Common use of Payment Delivery Clause in Contracts

Payment Delivery. (a) Subject to Section 2.7 (Payment of Fund Monies), the Custodian will pay for a Portfolio's securities upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Portfolio; (b) Subject to Section 2.2 (Delivery of Securities), the Custodian will transfer a Portfolio's securities upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Custodian's account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Portfolio; (c) Copies of all advices from the Securities System of transfers of a Portfolio's securities will identify the Portfolio, be maintained for the Portfolio by the Custodian and be provided to the Portfolio at its request. The Custodian will furnish daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolio.

Payment Delivery. (a) Subject to Section 2.7 (Payment of Fund Portfolio Monies), the Custodian will pay for a Portfolio's Portfolio securities upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Portfolio;. (b) Subject to Section 2.2 (Delivery of Securities), the Custodian will transfer a Portfolio's Portfolio securities upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Custodian's account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Portfolio;. (c) Copies of all advices from the Securities System of transfers of a Portfolio's Portfolio securities will identify the Portfolio, be maintained for the Portfolio by the Custodian and be provided to the Portfolio at its request. The Custodian will furnish daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Portfolio.;