Common use of Brokerage Accounts Clause in Contracts

Brokerage Accounts. THE ADVISOR AUTHORIZES AND EMPOWERS THE SUBADVISOR TO DIRECT THE FUND'S CUSTODIAN TO OPEN AND MAINTAIN BROKERAGE ACCOUNTS FOR SECURITIES AND OTHER PROPERTY, INCLUDING FINANCIAL AND COMMODITY FUTURES AND COMMODITIES AND OPTIONS THEREON (ALL SUCH ACCOUNTS HEREINAFTER CALLED "BROKERAGE ACCOUNTS") FOR AND IN THE NAME OF THE FUND AND TO EXECUTE FOR THE FUND AS ITS AGENT AND ATTORNEY-IN-FACT STANDARD CUSTOMER AGREEMENTS WITH SUCH BROKER OR BROKERS AS THE SUBADVISOR SHALL SELECT AS PROVIDED ABOVE. THE SUBADVISOR MAY, USING SUCH OF THE SECURITIES AND OTHER PROPERTY IN THE FUND AS THE SUBADVISOR DEEMS NECESSARY OR DESIRABLE, DIRECT THE FUND'S CUSTODIAN TO DEPOSIT FOR THE FUND ORIGINAL AND MAINTENANCE BROKERAGE AND MARGIN DEPOSITS AND OTHERWISE DIRECT PAYMENTS OF CASH, CASH EQUIVALENTS AND SECURITIES AND OTHER PROPERTY INTO SUCH BROKERAGE ACCOUNTS AND TO SUCH BROKERS AS THE SUBADVISOR DEEMS DESIRABLE OR APPROPRIATE.

Brokerage Accounts. THE ADVISOR AUTHORIZES AND EMPOWERS THE SUBADVISOR TO DIRECT THE FUND'S CUSTODIAN TO OPEN AND MAINTAIN BROKERAGE ACCOUNTS FOR SECURITIES AND OTHER PROPERTY, INCLUDING FINANCIAL AND COMMODITY FUTURES AND COMMODITIES AND OPTIONS THEREON (ALL SUCH ACCOUNTS HEREINAFTER CALLED "BROKERAGE ACCOUNTS") FOR AND IN THE NAME OF THE FUND AND TO EXECUTE FOR THE FUND AS ITS AGENT AND ATTORNEY-IN-FACT STANDARD CUSTOMER AGREEMENTS WITH SUCH BROKER OR BROKERS AS THE SUBADVISOR SHALL SELECT AS PROVIDED ABOVE. THE SUBADVISOR MAY, USING SUCH OF THE SECURITIES AND OTHER PROPERTY IN THE FUND AS THE SUBADVISOR DEEMS NECESSARY OR DESIRABLE, DIRECT THE FUND'S CUSTODIAN TO DEPOSIT FOR THE FUND ORIGINAL AND MAINTENANCE BROKERAGE AND MARGIN DEPOSITS AND OTHERWISE DIRECT PAYMENTS OF CASH, CASH EQUIVALENTS AND SECURITIES AND OTHER PROPERTY INTO SUCH BROKERAGE ACCOUNTS AND TO SUCH BROKERS AS THE SUBADVISOR DEEMS DESIRABLE OR APPROPRIATE. (G) SOCIAL SCREENING. THE ADVISOR IS RESPONSIBLE FOR SCREENING THOSE INVESTMENTS OF THE FUND SUBJECT TO SOCIAL SCREENING ("SECURITIES") TO DETERMINE THAT THE SECURITIES INVESTMENTS MEET THE FUND'S SOCIAL INVESTMENT CRITERIA, AS MAY BE AMENDED FROM TIME TO TIME BY THE TRUSTEES AND FOR NOTIFYING THE SUBADVISOR OF ITS DETERMINATION. THE SUBADVISOR WILL BUY ONLY THOSE SECURITIES PERMITTED BY THE FUND'S INVESTMENT PROGRAM WHICH THE ADVISOR DETERMINES PASS THE FUND'S SOCIAL SCREENS AND OF WHICH THE ADVISOR HAS NOTIFIED THE SUBADVISOR. IN THE EVENT THAT THE ADVISOR NOTIFIES THE SUBADVISOR THAT A SECURITY ALREADY IN THE FUND'S PORTFOLIO NO LONGER PASSES THE FUND'S SOCIAL SCREEN, THE ADVISOR SHALL INSTRUCT THE SUBADVISOR WHETHER THE SUBADVISOR SHOULD DISPOSE OF THE SECURITY IMMEDIATELY OR AT SUCH TIME AS THE SUBADVISOR BELIEVES WOULD BE LEAST DETRIMENTAL TO THE FUND. TO THE EXTENT INSTRUCTED BY THE ADVISOR, THE SUBADVISOR SHALL HAVE NO LIABILITY FOR THE DISPOSITION OF ANY SECURITIES UNDER THIS PARAGRAPH. WITH RESPECT TO THIS PARAGRAPH, THE FORM OF NOTIFICATION SHALL BE MUTUALLY AGREED UPON BY THE PARTIES.