Common use of Holding Securities Clause in Contracts

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (b) of this Section 2.1, Depositories, subject to subsection (c) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians shall be held subject to the terms and conditions of the Custodian’s agreements with such Foreign Custodians. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participate. Unless otherwise required by local law or practice or a particular Foreign Custodian agreement, Securities deposited with Foreign Custodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign Custodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign Custodians, Depositories, or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, or where such Securities are acquired.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bc) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (cd) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians Subcustodians shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodians. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians Subcustodians participate. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (the “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder. Notwithstanding any other provisions hereof, with respect to any Losses incurred by the Fund as a result of the acts or the failure to act by any Subcustodian (other than a BNY Mellon Affiliate), the Custodian shall take appropriate action to recover such Losses from such Subcustodian. The Custodian shall be liable to the Fund, or any Series, for any Losses caused by or resulting from the acts or omissions of any Subcustodian to the extent such acts or omissions would be deemed a failure of such Subcustodian to fulfill its obligations under the Subcustody Agreement with Custodian in accordance with its standards of care and in accordance with prevailing laws, rules, practices and procedures in the relevant market.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the each Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. The Custodian shall be responsible for the safekeeping of the Securities and cash received by it from time to time for a Fund’s account on the terms set forth herein and shall not release or otherwise transfer such Securities or cash except as contemplated herein or in accordance with a Fund’s instructions. Securities held for the a Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Fundsapplicable Series, provided that to the extent reasonably possible in accordance with industry standards it is made apparent that the relevant Securities or other assets deposited therein do not belong to the Custodian or the Subcustodian. The Custodian shall identify on its books and records the Securities and cash belonging to the a Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the applicable Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to shall hold any Securities in registered form in the Fund’s name where applicable, in the Custodian’s or a nominee’s name of the Custodian or one of its nomineesCustodian. Securities and cash held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own propertyproperty and the property of any other client, and no such clients shall have access to the property of the Fund. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.12.2, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.12.2, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. The Custodian shall provide the Fund with at least 15 Business Days’ advance written notice of its intent to change the Subcustodian in a particular market. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund Trust hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bc) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (cd) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians Subcustodians shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodians. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians Subcustodians participate. Unless otherwise required by local law or practice or a particular agreement with a Subcustodian, Depository or Foreign Custodian agreementDepository, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the each Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (the “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Custodian, as the Fund’s foreign custody manager, has determined that utilization of such Replacement Subcustodian satisfies the requirements of the 1940 Act and Rule 17f-5 thereunder. Notwithstanding any other provisions hereof, with respect to any Losses incurred by the Fund as a result of the acts or the failure to act by any Subcustodian (other than a BNY Mellon Affiliate), the Custodian shall take all reasonable and appropriate action to recover such Losses from such Subcustodian. With respect to any Losses incurred by the Fund as the result of the acts or the failure to act by any Subcustodian which is a BNY Mellon Affiliate, the Custodian shall be fully responsible as provided hereunder as if it had performed the acts or failure to act itself. With respect to any Losses incurred by the Fund as the result of the acts or the failure to act by any Subcustodian which is not a BNY Mellon Affiliate, the Custodian shall be fully responsible as provided hereunder as if it had performed the acts or failure to act itself except to the extent any such Losses (1) are due to the fraud of such Subcustodian and the Custodian exercised reasonable care in the selection or retention of such Subcustodian or (2) are due to the insolvency of such Subcustodian and the Custodian, exercising reasonable care, could not have been able to anticipate the occurrence of such insolvency.

Holding Securities. (a) Subject to the terms hereofhereof and any related service level agreement currently in effect between the parties, the each Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nomineesnominees for the benefit of the Fund on behalf of its Series. Securities held for the Fund a Series hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians and Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Fundsa Series. The Custodian shall identify on its books and records the Securities and cash belonging to the Funda Series, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder. Except as precluded by Section 8-501(d) of the Uniform Commercial Code (“UCC”), the Custodian shall hold all securities and other financial assets, other than cash, of a Series that are delivered to it in a “securities account” with the Custodian for and in the name of such Series and except as precluded by Section 8-501(d) of the UCC shall treat all such assets other than cash (except as provided in Section 2.3 above) as “financial assets” as those terms are used in the UCC.

Holding Securities. (a) Subject to the terms hereof, the Fund Trust hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the each Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the each Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Trust’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bc) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (cd) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians Subcustodians shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodians. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians Subcustodians participate. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (the “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder. Notwithstanding any other provisions hereof, with respect to any Losses incurred by the Client as a result of the acts or the failure to act by any Subcustodian (other than a BNY Mellon Affiliate), the Custodian shall take appropriate action to recover such Losses from such Subcustodian, and the Custodian’s sole responsibility and liability to the Client shall be limited to amounts so received from such Subcustodian (exclusive of costs and expenses incurred by the Custodian). The Custodian’s responsibility for Losses with respect to Securities or cash held by a Subcustodian is limited to the failure on the part of the Custodian to exercise reasonable care in selecting and retaining such Subcustodian in light of prevailing rules, practices and procedures in the relevant market.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities and cash held for the Fund hereunder shall be segregated on the Custodian’s 's books and records from the Custodian’s 's own propertyproperty and the property of any other client. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, the Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s 's or a BNY Mellon Affiliate's agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the FundsFund. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a "Replacement Subcustodian"). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund's board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the '40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to shall hold any Securities in registered form in the Fund’s name or a nominee name of the Custodian, in which neither the Custodian or one nor any of its nomineesaffiliates has any beneficial interest. Securities and cash held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own propertyproperty and the property of any other client, and no such clients shall have access to the property of the Fund. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.12.2, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.12.2, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. The Custodian shall provide the Fund with at least 15 Business Days’ advance written notice of its intent to change the Subcustodian in a particular market. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nomineesnominees for the benefit of the Fund. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereofhereof and any related service level agreement currently in effect between the parties, the each Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nomineesnominees for the benefit of the Fund on behalf of its Series. Securities held for the Fund a Series hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians and Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. 1 Transport Layer Security (or TLS) is a cryptographic protocol that provides secure (encrypted) communication for e-mail exchanged over the Internet between two organizations. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Fundsa Series. The Custodian shall identify on its books and records the Securities and cash belonging to the Funda Series, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder. Except as precluded by Section 8-501(d) of the Uniform Commercial Code (“UCC”), the Custodian shall hold all securities and other financial assets, other than cash, of a Series that are delivered to it in a “securities account” with the Custodian for and in the name of such Series and except as precluded by Section 8-501(d) of the UCC shall treat all such assets other than cash (except as provided in Section 2.3 above) as “financial assets” as those terms are used in the UCC.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s 's books and records from the Custodian’s 's own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s 's or a BNY Mellon Affiliate's agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entityentity and applicable law. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a "Replacement Subcustodian"). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund's board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the '40 Act and Rule 17f-5 thereunder, if such determination is required by applicable law.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bc) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (cd) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians Subcustodians shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodians. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians Subcustodians participate. Unless otherwise required by local law or practice or a particular Foreign Custodian agreementagreement with a Subcustodian, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the FundsFund. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). Notwithstanding any other provisions hereof, with respect to any Losses incurred by the Fund as a result of the acts or the failure to act by any Subcustodian (other than a BNY Mellon Affiliate), the Custodian shall take all reasonable and appropriate action to recover such Losses from such Subcustodian. With respect to any Losses incurred by the Fund as the result of the acts or the failure to act by any Subcustodian which is a BNY Mellon Affiliate, the Custodian shall be fully responsible as provided hereunder as if it had performed the acts or failure to act itself. With respect to any Losses incurred by the Fund as the result of the acts or the failure to act by any Subcustodian which is not a BNY Mellon Affiliate, the Custodian shall be fully responsible as provided hereunder as if it had performed the acts or failure to act itself except to the extent any such Losses (1) are due to the fraud of such Subcustodian and the Custodian exercised reasonable care in the selection or retention of such Subcustodian or (2) are due to the insolvency of such Subcustodian and the Custodian, exercising reasonable care, could not have been able to anticipate the occurrence of such insolvency.

Holding Securities. (a) Subject Notwithstanding that Accounts shall be in the name of the Fund, subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nomineesnominees as may be applicable. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund Client hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees, or where applicable, in the name of the Client. Securities held for the Fund Client hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (b) of this Section 2.12.2, DepositoriesSubcustodians and, subject to subsection (c) of this Section 2.12.3, Depositories and Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or a Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories Depositories, or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Fundsits clients. The Custodian shall identify on its books and records the Securities and cash belonging to the FundClient, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Client’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ’40 Act and Rule 17f-5 thereunder to the extent applicable.

Holding Securities. (a) Subject to the terms hereof, the Fund Customer hereby authorizes the Custodian to hold any Securities received by it from time to time for the Customer’s account in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund Customer hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the FundsCustomer. The Custodian shall identify on its books and records the Securities and cash belonging to the FundCustomer, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Customer’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund certifies that the Parent Fund’s board or the Parent Fund’s foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nomineesnominees or, where applicable, in the name of the Fund. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ’40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian in a manner not inconsistent with this Agreement. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has been provided by the Custodian with information reasonably necessary to determine such Replacement Subcustodian eligibility under Rule 17f-5 under the ‘40 Act, including a copy of the proposed agreement with such Replacement Subcustodian and has determined that utilization of such Replacement Subcustodian satisfies the requirements of Rule 17f-5 under the ‘40 Act.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund a Series hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Fundsa Series. The Custodian shall identify on its books and records the Securities and cash belonging to the Funda Series, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund Trust hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bc) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (cd) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians Subcustodians shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodians. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians Subcustodians participate. Unless otherwise required by local law or practice or a particular -agreement with a Subcustodian, Depository or Foreign Custodian agreementDepository, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the FundsFund. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (the “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Custodian, as the Fund’s foreign custody manager, has determined that utilization of such Replacement Subcustodian satisfies the requirements of the 1940 Act and Rule 17f-5 thereunder. Notwithstanding any other provisions hereof, with respect to any Losses incurred by the Fund as a result of the acts or the failure to act by any Subcustodian (other than a BNY Mellon Affiliate) , the Custodian shall take all reasonable and appropriate action to recover such Losses from such Subcustodian. With respect to any Losses incurred by the Fund as the result of the acts or the failure to act by any Subcustodian which is a BNY Mellon Affiliate, the Custodian shall be fully responsible as provided hereunder as if it had performed the acts or failure to act itself. With respect to any Losses incurred by the Fund as the result of the acts or the failure to act by any Subcustodian which is not a BNY Mellon Affiliate, the Custodian shall be fully responsible as provided hereunder as if it had performed the acts or failure to act itself except to the extent any such Losses (1) are due to the fraud of such Subcustodian and the Custodian exercised reasonable care in the selection or retention of such Subcustodian or (2) are due to the insolvency of such Subcustodian and the Custodian, exercising reasonable care, could not have been able to anticipate the occurrence of such insolvency.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s 's own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.12.1 Subcustodians, Depositories, and subject to subsection (c) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian's or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian Subcustodian agreement, . Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nomineesnominees or, where applicable, in the name of the Fund. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s 's books and records from the Custodian’s 's own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s 's or a BNY Mellon Affiliate's agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a "Replacement Subcustodian"). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund's board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the '40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the FundsFund. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian in a manner not inconsistent with this Agreement. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Funds. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has been provided by the Custodian with information reasonably necessary to determine such Replacement Subcustodian eligibility under Rule 17f-5 under the ’40 Act, including a copy of the proposed agreement with such Replacement Subcustodian and has determined that utilization of such Replacement Subcustodian satisfies the requirements of Rule 17f-5 under the ’40 Act.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection subsections (bc) and (d) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the FundsFund. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the FundsFund. The Custodian shall identify on its books and records the Securities and cash belonging to the Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories, as being held for the benefit of the Fund. Subcustodians shall be required to identify such Securities on their books and records as being held for the account of the Custodian separate from other property of the Subcustodian and solely for the benefit of customers of the Custodian. Custodian will not commingle on its books and records the Fund's Securities with the Securities of other customers or with the proprietary assets of Custodian. Except as provided in Section 5, Custodian shall have no legal or beneficial interest in the Fund's cash, Securities or any other property held any Account. Notwithstanding anything to the contrary herein, absent prior written consent from the Fund, in no case shall Custodian pledge, repledge, hypothecate, rehypothecate, sell, lend or otherwise transfer or use any of the Securities. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.

Holding Securities. (a) Subject to the terms hereof, the Fund Client hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. Securities held for the Fund Client hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (b) of this Section 2.1, Depositories, subject to subsection (c) of this Section 2.1, Foreign utilize Subcustodians and Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians Subcustodians shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodians. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entityDepository. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians Subcustodians participate. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign Custodians, Depositories or Foreign Depositories Subcustodians will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Fundsits clients. The Custodian shall identify on its books and records the Securities and cash belonging to the FundClient, whether held directly or indirectly through Foreign Custodians, Depositories or Foreign DepositoriesSubcustodians. The In no event shall the Custodian shallbe liable for any Losses arising out of holding of Securities or cash in any particular country, directly or indirectly through Foreign Custodiansincluding but not limited to, DepositoriesLosses resulting from nationalization, or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country expropriation or other jurisdiction in governmental actions; regulation of the banking or securities industry; exchange or currency controls or restrictions, devaluations or fluctuations or currency redenomination; availability of Securities or cash or market conditions which prevent the principal trading market for such transfer of property or the execution of Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, transactions or where such Securities are acquiredaffect the value of property (“Country Risk Events”).

Holding Securities. (a) Subject to the terms hereof, the each Fund hereby authorizes the Custodian to hold any Securities in registered form in the name of the Custodian or one of its nominees. The Custodian shall be responsible for the safekeeping of the Securities and cash received by it from time to time for a Fund’s account on the terms set forth herein and shall not release or otherwise transfer such Securities or cash except as contemplated herein or in accordance with a Fund’s instructions. Securities held for the a Fund hereunder shall be segregated on the Custodian’s books and records from the Custodian’s own property. The Custodian shall be entitled to utilize, subject to subsection (bd) of this Section 2.1, Subcustodians, Depositories, and subject to subsection (ce) of this Section 2.1, Foreign Depositories and subject to Section 2.6, Foreign Custodians, in connection with its performance hereunder. Securities and cash held through Foreign Custodians a Subcustodian shall be held subject to the terms and conditions of the Custodian’s or a BNY Mellon Affiliate’s agreements with such Foreign CustodiansSubcustodian. Securities and cash deposited by the Custodian in a Depository or Foreign Depository will be held subject to the rules, terms and conditions of such entity. Foreign Custodians Subcustodians may be authorized to hold Securities in Depositories or Foreign Depositories in which such Foreign Custodians participateSubcustodian participates. Unless otherwise required by local law or practice or a particular Foreign Custodian subcustodian agreement, Securities deposited with Foreign CustodiansSubcustodians, Depositories or Foreign Depositories will be held in a commingled account in the name of the Custodian or a BNY Mellon Affiliate for the Fundsapplicable Series, provided that to the extent reasonably possible in accordance with industry standards it is made apparent that the relevant Securities or other assets deposited therein do not belong to the Custodian or the Subcustodian. The Custodian shall identify on its books and records the Securities and cash Table of Contents belonging to the a Fund, whether held directly or indirectly through Foreign CustodiansSubcustodians, Depositories or Foreign Depositories. The Custodian shall, directly or indirectly through Foreign CustodiansSubcustodians, Depositories, Depositories or Foreign Depositories, endeavor, to the extent feasible, to hold Securities in the country or other jurisdiction in which the principal trading market for such Securities is located, where such Securities are to be presented for cancellation and/or payment and/or registration, registration or where such Securities are acquired. The Custodian at any time may cease utilizing any Subcustodian and/or may replace a Subcustodian with a different Subcustodian (a “Replacement Subcustodian”). In the event the Custodian selects a Replacement Subcustodian, the Custodian shall not utilize such Replacement Subcustodian until after the applicable Fund’s board or foreign custody manager has determined that utilization of such Replacement Subcustodian satisfies the requirements of the ‘40 Act and Rule 17f-5 thereunder.