OF SECURITIES Clause Samples

OF SECURITIES. The Custodian agrees to transfer, exchange or deliver securities as provided in Article 6, or on receipt by it of, and in accordance with, a written order from the Fund in which the Fund shall state specifically which of the following cases is covered thereby, provided that it shall not be the responsibility of the Custodian to determine the propriety or legality of any such order:

OF SECURITIES. Custodian agrees to transfer, exchange or deliver any Securities of the Trust held by Custodian hereunder only (a) for sales of such Securities for the account of the Trust upon Receipt of Payment by Custodian therefor, (b) to the issuer thereof, or its agents, when such Securities are called, redeemed or retired or otherwise become payable, provided that in any such case the cash or other consideration is to be delivered to the Custodian, (c) in exchange for or upon conversion into other Securities alone or other Securities and cash whether pursuant to any plan or merger, consolidation, reorganization, recapitalization or readjustment, or otherwise of the Securities of the issuer of such Securities, provided that, in any such case, the new Securities and cash, if any, are to be delivered to the Custodian, (d) upon exercise of subscription, purchase or other similar rights represented by such Securities, provided that, in any such case the new Securities are to be delivered to the Custodian, (e) for the purpose of exchanging interim receipts or temporary Securities for definitive Securities, (f) for loans of Securities by the Fund, but only against receipt of adequate collateral as agreed upon from time to time by Custodian and the Fund, which may be in the form of cash or obligations issued by the United States government, its agencies or instrumentalities, except that in connection with any loans for which collateral is to be credited to Custodian's account in the book-entry system authorized by the U.S. Department of the Treasury, Custodian will not be held liable or responsible for the delivery of Securities owned by the Fund prior to the receipt of such collateral, (g) for the purpose of redeeming in kind Shares of the Fund, provided that, in any such case the cash or other consideration is to be delivered to the Custodian, or (h) for other proper purposes.

OF SECURITIES. To the extent ---------------------------------- authorized by the Board of Directors, the Chairman of the Board, the President, or any Vice President together with the Secretary or Treasurer or an Assistant Secretary or Assistant Treasurer may sell, transfer, endorse, and assign any shares of stock, bonds or other securities owned by or held in the name of the Corporation, and may make, execute and deliver in the name of the Corporation, under its corporate seal, any instruments that may be appropriate to effect any such sale, transfer, endorsement or assignment.

OF SECURITIES. Neither Borrower nor any agent with the authority of Borrower has offered any securities similar to the Notes, nor solicited any offer to buy any such securities, in a manner which would render the offering, sale or issuance of the Notes subject to the registration requirements of the Securities Act of 1933, as amended.

OF SECURITIES. Guarantee.