Common use of Custody Manager Clause in Contracts

Custody Manager. The Non-U.S. Custody Manager will provide amended versions of Schedule A in accordance with Section 3.5. Upon the receipt by the Non-U.S. Custody Manager of Proper Instructions to open an account or to place or maintain Non-U.S. Assets in a country listed on Schedule A, and the fulfillment by the Trust on behalf of a Fund of applicable account opening requirements for such country, the Non-U.S. Custody Manager shall be deemed to have been delegated responsibility as Non-U.S. Custody Manager with respect to that country and to have accepted such delegation. Execution of this Agreement by the Trust shall be deemed to be a Proper Instruction to open an account, or to place Non-U.S. Assets, in each country listed on Schedule A. Following the receipt of Proper Instructions directing the Non-U.S. Custody Manager to close an account of a Fund with the Non-U.S. Sub-Custodian selected by the Non-U.S. Custody Manager in a designated country, the delegation on behalf of such Fund to the Custodian as Non-U.S. Custody Manager for that country shall be deemed to have been withdrawn and the Custodian shall immediately cease to be the Non-U.S. Custody Manager with respect to that country. The Non-U.S. Custody Manager may withdraw its acceptance of delegated responsibilities with respect to a designated country upon written notice to the Trust. Sixty days (or such longer period as to which the parties agree in writing) after receipt of any such notice by the Trust, the Custodian shall have no further responsibility as Non-U.S. Custody Manager with respect to the country as to which the Custodian's acceptance of delegation is withdrawn.

Custody Manager. The Non-U.S. Custody Manager will provide amended versions of Schedule A in accordance with Section 3.5. Upon the receipt by the Non-U.S. Custody Manager of Proper Instructions to open an account or to place or maintain Non-U.S. Assets in a country listed on Schedule A, and the fulfillment by the Trust [Fund Entity] on behalf of a Fund of applicable account opening requirements for such country, the Non-U.S. Custody Manager shall be deemed to have been delegated responsibility as Non-U.S. Custody Manager with respect to that country and to have accepted such delegation. Execution of this Agreement by the Trust [Fund Entity] shall be deemed to be a Proper Instruction to open an account, or to place Non-U.S. Assets, in each country listed on Schedule A. Following the receipt of Proper Instructions directing the Non-U.S. Custody Manager to close an account of a Fund with the Non-U.S. Sub-Custodian selected by the Non-U.S. Custody Manager in a designated country, the delegation on behalf of such Fund to the Custodian as Non-U.S. Custody Manager for that country shall be deemed to have been withdrawn and the Custodian shall immediately cease to be the Non-U.S. Custody Manager with respect to that country. The Non-U.S. Custody Manager may withdraw its acceptance of delegated responsibilities with respect to a designated country upon written notice to the Trust[Fund Entity]. Sixty days (or such longer period as to which the parties agree in writing) after receipt of any such notice by the Trust[Fund Entity], the Custodian shall have no further responsibility as Non-U.S. Custody Manager with respect to the country as to which the Custodian's acceptance of delegation is withdrawn.