Common use of Safekeeping of Securities Clause in Contracts

Safekeeping of Securities. 3.01 Custodian shall in all instances maintain Principal's Securities and similar investments in accordance with governing law including, but not limited to, the Oklahoma Insurance Code, as amended from time to time. Custodian shall maintain Securities in safe-keeping on Custodian's premises, in a recognized clearing corporation, or in the Federal Reserve book-entry system. 3.02 Certificated Securities deposited by Principal and held by the Custodian shall be held separate and physically segregated from the Securities of the Custodian and of all of its other customers and shall be in the name of the Principal or a nominee of the Principal or, if in a clearing corporation, in the name of the clearing corporation or its nominee. 3.03 Securities held in a fungible bulk by the Custodian as part of a Filing of Securities by Issue (FOSBI) arrangement and Securities deposited in a clearing corporation or in the Federal Reserve book-entry system shall be deposited in an account that includes only assets held by Custodian for its customers and shall be separately identified on the Custodian's official records as being owned by the Principal. The Custodian may deposit the Securities directly or through one or more agents which are also qualified to act as custodian for investment companies. Custodian's records shall identify which Securities are held by Custodian or by its agent and which Securities are in a clearing corporation or in the Federal Reserve book-entry system. If the Securities are in a clearing corporation or in the Federal Reserve book-entry system, the records shall also identify where the Securities are and, if in a clearing corporation, the name of the clearing corporation and, if through an agent, the name of the agent. Custodian shall send Principal a confirmation of any transfers to or from the account of Principal. Where Securities are transferred to that account, Custodian shall also, by book entry or otherwise, identify as belonging to Principal a quantity of securities in a fungible bulk of securities (i) registered in the name of Custodian (or its nominee) or (ii) shown on Custodian's account on the books of the clearing agency, the book entry system, or Custodian's agent.

Safekeeping of Securities. 3.01 (i) The Securities in the Custody Accounts and the Cash in the Deposit Accounts shall be identified in the records of the Foreign Custodian as being held for the account of the Custodian as agent for its Clients. The Custodian shall indemnify and hold the Foreign Custodian and its nominee harmless from liability as the holder of record. To the extent that the Securities are physically held in all instances maintain Principal's Securities and similar investments in accordance with governing law including, but not limited tothe Custody Accounts, the Oklahoma Insurance Code, as amended from time to time. Custodian shall maintain Securities in safe-keeping on Custodian's premises, in a recognized clearing corporation, or in the Federal Reserve book-entry system. 3.02 Certificated Securities deposited by Principal and held by the Custodian shall be held separate and physically segregated from the Securities general assets of the Custodian and Foreign Custodian, the assets of all of its the Foreign Custodian's other customers and shall any assets being held for the account of Brow▇ ▇▇▇thers in its individual capacity. (ii) The Foreign Custodian may, with the written approval of the Custodian, maintain Securities with the Euro-clear System and any other securities depository or clearing agency which is incorporated or organized under the laws of a country other than the United States of America (a 2 "Foreign Securities System"); provided that such Foreign Securities System is supervised or regulated by a government agency or regulatory authority in such country and operates (a) the central system for the handling of securities or equivalent book-entry securities in such country or (b) a transnational system for the central handling of securities or equivalent book-entry securities. Securities maintained in a Foreign Securities System may be registered in the name of the Principal or a nominee of the Principal orForeign Custodian, if in a clearing corporation, in the name of the clearing corporation such Foreign Securities System or its nominee. 3.03 ; provided that the Securities held are listed in a fungible bulk by the records of the Foreign Custodian as part of a Filing of Securities by Issue (FOSBI) arrangement and Securities deposited in a clearing corporation or in the Federal Reserve book-entry system shall be deposited in an account that includes only assets being held by Custodian it, such Foreign Securities System or the nominee of such Foreign Securities System as custodian for its customers and shall be separately identified on the Custodian's official Clients and in the records of such Foreign Securities System as being owned held by the Principal. The Custodian may deposit the Securities directly it or through one or more agents which are also qualified to act its nominee as custodian for investment companies. the Foreign Custodian's records shall identify which clients. Securities are held by Custodian or by its agent and which Securities are maintained in a clearing corporation Foreign Securities System shall be covered by adequate insurance. The Foreign Custodian shall not maintain Securities with any Foreign Securities System unless it reasonably believes that Securities maintained with such Foreign Securities System will not be or become subject to any right, charge, security interest, lien or claim of any kind in favor of such Foreign Securities System or its creditors, including a receiver or trustee in bankruptcy, except for a claim of payment for the Federal Reserve book-entry system. If the Securities are in a clearing corporation safe custody or in the Federal Reserve book-entry system, the records shall also identify where the Securities are and, if in a clearing corporation, the name administration of the clearing corporation and, if through an agent, the name of the agent. Custodian shall send Principal a confirmation of any transfers to or from the account of Principal. Where Securities are transferred to that account, Custodian shall also, by book entry or otherwise, identify as belonging to Principal a quantity of securities in a fungible bulk of securities (i) registered in the name of Custodian (or its nominee) or (ii) shown on Custodian's account on the books of the clearing agency, the book entry system, or Custodian's agentSecurities.

Safekeeping of Securities. 3.01 Custodian shall in all instances maintain Principal's Securities and similar investments in accordance with governing law including, but not limited to, the Oklahoma Insurance Code, as amended from time to time. Custodian shall maintain Securities in safe-keeping on Custodian's premises, in a recognized clearing corporation, or in the Federal Reserve book-entry system. 3.02 Certificated Securities deposited by Principal and held by the Custodian shall be held separate and physically segregated from the Securities of the Custodian and of all of its other customers and shall be in the name of the Principal or a nominee of the Principal or, if in a clearing corporation, in the name of the clearing corporation or its nominee. 3.03 Securities held in a fungible bulk by the Custodian as part of a Filing of Securities by Issue (FOSBI) arrangement and Securities deposited in a clearing corporation or in the Federal Reserve book-entry system shall be deposited in an account that includes only assets held by Custodian for its customers and shall be separately identified on the Custodian's official records as being owned by the Principal. The Custodian may deposit the Securities directly or through one or more agents which are also qualified to act as custodian for investment companies. Custodian's records shall identify which Securities are held by Custodian or by its agent and which Securities are in a clearing corporation or in the Federal Reserve book-entry system. If the Securities are in a clearing corporation or in the Federal Reserve book-entry system, the records shall also identify where the Securities are and, if in a clearing corporation, the name of the clearing corporation and, if through an agent, the name of the agent. Custodian shall send Principal a confirmation of any transfers to or from the account of PrincipalAccount. Where Securities are transferred to that accountthe Account, Custodian shall also, by book entry or otherwise, identify as belonging to Principal a quantity of securities in a fungible bulk of securities (i) registered in the name of Custodian (or its nominee) or (ii) shown on Custodian's account on the books of the clearing agency, the book entry system, or Custodian's agent.

Safekeeping of Securities. 3.01 Custodian shall in all instances maintain Principal's the Securities and similar investments in accordance with governing law law, including, but not limited to, the Oklahoma Insurance Code, as amended from time to time. Custodian Custodian, in its discretion, shall maintain Securities in safe-keeping on Custodian's premises, or in a recognized clearing corporation, or in the Federal Reserve book-entry system.system subject to the following provisions: 3.02 Certificated A. Certified Securities deposited by Principal and held by the Custodian shall be held either separate and physically segregated from the Securities of the Custodian and of all of its other customers and shall be in the name of the Principal or a nominee of the Principal or, if in a clearing corporation, in the name of the clearing corporation or its nominee. 3.03 Securities held in a fungible bulk by the Custodian of Securities as part of a Filing of Securities by Issue (FOSBI) arrangement arrangement; B. Securities held in a fungible bulk by the Custodian and Securities deposited in a clearing corporation or in the Federal Reserve book-entry system shall be deposited in an account that includes only assets held by Custodian for its customers and shall be separately identified on the Custodian's official records as being owned by the Principal. The Custodian may deposit the Securities directly or through one or more agents which are also qualified to act as custodian for investment companies. Custodian's Said records shall identify which Securities are held by the Custodian or by its agent and which Securities are in a clearing corporation or in the Federal Reserve book-entry system. If the Securities are in a clearing corporation or in the Federal Reserve book-entry system, the said records shall also identify where the Securities are and, if in a clearing corporation, the name of the clearing corporation and, if through an agent, the name of the agent. Custodian ; C. All Securities that are registered shall send Principal a confirmation of any transfers to or from the account of Principal. Where Securities are transferred to that account, Custodian shall also, by book entry or otherwise, identify as belonging to Principal a quantity of securities in a fungible bulk of securities (i) be registered in the name of the Principal or in the name of a nominee of the Principal or in the name of the Custodian (or its nominee or, if in a clearing corporation, in the name of the clearing corporation or its nominee) or (ii) shown on Custodian's account on the books of the clearing agency, the book entry system, or Custodian's agent.

Safekeeping of Securities. 3.01 Custodian shall in all instances maintain Principal's the Securities and similar investments in accordance with governing law includinglaw. Custodian, but not limited toin its discretion, the Oklahoma Insurance Code, as amended from time to time. Custodian shall maintain Securities in safe-keeping on Custodian's premises, or in a recognized clearing corporation, or in the Federal Reserve book-entry system.system subject to the following provisions: 3.02 Certificated A. Certified Securities deposited by Principal and held by the Custodian shall be held either separate and physically segregated from the Securities of the Custodian and of all of its other customers and shall be in the name of the Principal or a nominee of the Principal or, if in a clearing corporation, in the name of the clearing corporation or its nominee. 3.03 Securities held in a fungible bulk by the Custodian of Securities as part of a Filing of Securities by Issue (FOSBI) arrangement arrangement; B. Securities held in a fungible bulk by the Custodian and Securities deposited in a clearing corporation or in the Federal Reserve book-entry system shall be deposited in an account that includes only assets held by Custodian for its customers and shall be separately identified on the Custodian's official records as being owned by the Principal. The Custodian may deposit the Securities directly or through one or more agents which are also qualified to act as custodian for investment companies. Custodian's Said records shall identify which Securities are held by the Custodian or by its agent and which Securities are in a clearing corporation or in the Federal Reserve book-entry system. If the Securities are in a clearing corporation or in the Federal Reserve book-entry system, the said records shall also identify where the Securities are and, if in a clearing corporation, the name of the clearing corporation and, if through an agent, the name of the agent. Custodian ; C. All Securities that are registered shall send Principal a confirmation of any transfers to or from the account of Principal. Where Securities are transferred to that account, Custodian shall also, by book entry or otherwise, identify as belonging to Principal a quantity of securities in a fungible bulk of securities (i) be registered in the name of the Principal or in the name of a nominee of the Principal or in the name of the Custodian (or its nominee or, if in a clearing corporation, in the name of the clearing corporation or its nominee) or (ii) shown on Custodian's account on the books of the clearing agency, the book entry system, or Custodian's agent.