Common use of Borrowing and Lending Instructions Clause in Contracts

Borrowing and Lending Instructions. The portfolio managers for each participating Fund shall provide the InterFund Program Team with standing instructions as to their desire to have the Fund act as a Lender when such Fund has uninvested cash balances (“Lending Instructions”). The portfolio managers for each participating Fund may provide the InterFund Program Team with standing instructions as to their desire to participate as a Borrower should the borrowing need arise (“Borrowing Instructions”). The respective portfolio managers may revoke or change Lending Instructions or Borrowing Instructions with respect to a Fund by notifying the InterFund Program Team. No portfolio managers of any Fund will serve as a member of the InterFund Program Team.

Borrowing and Lending Instructions. The portfolio managers for each participating Fund shall provide the InterFund Program Interfund Lending Team with standing instructions as to their desire to have the Fund act as a Lender when such Fund has uninvested cash balances (“Lending Instructions”). The portfolio managers for each participating Fund may shall provide the InterFund Program Interfund Lending Team with standing instructions as to their desire to participate as a Borrower should the borrowing need arise (“Borrowing Instructions”). The respective portfolio managers may revoke or change Lending Instructions or Borrowing Instructions with respect to a Fund by notifying the InterFund Program Interfund Lending Team. No portfolio managers of any Fund will serve as a member of the InterFund Program Interfund Lending Team.