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Title: |
Mutual Fund Custody Agreement |
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Entities: |
Wachovia Bank, NA; 1838 Bond Debenture Trading Fund |
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Date: |
2003 |
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Size: |
Preview shows 10KB of 102KB total |
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Price: |
$47 |
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ID: |
#178931 |
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MUTUAL FUND CUSTODY AGREEMENT
1838 BOND-DEBENTURE TRADING FUND
WACHOVIA BANK, NATIONAL ASSOCIATION
Table of Contents
Paragraph Page
1. Definitions 1
2. Appointment 3
3. Delivery of Documents 4
4. Delivery and Registration of the Property 4
5. Voting and Other Rights 4
6. Receipt and Disbursement of Money 5
7. Receipt and Delivery of Securities 6
8. Scope of Responsibilities as Foreign Custody Manager 6
9. Eligible Securities Depositories; Compliance with Rule 17f-7 10
10. Foreign Market Transactions 10
11. Pledge or Encumbrance of Securities or Cash 10
12. Segregated Account 10
13. Foreign Exchange 11
14. Lending of Securities 11
15. Overdrafts or Indebtedness 12
16. Use of Domestic Depository or the Book-Entry System 12
17. Instructions Consistent With The Declaration, etc. 14
18. Transactions Not Requiring Instructions 15
19. Transactions Requiring Instructions 17
20. Purchase and Sale of Securities 18
21. Records 20
22. Cooperation with Accountants 20
23. Reports to Fund by Independent Public Accountants 20
24. Confidentiality 20
25. Equipment 21
26. Right to Receive Advice 21
27. Compensation 21
28. Representations 22
29. Performance of Duties and Standard of Care 22
30. Indemnification 23
31. Effective Period; Termination and Amendment 24
32. Successor Custodian 25
33. Notices 25
34. Further Actions 25
-1-
{PAGE}
35. Additional Portfolios 25
36. Miscellaneous 26
ATTACHMENT A Fees
ATTACHMENT B Authorized Persons
ATTACHMENT C Portfolios of the Fund
EXHIBIT A Provision of Additional Information
EXHIBIT B Eligible Securities Depositories
EXHIBIT C List of Foreign Markets
-2-
{PAGE}
MUTUAL FUND CUSTODY AGREEMENT
THIS AGREEMENT is made as of June 20, 2002, by and between 1838
Bond-Debenture Trading Fund, a Delaware Business Trust (the "Fund"), and
WACHOVIA BANK, NATIONAL ASSOCIATION, a National Bank ("Wachovia").
1. Definitions.
"Authorized Person" means the Fund's President, Vice-President,
Treasurer and any other person, whether or not that person is an officer or
employee of the Fund, duly authorized by the Directors or Trustees of the Fund
to give Proper Instructions on behalf of the Fund and listed on Attachment B
hereto, which may be amended from time to time in writing.
"Board" means the board of trustees or board of directors, as
applicable, of the Fund.
"Book-Entry System" shall mean the Federal Reserve/Treasury book-entry
system for United States and federal agency securities, its successor or
successors and its nominee or nominees.
"Business Day" shall mean any day on which Wachovia, the Book-Entry
System, and relevant Depositories are open for business.
"Country Risks" means the systemic risks arising from holding Foreign
Assets in a particular country, including those arising from a country's
financial infrastructure, prevailing custody and settlement practices;
expropriation, nationalization or other governmental actions; and laws
applicable to the safekeeping and recovery of assets held in custody in such
country.
"Depository" shall include the Book-Entry System, the Depository Trust
Company, any other domestic securities depository, book-entry system or clearing
agency registered with the SEC or its successor or successors and its nominee or
nominees, and any other entity permitted to hold Securities under 1940 Act Rule
17f-4, and shall also mean any other registered clearing agency that acts as a
securities depository, its successor or successors, specially identified in a
certified copy of a resolution of the Fund's Directors or Trustees approving
deposits by Wachovia therein. Wachovia shall hold Securities through a
Depository only if (a) the Depository and any of its creditors may not assert
any right, charge, security interest, lien, encumbrance or other claim of any
kind to Securities except a claim of payment for their safe custody or
administration, and (b) beneficial ownership of Securities may be freely
transferred without the payment of money or value other than for safe custody or
administration.
-3-
{PAGE}
"Eligible Foreign Custodian" means an Eligible Foreign Custodian as
defined in Rule 17f-5(a)(1) under the 1940 Act or any other entity that the SEC
qualifies as such by exemptive order, no-action relief, rule or other
appropriate SEC action.
"Eligible Securities Depository" means an Eligible Securities
Depository as defined in section (b)(1) of Rule 17f-7 under the 1940 Act or that
has otherwise been made exempt pursuant to an SEC exemptive order.
"Wachovia " shall include any office, branch or subsidiary of Wachovia
Bank National Association, and shall include any banking or trust institution
which acquires substantially all of the assets of Wachovia Bank National
Association or into which Wachovia Bank National Association is merged or
consolidated.
"Foreign Assets" means any Portfolio's investments (including foreign
currencies) for which the primary market is outside the United States and such
cash and cash equivalents as are reasonably necessary to effect the Portfolio's
transactions in such investments.
"Foreign Custody Manager" means a Foreign Custody Manager as defined in
Rule 17f-5(a)(3) under the 1940 Act.
"Foreign Market" means each market so identified in Exhibit C hereto.
"Portfolio" means each separate series of shares offered by the Fund
representing interests in a separate portfolio of securities and other assets.
"Proper Instructions" shall mean any notices, instructions or other
instruments in writing Wachovia receives from an Authorized Person or from a
person Wachovia reasonably believes to be an Authorized Person by letter, telex,
facsimile transmission, Wachovia's on-line communication system, or any other
method whereby Wachovia is able to verify with a reasonable degree of certainty
the identity of the sender of the communications or the sender is required to
provide a password or other identification code. Oral instructions will be
considered Proper Instructions if Wachovia reasonably believes that an
Authorized Person has given the oral instructions. The Fund shall cause all oral
instructions to be confirmed in writing. Proper Instructions that conflict with
earlier Proper Instructions will supersede earlier Instructions unless Wachovia
has already acted in reliance on the earlier Instructions.
"Property" shall mean any and all Securities, cash, and other property
of the Fund which the Fund may from time to time deposit, or cause to be
deposited, with Wachovia or which Wachovia may from time to time hold for the
Fund; all income of any Securities or other property; all proceeds of the sales
of any Securities or other property; and all proceeds of the sale of securities
issued by the Fund, which Wachovia receives from time to time from or on behalf
of the Fund.
"Rule 17f-5" means ss.270.17(f)-5 under the 1940 Act, as amended from
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