Common use of Integrated Account Clause in Contracts

Integrated Account. For purposes hereof, deposits maintained in all Principal Accounts (whether or not denominated in Dollars) with respect to the Fund or a Portfolio shall collectively constitute a single and indivisible current account with respect to the Fund or the Portfolio’s obligations to the Custodian or its assignee, and balances in the Principal Accounts shall be available for satisfaction of the Fund or Portfolio’s respective obligations under this Section 7. The Custodian shall further have a right of offset against the balances in any Agency Account maintained hereunder with respect to the Fund or a Portfolio to the extent that the aggregate of all Principal Accounts with respect to the Fund or Portfolio, respectively, is overdrawn.