Common use of Qualification Requirements Clause in Contracts

Qualification Requirements. (a) You have entered into a Financial Institution Sales Contract with us with respect to the Putnam Family of Mutual Fun▇▇ (▇▇e "Putnam Funds"), whose share▇ ▇▇▇ have agreed to make available to your customers on an agency basis. (b) You are the financial institution of record for accounts in Putnam Funds having an aggr▇▇▇▇▇ average net asset value of at least the minimum amount set forth in Schedule 2 (Financial Institution Requirements) during the period for which a service fee is to be paid. Putnam Fund accounts are ac▇▇▇▇▇▇ in any open-end Putnam Fund but excluding a▇▇ ▇▇▇ounts for your organization's own retirement plans. (c) One or more of your current employees must be the designated registered representative(s) in the case of a bank affiliated dealer, or agent representative(s) in the case of a bank (both referred to as "representatives"), on accounts in Putnam Funds having an aggr▇▇▇▇▇ average net asset value of at least the minimum amount set forth in Schedule 2 (Representative Requirements) during the period for which a service fee is to be paid. (d) You will provide the following information and agree that we will be entitled to rely on the accuracy of such information in updating our records for determining the levels of service fees payable to you under the terms of this Agreement. You understand that such payments will be based solely on Putnam's records: For ▇▇▇▇ ▇▇▇nam Fund account registe▇▇▇ ▇▇ the name of one of your customers, you will advise us, preferably by electronic means, before the end of the second month in each calendar quarter, of the representative's name, identification number, branch number, and telephone number.

Qualification Requirements. (a) You have entered into a Financial Institution Sales Contract with us with respect to the Putnam ▇▇▇▇▇▇ Family of Mutual FunFunds (the "▇▇▇▇▇▇ (▇▇e "Putnam Funds"), whose share▇ ▇▇▇ shares you have agreed to make available to your customers on an agency basis. (b) You are the financial institution of record for accounts in Putnam Funds having an aggr▇▇▇▇▇▇ Funds having an aggregate average net asset value of at least the minimum amount set forth in Schedule SCHEDULE 2 (Financial Institution RequirementsFINANCIAL INSTITUTION REQUIREMENTS) during the period for which a service fee is to be paid. Putnam Fund accounts are ac▇▇▇▇▇▇ Fund accounts are accounts in any open-open- end Putnam ▇▇▇▇▇▇ Fund but excluding a▇▇ ▇▇▇ounts any accounts for your organization's own retirement plans. (c) One or more of your current employees must be the designated registered representative(s) in the case of a bank affiliated dealer, or agent representative(s) in the case of a bank (both referred to as "representatives"), on accounts in Putnam Funds having an aggr▇▇▇▇▇▇ Funds having an aggregate average net asset value of at least the minimum amount set forth in Schedule SCHEDULE 2 (Representative RequirementsREPRESENTATIVE REQUIREMENTS) during the period for which a service fee is to be paid. (d) You will provide the following information and agree that we will be entitled to rely on the accuracy of such information in updating our records for determining the levels of service fees payable to you under the terms of this Agreement. You understand that such payments will be based solely on Putnam's ▇▇▇▇▇▇'▇ records: For each ▇▇▇▇▇▇ ▇▇▇nam Fund account registe▇▇▇ ▇▇ registered in the name of one of your customers, you will advise us, preferably by electronic means, before the end of the second month in each calendar quarter, of the representative's name, identification number, branch number, and telephone number.

Qualification Requirements. (a) You have entered into a Financial Institution Sales Contract with us with respect to the Putnam P▇▇▇▇▇ Family of Mutual FunFunds (the "P▇▇▇▇▇ (▇▇e "Putnam Funds"), whose share▇ ▇▇▇ shares you have agreed to make available to your customers on an agency basis. (b) You are the financial institution of record for accounts in Putnam Funds having an aggrP▇▇▇▇▇ Funds having an aggregate average net asset value of at least the minimum amount set forth in Schedule SCHEDULE 2 (Financial Institution RequirementsFINANCIAL INSTITUTION REQUIREMENTS) during the period for which a service fee is to be paid. Putnam Fund accounts are ac▇P▇▇▇▇▇ Fund accounts are accounts in any open-open- end Putnam P▇▇▇▇▇ Fund but excluding a▇▇ ▇▇▇ounts any accounts for your organization's own retirement plans. (c) One or more of your current employees must be the designated registered representative(s) in the case of a bank affiliated dealer, or agent representative(s) in the case of a bank (both referred to as "representatives"), on accounts in Putnam Funds having an aggrP▇▇▇▇▇ Funds having an aggregate average net asset value of at least the minimum amount set forth in Schedule SCHEDULE 2 (Representative RequirementsREPRESENTATIVE REQUIREMENTS) during the period for which a service fee is to be paid. (d) You will provide the following information and agree that we will be entitled to rely on the accuracy of such information in updating our records for determining the levels of service fees payable to you under the terms of this Agreement. You understand that such payments will be based solely on Putnam's P▇▇▇▇▇'▇ records: For each P▇▇▇▇▇ ▇▇▇nam Fund account registe▇▇▇ ▇▇ registered in the name of one of your customers, you will advise us, preferably by electronic means, before the end of the second month in each calendar quarter, of the representative's name, identification number, branch number, and telephone number.