Exhibit 99(g)(2)
AMENDMENT TO CUSTODIAN CONTRACT
--------------------------------
This Amendment to the Custodian Contract is made as of June 1, 1999, by
and between Alliance Utility Income Fund, Inc. (the "Fund") and State Street
Bank and Trust Company (the "Custodian"). Capitalized terms used in this
Amendment without definition shall have the respective meanings given to such
terms in the Custodian Contract referred to below.
WHEREAS, the Fund and the Custodian entered into a Custodian Contract
dated as of September 28, 1993 (as amended and in effect from time to time, the
"Contract"); and
WHEREAS, the Fund and the Custodian desire to amend certain provisions of
the Contract to accommodate the Custodian's delegation of sub-custody
responsibilities to its affiliate, State Street Trust Company Canada;
NOW THEREFORE, in consideration of the foregoing and the mutual covenants
and agreements hereinafter contained, the parties hereby agree to amend the
Contract, pursuant to the terms thereof, as follows:
I. Paragraph 3.9 is hereby amended to read as follows:
3.9 Liability of Custodian. The Custodian shall be liable for the acts or
omissions of a foreign banking institution to the same extent as set forth
respect to sub-custodians generally in this Contract and, regardless of
whether assets are maintained in the custody of a foreign banking
institution, a foreign securities depository, or a branch of a U.S. bank
as contemplated by paragraph 3.12 hereof, the Custodian shall not be
liable for any loss, damage, cost, expense, liability or claim resulting
from nationalization, expropriation, currency restrictions, or acts of war
or terrorism or any loss where the sub-custodian has otherwise exercised
reasonable care. Notwithstanding the foregoing provisions of this
paragraph 3.9, (i) in delegating custody duties to State Street London
Ltd., the Custodian shall not be relieved of any responsibility to the
Fund for any loss due to such delegation, except such loss may result from
(a) political risk (including, but not limited to, exchange control
restrictions, confiscation, expropriation, nationalization, insurrection,
civil strife or armed hostilities) and (b) other losses (excluding a
bankruptcy or insolvency of State Street Trust London Ltd. not caused by
political risk) due to Acts of God, nuclear incident or other losses under
circumstances where the Custodian and State Street London Ltd. have
exercised reasonable care; and (ii) the delegation by State Street Bank
and Trust Company to its affiliate, State Street Trust Company Canada, of
sub-custody duties in Canada shall not relieve State Street Bank and Trust
Company of any responsibility for any loss due to the delegation to State
Street Trust Company Canada, except (a) such loss as may result from
political risk (e.g., exchange control restrictions, confiscation,
expropriation, nationalization, insurrection, civil strife or armed
hostilities) and (b) other losses (excluding losses resulting from a
bankruptcy or insolvency of State Street Trust Company Canada not caused
by political risk ) under circumstances where State Street Bank and Trust
Company and State Street Trust Company Canada have exercised reasonable
care (including, without limitation, Acts of God, nuclear incident and the
like).
II. In all respects not inconsistent herewith, the Contract is hereby ratified
and affirmed.
[Remainder of page intentionally left blank]
IN WITNESS WHEREOF, each of the parties has caused this Amendment to be
executed in its name and behalf by its duly authorized representative as of the
date first above written.
WITNESSED BY: STATE STREET BANK AND TRUST COMPANY
/s/ ▇▇▇▇ ▇. ▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
-------------------- -------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Associate Counsel Title: Vice Chairman
WITNESSED BY: ALLIANCE UTILITY INCOME FUND INC.
/s/ ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇.
--------------------- --------------------------
Name: ▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇.
Title: Legal Administrative Title: Secretary
Officer
