Custody of Cash. As custodian for the Fund, the Bank will open and maintain a separate account or accounts in the name of the Fund or in the name of the Bank, as Custodian of the Fund, and will deposit to the account of the Fund all of the cash of the Fund, except for cash held by a subcustodian appointed pursuant to Sections 14.2 or 14.3 hereof, including borrowed funds, delivered to the Bank, subject only to draft or order by the Bank acting pursuant to the terms of this Agreement. Pursuant to the Bank's internal policies regarding the management of cash accounts, the Bank may segregate certain portions of the cash of the Fund into a separate savings deposit account upon which the Bank reserves the right to require seven (7) days notice prior to withdrawal of cash from such an account. Upon receipt by the Bank of Proper Instructions (which may be continuing instructions) or in the case of payments for redemptions and repurchases of outstanding shares of common stock of the Fund, notification from the Fund's transfer agent as provided in Section 7, requesting such payment, designating the payee or the account or accounts to which the Bank will release funds for deposit, and stating that it is for a purpose permitted under the terms of this Section 5, specifying the applicable subsection, the Bank will make payments of cash held for the accounts of the Fund, insofar as funds are available for that purpose, only as permitted in subsections 5.1-5.9 below.
Custody of Cash. As custodian for the Fund, the Bank will open and maintain a separate account or accounts in the name of the Fund or in the name of the Bank, as Custodian of the Fund, and will deposit to the account of the Fund all of the cash of the Fund, except for cash held by a subcustodian appointed pursuant to Sections 13.2 or 13.3 hereof, including borrowed funds, delivered to the Bank, subject only to draft or order by the Bank acting pursuant to the terms of this Agreement. Upon receipt by the Bank of Proper Instructions (which may be continuing instructions) or in the case of payments for redemptions and repurchases of outstanding shares of common stock of the Fund, notification from the Fund's transfer agent as provided in Section 7, requesting such payment, designating the payee or the account or accounts to which the Bank will release funds for deposit, and stating that it is for a purpose permitted under the terms of this Section 5, specifying the applicable subsection, the Bank will make payments of cash held for the accounts of the Fund, insofar as funds are available for that purpose, only as permitted in subsections 5.1-5.9 below.
Custody of Cash. As custodian for the Fund, the Bank will open and maintain a separate account or accounts in the name of the Fund or in the name of the Bank, as Custodian of the Fund, and will deposit to the account of the Fund all of the cash of the Fund, except for cash held by a subcustodian appointed pursuant to Sections 14.2 or 14.3 hereof and cash maintained by the Fund in a bank account established and used in accordance with Rule 17f-3 under the 1940 Act, including borrowed funds, delivered to the Bank, subject only to draft or order by the Bank acting pursuant to the terms of this Agreement. Upon receipt by the Bank of Proper Instructions (which may be continuing instructions) or, in the case of payments for redemptions and repurchases of outstanding shares of common stock of the Fund, notification from the Fund's transfer agent as provided in Section 7, requesting such payment, designating the payee or the account or accounts to which the Bank will release funds for deposit, and stating that it is for a purpose permitted under the terms of this Section 5, specifying the applicable subsection, the Bank will make payments of cash held for the accounts of the Fund, insofar as funds are available for that purpose but only as permitted in subsections 5.1-5.9 below.
Custody of Cash. As custodian, the Bank will open and maintain a --------------- separate account or accounts in the name of each Master Portfolio or in the name of the Bank, as custodian of the Master Portfolios, and will deposit to the account of a Master Portfolio all of the cash of the Master Portfolio, except for cash held by a sub-custodian appointed pursuant to subsections 13.3 or 13.4 hereof, including borrowed funds, delivered to the Bank, subject only to draft or order by the Bank acting pursuant to the terms of this Agreement. Upon receipt by the Bank of Proper Instructions (which may be continuing instructions) or in the case of payments for redemptions and repurchases of outstanding interests of a Master Portfolio, notification from the Master Portfolio's transfer agent as provided in Section 7, requesting such payment, designating the payee or the account or accounts to which the Bank will release funds for deposit, and stating that it is for a purpose permitted under the terms of this Section 5, specifying the applicable subsection, the Bank will make payments of cash held for the accounts of the Master Portfolio, insofar as funds are available for that purpose, only as permitted in subsections 5.1-5.9 below.
Custody of Cash. As Custodian for the Trust, the Bank will open and ---------------- maintain a separate account or accounts for each series or portfolio, in the name of the Trust or in the name of the Bank, as Custodian of the Trust, and will deposit to such account or accounts of the Trust all of the cash of the Trust, except for cash held by a subcustodian appointed pursuant to Section 13.2 hereof, including borrowed funds, delivered to the Bank. Upon receipt by the Bank of Proper Instructions (which may be continuing instructions) or in the case of payments for redemptions and repurchases of outstanding shares of the Trust, notification from the Trust's transfer agent as provided in Section 7 hereof, requesting such payment, designating the payee or the account or accounts to which the Bank will release funds for deposit, and stating that it is for a purpose permitted under the terms of this Section 5, specifying the applicable subsection, the Bank will make payments of cash held for the accounts of the Trust, insofar as funds are available for that purpose, only as permitted in subsections 5.1-5.9 below. Nothing contained herein will act to preclude the Trust from establishing one or more joint trading accounts to invest monies that are uninvested at the close of business, provided that appropriate regulatory approvals are obtained.
Custody of Cash. As custodian for the Fund, the Bank will open and --------------- maintain a separate account or accounts in the name of the Fund or in the name of the Bank, as Custodian of the Fund, and will deposit to the account of the Fund all of the cash of the Fund, except for cash held by a subcustodian appointed pursuant to Sections 14.2 or 14.3 hereof, including borrowed funds, delivered to the Bank, subject only to draft or order by the Bank acting pursuant to the terms of this Agreement. Pursuant to the Bank's internal policies regarding the management of cash accounts and in order to allow the Bank to comply with applicable Federal Deposit Insurance Corporation and Federal Reserve Board regulations, the Bank may segregate certain portions of the cash of the Fund into a separate savings deposit account upon which the Bank reserves the right to require seven (7) days notice prior to withdrawal of cash from such an account. The Fund may at any time instruct the Bank to cease such segregation of the Fund's cash. Upon receipt by the Bank of Proper Instructions (which may be continuing instructions) or in the case of payments for redemptions and repurchases of outstanding shares of common stock of the Fund, notification from the Fund's transfer agent as provided in Section 7, requesting such payment, designating the payee or the account or accounts to which the Bank will release funds for deposit, and stating that it is for a purpose permitted under the terms of this Section 5, specifying the applicable subsection, the Bank will make payments of cash held for the accounts of the Fund, insofar as funds are available for that purpose, only as permitted in subsections 5.1-5.9 below.
Custody of Cash. As custodian for the Company, the Bank will open and maintain a separate account or accounts in the name of each Series within the Company or in the name of the Bank, as Custodian for the Company's Series, and will deposit to the account of the Series all of the cash, except for cash held by a subcustodian appointed pursuant to Sections 14.2 or 14.3 hereof, including borrowed funds, delivered to the Bank, subject only to draft or order by the Bank acting pursuant to the terms of this Agreement. Pursuant to the Bank's internal policies regarding the management of cash accounts, the Bank may segregate certain portions of the cash of the Series as permitted in subsections 5.1-5.9 below.
Custody of Cash. As custodian for the Trust, the Bank will open and maintain a separate account or accounts in the name of the Trust or in the name of the Bank, as Custodian of each of the Portfolios of the Trust, and will deposit to the account of each Portfolio all of the cash of the Portfolio, except for cash held by a subcustodian appointed pursuant to Section 13.2 hereof, including borrowed funds, delivered to the Bank, subject only to draft or order by the Bank acting pursuant to the terms of this Agreement. Upon receipt by the Bank of Proper Instructions (which may be continuing instructions) or in the case of payments for redemptions and repurchases of outstanding interests of each Portfolio of the Trust, notification from the Trust's transfer agent as provided in Section 7, which in either case requests such payment, designates the payee or the account or accounts to which the Bank will release funds for deposit, and states that it is for a purpose permitted under the terms of this Section 5, specifying the applicable subsection, or describing such purpose with sufficient particularity to permit the Bank to ascertain the applicable subsection, the Bank will make payments of cash held for the accounts of the Trust, insofar as funds are available for that purpose, in the following circumstances:
Custody of Cash. As custodian for the Company, the Bank will open and maintain a separate account or accounts in the name of the Company or in the name of the Bank, as Custodian of the Company, and will deposit to the account of the Company all of the cash of the Company, except for cash held by a subcustodian appointed pursuant to Sections 14.2 or 14.3 hereof, including borrowed funds, delivered to the Bank, subject only to draft or order by the Bank acting pursuant to the terms of this Agreement. Pursuant to the Bank's internal policies regarding the management of cash accounts, the Bank may segregate that portion of the cash of the Company that the Company wishes to place under interest bearing deposit arrangements with the Bank into a separate savings deposit account upon which the Bank reserves the right to require seven (7) days notice prior to withdrawal of cash from the account. Upon receipt by the Bank of Proper Instructions (which may be continuing instructions) (or in the case of payments for redemptions and repurchases of outstanding shares of common stock of the Company, notification from the Company's transfer agent as provided in Section 7, requesting such payment), designating the payee or the account or accounts to which the Bank will release funds for deposit, and stating that it is for a purpose permitted under the terms of this Section 5, specifying the applicable subsection, the Bank will make payments of cash held for the accounts of the Company, insofar as funds are available for that purpose, only as permitted in subsections 5.1-5.9 below.
Custody of Cash. As custodian for the Fund, the Bank will open and maintain a separate account or separate accounts in the name of the Fund or in the name of the Bank, as Custodian of the Fund, and will deposit to the account of the Fund all of the cash of the Fund, including borrowed funds, delivered to the Bank, except for cash held by a subcustodian appointed pursuant to Section 13.2 hereof, subject only to draft or order by the Bank acting pursuant to the terms of this Agreement. Notwithstanding the provisions of Section 3 hereof, the Bank may maintain a single cash account for all of the Fund's series and portfolios, provided that the Bank maintains appropriate sub-accounting records to identify the cash belonging to each separate series or portfolio. Upon receipt by the Bank of Proper Instructions requesting such payment, designating the payee or the account or accounts to which the Bank will release funds for deposit, and stating that it is for a purpose permitted under the terms of this Section 5, Subsections 6.7, 6.8, 6.9 or 6.10 or Section 8 and specifying the applicable section or subsection or permitted purpose, or describing the purpose of the transaction with sufficient particularity to permit the Bank to ascertain the applicable section or subsection, the Bank will make payments of cash held for the accounts of the Fund.
