Common use of Use of Securities Depositories Clause in Contracts

Use of Securities Depositories. The Custodian may deposit and maintain Investments in any Securities Depository, either directly or through one or more Subcustodians appointed by the Custodian. Investments held in a Securities Depository shall be held (a) subject to the agreement, rules, statement of terms and conditions or other document or conditions effective between the Securities Depository and the Custodian or the Subcustodian, as the case may be, and (b) in an account for the Fund or in bulk segregation in an account maintained for the non-proprietary assets of the entity holding such Investments in the Depository with identification of the Fund’s and each Portfolio’s assets on the Custodian’s books. If market practice or the rules and regulations of the Securities Depository prevent the Custodian, the Subcustodian or (any agent of either) from holding its client assets in such a separate account, the Custodian, the Subcustodian or other agent shall as appropriate segregate such Investments for benefit of the Portfolio or the Fund or for benefit of clients of the Custodian generally on its own books with identification of the Fund’s and each Portfolio’s assets on the Custodian’s books.

Use of Securities Depositories. The Custodian may deposit and maintain Investments in any Securities Depository, either directly or through one or more Subcustodians appointed by the Custodian. Investments held in a Securities Depository shall be held (a) subject to the agreement, rules, statement of terms and conditions or other document or conditions effective between the Securities Depository and the Custodian or the Subcustodian, as the case may be, and (b) in an account for the Fund or in bulk segregation in an account maintained for the non-proprietary assets of the entity holding such Investments in the Depository with identification of the Fund’s and each or Portfolio’s assets assets, as applicable, on the books and records of the Custodian’s books. If market practice or the rules and regulations of the Securities Depository prevent the Custodian, the Subcustodian or (any agent of either) either from holding its client assets in such a separate account, the Custodian, the Subcustodian or other any agent of either shall as appropriate segregate such Investments for benefit of the Portfolio or the Fund or for benefit of clients of the Custodian generally on its own books with identification of the Fund’s and each or Portfolio’s assets assets, as applicable, on the books and records of the Custodian’s books.

Use of Securities Depositories. The Custodian may deposit and maintain Investments in any Securities DepositoryDepository (as defined in Section 13.22), either directly or through one or more Subcustodians appointed by the Custodian. Investments held in a Securities Depository shall be held (a) subject to the agreement, rules, statement of terms and conditions or other document or conditions effective between the Securities Depository and the Custodian or the Subcustodian, as the case may be, ; and (b) in an account for the Fund or in bulk segregation in an account maintained for the non-proprietary assets of the entity holding such Investments in the Depository with identification of the Fund’s and each Portfolio’s assets on the Custodian’s booksSecurities Depository. If market practice or the rules and regulations of the Securities Depository prevent the Custodian, the Subcustodian or (any agent of either) from holding its client clients’ assets held in such Securities Depository in such a separate account, the Custodian, the Subcustodian or other agent shall as appropriate segregate such Investments for benefit of the Portfolio or the Fund or for benefit of clients of the Custodian generally on its own books with identification of the Fund’s and each Portfolio’s assets on the Custodian’s books.