PROPERTY, INCLUDING, WITHOUT LIMITATION, ANY
INVESTMENT PROPERTY OR ANY FINANCIAL ASSET, OF SUCH SERIES AT ANY TIME HELD BY
CUSTODIAN FOR THE BENEFIT OF SUCH SERIES OR IN WHICH SUCH SERIES MAY HAVE AN
INTEREST WHICH IS THEN IN CUSTODIAN'S POSSESSION OR CONTROL OR IN POSSESSION OR
CONTROL OF ANY THIRD PARTY ACTING IN CUSTODIAN'S BEHALF.
THE CORPORATION
AUTHORIZES CUSTODIAN, IN ITS SOLE DISCRETION, AT ANY TIME TO CHARGE ANY SUCH
OVERDRAFT OR INDEBTEDNESS TOGETHER WITH INTEREST DUE THEREON AGAINST ANY BALANCE
OF ACCOUNT STANDING TO SUCH SERIES' CREDIT ON CUSTODIAN'S BOOKS.
2.
IF THE CORPORATION BORROWS MONEY FROM ANY BANK (INCLUDING CUSTODIAN IF
THE BORROWING IS PURSUANT TO A SEPARATE AGREEMENT) FOR INVESTMENT OR FOR
TEMPORARY OR EMERGENCY PURPOSES USING SECURITIES HELD BY CUSTODIAN HEREUNDER AS
COLLATERAL FOR SUCH BORROWINGS, THE CORPORATION SHALL DELIVER TO CUSTODIAN A
CERTIFICATE SPECIFYING WITH RESPECT TO EACH SUCH BORROWING:
(A) THE SERIES TO
WHICH SUCH BORROWING RELATES; (B) THE NAME OF THE BANK, (C) THE AMOUNT OF THE
BORROWING, (D) THE TIME AND DATE, IF KNOWN, ON WHICH THE LOAN IS TO BE ENTERED
INTO, (E) THE TOTAL AMOUNT PAYABLE TO THE CORPORATION ON THE BORROWING DATE, (F)
THE SECURITIES TO BE DELIVERED AS COLLATERAL FOR SUCH LOAN, INCLUDING THE NAME
OF THE ISSUER, THE TITLE AND THE NUMBER OF SHARES OR THE PRINCIPAL AMOUNT OF ANY
PARTICULAR SECURITIES, AND (G) A STATEMENT SPECIFYING WHETHER SUCH LOAN IS FOR
INVESTMENT PURPOSES OR FOR TEMPORARY OR EMERGENCY PURPOSES AND THAT SUCH LOAN IS
IN CONFORMANCE WITH THE '40 ACT AND THE CORPORATION'S PROSPECTUS.
CUSTODIAN
SHALL DELIVER ON THE BORROWING DATE SPECIFIED IN A CERTIFICATE THE SPECIFIED
COLLATERAL AGAINST PAYMENT BY THE LENDING BANK OF THE TOTAL AMOUNT OF THE LOAN
PAYABLE, PROVIDED THAT THE SAME CONFORMS TO THE TOTAL AMOUNT PAYABLE AS SET
FORTH IN THE CERTIFICATE.
CUSTODIAN MAY, AT THE OPTION OF THE LENDING BANK,
KEEP SUCH COLLATERAL IN ITS POSSESSION, BUT SUCH COLLATERAL SHALL BE SUBJECT TO
ALL RIGHTS THEREIN GIVEN THE LENDING BANK BY VIRTUE OF ANY PROMISSORY NOTE OR
LOAN AGREEMENT.
CUSTODIAN SHALL DELIVER SUCH SECURITIES AS ADDITIONAL
COLLATERAL AS MAY BE SPECIFIED IN A CERTIFICATE TO COLLATERALIZE FURTHER ANY
TRANSACTION DESCRIBED IN THIS SECTION.
THE CORPORATION SHALL CAUSE ALL
SECURITIES RELEASED FROM COLLATERAL STATUS TO BE RETURNED DIRECTLY TO CUSTODIAN,
AND CUSTODIAN SHALL RECEIVE FROM TIME TO TIME SUCH RETURN OF COLLATERAL AS MAY
BE TENDERED TO IT.
IN THE EVENT THAT THE CORPORATION FAILS TO SPECIFY IN A
CERTIFICATE THE SERIES, THE NAME OF THE ISSUER, THE TITLE AND NUMBER OF SHARES
OR THE PRINCIPAL AMOUNT OF ANY PARTICULAR SECURITIES TO BE DELIVERED AS
COLLATERAL BY CUSTODIAN, CUSTODIAN SHALL NOT BE UNDER ANY OBLIGATION TO DELIVER
ANY SECURITIES.
ARTICLE VI
SALE AND REDEMPTION OF SHARES
1.
WHENEVER THE CORPORATION SHALL SELL ANY SHARES ISSUED BY THE CORPORATION
("SHARES") IT SHALL DELIVER TO CUSTODIAN A CERTIFICATE OR INSTRUCTIONS
SPECIFYING THE AMOUNT OF MONEY AND/OR SECURITIES TO BE RECEIVED BY CUSTODIAN FOR
THE SALE OF SUCH SHARES AND SPECIFICALLY ALLOCATED