Collateral Investment Direction. The Fund hereby authorizes and directs BBH&CO to cause to be invested, on the Fund's behalf and at the Fund's sole risk, all Collateral in the form of cash by effecting purchase and sales and/or subscriptions and redemptions of such Collateral in any Permitted Investment set forth on Schedule 5 hereto (which may from time to time be updated in writing by the Fund). BBH&CO shall, where applicable, send timely instructions to the transfer agent of the Permitted Investment with respect to any cash transfers required to be completed in conjunction with any subscription or redemption in a Permitted Investment.
Collateral Investment Direction. Each Participating Fund hereby authorizes and directs Lending Agent to cause to be invested, on the Participating Fund's behalf and at the Participating Fund's sole risk, all Collateral in the form of cash, including money received with respect to the investment of the same, by effecting purchases and sales and/or subscriptions and redemptions of such Collateral in any Permitted Investment set forth on Schedule 4 hereto (which may from time to time be updated in writing by Adviser). Upon receipt of instructions (which may be in the form of a standing instruction) from Adviser, Lending Agent shall, where applicable, send timely instructions to the transfer agent of a Permitted Investment with respect to any cash transfers required to be completed in conjunction with any subscription or redemption in one or more Permitted Investments.
Collateral Investment Direction. The Fund hereby authorizes and directs BBH&Co. to cause to be invested, on the Fund's behalf and at the Fund's sole risk, all Collateral in the form of cash by effecting purchase and sales and/or subscriptions and redemptions of such Collateral in any Permitted Investments set forth on Schedule 5 hereto (which may from time to time be updated in writing by the Fund). Upon receipt of instructions (which may be in the form of a standing instruction) from the Fund, BBH&Co. shall, where applicable, send timely instructions to the transfer agent of a Permitted Investment with respect to any cash transfers required to be completed in conjunction with any subscription or redemption in one or more Permitted Investments.
Collateral Investment Direction. The Fund hereby authorizes and directs BBH&Co. to cause to be invested, on the Fund’s behalf and at the Fund’s sole risk, all or substantially all Collateral in the form of cash by effecting purchase and sales and/or subscriptions and redemptions of such Collateral in any Permitted Investment set forth on Schedule 5 hereto. Upon receipt of instructions (which may be in the form of a standing instruction) from the Fund, BBH&Co. shall, where applicable, send timely instructions to the transfer agent of a Permitted Investment with respect to any cash transfers required to be completed in conjunction with any subscription or redemption in one or more Permitted Investments. BBH&Co. may, in its sole discretion, liquidate any Permitted Investment and credit the net proceeds to a Collateral Account.
Collateral Investment Direction. The Fund hereby authorizes and directs BBH&Co. to cause to be invested, on the Fund's behalf and at the Fund's sole risk, all Collateral in the form of cash by effecting purchase and sales and/or subscriptions and redemptions of such Collateral in any Permitted Investment. BBH&Co. shall, where applicable, send timely instructions to the transfer agent of the Permitted Investment with respect to any cash transfers required to be completed in conjunction with any subscription or redemption in a Permitted Investment.
Collateral Investment Direction. The Fund hereby authorizes and directs BBH&Co. to cause to be invested, on the Fund's behalf and at the Fund's sole risk, all or substantially all Collateral in the form of cash by effecting purchases and sales and/or subscriptions and redemptions of such Collateral in any Permitted Investment set forth on Schedule 5 hereto. Upon receipt of instructions (which may be in the form of a standing instruction) from the Fund, BBH&Co. shall, where applicable, send timely instructions to the transfer agent of a Permitted Investment with respect to any cash transfers required to be completed in conjunction with any subscription or redemption in one or more Permitted Investments. To the extent necessary, as determined by BBH&Co. in its reasonable discretion, to return Collateral to an Approved Borrower, BBH&Co. may liquidate any Permitted Investment and credit the net proceeds to the Custody Account or a Collateral Account.
Collateral Investment Direction. The Fund authorizes and directs QA LLC, subject to oversight by the Adviser, to cause to be invested, on the Fund's behalf and at the Fund's sole risk, all Cash Collateral by effecting purchase and sales and/or subscriptions and redemptions of such Collateral in any Permitted Investment set forth on Schedule 4 hereto (which may from time to time be amended in writing by the Fund). QA LLC shall, where applicable, send timely instructions to the transfer agent of the Permitted Investment with respect to any cash transfers required to be completed in conjunction with any subscription or redemption in a Permitted Investment, and cause the Adviser and the Custodian to be notified of such investment. To facilitate QA LLC's ability to effect investments of Cash Collateral authorized by this Agreement, the Fund appoints QA LLC as its true and lawful attorney-in-fact, with full power of substitution and revocation, in its name, place and stead to take action in the Fund's name to the extent necessary or desirable to fulfill the purposes of this Agreement, including, without limitation, (i) to establish trading accounts in a Fund's name, (ii) to execute and deliver such contracts and other documents on a Fund's behalf as QA LLC, in its discretion, deems necessary or desirable to establish such trading accounts or otherwise to effect investments on the Fund's behalf that are authorized by this Agreement, and (iii) to act, in QA LLC's discretion, in the Fund's name to enforce the Fund's rights and remedies under such contracts or documents.
