Common use of Constraints on Third Party Agreements Clause in Contracts

Constraints on Third Party Agreements. (a) With respect to each Portfolio, the Lead Agent or the Governing Board shall use its reasonable efforts to assure that each of the Third Party Agreements entered into by the Fund, pursuant to this Agreement (any other provision thereof to the contrary notwithstanding) provides that: (i) each Third Party Agreement has been made and entered into by the Fund pursuant to the authority of this Agreement and subject to the terms of this Agreement, as the same may be amended from time to time; (ii) the obligations of the Lead Agent or the Governing Board, or the Chief Investment Officer through delegation by the Governing Board under each Third Party Agreement shall be non-recourse against any interest or assets of any Participant other than the Portfolio Assets of the respective Portfolio to which each Third Party Agreement pertains; (iii) if at any time another Participant becomes the Lead Agent under this Agreement, the former Lead Agent shall be deemed to have assigned any Custody Agreement and any Third Party Custodian Agreement to the new Lead Agent, the new Lead Agent shall be deemed to have assumed any Custody Agreement and any Third Party Custodian Agreement and the former Lead Agent shall be released from all further obligations and liabilities as Lead Agent under or in connection with any Custody Agreement and any Third Party Custodian Agreement with respect to the performance thereunder of the Lead Agent. (b) Notwithstanding the provisions of Section 4.3(a), the omission of any provision required pursuant to Section 4.3(a) shall not operate to impose personal liability on any member of the Governing Board, the Chief Investment Officer, the Lead Agent or any Participant. (c) Nothing in this Agreement shall be deemed to (i) constrain or prevent the Lead Agent, the Governing Board or any authorized individual of the Fund from entering in any Third Party Agreement with any entity engaged in the business of providing banking services because of banking relationships such entity shall have with any one or more Participants or (ii) prohibit any such banking entity that is a party to a Third party Agreement from, on a prospective basis, marketing its banking services to any participant or providing any of its banking services to any Participant.

Constraints on Third Party Agreements. (a) With respect to each Portfolio, the Lead Agent or the Governing Board shall use its reasonable efforts to assure that each of the Third Party Agreements entered into by the FundLead Agent or the Governing Board, pursuant to this Agreement (any other provision thereof to the contrary notwithstanding) provides that: (i) each Third Party Agreement has been made and entered into by the Fund Lead Agent or the Governing Board pursuant to the authority of this Agreement and subject to the terms of this Agreement, as the same may be amended from time to time; (ii) the obligations of the Lead Agent or the Governing Board, or the Chief Investment Officer through delegation by the Governing Board under each Third Party Agreement shall be non-recourse against any interest or assets of any Participant other than the Portfolio Assets of the respective Portfolio to which each Third Party Agreement pertains; (iii) if at any time another Participant becomes the Lead Agent under this Agreement, the former Lead Agent shall be deemed to have assigned any Custody Agreement and any Third Party Custodian Agreement to the new Lead Agent, the new Lead Agent shall be deemed to have assumed any Custody Agreement and any Third Party Custodian Agreement and the former Lead Agent shall be released from all further obligations and liabilities as Lead Agent under or in connection with any Custody Agreement and any Third Party Custodian Agreement with respect to the performance thereunder of the Lead Agent. (b) Notwithstanding the provisions of Section 4.3(a), the omission of any provision required pursuant to Section 4.3(a) shall not operate to impose personal liability on any member of the Governing Board, the Chief Investment Officer, the Lead Agent or any Participant. (c) Nothing in this Agreement shall be deemed to (i) constrain or prevent the Lead Agent, Agent or the Governing Board or any authorized individual of the Fund from entering in any Third Party Agreement with any entity engaged in the business of providing banking services because of banking relationships such entity shall have with any one or more Participants or (ii) prohibit any such banking entity that is a party to a Third party Agreement from, on a prospective basis, marketing its banking services to any participant or providing any of its banking services to any Participant.