Common use of Instructions Consistent With The Declaration, etc Clause in Contracts

Instructions Consistent With The Declaration, etc. (a) Unless otherwise provided in this Agreement, The Chase Manhattan Bank shall act only upon Proper Instructions. The Chase Manhattan Bank may assume that any Proper Instructions received hereunder are not in any way inconsistent with any provision of the Declaration or By-Laws or any vote or resolution of the Fund's Board of Trustees or any committee thereof. The Chase Manhattan Bank shall be entitled to rely upon any Proper Instructions actually received by The Chase Manhattan Bank pursuant to this Agreement. The Fund agrees that The Chase Manhattan Bank shall incur no liability in acting in good faith upon Proper Instructions given to The Chase Manhattan Bank, except to the extent such liability was incurred as a result of The Chase Manhattan Bank's negligence or willful misconduct. In accord with instructions from the Fund, as 12 required by accepted industry practice or as The Chase Manhattan Bank may elect in effecting the execution of Fund instructions, advances of cash or other Property made by The Chase Manhattan Bank, arising from the purchase, sale, redemption, transfer or other disposition of Property of the Fund, or in connection with the disbursement of funds to any party, or in payment of fees, expenses, claims or liabilities owed to The Chase Manhattan Bank by the Fund, or to any other party which has secured judgment in a court of law against the Fund which creates an overdraft in the accounts or over-delivery of Property, shall be deemed a loan by The Chase Manhattan Bank to the Fund, payable on demand, bearing interest at such rate customarily charged by The Chase Manhattan Bank for similar loans. (b) The Fund agrees that test arrangements, authentication methods or other security devices to be used with respect to instructions which the Fund may give by telephone, telex, TWX, facsimile transmission, bank wire or other teleprocess, or through an electronic instruction system, shall be processed in accordance with terms and conditions for the use of such arrangements, methods or devices as The Chase Manhattan Bank may put into effect and modify from time to time. The Fund shall safeguard any test keys, identification codes or other security devices which The Chase Manhattan Bank makes available to the Fund and agrees that the Fund shall be responsible for any loss, liability or damage incurred by The Chase Manhattan Bank or by the Fund as a result of The Chase Manhattan Bank's acting in accordance with instructions from any unauthorized person using the proper security device except to the extent such loss, liability or damage was incurred as a result of The Chase Manhattan Bank's negligence or willful misconduct. The Chase Manhattan Bank may electronically record, but shall not be obligated to so record, any instructions given by telephone and any other telephone discussions with respect to the Fund. In the event that the Fund uses The Chase Manhattan Bank's Asset Management system or any successor electronic 13 communications or information system, the Fund agrees that The Chase Manhattan Bank is not responsible for the consequences of the failure of that system to perform for any reason, beyond the reasonable control of The Chase Manhattan Bank, or the failure of any communications carrier, utility, or communications network. In the event that system is inoperable, the Fund agrees that it will accept the communication of transaction instructions by telephone, facsimile transmission on equipment compatible to The Chase Manhattan Bank's facsimile receiving equipment or by letter, at no additional charge to the Fund.

Instructions Consistent With The Declaration, etc. (a) Unless otherwise provided in this Agreement, The Chase Manhattan Bank shall act only upon Proper Instructions. The Chase Manhattan Bank may assume that any Proper Instructions received hereunder are not in any way inconsistent with any provision of the Declaration or By-Laws or any vote or resolution of the FundTrust's Board of Trustees or any committee thereof. The Chase Manhattan Bank shall be entitled to rely upon any Proper Instructions actually received by The Chase Manhattan Bank pursuant to this Agreement. The Fund agrees that The Chase Manhattan Bank shall incur no liability in acting in good faith upon Proper Instructions given to The Chase Manhattan Bank, except to the extent such liability was incurred as a result of The Chase Manhattan Bank's negligence or willful misconduct. In accord with instructions from the Fund, as 12 required by accepted industry practice or as The Chase Manhattan Bank may elect in effecting the execution of Fund instructions, advances of cash or other Property made by The Chase Manhattan Bank, arising from the purchase, sale, redemption, transfer or other disposition of Property of the Fund, or in connection with the disbursement of funds to any party, or in payment of fees, expenses, claims or liabilities owed to The Chase Manhattan Bank by the Fund, or to any other party which has secured judgment in a court of law against the Fund which creates an overdraft in the accounts or over-delivery of Property, shall be deemed a loan by The Chase Manhattan Bank to the Fund, payable on demand, bearing interest at such rate customarily charged by The Chase Manhattan Bank for similar loans. (b) The Fund agrees that test arrangements, authentication methods or other security devices to be used with respect to instructions which the Fund may give by telephone, telex, TWX, facsimile transmission, bank wire or other teleprocess, or through an electronic instruction system, shall be processed in accordance with terms and conditions for the use of such arrangements, methods or devices as The Chase Manhattan Bank may put into effect and modify from time to time. The Fund shall safeguard any test keys, identification codes or other security devices which The Chase Manhattan Bank makes available to the Fund and agrees that the Fund shall be responsible for any loss, liability or damage incurred by The Chase Manhattan Bank or by the Fund as a result of The Chase Manhattan Bank's acting in accordance with instructions from any unauthorized person using the proper security device except to the extent such loss, liability or damage was incurred as a result of The Chase Manhattan Bank's negligence or willful misconduct. The Chase Manhattan Bank may electronically record, but shall not be obligated to so record, any instructions given by telephone and any other telephone discussions with respect to the Fund. In the event that the Fund uses The Chase Manhattan Bank's Asset Management system or any successor electronic 13 communications or information system, the Fund agrees that The Chase Manhattan Bank is not responsible for the consequences of the failure of that system to perform for any reason, beyond the reasonable control of The Chase Manhattan Bank, or the failure of any communications carrier, utility, or communications network. In the event that system is inoperable, the Fund agrees that it will accept the communication of transaction instructions by telephone, facsimile transmission on equipment compatible to The Chase Manhattan Bank's facsimile receiving equipment or by letter, at no additional charge to the Fund. (c) The Chase Manhattan Bank shall transmit promptly to the Fund all written information (including, without limitation, pendency of calls and maturities of securities and expirations of rights in connection therewith and notices of exercise of call and put options written by the Fund and the maturity of futures contracts purchased or sold by the Fund) received by The Chase Manhattan Bank from issuers of the securities being held for the Fund. With respect to tender or exchange offers, The Chase Manhattan Bank shall transmit promptly by facsimile to the Fund all written information received by The Chase Manhattan Bank from issuers of the securities whose tender or exchange is sought and from the party (or his agents) making the tender or exchange offer. If the Fund desires to take action with respect to any tender offer, exchange offer or any other similar transaction, the Fund shall notify The Chase Manhattan Bank at least three business days prior to the date on which The Chase Manhattan Bank is to take such action or upon the date such notification is first received by the Fund, if later. If any Property registered in the name of a nominee of The Chase Manhattan Bank is called for partial redemption by the issuer of such property, The Chase Manhattan Bank is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by The Chase Manhattan Bank in its sole discretion.

Instructions Consistent With The Declaration, etc. (a) Unless otherwise provided in this Agreement, The Chase Manhattan Bank shall act only upon Proper Instructions. The Chase Manhattan Bank may assume that any Proper Instructions received hereunder are not in any way inconsistent with any provision of the Declaration or By-Laws or any vote or resolution of the Fund's Board of Trustees or any committee thereof. The Chase Manhattan Bank shall be entitled to rely upon any Proper Instructions actually received by The Chase Manhattan Bank pursuant to this Agreement. The Fund agrees that The Chase Manhattan Bank shall incur no liability in acting in good faith upon Proper Instructions given to The Chase Manhattan Bank, except to the extent such liability was incurred as a result of The Chase Manhattan Bank's negligence or willful misconduct. In accord with instructions from the Fund, as 12 required by accepted industry practice or as The Chase Manhattan Bank may elect in effecting the execution of Fund instructions, advances of cash or other Property made by The Chase Manhattan Bank, arising from the purchase, sale, redemption, transfer or other disposition of Property of the Fund, or in connection with the disbursement of funds to any party, or in payment of fees, expenses, claims or liabilities owed owned to The Chase Manhattan Bank by the Fund, or to any other party which has secured judgment in a court of law against the Fund which creates an overdraft in the accounts or over-delivery of Property, shall be deemed a loan by The Chase Manhattan Bank to the Fund, payable on demand, bearing interest at such rate customarily charged by The Chase Manhattan Bank for similar loans. (b) The Fund agrees that test arrangements, authentication methods or other security devices to be used with respect to instructions which the Fund may give by telephone, telex, TWX, facsimile transmission, bank wire or other teleprocess, or through an electronic instruction system, shall be processed in accordance with terms and conditions for the use of such arrangements, methods or devices as The Chase Manhattan Bank may put into effect and modify from time to time. The Fund shall safeguard any test keys, identification codes or other security devices which The Chase Manhattan Bank makes available to the Fund and agrees that the Fund shall be responsible for any loss, liability or damage incurred by The Chase Manhattan Bank or by the Fund as a result of The Chase Manhattan Bank's acting in accordance with instructions from any unauthorized person using the proper security device except to the extent such loss, liability or damage was incurred as a result of The Chase Manhattan Bank's negligence or willful misconduct. The Chase Manhattan Bank may electronically record, but shall not be obligated to so record, any instructions given by telephone and any other telephone discussions with respect to the Fund. In the event that the Fund uses The Chase Manhattan Bank's Asset Management system or any successor electronic 13 communications or information system, the Fund agrees that The Chase Manhattan Bank is not responsible for the consequences of the failure of that system to perform for any reason, beyond the reasonable control of The Chase Manhattan Bank, or the failure of any communications carrier, utility, or communications network. In the event that system is inoperable, the Fund agrees that it will accept the communication of transaction instructions by telephone, facsimile transmission on equipment compatible to The Chase Manhattan Bank's facsimile receiving equipment or by letter, at no additional charge to the Fund. (c) The Chase Manhattan Bank shall transmit promptly to the Fund all written information (including, without limitation, pendency of calls and maturities of securities and expirations of rights in connection therewith and notices of exercise of call and put options written by the Fund and the maturity of futures contracts purchased or sold by the Fund) received by The Chase Manhattan Bank from issuers of the securities being held for the Fund. With respect to tender or exchange offers, The Chase Manhattan Bank shall transmit promptly by facsimile to the Fund all written information received by The Chase Manhattan Bank from issuers of the securities whose tender or exchange is sought and from the party (or his agents) making the tender or exchange offer. If the Fund desires to take action with respect to any tender offer, exchange offer or any other similar transaction, the Fund shall notify The Chase Manhattan Bank at least three business days prior to the date on which The Chase Manhattan Bank is to take such action or upon the date such notification is first received by the Fund, if later. If any Property registered in the name of a nominee of The Chase Manhattan Bank is called for partial redemption by the issuer of such property, The Chase Manhattan Bank is authorized to allot the called portion to the respective beneficial holders of the Property in such manner deemed to be fair and equitable by The Chase Manhattan Bank in its sole discretion.