Common use of Brief Description Clause in Contracts

Brief Description. The Guide to Custody in World Markets (annually) An overview of safekeeping and settlement practices and procedures in each market in which State Street Bank and Trust Company offers custodial services. Global Custody Network Review (annually) Information relating to the operating history and structure of depositories and subcustodians located in the markets in which State Street Bank and Trust Company offers custodial services, including transnational depositories. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Custodian or Foreign Securities System, (ii) the Fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Fund’s ability to recover in the event of a loss by a Foreign Sub- Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts State Street Bank and Trust Company has entered into with each subcustodian in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Foreign Custody Advisories (as necessary): With respect to markets in which State Street Bank and Trust Company offers custodial services which exhibit special custody risks, developments which may impact State Street’s ability to deliver expected levels of service.

Brief Description. The Guide to Custody in World Markets (annuallyhardcopy annually and regular website updates) An overview of settlement and safekeeping and settlement procedures, custody practices and procedures in each market foreign investor considerations for the markets in which State Street Bank and Trust Company offers custodial services. Global Custody Network Review (annually) Information relating to Foreign Sub-Custodians in State Street’s Global Custody Network. The Review stands as an integral part of the operating history and structure of depositories and subcustodians located in the markets in which materials that State Street Bank provides to its U.S. mutual fund clients to assist them in complying with SEC Rule 17f-5. The Review also gives insight into State Street’s market expansion and Trust Company offers custodial servicesForeign Sub-Custodian selection processes, including transnational depositoriesas well as the procedures and controls used to monitor the financial condition and performance of our Foreign SubCustodian banks. Securities Depository Review (annually) Custody risk analyses of the Foreign Securities Depositories presently operating in Network markets. This publication is an integral part of the materials that State Street provides to its U.S. mutual fund clients to meet informational obligations created by SEC Rule 17f-7. Global Legal Survey (annually) With respect to each market in which State Street Bank and Trust Company offers custodial services, opinions relating to whether local law restricts (i) access of a fund’s independent public accountants to books and records of a Foreign Sub- Sub-Custodian or Foreign Securities System, (ii) the Funda fund’s ability to recover in the event of bankruptcy or insolvency of a Foreign Sub-Custodian or Foreign Securities System, (iii) the Funda fund’s ability to recover in the event of a loss by a Foreign Sub- Sub-Custodian or Foreign Securities System, and (iv) the ability of a foreign investor to convert cash and cash equivalents to U.S. dollars. Subcustodian Agreements (annually) Copies of the subcustodian contracts that State Street Bank and Trust Company has entered into with each subcustodian Foreign Sub-Custodian that maintains U.S. mutual fund assets in the markets in which State Street Bank and Trust Company offers subcustody services to its US mutual fund clients. Network Bulletins (weekly): Developments of interest to investors in the markets in which State Street Bank and Trust Company offers custodial services. Xxxxxx Xxxxxx Bulletin (daily or as necessary) Information on changing settlement and custody conditions in markets where State Street offers custodial services. Includes changes in market and tax regulations, depository developments, dematerialization information, as well as other market changes that may impact State Street’s clients. Foreign Custody Advisories (as necessary): With respect to ) For those markets in which where State Street Bank and Trust Company offers custodial services which that exhibit special risks or infrastructures impacting custody, State Street issues market advisories to highlight those unique market factors which might impact our ability to offer recognized custody risks, developments which may impact service levels. Material Change Notices (presently on a quarterly basis or as otherwise necessary) Informational letters and accompanying materials confirming State Street’s ability to deliver expected levels foreign custody arrangements, including a summary of service.material changes with Foreign Sub-Custodians that have occurred during the previous quarter. The notices also identify any material changes in the custodial risks associated with maintaining assets with Foreign Securities Depositories. SCHEDULE D TO MASTER CUSTODIAN AGREEMENT SPECIAL SUB-CUSTODIANS None FUNDS TRANSFER ADDENDUM OPERATING GUIDELINES