Common use of Approval by Participant Clause in Contracts

Approval by Participant. Advisor agrees that all Securities acquired for Participant’s Individual Account shall be: (i) approved in advance of purchase or sale by an authorized representative of Participant identified in Section 2; (ii) purchased or sold directly from or to primary dealers in the relevant Securities or from the issuers of such Securities or, except in the case of the purchase or sale of a Certificate of Deposit (“CD”), through such brokers as Participant may approve in advance; and

Approval by Participant. Advisor agrees that all Securities acquired for Participant’s Individual Account shall be: (i) approved in advance of purchase or sale by an authorized representative of Participant identified in Section 22 above; (ii) purchased or sold directly from or to primary dealers in the relevant Securities or from the issuers of such Securities or, except in the case of the purchase or sale of a Certificate of Deposit (“CD”), through such brokers as Participant may approve in advance; andand (iii) Securities which are permitted investments for Participant as specified in Section 3, above.

Approval by Participant. Advisor agrees that all Securities acquired for Participant’s Individual Account shall be: (i) approved in advance of purchase or sale by an authorized representative of Participant identified in Section 2, above; (ii) purchased or sold directly from or to primary dealers in the relevant Securities or from the issuers of such Securities or, except in the case of the purchase or sale of a Certificate of Deposit (“CD”), through such brokers as Participant may approve in advance; andand (iii) Securities which are permitted investments for Participant as specified in Section 3 above.