Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian. The Custodian also may enter into arrangements for the custody of securities entrusted to its care through foreign branches of United States banks; through foreign banks, banking institutions or trust companies; through foreign subsidiaries of United States banks or bank holding companies, or through foreign securities depositories or clearing agencies (hereinafter also called, collectively, the "Foreign Subcustodian" or indirectly through an agent, established under the first paragraph of this section, if and to the extent permitted by Section 17(f) of the Investment Company Act of 1940 and the rules promulgated by the Securities and Exchange Commission thereunder, any order issued by the Securities and Exchange Commission, or any "no-action" letter received from the staff of the Securities and Exchange Commission. To the extent the existing provisions of the Custodian Agreement are consistent with the requirements of such Section, rules, order or no-action letter, they shall apply to all such foreign custodianships. To the extent such provisions are inconsistent with or additional requirements are established by such Section, rules, order or no-action letter, the requirements of such Section, rules, order or no-action letter will prevail and the parties will adhere to such requirements; provided, however, in the absence of notification from the Corporation of any changes or additions to such requirements, the Custodian shall have no duty or responsibility to inquire as to any such changes or additions.
Use of Subcustodians. The Custodian is authorized to utilize Subcustodians in connection with its performance of the Services, and will notify the Client of the Subcustodians so employed from time to time through the Client Publications.
Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities. Any such bank selected by the Custodian to act as subcustodian shall be deemed to be the agent of the Custodian.
Use of Subcustodians. Hereinafter the term "subcustodian" will refer to any Bank branch, any branch of a qualified U.S. bank, any eligible foreign custodian or any eligible foreign securities depository with which the Bank has entered into an agreement of the type contemplated hereunder regarding Securities and/or cash held in or to be acquired for a Custody Account or a Deposit Account. With respect to Property which is maintained by the Bank in the custody of a subcustodian pursuant to Section 3:
Use of Subcustodians. With respect to Property which is maintained by the Bank in the physical custody of a subcustodian pursuant to Section 3:
Use of Subcustodians. The Custodian may make arrangements, where appropriate, with other banks having not less than two million dollars aggregate capital, surplus and undivided profits for the custody of securities and cash. All subcustodians of the Custodian (such subcustodians, collectively, the "Subcustodians") shall be subject to the instructions of the Custodian and not to those of the Trust and shall act solely as agent of the Custodian.
Use of Subcustodians and Depositories (a) BNY Mellon will be entitled to utilize Subcustodians and Depositories in connection with its performance hereunder; provided that BNY Mellon will not utilize a Subcustodian that is an “Eligible Foreign Custodian” (as defined in Rule 17f-5 under the 0000 Xxx) to hold “Foreign Assets” (as defined in such Rule 17f-5) until after BNY Mellon is informed, pursuant to such means as determined by BNY Mellon, that Customer’s board of directors or similar governing body or Customer’s “Foreign Custody Manager” (as defined in such Rule 17f-5) has determined that utilization of such Subcustodian satisfies the applicable requirements of such Rule 17f-5. (b) BNY Mellon will only utilize Subcustodians that have entered into an agreement with BNY Mellon or a BNY Mellon Affiliate, and Assets held through a Subcustodian will be held subject to the terms and conditions of such Subcustodian’s respective agreement. (c) Assets deposited in a Depository will be held subject to the rules, procedures, terms and conditions of such Depository. Subcustodians may hold Assets in Depositories in which such Subcustodians participate. (d) In connection with each Depository utilized by BNY Mellon that is a “securities depository” (as defined in Rule 17f-4 under the 1940 Act), BNY Mellon (a) will exercise due care in accordance with reasonable commercial standards in discharging its duties as a securities intermediary to obtain and thereafter maintain Securities or financial assets deposited or held in such Depository and (b) will provide, promptly upon request by Customer, such reports as are available concerning the internal accounting controls and financial strength of BNY Mellon. (e) With respect to each Foreign Depository, BNY Mellon will exercise reasonable care, prudence and diligence (a) to provide Customer with an analysis of the custody risks associated with maintaining assets with the Foreign Depository and (b) to monitor such custody risks on a continuing basis and promptly notify Customer of any material change in such risks. Customer acknowledges and agrees that such analysis and monitoring will be made on the basis of, and limited by, information gathered from certain Subcustodians or through publicly available information otherwise obtained by BNY Mellon, and will not include any evaluation of the matters referenced in Section 14.2(b)(i). (f) Unless otherwise required by local law or practice or a particular Subcustodian agreement, Assets deposited with S...
Use of Subcustodians. The Custodian, in connection with the purchase and sale by a Fund of securities outside the United States, in its discretion and in accordance with the applicable provisions of Rule 17f-5 under the 1940 Act, as such Rule may from time to time be amended, may appoint in writing (and may at any time remove) any other bank or trust company (which may include a foreign branch or agency of a bank or trust company) as its agent hereunder (individually, a "Subcustodian") to carry out, in accordance with the terms of this Agreement, such of the provisions of the Agreement as the Custodian may, from time to time, direct; provided, however, that any such foreign -------- Subcustodian would meet the qualifications pursuant to Rule 17f-5, and any U.S. Subcustodian would meet the qualifications for a successor custodian set forth in Section 18 herein (and which will have been selected with reasonable care, having in mind the duties to be assigned to it); and further provided that the Trust's Board of Trustees has approved such -------- foreign subcustody arrangements in accordance with the requirements of Rule 17f-5. Such Subcustodian shall be the agent of the Custodian and not the agent of such Fund, and the Custodian shall be fully responsible for the acts of such Subcustodian and shall not be relieved of any of its responsibilities or liabilities hereunder by the appointment of such Subcustodian.
Use of Subcustodians. The Custodian may, in connection with the purchase and sale by a Fund of securities outside the United states, in its discretion appoint in writing (and may at any time remove) any other. bank or trust company (which may include a foreign branch or agency of a bank or trust company) as its agent hereunder (individually, a “Subcustodian”) to carry out, in accordance with the terms of this Agreement, such of the provisions of the Agreement as the Custodian may, from time to time, direct; provided, however, that such Subcustodian (which itself would meet the qualifications for a successor Custodian set forth in Section 18 and which will have been selected with reasonable care, having in mind the duties to be assigned to it) is understood to be the agent of the Custodian and not the agent of such Fund, and the Custodian shall be fully responsible for the acts of such Subcustodian and shall not be relieved of any of its responsibilities hereunder by the appointment of such Subcustodian.
Use of Subcustodians. Subject to Board of Trustees approval pursuant to Rule 17f-5 under the 1940 Act, the Custodian may, in connection with the purchase and sale
