Common use of Clearing Accounts Clause in Contracts

Clearing Accounts. The Fund shall open and/or maintain such bank account or accounts as shall reasonably be required by OSS for controlling payments, the disbursement of dividends, capital gains distributions and share redemption payments pursuant to the provisions hereof, and any other accounts deemed necessary by OSS or the Fund to carry out the provisions of this Agreement, with a bank or banks selected by OSS with the prior approval of the Fund's Board. Such account may be an omnibus account used for all Funds for which OSS or one of its subsidiaries acts as transfer agent. The Fund shall authorize officers or employees of OSS to act as authorized signatories to disburse funds held in such accounts. OSS shall be accountable to the Fund for the management of such accounts by OSS (and the funds at any time on deposit therein).

Clearing Accounts. The Fund shall open and/or maintain such bank account or accounts as shall reasonably be required by OSS OFS for controlling payments, the disbursement of dividends, capital gains distributions and share redemption payments pursuant to the provisions hereof, and any other accounts deemed necessary by OSS OFS or the Fund to carry out the provisions of this Agreement, with a bank or banks selected by OSS OFS with the prior approval of the Fund's Board. Such account may be an omnibus account used for all Funds for which OSS OFS or one of its subsidiaries acts as transfer agent. The Fund shall authorize officers or employees of OSS OFS to act as authorized signatories to disburse funds held in such accounts. OSS OFS shall be accountable to the Fund for the management of such accounts by OSS OFS (and the funds at any time on deposit therein).

Clearing Accounts. The Each Fund shall open and/or maintain such bank account or accounts as shall reasonably be required by OSS OFS for controlling payments, the disbursement of dividends, capital gains distributions and share redemption payments pursuant to the provisions hereof, and any other accounts deemed necessary by OSS OFS or the a Fund to carry out the provisions of this Agreement, with a bank or banks selected by OSS OFS with the prior approval of the FundCompany's Board. Such account may be an omnibus account used for all Funds funds for which OSS OFS or one of its subsidiaries acts as transfer agent. The Fund Company shall authorize officers or employees of OSS the Company to act as authorized signatories to disburse funds held in such accounts. OSS OFS shall be accountable to the Company and the applicable Fund for the management of such accounts by OSS OFS (and the funds at any time on deposit therein).

Clearing Accounts. The Each Fund shall open and/or maintain such bank account or accounts as shall reasonably be required by OSS OFS for controlling payments, the disbursement of dividends, capital gains distributions and share redemption payments pursuant to the provisions hereof, and any other accounts deemed necessary by OSS OFS or the a Fund to carry out the provisions of this Agreement, with a bank or banks selected by OSS OFS with the prior approval of the FundCompany's Board. Such account may be an omnibus account used for all Funds funds for which OSS OFS or one of its subsidiaries acts as transfer agent. The Fund Company shall authorize officers offices or employees of OSS the Company to act as authorized signatories to disburse funds held in such accounts. OSS OFS shall be accountable to the Company and the applicable Fund for the management of such accounts by OSS OFS (and the funds at any time on deposit therein).