Common use of Receipt and Disbursement of Money Clause in Contracts

Receipt and Disbursement of Money. a. Wachovia shall open and maintain a custody account for the Fund (the “Account”) subject only to draft or order by Wachovia acting pursuant to the terms of this Agreement, and shall hold in the Account, subject to the provisions in this Paragraph 6, all cash it receives by or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 Act. Wachovia shall make payments of cash to, or for the account of, the Fund only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except as provided in Paragraph 10; (ii) in the case of a purchase of Securities effected through a Depository, in accordance with the conditions set forth in Paragraph 16; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal), or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“NASD”), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s purchase of Securities from Wachovia along with written evidence of Wachovia’s agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptions, or for the payment of interest, taxes, administration, distribution or advisory fees or expenses which the Fund is to bear under the terms of this Agreement, any Advisory Agreement, or any distribution or administration agreement; (vi) for payments in connection with the conversion, exchange or surrender of Securities the Fund owns or subscribes to and Wachovia holds on behalf of the Fund or is to deliver ; (vii) to a subcustodian or a depository pursuant to the terms hereof; (viii) for expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition to Proper Instructions, a certified copy of a resolution of the Board or of the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretary, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be made.

Receipt and Disbursement of Money. a. Wachovia shall open and maintain a custody account for the Fund (the “"Account”") subject only to draft or order by Wachovia acting pursuant to the terms of this Agreement, and shall hold in the Account, subject to the provisions in this Paragraph 6, all cash it receives by or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 Act. Wachovia shall make payments of cash to, or for the account of, the Fund from cash only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except as provided in Paragraph 10; (ii) in the case of a purchase of Securities effected through a Book-Entry System or Securities Depository, in accordance with the conditions set forth in Paragraph 1618; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal)Wachovia, or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“"NASD”"), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s 's account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s 's purchase of Securities from Wachovia owns along with written evidence of Wachovia’s 's agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptions, or for the payment of interest, taxes, administration, distribution or advisory fees or expenses which the Fund is to bear under the terms of this Agreement, any Advisory Agreement, or any distribution or administration agreement; (vi) for payments in connection with the conversion, exchange or surrender of Securities the Fund owns or subscribes to and Wachovia holds on behalf of the Fund or is to deliver ; (vii) to a subcustodian or a depository pursuant to the terms hereofParagraph 7; (viii) for common expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ ' fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition to Proper Instructions, a certified copy of a resolution of the Board or of the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretary, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be made.

Receipt and Disbursement of Money. a. Wachovia shall open and maintain a custody account for the Fund (the “"Account”") subject only to draft or order by Wachovia acting pursuant to the terms of this Agreement, and shall hold in the Account, subject to the provisions in this Paragraph 6, all cash it receives by or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 Act. Wachovia shall make payments of cash to, or for the account of, the Fund only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except as provided in Paragraph 10; (ii) in the case of a purchase of Securities effected through a Depository, in accordance with the conditions set forth in Paragraph 16; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal), or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“"NASD”"), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s 's account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s 's customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s 's purchase of Securities from Wachovia along with written evidence of Wachovia’s 's agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptions, or for the payment of interest, taxes, administration, distribution or advisory fees or expenses which the Fund is to bear under the terms of this Agreement, any Advisory Agreement, or any distribution or administration agreement; (vi) for payments in connection with the conversion, exchange or surrender of Securities the Fund owns or subscribes to and Wachovia holds on behalf of the Fund or is to deliver ; (vii) to a subcustodian or a depository pursuant to the terms hereof; (viii) for expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ ' fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition to Proper Instructions, a certified copy of a resolution of the Board or of the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretary, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be made.

Receipt and Disbursement of Money. a. Wachovia First Union shall open and maintain a custody account for the Fund (the “"Account”") subject only to draft or order by Wachovia First Union acting pursuant to the terms of this Agreement, and shall hold in the Account, subject to the provisions in this Paragraph 6, all cash it receives by or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 ActInvestment Company Act of 1940, as amended. Wachovia First Union shall make payments of cash to, or for the account of, the Fund from cash only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except as provided in Paragraph 10Securities; (ii) in the case of a purchase of Securities effected through a Book-Entry System or Securities Depository, in accordance with the conditions set forth in Paragraph 1614; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal)First Union, or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“"NASD”"), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s First Union's account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s 's purchase of Securities from Wachovia First Union owns along with written evidence of Wachovia’s First Union's agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptions, or for the payment of interest, taxes, administration, distribution or advisory fees or expenses which the Fund is to bear under the terms of this Agreement, any Advisory Agreement, or any distribution or administration agreement; (vi) for payments in connection with the conversion, exchange or surrender of Securities the Fund owns or subscribes to and Wachovia First Union holds on behalf of the Fund or is to deliver ; (vii) to a subcustodian or a depository pursuant to the terms hereofParagraph 7; (viii) for common expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ ' fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition to Proper Instructions, a certified copy of a resolution of the Board of Directors or Trustees or of the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretary, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be made.

Receipt and Disbursement of Money. a. Wachovia (a) PNC Bank shall open and --------------------------------- maintain a custody separate custodial account for or accounts in the Fund (name of the “Account”) Company, subject only to draft or order by Wachovia PNC Bank acting pursuant to the terms of this Agreement, and shall hold in the Accountsuch account or accounts, subject to the provisions in this Paragraph 6hereof, all cash received by it receives by from or for the Fund, other than cash account of the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 ActCompany. Wachovia PNC Bank shall make payments of cash to, or for the account of, the Fund Company from such cash only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except securities for the Company's portfolio as provided in Paragraph 1013 hereof; (ii) in the case of a purchase of Securities effected through a Depository, in accordance with the conditions set forth in Paragraph 16; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal), or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“NASD”), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s purchase of Securities from Wachovia along with written evidence of Wachovia’s agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before upon receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the FundWritten Instructions, for payment to the transfer agent to fund share redemptions, or for the payment of interest, dividends, taxes, administration, distribution accounting, advisory or advisory management fees or expenses which are to be borne by the Fund is to bear Company under the terms of this Agreement, any the Advisory Agreement, or any distribution or administration agreementthe Administration Agreement and the Transfer Agency Agreement, as well as fees borne by the Company under its agreements with institutional investors with respect to the provision of support services to their customers who beneficially own from time to time Shares of a Fund which has entered into such agreements; (viiii) upon receipt of Written Instructions, for payments in connection with the conversion, exchange or surrender of Securities securities owned or subscribed to by the Fund owns Company and held by or subscribes to and Wachovia holds on behalf be delivered to PNC Bank; (iv) to a sub-custodian pursuant to Paragraph 6 hereof; (v) for the redemption of Company Shares; (vi) for payment of the Fund or is to deliver amount of dividends received in respect of securities sold short; (vii) for payment against receipt of securities loaned pursuant to a subcustodian specified agreement for loaning the Company's securities; or a depository pursuant to the terms hereof; (viii) upon receipt of Written Instructions, for expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition Company purposes. No payment pursuant to Proper Instructions, (i) above shall be made unless PNC Bank has received a certified copy of a resolution of the Board broker's or of dealer's confirmation or the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretarypayee's invoice, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be madeas appropriate.

Receipt and Disbursement of Money. a. Wachovia First Union shall open and maintain a custody account for the Fund (the “"Account”") subject only to draft or order by Wachovia First Union acting pursuant to the terms of this Agreement, and shall hold in the Account, subject to the provisions in this Paragraph 6, all cash it receives by or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 Act. Wachovia First Union shall make payments of cash to, or for the account of, the Fund from cash only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except as provided in Paragraph 10; (ii) in the case of a purchase of Securities effected through a Book-Entry System or Securities Depository, in accordance with the conditions set forth in Paragraph 1618; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal)First Union, or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“"NASD”"), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s First Union's account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s 's purchase of Securities from Wachovia First Union owns along with written evidence of Wachovia’s First Union's agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptions, or for the payment of interest, taxes, administration, distribution or advisory fees or expenses which the Fund is to bear under the terms of this Agreement, any Advisory Agreement, or any distribution or administration agreement; (vi) for payments in connection with the conversion, exchange or surrender of Securities the Fund owns or subscribes to and Wachovia First Union holds on behalf of the Fund or is to deliver ; (vii) to a subcustodian or a depository pursuant to the terms hereofParagraph 7; (viii) for common expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ ' fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition to Proper Instructions, a certified copy of a resolution of the Board or of the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretary, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be made.

Receipt and Disbursement of Money. a. Wachovia shall open and maintain a custody account for the Fund (the “"Account”") subject only to draft or order by Wachovia acting pursuant to the terms of this Agreement, and shall hold in the Account, subject to the provisions in this Paragraph 6, all cash it receives by or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 Act. Wachovia shall make payments of cash to, or for the account of, the Fund from cash only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except as provided in Paragraph 10; (ii) in the case of a purchase of Securities effected through a Book-Entry System or Securities Depository, in accordance with the conditions set forth in Paragraph 1618; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal)Wachovia, or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“"NASD”"), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s 's account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s 's purchase of Securities from Wachovia owns along with written evidence of Wachovia’s 's agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptions, or for the payment of interest, taxes, administration, distribution or advisory fees or expenses which the Fund is to bear under the terms of this Agreement, any Advisory Agreement, or any distribution or administration agreement; (vi) for payments in connection with the conversion, exchange or surrender of Securities the Fund owns or subscribes to and Wachovia holds on behalf of the Fund or is to deliver deliver; (vii) to a subcustodian or a depository pursuant to the terms hereofParagraph 7; (viii) for common expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ ' fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition to Proper Instructions, a certified copy of a resolution of the Board or of the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretary, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be made.

Receipt and Disbursement of Money. a. Wachovia shall open and maintain a custody account for the Fund (the “"Account”") subject only to draft or order by Wachovia acting pursuant to the terms of this Agreement, and shall hold in the Account, subject to the provisions in this Paragraph 6, all cash it receives by or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 ActInvestment Company Act of 1940, as amended. Wachovia shall make payments of cash to, or for the account of, the Fund from cash only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except as provided in Paragraph 10Securities; (ii) in the case of a purchase of Securities effected through a Book-Entry System or Securities Depository, in accordance with the conditions set forth in Paragraph 1614; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal)Wachovia, or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“"NASD”"), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s 's account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s 's purchase of Securities from Wachovia owns along with written evidence of Wachovia’s 's agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptions, or for the payment of interest, taxes, administration, distribution or advisory fees or expenses which the Fund is to bear under the terms of this Agreement, any Advisory Agreement, or any distribution or administration agreement; (vi) for payments in connection with the conversion, exchange or surrender of Securities the Fund owns or subscribes to and Wachovia holds on behalf of the Fund or is to deliver ; (vii) to a subcustodian or a depository pursuant to the terms hereofParagraph 7; (viii) for common expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ ' fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition to Proper Instructions, a certified copy of a resolution of the Board of Directors or Trustees or of the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretary, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be made.

Receipt and Disbursement of Money. a. Wachovia (a) Provident shall open and maintain a custody separate custodial account for or accounts in the Fund (the “Account”) name of each Covered Portfolio subject only to draft or order by Wachovia Provident acting pursuant to the terms of this Agreement, and shall hold in the Accountsuch account or accounts, subject to the provisions in this Paragraph 6hereof, all cash received by it receives by from or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 Actof such Portfolios. Wachovia Provident shall make payments of cash to, or for the account of, the Fund such Portfolios from such cash only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except securities as provided in Paragraph 1013 hereof; (ii) in the case of a purchase of Securities effected through a Depository, in accordance with the conditions set forth in Paragraph 16; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal), or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“NASD”), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s purchase of Securities from Wachovia along with written evidence of Wachovia’s agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before upon receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the FundWritten Instructions, for payment to the transfer agent to fund share redemptions, or for the payment of interest, dividends, distributions, taxes, administration, distribution accounting, advisory or advisory management fees or expenses which the Fund is are to bear be borne by such Portfolios under the terms of this Agreement, any the Advisory Agreements, the Administration and Accounting Services Agreement, or any distribution or administration agreementand the Transfer Agency Agreement; (viiii) upon receipt of Written Instructions, for payments in connection with the conversion, exchange or surrender of Securities securities owned or subscribed to by such Portfolios and held by or to be delivered to Provident; (iv) to a sub-custodian pursuant to Paragraph 6 hereof; (v) for the Fund owns redemption of such Portfolios’ Shares pursuant to the procedures set forth in the Fund’s prospectus dated April 1, 1989 or subscribes to and Wachovia holds on behalf Written Instructions amending such procedures; (vi) for payment of the Fund amount of dividends received in respect of securities sold short; or is to deliver ; (vii) to a subcustodian or a depository upon receipt of Written Instructions, for other Fund purposes. No payment pursuant to the terms hereof; (viiii) for expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition to Proper Instructions, above shall be made unless Provident has received a certified copy of a resolution of the Board broker’s or of dealer’s confirmation or the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretarypayee’s invoice, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purposeas appropriate, and naming the person or persons to whom the payment is to be madeas provided in Paragraph 13 hereof.

Receipt and Disbursement of Money. a. Wachovia (a) The Custodian shall open and maintain a separate custody account for or accounts in the name of each Fund of the Trust (the “each an "Account”) "), subject only to draft or order by Wachovia the Custodian acting pursuant to the terms of this Agreement, and shall credit to and hold in the Accountsuch Account or Accounts, subject to the provisions in this Paragraph 6hereof, all cash received by it receives by from or for each Fund of the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 ActTrust. Wachovia The Custodian shall make payments of cash to, or for the account Account of, each Fund of the Fund Trust from such cash only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except securities for the Trust as provided in Paragraph 1013 hereof; (ii) in the case of a purchase of Securities effected through a Depository, in accordance with the conditions set forth in Paragraph 16; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal), or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“NASD”), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s purchase of Securities from Wachovia along with written evidence of Wachovia’s agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends on or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptionsShares as set forth in subparagraph (c) below, or for the payment of any expense or liability incurred by the Fund, including but not limited to the following payments for the Account of the Fund: interest, taxes, administration, distribution or advisory fees or operating expenses which the with respect to each Fund is whether or not such expenses are to bear under the terms of this Agreement, any Advisory Agreement, be in whole or any distribution part capitalized or administration agreementtreated as deferred expenses; (viiii) for payments in connection with the conversion, exchange or surrender of Securities securities owned or subscribed to by the Fund owns Trust and held by or subscribes to and Wachovia holds on behalf be delivered to the Custodian; (iv) to a subcustodian pursuant to Paragraph 6 hereof; (v) for the redemption or repurchase of the Fund Trust Shares; (vi) when securities are called, redeemed or is to deliver retired, or otherwise become payable; (vii) to a subcustodian upon exercise of subscription, purchase or a depository pursuant to the terms hereofother similar rights represented by securities; (viii) for expenses the Fund incurs in the ordinary course spot or forward foreign exchange transactions to facilitate security trading, receipt of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ fees, exchange feesincome from securities or related transactions; or (ix) for any other proper purposecorporate purposes, but only BUT ONLY upon receipt of, in addition to Proper InstructionsWritten Instructions from the Trust on behalf of the Fund, a certified copy of a resolution of the Board of Trustees or of the Executive Committee of the Fund Trust signed by an officer of the Fund Trust and certified by its Secretary or an Assistant Secretary, specifying the amount of the such payment, setting forth the purpose for which the such payment is to be made, declaring the such purpose to be a proper purpose, and naming the person or persons to whom the such payment is to be made.

Receipt and Disbursement of Money. a. Wachovia shall open and maintain a custody account for the each Fund (the “"Account”") subject only to draft or order by Wachovia acting pursuant to the terms of this Agreement, and shall hold in the Account, subject to the provisions in this Paragraph 6, all cash it receives by or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 ActInvestment Company Act of 1940, as amended. Wachovia shall make payments of cash to, or for the account of, the a Fund only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except as provided in Paragraph 10Securities; (ii) in the case of a purchase of Securities effected through a Book-Entry System or Securities Depository, in accordance with the conditions set forth in Paragraph 1614; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal)Wachovia, or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“"NASD”"), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s 's account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s 's purchase of Securities from Wachovia owns along with written evidence of Wachovia’s 's agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptions, or for the payment of interest, taxes, administration, distribution or advisory fees or expenses which the Fund is to bear under the terms of this Agreement, any Advisory Agreement, or any distribution or administration agreement; (vi) for payments in connection with the conversion, exchange or surrender of Securities the Fund owns or subscribes to and Wachovia holds on behalf of the Fund or is to deliver deliver; (vii) to a subcustodian or a depository pursuant to the terms hereofParagraph 7; (viii) for common expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ ' fees, exchange fees; or (ix) for any other proper purpose, but only in the case of this clause (ix), upon receipt of, in addition to Proper Instructions, a certified copy of a resolution of the Board of Trustees or of the Executive Committee of the Fund Trust signed by an officer of the Fund Trust and certified by its Secretary or an Assistant Secretary, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be made.

Receipt and Disbursement of Money. a. Wachovia shall open and maintain a custody account for the Fund (the “Account”) subject only to draft or order by Wachovia acting pursuant to the terms of this Agreement, and shall hold in the Account, subject to the provisions in this Paragraph 6, all cash it receives by or for the Fund, other than cash the Fund maintains in a bank account established and used in accordance with Rule 17f-3 under the 1940 Act. Wachovia shall make payments of cash to, or for the account of, the Fund from cash only upon receipt of Proper Instructions (i) for the purchase of Securities against delivery of such Securities except as provided in Paragraph 10; (ii) in the case of a purchase of Securities effected through a Book-Entry System or Securities Depository, in accordance with the conditions set forth in Paragraph 1618; (iii) in the case of repurchase agreements entered into between the Fund and Wachovia (acting as principal)Wachovia, or another bank, or a broker-dealer which is a member of The National Association of Securities Dealers, Inc. (“NASD”), either (a) against delivery of the Securities for the account of the Fund either in certificate form or through an entry crediting Wachovia’s account at the Federal Reserve Bank (which account shall be for the sole benefit of Wachovia’s customers) with the Securities or (b) with respect to a repurchase agreement entered into with Wachovia, as principal, against delivery of the receipt evidencing the Fund’s purchase of Securities from Wachovia owns along with written evidence of Wachovia’s agreement to repurchase the Securities from the Fund, provided that such Securities are held by Wachovia so as to provide the Fund with a perfected security interest in such Securities; (iv) for transfer to a time deposit account of the Fund in any bank, whether domestic or foreign; the transfer may be effected before receipt of a confirmation from a broker and/or the applicable bank pursuant to Proper Instructions from the Fund; (v) for the payment of dividends or other distributions on shares declared pursuant to the governing documents of the Fund, for payment to the transfer agent to fund share redemptions, or for the payment of interest, taxes, administration, distribution or advisory fees or expenses which the Fund is to bear under the terms of this Agreement, any Advisory Agreement, or any distribution or administration agreement; (vi) for payments in connection with the conversion, exchange or surrender of Securities the Fund owns or subscribes to and Wachovia holds on behalf of the Fund or is to deliver deliver; (vii) to a subcustodian or a depository pursuant to the terms hereofParagraph 7; (viii) for common expenses the Fund incurs in the ordinary course of its business, including but not limited to printing and mailing expenses, legal fees, accountants’ fees, exchange fees; or (ix) for any other proper purpose, but only upon receipt of, in addition to Proper Instructions, a certified copy of a resolution of the Board or of the Executive Committee of the Fund signed by an officer of the Fund and certified by its Secretary or an Assistant Secretary, specifying the amount of the payment, setting forth the purpose for which the payment is to be made, declaring the purpose to be a proper purpose, and naming the person or persons to whom the payment is to be made.