Receipt and Disbursement of Money. (a) U.S. Trust shall open and maintain a custody account for the Fund, subject only to draft or order by U.S. Trust acting pursuant to the terms of this Agreement, and shall hold in such account, subject to the provisions hereof, all cash received by it from or for the Fund other than cash maintained by the Fund in a bank account established and used in accordance with Rule 17f-3 under the 1940 Act. Funds held by U.S. Trust for the Fund may be deposited by it to its credit at U.S. Trust in the Banking Department of U.S. Trust or in such other banks or trust companies as it may in its discretion deem necessary or desirable; provided, however, that every such bank or trust company shall be qualified to act as a custodian under the 1940 Act, and that each such bank or trust company shall be approved by vote of a majority of the Board of Directors of the Fund. Such funds shall be deposited by U.S. Trust in its capacity as Custodian and shall be withdrawable by U.S. Trust only in that capacity.
Appears in 27 contracts
Samples: Exchange Traded Fund Custody Agreement (Nuveen New York Performance Plus Municipal Fund Inc), Exchange Traded Fund Custody Agreement (Nuveen Municipal Market Opportunity Fund Inc), Agreement (Nuveen California Municipal Market Opportunity Fund Inc)
Receipt and Disbursement of Money. (a) U.S. Trust shall open and maintain a custody account for the Fund, subject only to draft or order by U.S. Trust acting pursuant to the terms of this Agreement, and shall hold in such account, subject to the provisions hereof, all cash received by it from or for the Fund other than cash maintained by the Fund in a bank account established and used in accordance with Rule 17f-3 under the 1940 Act. Funds held by U.S. Trust for the Fund may be deposited by it to its credit at U.S. Trust in the Banking Department of U.S. Trust or in such other banks or trust companies as it may in its discretion deem necessary or desirable; provided, however, that every such bank or trust company shall be qualified to act as a custodian under the 1940 Act, and that each such bank or trust company shall be approved by vote of a majority of the Board of Directors Trustees of the Fund. Such funds shall be deposited by U.S. Trust in its capacity as Custodian and shall be withdrawable by U.S. Trust only in that capacity.
Appears in 3 contracts
Samples: Exchange Traded Custody Agreement (Nuveen Florida Quality Income Municipal Fund Inc), Agreement (Nuveen Florida Investment Quality Municipal Fund Inc), Mutual Fund Custody Agreement (Nuveen Pennsylvania Investment Quality Municipal Fund Inc)
