Common use of Banking Laws Clause in Contracts

Banking Laws. (a) If You are a Bank, You represent and warrant that, with respect to any and all transactions in Shares of the Fund pursuant to this Agreement, it is understood and agreed in each case that unless otherwise agreed to by us in writing: (i) You shall be acting solely as agent for the account of Your customer; (ii) each transaction shall be initiated solely upon the order of Your customer; (iii) We shall execute transactions only upon receiving instructions from You acting as agent for Your customer; (iv) as between You and Your customer, Your customer will have full beneficial ownership of all Shares; (v) each transaction shall be for the account of Your customer and not for Your account; (vi) each order will comply with the applicable terms and conditions governing the placement of orders as set forth in the Prospectus including restrictions on frequent trading, imposition of redemption fees and maintenance of account balance minimums; and (vii) You are legally permitted to receive all compensation contemplated by this Agreement and, if acting as a fiduciary, the receipt of such compensation is consistent with Your fiduciary obligations. (b) If You are a Bank or distributing through a Bank affiliate, You or the affiliate represent and warrant that You or the affiliate are: (i) not in violation of any banking law, rule or regulations as to which You are subject and that the transactions contemplated by this Agreement will not result in any violations of any banking law, rule or regulation, and (ii) exempt from registration under the 1934 Act as a broker-dealer and will continue to be exempt from registration as long as this Agreement is in effect. You agree to notify us immediately in the event that You are no longer exempt from registration under the 1934 Act as a broker-dealer. We shall have the right to terminate this Agreement immediately upon receipt of information that You are no longer exempt from registration under the 1934 Act as a broker-dealer. (c) You further represent and warrant to us that You will use Your best efforts to ensure that any purchase of Shares by Your customers constitutes a suitable investment for such customers.

Banking Laws. (a) If You you are a Bank, You you represent and warrant that, with respect to any and all transactions in Shares shares of the Fund Funds pursuant to this Agreement, it is understood and agreed in each case that unless otherwise agreed to by us in writing: (i) You you shall be acting solely as agent for the account of Your your customer; (ii) each transaction shall be initiated solely upon the order of Your your customer; (iii) We we shall execute transactions only upon receiving instructions from You you acting as agent for Your your customer; (iv) as between You you and Your your customer, Your your customer will have full beneficial ownership of all Sharesshares of the Funds; (v) each transaction shall be for the account of Your your customer and not for Your your account; (vi) each order will comply with the applicable terms and conditions governing the placement of orders as set forth in the Prospectus applicable then-current prospectus and statement of additional information (hereafter, the “Prospectus”) including restrictions on frequent trading, imposition of redemption fees and maintenance of account balance minimums; and (vii) You you are legally permitted to receive all compensation contemplated by this Agreement and, if acting as a fiduciary, the receipt of such compensation is consistent with Your your fiduciary obligations. (b) If You you are a Bank or distributing through a Bank affiliate, You you or the affiliate represent and warrant that You you or the affiliate are: (i) not in violation of any banking law, rule or regulations as to which You you are subject and that the transactions contemplated by this Agreement will not result in any violations of any banking law, rule or regulation, and (ii) exempt from registration under the 1934 Act as a broker-dealer and will continue to be exempt from registration as long as this Agreement is in effect. You agree to notify us immediately in the event that You you are no longer exempt from registration under the 1934 Act as a broker-dealer. We shall have the right to terminate this Agreement immediately upon receipt of information that You you are no longer exempt from registration under the 1934 Act as a broker-dealer. (c) You further represent and warrant to us that You you will use Your your best efforts to ensure that any purchase of Shares by Your shares of the Funds by, or on behalf of, your customers constitutes a suitable investment for such customers.

Banking Laws. (a) If You you are a Bank, You you represent and warrant that, with respect to any and all transactions in Shares shares of the Fund Funds pursuant to this Agreement, it is understood and agreed in each case that unless otherwise agreed to by us in writing: (i) You you shall be acting solely as agent for the account of Your your customer; (ii) each transaction shall be initiated solely upon the order of Your your customer; (iii) We we shall execute transactions only upon receiving instructions from You you acting as agent for Your your customer; (iv) as between You you and Your your customer, Your your customer will have full beneficial ownership of all Sharesshares of the Funds; (v) each transaction shall be for the account of Your your customer and not for Your your account; (vi) each order will comply with the applicable terms and conditions governing the placement of orders as set forth in the Prospectus including restrictions on frequent trading, imposition of redemption fees and maintenance of account balance minimums; and (vii) You you are legally permitted to receive all compensation contemplated by this Agreement and, if acting as a fiduciary, the receipt of such compensation is consistent with Your your fiduciary obligations. (b) If You you are a Bank or distributing through a Bank affiliate, You you or the affiliate represent and warrant that You you or the affiliate are: (i) not in violation of any banking law, rule or regulations as to which You you are subject and that the transactions contemplated by this Agreement will not result in any violations of any banking law, rule or regulation, and (ii) exempt from registration under the 1934 Act as a broker-dealer and will continue to be exempt from registration as long as this Agreement is in effect. You agree to notify us immediately in the event that You you are no longer exempt from registration under the 1934 Act as a broker-dealer. We shall have the right to terminate this Agreement immediately upon receipt of information that You you are no longer exempt from registration under the 1934 Act as a broker-dealer. (c) You further represent and warrant to us that You you will use Your your best efforts to ensure that any purchase of Shares by Your shares of the Funds by, or on behalf of, your customers constitutes a suitable investment for such customers.

Banking Laws. (a) If You are a Bank, You represent and warrant that, with respect to any and all transactions in Shares of the Fund Funds pursuant to this Agreement, it is understood and agreed in each case that unless otherwise agreed to by us in writing: (i) You shall be acting solely as agent for the account of Your customer; (ii) each transaction shall be initiated solely upon the order of Your customer; (iii) We shall execute transactions only upon receiving instructions from You acting as agent for Your customer; (iv) as between You and Your customer, Your customer will have full beneficial ownership of all Shares; (v) each transaction shall be for the account of Your customer and not for Your account; (vi) each order will comply with the applicable terms and conditions governing the placement of orders as set forth in the Prospectus including restrictions on frequent trading, imposition of redemption fees and maintenance of account balance minimums; and (vii) You are legally permitted to receive all compensation contemplated by this Agreement and, if acting as a fiduciary, the receipt of such compensation is consistent with Your fiduciary obligations. (b) If You are a Bank or distributing through a Bank affiliate, You or the affiliate represent and warrant that You or the affiliate are: (i) not in violation of any banking law, rule or regulations as to which You are subject and that the transactions contemplated by this Agreement will not result in any violations of any banking law, rule or regulation, and (ii) exempt from registration under the 1934 Act as a broker-dealer and will continue to be exempt from registration as long as this Agreement is in effect. You agree to notify us immediately in the event that You are no longer exempt from registration under the 1934 Act as a broker-dealer. We shall have the right to terminate this Agreement immediately upon receipt of information that You are no longer exempt from registration under the 1934 Act as a broker-dealer. (c) You further represent and warrant to us that You will use Your best efforts to ensure that any purchase of Shares by Your customers constitutes a suitable investment for such customers.