. This instrument is executed and delivered in The
Commonwealth of Massachusetts and shall be governed by and
construed according to the laws of said Commonwealth.
11. Notices and other writings delivered or mailed
postage prepaid to the Fund addressed to the Fund at 000 Xxxxx
Xxxxx 0xx Xxxxx, Xxxxxxxx, XX 00000 or to such other address as
the Fund may have designated to the Custodian in writing, or to
the Custodian at 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000,
Attention: Manager, Securities Department, or to such other
address as the Custodian may have designated to the Fund in
writing, shall be deemed to have been properly delivered or given
hereunder to the respective addressee.
12. This Agreement shall be binding on and shall inure
to the benefit of the Fund and the Custodian and their respective
successors and assigns, provided that neither party hereto may
assign this Agreement or an), of its rights or obligations
hereunder without the prior written consent of the other party.
13. This Agreement may be executed in any number of
counterparts each of which shall be deemed an original. This
Agreement shall become effective when one or more counterparts
have been signed and delivered by each of the parties.
21
IN WITNESS WHEREOF, each of the parties has caused this
Agreement to be executed in its name and behalf on the day and
year first above written.
ALLIANCE HEALTH CARE FUND, INC. XXXXX BROTHERS XXXXXXXX & CO.
By: /s/ Xxxxxx X. Xxxxxx, Xx. By:_________________________
22
XXXXX BROTHERS XXXXXXXX & CO. - GLOBAL CUSTODY NETWORK
ALLIANCE HEALTH CARE FUND, INC.
APPENDIX A
COUNTRY SUBCUSTODIAN DEPOSITORIES
ARGENTINA CITIBANK, N.A., BUENOS AIRES Caja de Valores
CRYL
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
AUSTRALIA NATIONAL AUSTRALIA BANK LTD., MELBOURNE Austraclear Ltd.
CHESS
National Australia Bank Agt. 5/l/85 Reserve Bank of
Agreement Amendment 2/13/92 Australia
Omnibus Amendment 11/22/93
AUSTRIA BANK AUSTRIA AG OeKB
Creditanstalt Bankverein Agreement 12/18/89
Omnibus Amendment 1/17/94
BAHRAIN BRITISH BANK OF THE MIDDLE EAST, None
BAHRAIN FOR HONGKONG
& SHANGHAI BANKING CORP. LTD.
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
BBME Supplement 5/14/96
Side Letter Agreement dated 7/28/97
BANGLADESH STANDARD CHARTERED BANK, DHAKA None
Standard Chartered Bank Agreement 2/18/92
Omnibus Amendment 6/13/94
Appendix 4/8/96
BELGIUM BANQUE BRUXELLES XXXXXXX CIK
National Bank of
Banque Xxxxxxxxx Xxxxxxx Xxx, 00/00/00 Xxxxxxx
Omnibus Amendment 3/1/94
BERMUDA THE BANK OF N.T. XXXXXXXXXXX
& SON LTD., BERMUDA None
The Bank of N.T. Xxxxxxxxxxx & Son
Ltd. Agreement 5/27/97
1
BOLIVIA CITIBANK, N.A., LA PAZ, BOLIVIA BCB
***Requires additional documentation BBV
prior to investment.
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8131/90
New York Agreement Amendment 7/26/96
Citibank N.A. Appointment Letter 4/13/98
BOTSWANA STANBIC BANK BOTSWANA LIMITED FOR None
STANDARD BANK OF SOUTH AFRICA
Standard Bank of South Africa Agreement 3/11194
Subsidiary Amendment 9/29/97
BRAZIL BANKBOSTON, N.A., SAO PAULO BOVESPA
CLC
The First National Bank of Boston
Agreement 1/5/88
Omnibus Amendment 2/22/94
Amendment 7/29/96
BULGARIA ING BANK, N.V., BULGARIA CDAD
BNB
ING Bank N.V. Agreement 9/15/97
CANADA ROYAL BANK OF CANADA Bank of Canada
CDS
The Royal Bank of Canada Agreement 2/23/96
CHILE CITIBANK, N.A., XXXXXXXX DCV
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 9/31/90
New York Agreement Amendment 7/26/96
CHINA STANDARD CHARTERED BANK, SHANGHAI SSCCRC
Standard Chartered Bank Agreement 2/18/92
Omnibus Amendment 6/13/94
Appendix 4/8/96
CHINA STANDARD CHARTERED BANK, SHENZHEN SSCC
Standard Chartered Bank Agreement 2/18/92
Omnibus Amendment 6/13194
Appendix 4/8/96
2
COLOMBIA CITITRUST COLOMBIA, S.A. SOCIEDAD DCV
FIDUCIARIA FOR CITIBANK, N.A. Deceval
Citibank, N.A, New York Agt. 7/16/81
New York Agreement Amendment &31/90
New York Agreement Amendment 7/26t96
Citibank, N.A./Cititrust Colombia
Agreement 12/2/91
Citibank, N.A. Subsidiary Amendment 10/19/95
CZECH REPUBLIC CITIBANK A.S. FOR CITIBANK N.A. SCP
Czech National
Citibank, N.A., New York Agt. 7/16/81 Bank
New York Agreement Amendment 8/31190
New York Agreement Amendment 7/26/96
Citibank N.A. / Citibank A.S. Agreement 6/24/96
DENMARK DEN DANSKE BANK VP
Den Danske Bank Agreement 1/ 1/89
Omnibus Amendment 00/0/00
XXXXXXX CITIBANK, N.A., QUITO Decevale
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment W31/90
New York Agreement Amendment 7/26/96
Citibank, Quito Side Letter 7/3/95
EGYPT CITIBANK, N.A., CAIRO MCSD
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
FINLAND XXXXXX BANK FCSD
Union Bank of Finland Agreement 2/27/89
Omnibus Amendment 4/6/94
FRANCE CREDIT AGRICOLE INDOSUEZ SICOVAM
Banque Indosuez Agreement 7/19/90 Banque de France
Omnibus Amendment 3/10/94
GERMANY DEUTSCHE BANK, GERMANY DBC
Deutsche Bank Agreement 8/21/96
3
GHANA MERCHANT BANK (GHANA) LIMITED FOR None
STANDARD BANK OF SOUTH AFRICA
***Requires additional documentation
prior to investment
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 9/29/97
GREECE CITIBANK, N.A., ATHENS Apothetirion
Titlon A.E.
Citibank, N.A-, New York Agt. 7/16/81 Bank of Greece
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
HONG KONG HONGKONG & SHANGHAI BANKING CORP. LTD., HKSCC
HONG KONG CMU
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
HUNGARY CITIBANK BUDAPEST RT. FOR CITIBANK, N.A. KELER Ltd.
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank, N.A. Subsidiary Amendment 10/19/95
Citibank, N.A. / Citibank Budapest Agreement 6/23/92
Citibank, N.A. / Citibank Budapest Amendment 9129/92
INDIA CITIBANK, N.A., MUMBAI NSDL
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank, Mumbai Amendment 11/17/93
INDONESIA CITIBANK, N.A., JAKARTA None
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
IRELAND ALLIED IRISH BANKS PLC CrestCo.
Gilt Settlement
Allied Irish Banks Agreement 1/10/89 Office
Omnibus Amendment 4/8/94
4
ISRAEL BANK HAPOALIM X.X. XXXX
Clearinghouse
Bank Hapoalint Agreement 8/27/92 Ltd.
ITALY BANCA COMMERCLALE ITALLANA Monte Titoli
Banca DItalia
Banca, Commerciale Italiana Agreement 5/8/89
Agreement Amendment 10/8/93
Omnibus Amendment 12/14/93
JAPAN BANK OF TOKYO - MITSUBISHI, LTD. JASDEC
Bank of Japan
Bank of Tokyo - Mitsubishi Agreement 6/17196
JORDAN BRITISH BANK OF THE MIDDLE EAST, JORDAN None
FOR HONGKONG & SHANGHAI BANKING CORP.
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14196
BBME Supplement 5/14/96
Side letter Agreement dated 7/28/97
KENYA STANBIC BANK KENYA LIMITED FOR STANDARD None
BANK OF SOUTH AFRICA
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 9/29/97
KOREA CITIBANK, N.A., SEOUL KSD
Citibank, N.A, New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank, Seoul Agreement Supplement 10/28/94
LEBANON BRITISH BANK OF THE MIDDLE EAST, LEBANON Midclear
FOR HONGKONG & SHANGHAI BANKING CORP.
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
BBME Supplement 5/14/96
Side letter Agreement dated 7/28/97
LUXEMBOURG KREDIETBANK LUXEMBOURG Cedel
Krediethank Luxembourg Agt. 4n/98
5
MAURITIUS HONGKONG & SHANGHAI BANKING CORP. LTD., CDS
MAURITIUS
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
MEXICO CITIBANK MEXICO, S.A. Indeval
Banco de Mexico
Citibank, N.A, New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank Mexico, S.A. Amendment 2/28/95
MOROCCO BANQUE MAROCAINE DU COMMERCE EXTERIEUR MAROCLEAR
BMCE Agreement 7/6/94
NETHERLANDS ABN-AMRO BANK NECIGEF
ABN-AMRO Agreement 12/19/88
NETHERLANDS MEESPIERSON NECIGEF
Master Subcustodian Agreement Pending
NEW ZEALAND NATIONAL AUSTRALIA BANK LTD., AUCKLAND NZCSD
National Australia Bank Agt. 5/l/85
Agreement Amendment 2/13/92
Omnibus Amendment 11/22/93
New Zealand Xxxxxxxx 0/0/00
XXXXXX CHRISTIANIA BANK VPS
Christiania Bank Agreement 0/0/00
XXXX XXXXXXX XXXX XX XXX XXXXXX XXXX, XXXX Muscat Depository
FOR HONGKONG & SHANGHAI BANKING CORP. LTD. & Securities &
Registration Co.
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
BBME Supplement 5/14/96
Side letter Agreement dated 7/28/97
6
PAKISTAN STANDARD CHARTERED BANK, KARACHI CDC
Standard Chartered Bank Agreement 2/18/92
Omnibus Amendment 6/13/94
Xxxxxxxx 0/0/00
XXXX CITIBANK N.A., LIMA CAVALI
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
PHILIPPINES CITIBANK, N.A., MANILA PCD
XXXX
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31190
New York Agreement Amendment 7/26/96
POLAND CITIBANK (POLAND), S.A. FOR CITIBANK, N.A. NDS
National Bank of
Citibank, N.A., New York Agt. 7/16/81 Poland
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
Citibank Subsidiary Amendment 10/30/95
Citibank, N.A. / Citibank Poland S.A. Agt. 11/6/92
PORTUGAL BANCO COMERCIAL PORTUGUES CVM
Banco Comercial Portugues 5/18/98
ROMANIA ING BANK N.V., ROMANIA SNCDD
BSE
ING Bank N.V. Agreement 9/29/97 NBR
SINGAPORE HONGKONG & SHANGHAI BANKING CORP. LTD., CDP
SINGAPORE
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93
Schedule 5/14/96
SLOVAKIA ING BANK N.V., BRATISLAVA SCP
National Bank of
ING Bank N.V. Agreement 0/x/00 Xxxxxxxx
XXXXX XXXXXX FIRST NATIONAL BANK OF SOUTHERN AFRICA CD
First National Bank of Southern Africa
Agt. 8/7/91
7
SPAIN BANCOSANTANDER SCLV
Banco de Espana
Banco Santander Agreement 12114/88
SRI LANKA HONGKONG & SHANGHAI BANKING CORP. LTD., CDS
COLOMBO
Hongkong & Shanghai Banking Corp. Agt.
4/19191
Omnibus Supplement 12/29/93
Schedule 5/14/96
SWAZILAND STANBIC BANK SWAZILAND LIMITED FOR STANDARD None
BANK OF SOUTH AFRICA
Standard Bank of South Africa Agreement
3/11/94
Subsidiary Amendment 9129/97
SWEDEN SKANDINAVISKA ENSKILDA BANKEN VPC
Skandinaviska Enskilden Banken Agreement
2/20/89
Omnibus Amendment 12/3/93
SWITZERLAND UBS AG SEGA
Union Bank of Switzerland Agreement 12/20/88
Omnibus Amendment 11129/94
TAIWAN STANDARD CHARTERED BANK, TAIPEI TSCD
Standard Chartered Bank Agreement 2/18/92
Omnibus Amendment 6/13/94
Appendix 4/8/96
THAILAND HONGKONG & SHANGHAI BANKING CORP. LTD., TSDC
BANGKOK
Hongkong & Shanghai Banking Corp. Agt. 4/19/91
Omnibus Supplement 12/29/93 Schedule 5/14196
TRANSNATIONAL XXXXX BROTHERS XXXXXXXX & CO. Cedel
Euroclear
8
TURKEY CITIBANK, N.A., ISTANBUL Takasbank
Central Bank
Citibank, N.A., New York Agt. 7/16/81 of Turkey
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
UNITED KINGDOM XXXXXXX XXXX XXX XXX
XX0
Xxxxxxx Bank Agreement 8/8/90 CrestCo.
Onulibus Amendment 12/15/93
URUGUAY BANKBOSTON, N.A., MONTEVIDEO None
The First National Bank of Boston
Agreement 1/5/88
Omnibus Amendment 2/22/94
Amendment 7/29/96
VENEZUELA CITIBANK, N.A., CARACAS CVV
Citibank, N.A., New York Agt. 7/16/81
New York Agreement Amendment 8/31/90
New York Agreement Amendment 7/26/96
ZAMBIA STANBIC BANK ZAMBIA LTD. FOR STANDARD XxXX Central
BANK OF SOUTH AFRICA Shares
Depository Ltd.
Standard Bank of South Africa Agreement BoZ
3/11/94
Subsidiary Amendment 10/3/96
ZIMBABWE STANBIC BANK ZIMBABWE LTD. FOR STANDARD None
BANK OF SOUTH AFRICA
Standard Bank of South Africa Agreement 3/11/94
Subsidiary Amendment 10/3/96
I HEREBY CERTIFY THAT AT ITS MEETING ON JULY 13, 1999 THE BOARD
APPROVED THE COUNTRIES, SUBCUSTODIANS, AGREEMENTS AND CENTRAL
DEPOSITORIES LISTED ON THIS APPENDIX.
/s/ Xxxxxxxx Xxxxxxxx
SIGNATURE
NAME: Xxxxxxxx Xxxxxxxx
TITLE: Assistant Secretary
DATE: July 13, 1999
9
APPENDIX B
ALLIANCE HEALTH CARE FUND, INC.
THE FOLLOWING AUTHORIZED SOURCES ARE TO BE USED FOR PRICING AND
FOREIGN EXCHANGE QUOTATIONS, CORPORATE ACTIONS, DIVIDENDS AND
RIGHTS OFFERINGS:
AUTHORIZED SOURCES
BLOOMBERG
EXTEL (LONDON)
FUND MANAGERS
INTERACTIVE DATA CORPORATION
REPUTABLE BROKERS
REUTERS
SUBCUSTODIAN BANKS
TELEKURS
VALORINFORM (GENEVA)
REPUTABLE FINANCIAL PUBLICATIONS
STOCK EXCHANGES
FINANCIAL INFORMATION INC. CARD
XX XXXXX
FRI CORPORATION
XXXXXXX XXXXX PRICING SERVICE
XXXXXX
APPROVED:________________________
DATE
10
00250248.AD0
