Common use of Daily Statement of Accounts Clause in Contracts

Daily Statement of Accounts. Custodian will, within a reasonable time, render to Fund as of the close of business on each day, a detailed statement of the amounts received or paid and of Assets received or delivered for the Account of each Portfolio during said day. Custodian will, from time to time, upon request by Fund, render a detailed statement of the Assets held for one or more of the Portfolios under this Agreement, and Custodian will maintain such Records as are necessary to enable it to do so and will permit such persons as are authorized by Fund, and if demanded, federal and state regulatory agencies to examine the Assets and Records. In any requested review by a regulatory authority having the requisite authority over Fund's Assets or Records, Custodian will furnish any information or reports regarding such Assets or Records which may be requested in order to ascertain whether the operations of Fund are being conducted in a manner consistent with applicable laws and regulations. Upon Instructions or as demanded by federal or state regulatory agencies, Custodian will instruct sub-custodian to permit such persons as are authorized by Fund and if demanded, federal and state regulatory agencies to examine the Assets and Records held by sub-custodian. Custodian acknowledges and understands that Fund engages in securities lending and overnight investing (often through repurchase transactions). In connection therewith, Custodian agrees to provide to Fund, to any portfolio manager of Fund, to the Adviser of Fund, or to any third party authorized by Fund, Asset holdings, the cash amount available for investing, and sale transaction information, on a real time basis or at such times as may be required in order for such parties to conduct securities lending and overnight investment programs. Custodian agrees to cooperate with Fund, its Adviser, its portfolio managers, and authorized third party lending agents and overnight investment agents to facilitate communications, and to permit on-line access and appropriate interfaces to facilitate computer and personal access to such information as is necessary to effect securities lending and overnight investment programs.