Options Transactions. In accordance with Proper Instructions, the Bank shall (i) receive and retain confirmations or other documents evidencing the purchase or writing of an option on a Security or on a securities index by the Company, (ii) deposit or maintain Securities and/or cash in a segregated account in accordance with Section 4(h) hereof and (iii) release Securities and/or cash in accordance with a notice or other communication evidencing expiration, termination or exercise of such option.
Appears in 12 contracts
Sources: Custody Agreement (Princor Bond Fund Inc), Custody Agreement (Princor Balanced Fund Inc /Ia/), Custody Agreement (Princor Government Securities Income Fund Inc)