Exhibit 99.7.(b)
AMENDMENT TO CUSTODY CONTRACT
Amendment dated August 2,1999, by and between State Street Bank and Trust
company (the "Custodian") and PaineWebber Cashfund, Inc. (the "Fund") to the
custody contract between the Custodian and the Fund, dated April 1, 1996, as
amended (the 1 "Custody Concract").
WHEREAS the Custodian serves as the custodian of the Fund's assets
pursuant to : the Custody Contract;
WHEREAS the Fund may appoint one or more banks identified on Schedule A to
this Amendment, as amended from time to time, to serve as additional
custodians for the `Fund (each, a "Repo Custodian") for the purpose of the
Fund's engaging in @i-party I repurchase agreement transactions (?&Party
Repos");
WHEREAS the Fund may direct the Custodian to make "free delivery" to one
or I more Repo Cusrodians of cash or other assets maintained in custody by the
Custodian for the Fund pursuant to the Custody Contract for purposes of engaging
in Tri-Party Repos; and WHEREAS the Custodian and the Fund desire to amend rhe
Custody Contract to permit the Custodian to make `%ee delivery" of cash and
other assets of the Fund to Repo Custodians from time to time;
NOW THEREFORE, the Custodian and the Fund hereby agree to amend the I
Custody Contract by adding the following provisions thereto:
1. Notwithstanding anything to the contrary in the Custody Contract, upon
receipt of Proper Instructions (as defined in the Custody Contract), the
Custodian shall deliver cash and/or other assets of the Fund to any account
maintained for the Fund by a ~ Repo Custodian, which delivery may be made
without contemporaneous receipt by the / Custodian of cash or other assets in
exchange therefor. Upon such delivery of cash or other assets in acdordance with
such Proper Instructions, the Custodian shall have no / further responsibility
or obligation to the Fund as a custodian of the Fund with respect to the cash or
assets so delivered. In preparing reports of monies received or paid out of the
Fund or of assets comprising the Fund, the Custodian shall be entitled to rely
upon I information received from time to time from the Repo Custodian and shall
not be ' responsible for the accuracy or completeness of such infomlation
included in the ' Custodian's reports until such assets are received by the
Custodian.
2. The Fund may amend Schedule A from time to time to add or delete a Repo
Custodian for the Fund by delivering Special Instructions (as defined herein) to
the Custodian. The term Special Instructions shall mean written instructions
executed by at
least two officers of the Fund holding the office of Vice President or higher.
In all other respects, the Custody Contract shall remain in full force and
effect and the Custodian and ithe Fund shall perform their respective obhgations
in accordance with the terms thereof.
THIS AMENDMENT is executed to be effective as of the date set forth
above.
PAINEWEBBER CASHFUND, INC.
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
Title: Vice President and
Assistant Secretary
STATE STREET BANK AND TRUST COMPANY
By: /s/ Xxxxxx X. Xxxxx
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Title: Xxxxxx X. Xxxxx
Vice Chairman
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SCHEDULE A
Dated: August 2. 1999
to
Amendment, dated August 2, 1999, to Custody Contract
Of April 1, 1996,
between
State Street Bank and Trust Company and
PaineWebber Cashfund, Inc.
TRI-PARTY REP0 CUSTODIAN BANKS
The Bank of New York
Chase Manhattan Bank
Authorized Signatures for Special Instructions:
By: /s/ Xxxxx X. Xxxxxx By: /s/ Xxxxxx X. X'Xxxxxxx
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Name: Xxxxx X. Xxxxxx Name: Xxxxxx X. X'Xxxxxxx
Title: Vice President and Title: Secretary and Vice
Assistant Secretary President
DATE: As Of August 2, 1999 DATE: As Of August 2, 1999
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