Common use of Eligible Securities Depositories Clause in Contracts

Eligible Securities Depositories. (a) With respect to each Eligible Securities Depository (as defined in Rule 17f-7) identified by the Custodian to the Board from time to time, Custodian shall exercise reasonable care, prudence, and diligence such as a person having responsibilities for the safekeeping of the Fund's assets would exercise (i) to provide the Fund or its investment adviser with an analysis of the custody risks associated with maintaining assets with that Eligible Securities Depository, and (ii) to monitor such custody risks on a continuing basis and promptly notify the Fund of any material change in such risks.

Eligible Securities Depositories. (a) With respect to each Eligible Securities Depository (as defined in Rule 17f-7) identified by the Custodian to the Board from time to time, Custodian shall exercise reasonable care, prudence, and diligence such as a person having responsibilities for the safekeeping of the Fund's ’s assets would exercise (i) to provide the Fund or its investment adviser with an analysis of the custody risks associated with maintaining assets with that the Eligible Securities Depository, and (ii) to monitor such custody risks on a continuing basis and promptly notify the Fund of any material change in such risks.