Common use of Collateral Investment Direction Clause in Contracts

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.