Common use of FX TRANSACTIONS Clause in Contracts

FX TRANSACTIONS. To the extent that the Client issues any Instruction, including a standing Instruction, for the Custodian to enter into foreign exchange transactions,, a report summarizing the terms of such foreign exchange transactions, including trade and settlement dates, the amounts and currencies exchanged and the exchange rates applied and any fees, charges, costs or commissions charged by any party to such foreign exchange transaction shall be made available to the Client. Included in the Fee Schedule, the Custodian has provided the Client with a schedule (the “FX Pricing”) specifying foreign exchange (“FX”) spreads over Citi benchmarks in connection with FX transactions effected through the Custodian’s AutoFX service and standing instructions. The Custodian represents that upon Instructions the Custodian will execute FX transactions on behalf of the Client at the spreads specified for each type of currency as specified in the Fee Schedule. For currencies not identified on the Fee Schedule, the rates will be on a negotiated basis at the time of any such FX transaction. The FX Pricing may be amended from time to time by mutual agreement. If the Custodian proposes a modification to a spread to reflect increased volatility and agreement cannot be reached on such modification, the Custodian reserves the right to remove the related currency from the Fee Schedule and cease providing benchmark pricing for the related currency, moving to pricing on a negotiated basis at the time of any such FX transaction. The Custodian may decline to act on any Instruction for FX or to effect any FX transactions without regard to the specified rate on the Fee Schedule due to the requirements of applicable law with regard to the FX transaction, applicable market regulations or directives of applicable market authorities, market restrictions or market conditions; provided, however, the Custodian shall give the Client prior notice where practicable.

FX TRANSACTIONS. To the extent that the Client issues any Instruction, including a standing Instruction, for the Custodian to enter into foreign exchange transactions,, a report summarizing the terms of such foreign exchange transactions, including trade and settlement dates, the amounts and currencies exchanged and the exchange rates applied and any fees, charges, costs or commissions charged by any party to such foreign exchange transaction shall be made available to the Client. Included in the Fee Schedule, the Custodian has provided the Client with a schedule (the “FX Pricing”) specifying foreign exchange (“FX”) spreads over Citi benchmarks in connection with FX transactions effected through the Custodian’s AutoFX service and standing instructions. The Custodian represents that upon Instructions the Custodian will execute FX transactions on behalf of the Client at the spreads specified for each type of currency as specified in the Fee Schedule. For currencies not identified on the Fee Schedule, the rates will be on a negotiated basis at the time of any such FX transaction. The FX Pricing may be amended from time to time by mutual agreement. If the Custodian proposes a modification to a spread to reflect increased volatility and agreement cannot be reached on such modification, the Custodian reserves the right to remove the related currency from the Fee Schedule and cease providing benchmark pricing for the related currency, moving to pricing on a negotiated basis at the time of any such FX transaction. The Custodian may decline to act on any Instruction for FX or to effect any FX transactions without regard to the specified rate on the Fee Schedule due to the requirements of applicable law with regard to the FX transaction, applicable market regulations or directives of applicable market authorities, market restrictions or market conditions; provided, however, the Custodian shall give the Client prior notice where practicable.. 1940 ACT GCSA 2013 NY - V.06.14.2011- (Neg JXXX HXXXXXX FUNDS, FEBRUARY 28, 2014)