Common use of Accounts and Disbursements Clause in Contracts

Accounts and Disbursements. The Custodian shall establish and maintain a separate account for each Fund (each, a “Separate Account”) and shall credit to the Separate Account all moneys in any On-Book Currency received by the Custodian into a Separate Account (whether by way of deposit or arising out of or in connection with a security transaction (“Cash”) received by it or a Sub-Custodian for the account of such Fund and shall disburse, or cause a Sub-Custodian to disburse (including instructing cash movements to or from any Off-Book Cash Accounts), the same only: 1. In payment for Securities purchased for the relevant Fund, as provided in Section 7 hereof; 2. In payment of dividends or distributions with respect to the Shares of such Fund, as provided in Section 12 hereof; 3. In payment of original issue or other taxes with respect to the Shares of such Fund, as provided in Section 13(c) hereof; 4. In payment for Shares which have been redeemed by such Fund, as provided in Section 13 hereof; 5. In payment of fees and in reimbursement of the expenses and liabilities of the Custodian attributable to the Funds, as provided in Sections 5 and 17(h) hereof; 6. Pursuant to Instructions setting forth the name of the relevant Fund and the name and address of the person to whom the payment is to be made, the amount to be paid and the purpose for which payment is to be made.