FIRST AMENDMENT TO THE
CUSTODY AGREEMENT
BETWEEN
ACCESSOR FUNDS, INC.,
AND
THE FIFTH THIRD BANK
This FIRST AMENDMENT TO THE CUSTODY AGREEMENT (the "First Amendment"),
is entered into this 11th day of November, 1997, by and between ACCESSOR FUNDS,
INC., a Maryland corporation (the "Fund"), and THE FIFTH THIRD BANK, a banking
company organized under the laws of the State of Ohio (the "Custodian").
BACKGROUND
A. The Fund and Fifth Third entered into a CUSTODY AGREEMENT on October
4, 1996, wherein the Fund desires that the Securities and cash of each of the
investment portfolios (such investment portfolios individually referred to
herein as a "Portfolio" and collectively as the "Portfolios"), be held and
administered by the Custodian pursuant to the Custody Agreement.
The Fund and Fifth Third each wish to amend Section 3.5(a) to the
Custody Agreement to reflect a change in the procedures for authorizing and
instructing the Custodian on an on-going basis to deposit securities of the Fund
in any Securities Depository or Book-Entry System.
AGREEMENT
Therefore, in consideration of the mutual covenants contained herein
and other valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:
Section 3.5(a) of the Custody Agreement is amended in its
entirety to read as follows:
3.5 Securities Depositories and Book-Entry Systems. The
Custodian may deposit and/or maintain Securities of the Portfolios in a
Securities Depository or in a Book-Entry System, subject to the
following provisions:
(a) Prior to a deposit of Securities of the
Portfolios in any Securities Depository or Book-Entry System,
the Portfolio shall deliver to the Custodian a resolution of
the Board of Directors, certified by an Officer, authorizing
and instructing the Custodian on an on-going basis to deposit
in such Securities Depository or Book-Entry System all
Securities eligible for deposit therein and to make use of
such Securities Depository or Book-Entry System to the extent
possible and practical in connection with its performance
hereunder, including, without limitation, in connection with
settlements of purchases and sales of Securities, loans of
Securities, and deliveries and returns of collateral
consisting of Securities. In the event of a change in the
Securities Depository or Book-Entry System employed for the
deposit of Securities of the Portfolios, the Fund shall review
and adopt a resolution and deliver a copy thereof, certified
by an Officer, to the Custodian.
IN WITNESS WHEREOF, the parties have entered into this First Amendment
to the Custody Agreement as of the day and year first above set forth.
ACCESSOR FUNDS, INC.
By: /s/ J. Xxxxxxx Xxxxxxx III, President
J. Xxxxxxx Xxxxxxx III, President
THE FIFTH THIRD BANK
By: /s/ Xxxxxxxxx X. Xxxxxxxxxx
Name: Xxxxxxxxx X. Xxxxxxxxxx
Title: Officer
