Common use of SUB-CUSTODIANS AND DEPOSITORIES Clause in Contracts

SUB-CUSTODIANS AND DEPOSITORIES. Notwithstanding any other provision in this Agreement to the contrary, all or any of the cash and Securities of each Series may be held in the Custodian's own custody or in the custody of one or more other banks or trust companies selected by the Custodian or as directed in one or more Written Orders from the fund. Any such sub-custodian must have the qualifications required for custodians under the Investment Company Act of 1940, as amended. The Custodian or sub-custodian, as the case may be, may participate directly or indirectly in one or more "securities depositories" (as defined in Rule 17f-4 under the Investment Company Act of 1940, as amended, or in any successor provisions or rules thereto). Any references in this Agreement to the delivery of Securities by or to the Custodian shall, with respect to Securities custodied with one of the aforementioned "securities depositories," be interpreted to mean that the Custodian shall cause a bookkeeping entry to be made by the applicable securities depository to indicate the transfer of ownership of the applicable Security to or from the Fund, all as set forth in one or more Written Orders from the Fund. Additionally, any references in this Agreement to the receipt of proceeds or payments with respect to Securities transactions shall, with respect to Securities custodied with one of the aforementioned "securities depositories," be interpreted to mean that the Custodian shall have received an advice from such securities depository that said proceeds or payments have been received by such depository and deposited in the Custodian's account.

SUB-CUSTODIANS AND DEPOSITORIES. Notwithstanding any other provision in this Agreement to the contrary, all or any of the cash and Securities of each Series may be held in the Custodian's own custody or in the custody of one or more other banks or trust companies selected by the Custodian or as directed in one or more Written Orders from the fundFund. Any such sub-custodian must have the qualifications required for custodians under the Investment Company Act of 1940, as amended. The Custodian or sub-custodian, as the case may be, may participate directly or indirectly in one or more "securities depositories" (as defined in Rule 17f-4 under the Investment Company Act of 1940, as amended, or in any successor provisions or rules thereto). Any references in this Agreement to the delivery of Securities by or to the Custodian shall, with respect to Securities custodied with one of the aforementioned "securities depositories," be interpreted to mean that the Custodian shall cause a bookkeeping entry to be made by the applicable securities depository to indicate the transfer of ownership of the applicable Security to or from the Fund, all as set forth in one or more Written Orders from the Fund. Additionally, any references in this Agreement to the receipt of proceeds or payments with respect to Securities transactions shall, with respect to Securities custodied with one of the aforementioned "securities depositories," be interpreted to mean that the Custodian shall have received an advice from such securities depository that said proceeds or payments have been received by such depository and deposited in the Custodian's account.