Use of Book-Entry System. The Fund shall deliver to PNC Bank certified resolutions of the Fund's Governing Board approving, authorizing and instructing PNC Bank on a continuous and on-going basis, to deposit in the Book-Entry System all securities belonging to the Fund eligible for deposit therein and to utilize the Book-Entry System to the extent possible in connection with settlements of purchases and sales of securities by the Fund, and deliveries and returns of securities loaned, subject to repurchase agreements or used as collateral in connection with borrowings.
Appears in 2 contracts
Sources: Custodian Services Agreement (Smith Barney Shearson New Jersey Municipals Fund Inc), Custodian Services Agreement (Smith Barney California Municipals Funds Inc)