Collateral Manager to Other Transactions. The Issuer acknowledges and agrees that the Collateral Manager and/or its Affiliates may act as the collateral manager, asset manager or other similar capacity of other collateralized loan obligation or asset-backed securities vehicles that have similar investment objectives, policies and restrictions as the Issuer. The Issuer agrees that if a determination is made that the Issuer and another client of the Collateral Manager and/or any Affiliate should trade in the same debt obligations on the same day, the Collateral Manager shall allocate such debt obligations between the Issuer and other accounts in a manner that the Collateral Manager and/or its Affiliates determine is fair and equitable over time and in accordance with their internal conflict of interest and allocation policies and applicable law. Additionally, the Collateral Manager and/or an Affiliate may at certain times be seeking simultaneously to purchase or dispose of investments for their respective accounts, the Issuer, any similar entity for which it serves as manager or advisor and for its clients or Affiliates. The Issuer agrees that, in such circumstances, the Collateral Manager and/or the Affiliate may recommend activities that compete with or otherwise adversely affect the Issuer.
