Common use of Best Efforts to Invest Clause in Contracts

Best Efforts to Invest. a. Bank will have no liability to Customer for lost income or otherwise if Bank is unable, using its best efforts, to invest the funds in the sweep investments or place orders to redeem sweep because of the unavailability of any sweep investments or otherwise. b. In order to fulfill transfers to Repurchase Agreement sweep investments, Bank may place block orders to purchase and redeem investment grade securities based on estimated needs across all accounts. These securities will then be allocated to specific accounts based upon actual account balances. In some cases the actual purchase and redemption needs of accounts in total may exceed the size of the block orders, in which case the Bank will seek to allocate securities across accounts in a fair and equitable manner. c. The Relationship Sweep allows Customer to earn interest daily on invested balances in its Accounts. The interest rate payable on the Deposit Account investment option is tiered and Customer’s return will be based on the daily collected balance in your Deposit Account sweep. The Deposit Account sweep is a variable rate account and the Bank sets the rates each day. The rate of interest may vary over time.

Best Efforts to Invest. a. Bank will have no liability to Customer for lost income or otherwise if Bank is unable, using its best efforts, to invest the funds in the sweep investments or place orders to redeem sweep because of the unavailability of any sweep investments or otherwise. b. In order to fulfill transfers to Repurchase Agreement sweep investments, Bank may place block orders to purchase and redeem investment grade securities based on estimated needs across all accounts. These securities will then be allocated to specific accounts based upon actual account balances. In some cases cases, the actual purchase and redemption needs of accounts in total may exceed the size of the block orders, in which case the Bank will seek to allocate securities across accounts in a fair and equitable manner. c. The Relationship Sweep allows Customer to earn interest daily on invested balances in its Accounts. The interest rate payable on the Deposit Account investment option is tiered and Customer’s return will be based on the daily collected balance in your Deposit Account sweep. The Deposit Account sweep is a variable rate account and the Bank sets the rates each day. The rate of interest may vary over time.