Common use of FUND ACKNOWLEDGEMENT Clause in Contracts

FUND ACKNOWLEDGEMENT. Each Fund acknowledges that in connection with all foreign exchange transactions entered into by the Fund (or its Sponsor acting on its behalf) with SSGM or any sub-custodian, SSGM and each such sub-custodian: (i) shall be acting in a principal capacity and not as broker, agent or fiduciary to the Fund or its Sponsor; (ii) shall seek to profit from such foreign exchange transactions, and are entitled to retain and not disclose any such profit to the Fund or its Sponsor; and (iii) shall enter into such foreign exchange transactions pursuant to the terms and conditions, including pricing or pricing methodology, (a) agreed with the Fund or its Sponsor from time to time or (b) in the case of an indirect foreign exchange service, (i) as established by SSGM and set forth in the Client Publications with respect to the particular foreign exchange execution services selected by the Fund or the Sponsor or (ii) as established by the sub-custodian from time to time.

FUND ACKNOWLEDGEMENT. Each The Fund acknowledges that in connection with all foreign exchange transactions entered into by the Fund (or its Sponsor acting on its behalf) with SSGM or any sub-custodian, SSGM and each such sub-custodian: (i) shall be acting in a principal capacity and not as broker, agent or fiduciary to the Fund or its Sponsor; (ii) shall seek to profit from such foreign exchange transactions, and are entitled to retain and not disclose any such profit to the Fund or its Sponsor; and (iii) shall enter into such foreign exchange transactions pursuant to the terms and conditions, including pricing or pricing methodology, (a) agreed with the Fund or its Sponsor from time to time or (b) in the case of an indirect foreign exchange service, (i) as established by SSGM and set forth in the Client Publications with respect to the particular foreign exchange execution services selected by the Fund or the Sponsor or (ii) as established by the sub-custodian from time to time.

FUND ACKNOWLEDGEMENT. Each The Fund acknowledges that in connection with all foreign exchange transactions entered into by the Fund (or its Sponsor investment adviser acting on its behalf) with SSGM or any sub-custodian, SSGM and each such sub-custodian: (i1) shall be acting in a principal capacity and not as broker, agent or fiduciary to the Fund or its Sponsorinvestment adviser; (ii2) shall seek to profit from such foreign exchange transactions, and are entitled to retain and not disclose any such profit to the Fund or its Sponsorinvestment adviser; and (iii3) shall enter into such foreign exchange transactions pursuant to the terms and conditions, including pricing or pricing methodology, (a) agreed with the Fund or its Sponsor investment adviser from time to time or (b) in the case of an indirect foreign exchange service, (i) as established by SSGM and set forth in the Client Publications with respect to the particular foreign exchange execution services selected by the Fund or the Sponsor investment adviser or (ii) as established by the sub-custodian from time to time.

FUND ACKNOWLEDGEMENT. Each The Fund acknowledges that in connection with all foreign exchange transactions entered into by the Fund (or its Sponsor Investment Manager acting on its behalf) with SSGM or any sub-custodiansubcustodian, SSGM and each such sub-custodiansubcustodian: (i) shall be acting in a principal capacity and not as broker, agent or fiduciary to the Fund or its SponsorInvestment Manager; (ii) shall seek to profit from such foreign exchange transactions, and are entitled to retain and not disclose any such profit to the Fund or its SponsorInvestment Manager; and (iii) shall enter into such foreign exchange transactions pursuant to the terms and conditions, including pricing or pricing methodology, (a) agreed with the Fund or its Sponsor Investment Manager from time to time or (b) in the case of an indirect foreign exchange service, service (i) as established by SSGM and set forth in the Client Customer Publications with respect to the particular foreign exchange execution services selected by the Fund or the Sponsor Investment Manager or (ii) as established by the sub-custodian subcustodian from time to time.