AVAILABLE CORPORATIONS FOR ALL TRANSACTIONS BY SUCH TIME AND DATE AS
CONDITIONS IN THE RELEVANT MARKET DICTATE. AS USED HEREIN, "SUFFICIENT
IMMEDIATELY AVAILABLE CORPORATIONS" SHALL MEAN EITHER (I) SUFFICIENT CASH
DENOMINATED IN U.S. DOLLARS TO PURCHASE THE NECESSARY FOREIGN CURRENCY, OR (II)
SUFFICIENT APPLICABLE FOREIGN CURRENCY, TO SETTLE THE TRANSACTION.
CUSTODIAN
SHALL PROVIDE THE CORPORATION WITH IMMEDIATELY AVAILABLE CORPORATIONS EACH DAY
WHICH RESULT FROM THE ACTUAL SETTLEMENT OF ALL SALE TRANSACTIONS, BASED UPON
ADVICES RECEIVED BY CUSTODIAN FROM SUBCUSTODIANS, DEPOSITORIES, AND FOREIGN
DEPOSITORIES.
SUCH CORPORATIONS SHALL BE IN U.S. DOLLARS OR SUCH OTHER CURRENCY
AS THE CORPORATION MAY SPECIFY TO CUSTODIAN.
(B)
ANY FOREIGN EXCHANGE TRANSACTION EFFECTED BY CUSTODIAN IN CONNECTION WITH
THIS AGREEMENT MAY BE ENTERED WITH CUSTODIAN OR A CUSTODIAN AFFILIATE ACTING AS
PRINCIPAL OR OTHERWISE THROUGH CUSTOMARY BANKING CHANNELS.
THE CORPORATION MAY
ISSUE A STANDING CERTIFICATE OR INSTRUCTIONS WITH RESPECT TO FOREIGN EXCHANGE
TRANSACTIONS, BUT CUSTODIAN MAY ESTABLISH RULES OR LIMITATIONS CONCERNING ANY
FOREIGN EXCHANGE FACILITY MADE AVAILABLE TO THE CORPORATION.
THE CORPORATION
SHALL BEAR ALL RISKS OF INVESTING IN SECURITIES OR HOLDING CASH DENOMINATED IN A
FOREIGN CURRENCY.
(C)
TO THE EXTENT THAT CUSTODIAN HAS AGREED TO PROVIDE PRICING OR OTHER
INFORMATION SERVICES IN CONNECTION WITH THIS AGREEMENT, CUSTODIAN IS AUTHORIZED
TO UTILIZE ANY VENDOR (INCLUDING BROKERS AND DEALERS OF SECURITIES) REASONABLY
BELIEVED BY CUSTODIAN TO BE RELIABLE TO PROVIDE SUCH INFORMATION.
THE
CORPORATION UNDERSTANDS THAT CERTAIN PRICING INFORMATION WITH RESPECT TO COMPLEX
FINANCIAL INSTRUMENTS (E.G., DERIVATIVES) MAY BE BASED ON CALCULATED AMOUNTS
RATHER THAN ACTUAL MARKET TRANSACTIONS AND MAY NOT REFLECT ACTUAL MARKET VALUES,
AND THAT THE VARIANCE BETWEEN SUCH CALCULATED AMOUNTS AND ACTUAL MARKET VALUES
MAY OR MAY NOT BE MATERIAL. WHERE VENDORS DO NOT PROVIDE INFORMATION FOR
PARTICULAR SECURITIES OR OTHER PROPERTY, AN AUTHORIZED PERSON MAY ADVISE
CUSTODIAN IN A CERTIFICATE REGARDING THE FAIR MARKET VALUE OF, OR PROVIDE OTHER
INFORMATION WITH RESPECT TO, SUCH SECURITIES OR PROPERTY AS DETERMINED BY IT IN
GOOD FAITH.
CUSTODIAN SHALL NOT BE LIABLE FOR ANY LOSS, DAMAGE OR EXPENSE
INCURRED AS A RESULT OF ERRORS OR OMISSIONS WITH RESPECT TO ANY PRICING OR OTHER
INFORMATION UTILIZED BY CUSTODIAN HEREUNDER.
10.
UNTIL SUCH TIME AS CUSTODIAN RECEIVES A CERTIFICATE TO THE
CONTRARY WITH RESPECT TO A PARTICULAR SECURITY, CUSTODIAN MAY RELEASE THE
IDENTITY OF THE CORPORATION TO AN ISSUER WHICH REQUESTS SUCH INFORMATION
PURSUANT TO THE SHAREHOLDER COMMUNICATIONS ACT OF 1985 FOR THE SPECIFIC PURPOSE
OF DIRECT COMMUNICATIONS BETWEEN SUCH ISSUER AND SHAREHOLDER.
8
ARTICLE IV
PURCHASE AND SALE OF SECURITIES;
CREDITS TO ACCOUNT
1.
PROMPTLY AFTER EACH PURCHASE OR SALE OF SECURITIES BY THE CORPORATION,
THE CORPORATION SHALL DELIVER TO CUSTODIAN A CERTIFICATE OR INSTRUCTIONS, OR
WITH RESPECT TO A PURCHASE OR SALE OF A SECURITY GENERALLY REQUIRED TO BE
SETTLED ON THE SAME DAY THE PURCHASE OR SALE IS MADE, ORAL INSTRUCTIONS
SPECIFYING ALL INFORMATION CUSTODIAN MAY REASONABLY REQUEST TO SETTLE SUCH
PURCHASE OR SALE.
CUSTODIAN SHALL ACCOUNT FOR ALL PURCHASES AND SALES OF
SECURITIES ON THE ACTUAL SETTLEMENT DATE UNLESS OTHERWISE AGREED BY