Common use of Contractual Income Clause in Contracts

Contractual Income. In accordance with the Custodian's standard operating procedure, the Custodian shall credit the Account with income and maturity proceeds on securities on contractual payment date net of any taxes or upon actual receipt, as directed by the Client pursuant to Authorized Instructions, which may be standing instructions of general application. To the extent the Custodian credits income on contractual payment date, the Custodian may, as soon as reasonably practicable following the contractual payment date, reverse such accounting entries to the contractual payment date if the Custodian reasonably believes that such amount will not be received, provided that the Custodian consults with Client or its Investment Manager prior to making any such reversing entry.

Contractual Income. In accordance with the Custodian's standard ------------------ operating procedure, the Custodian shall credit the Account with income and maturity proceeds on securities on contractual payment date net of any taxes or upon actual receipt, as directed by the Client pursuant to Authorized Instructions, which may be standing instructions of general application. To the extent the Custodian credits income on contractual payment date, the Custodian may, as soon as reasonably practicable following the contractual payment date, reverse such accounting entries to the contractual payment date if the Custodian reasonably believes that such amount will not be received, provided that the Custodian consults with Client or its Investment Manager prior to making any such reversing entry.