Common use of Direct with Union Bank’s Global Capital Markets Clause in Contracts

Direct with Union Bank’s Global Capital Markets. Principal or Manager may elect to have foreign currency exchanges provided under separate agreement with Union Bank's Global Capital Markets and performed in accordance with Union Bank's Foreign Exchange Agreement. Principal acknowledges that (i) Principal or Manager is not obligated to effect foreign currency exchange with Custodian or Custodian's Domestic Sub-Custodian, (ii) Custodian will make available the relevant data so that Principal or Manager, as the case may be, can independently monitor foreign exchange activities, and (iii) Custodian will receive benefits for such foreign currency transactions as defined in Paragraph 14.2.2 which are in addition to the compensation which Custodian receives for administering the Account.

Direct with Union Bank’s Global Capital Markets. Principal or Manager may elect to have foreign currency exchanges provided under separate agreement with Union BankCustodian's Global Capital Instituional Banking & Markets and performed in accordance with Union BankCustodian's Foreign Exchange Agreement. Principal acknowledges that (i) Principal or Manager is not obligated to effect foreign currency exchange with Custodian or Custodian's Domestic Sub-Custodian, (ii) Custodian will make available the relevant data so that Principal or Manager, as the case may be, can independently monitor foreign exchange activities, and (iii) Custodian will receive benefits for such foreign currency transactions as defined in Paragraph 14.2.2 14.2.2. which are in addition to the compensation which Custodian receives for administering the Account.