Common use of Appointment of Subcustodians; Use of Securities Depositories Clause in Contracts

Appointment of Subcustodians; Use of Securities Depositories. (a) Bank is authorized under this Agreement to act through and hold Customer's Financial Assets with Subcustodians, being at the date of this Agreement the entities listed in Schedule 2. Bank will use reasonable care in the selection and continued appointment of such Subcustodians. In addition, Bank and each Subcustodian may deposit Financial Assets with, and hold Financial Assets in, any Reported Depository or "other U.S. Securities Depository." Customer will provide Bank with such documentation or acknowledgements that Bank may reasonably require to hold the Financial Assets in such Securities Depositories.