Common use of Monitoring Responsibilities Clause in Contracts

Monitoring Responsibilities. (a) The Custodian will promptly inform each Fund in the event that the Custodian learns of a material adverse change in the financial condition of a Foreign Custodian or learns that a Foreign Custodian's financial condition has declined or is likely to decline below the minimum levels required by Rule 17f-5 of the 1940 Act. (b) The custodian will furnish such information as may be reasonably necessary to assist each Investment Company's Board in its annual review and approval of the continuance of all contracts or arrangements with Foreign Subcustodians.

Monitoring Responsibilities. (a) The Custodian will promptly inform each Fund in the event that the Custodian learns of a material adverse change in the financial condition of a Foreign Custodian or learns that a Foreign Custodian's financial condition has declined or is likely to decline below the minimum levels required by Rule 17f-5 of the 1940 Act. (b) The custodian will furnish such information as may be reasonably necessary to assist each the Investment Company's Board in its annual review and approval of the continuance of all contracts or arrangements with Foreign Subcustodians.

Monitoring Responsibilities. (a) The Custodian will promptly inform each Fund in the event that the Custodian learns of a material adverse change in the financial condition of a Foreign Custodian or learns that a Foreign Custodian's ’s financial condition has declined or is likely to decline below the minimum levels required by Rule 17f-5 of the 1940 Act. (b) The custodian will furnish such information as may be reasonably necessary to assist each Investment Company's Board in its annual review and approval of the continuance of all contracts or arrangements with Foreign Subcustodians.