Common use of Aggregated Orders Clause in Contracts

Aggregated Orders. If Adviser decides to purchase or sell the same securities for Client and other of Adviser’s clients at about the same time, Adviser may combine the order for Client with orders for other clients to allow Adviser to negotiate better prices or lower commission rates and other transaction charges than Adviser might obtain for an order for Client alone. Adviser may allocate securities so purchased or sold, as well as the expenses incurred in the transaction, in the manner that Adviser considers to be equitable and consistent with Adviser’s fiduciary obligations to Client and Adviser’s other clients.