Common use of CUSTODY AND RELATED SERVICES Clause in Contracts

CUSTODY AND RELATED SERVICES. 1. (a) Subject to the terms hereof, the Trust, on behalf of each Customer, hereby authorizes Custodian to hold any Securities received by it from time-to-time for the applicable Customer’s account. Custodian shall be entitled to utilize Depositories and Subcustodians to the extent possible in connection with its performance hereunder. Securities and cash deposited by Custodian in a Depository will be held subject to the rules, terms and conditions of such Depository. Securities and cash held through Subcustodians shall be held subject to the terms and conditions of Custodian’s agreements with such Subcustodians. Subcustodians may be authorized to hold Securities in central securities depositories or clearing agencies in which such Subcustodians participate. Unless otherwise required by local law or practice or a particular subcustodian agreement, Securities deposited with Subcustodians will be held in a commingled account in the name of Custodian as custodian or trustee for its customers. Custodian shall identify on its books and records the Securities and cash belonging to each Customer, whether held directly or indirectly through Depositories or Subcustodians, and shall maintain separate and distinct books and records for each Customer.

CUSTODY AND RELATED SERVICES. 1. (a) Subject to the terms hereof, the Trust, on behalf of each Customer, hereby authorizes Custodian to hold any Securities received by it from time-to-time to time for the applicable Customer’s 's account. Custodian shall be entitled to utilize Depositories and Subcustodians to the extent possible in connection with its performance hereunder. Securities and cash deposited by Custodian in a Depository will be held subject to the rules, terms and conditions of such Depository. Securities and cash held through Subcustodians shall be held subject to the terms and conditions of Custodian’s 's agreements with such Subcustodians. Subcustodians may be authorized to hold Securities in central securities depositories or clearing agencies in which such Subcustodians participate. Unless otherwise required by local law or practice or a particular subcustodian agreement, Securities deposited with Subcustodians will be held in a commingled account in the name of Custodian as custodian or trustee for its customers. Custodian shall identify on its books and records the Securities and cash belonging to each Customer, whether held directly or indirectly through Depositories or Subcustodians, and shall maintain separate and distinct books and records for each Customer.

CUSTODY AND RELATED SERVICES. 1. (a) Subject to the terms hereof, the Trust, on behalf of each Customer, Trust hereby authorizes Custodian to hold any Securities received by it from time-to-time to time for the applicable CustomerTrust’s account. Custodian shall be entitled to utilize Depositories and Subcustodians utilize, subject to subsection (c) of this Section 1, Depositories, Subcustodians, and, subject to subsection (d) of this Section 1, Foreign Depositories, to the extent possible in connection with its performance hereunder. Securities and cash deposited by Custodian held in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such Depositoryentity. Securities and cash held through Subcustodians shall be held subject to the terms and conditions of Custodian’s agreements with such Subcustodians. Subcustodians may be authorized to hold Securities in central securities depositories or clearing agencies Foreign Depositories in which such Subcustodians participate. Unless otherwise required by local law or practice or a particular subcustodian agreement, Securities deposited with Subcustodians a Subcustodian, a Depositary or a Foreign Depository will be held in a commingled account account, in the name of Custodian, holding only Securities held by Custodian as custodian or trustee for its customers. Custodian shall identify on its books and records the Securities and cash belonging to each Customer, whether held directly or indirectly through Depositories or Subcustodians, and shall maintain separate and distinct books and records for each Customer.