Common use of Appointment of Sub Clause in Contracts

Appointment of Sub. Custodian ---------------------------- 1. Notwithstanding any other provisions of this Agreement, all or any of the monies or securities of Trust may be held in Custodian's own custody or one or more other banks or trust companies acting as sub- custodians as may be selected by Custodian. For clarification, references herein to a "sub-custodian" include a foreign sub- custodian. Any such sub-custodian must have the qualifications required for custodian under the 1940 Act. The sub-custodian may participate directly or indirectly in the Depository Trust Company, any other depository, or the Treasury/Federal Reserve Book Entry System (as such entity is defined at 17 CFR Sec. 270.17f-4(b)). The sub-custodian may also participate directly or indirectly in any foreign securities depository or clearing or settlement system. Use of any depository, clearing or settlement system or book-entry system will subject Trust to the rules, regulations and practices applicable to that depository, clearing or settlement system or book-entry system.

Appointment of Sub. Custodian ---------------------------- 1. Notwithstanding any other provisions of this Agreement, all or any of the monies or securities of Trust may be held in Custodian's own custody or one or more other banks or trust companies acting as sub- sub-custodians as may be selected by Custodian. For clarification, references herein to a "sub-custodian" include a foreign sub- custodian. Any such sub-custodian must have the qualifications required for custodian under the 1940 Act. The sub-custodian may participate directly or indirectly in the Depository Trust Company, any other depository, or the Treasury/Federal Reserve Book Entry System (as such entity is defined at 17 CFR Sec. 270.17f-4(b)). The sub-custodian may also participate directly or indirectly in any foreign securities depository or clearing or settlement system. Use of any depository, clearing or settlement system or book-entry system will subject Trust to the rules, regulations and practices applicable to that depository, clearing or settlement system or book-entry system.