Common use of Investment of Cash Clause in Contracts

Investment of Cash. Cash received by Bank in connection with reverse repurchase agreement transactions hereunder shall be held by Bank separate and apart from Bank's own funds and securities. The amount of the Purchase Price or any amount with respect to a Margin Excess (as such terms are defined in the Master Repurchase Agreements) transferred to Bank by any Buyer at any time may be an amount calculated to meet the obligations of such Buyer in respect of any or all sales to Buyer by Principal and any one or more other clients of Bank, whether entered into pursuant to the same reverse repurchase agreement transaction or Master Repurchase Agreement, and may be an amount calculated net of amounts of the Repurchase Price (as such term is defined in the Master Repurchase Agreement) required at the time to be delivered by Principal and any one or more such other clients to such Buyer pursuant to any such Master Repurchase Agreements. In addition, the amount of the Repurchase Price or any amount with respect to a Margin Deficit (as such term is defined in the Master Repurchase Agreement) transferred by Bank to any Buyer at any time may be an amount calculated to meet the obligations of Principal and any one or more other clients of Bank to such Buyer in respect of any or all sales to such Buyer, whether entered into pursuant to the same Master Repurchase Agreement or more than one such agreement, and may be an amount calculated net of amounts of the Purchase Price required at the time to be delivered by such Buyer to Principal or one or more such other clients pursuant to any such Master Repurchase Agreements. Bank shall in good faith allocate or reallocate (including without limitation in respect of any payment of any Repurchase Price to any Buyer) any Purchase Price and any amount with respect to a Margin Excess held by it or received by it from any Buyer among Principal and Bank's clients and in respect of any or all of such reverse repurchase agreement transactions in such manner and on such bases as Bank in its discretion may from time to time determine, and shall be fully indemnified by Principal with respect to such allocations and reallocations. As a result of the foregoing, the nature or amount of the Purchase Price and any amount with respect to a Margin Excess credited to the account of Principal in respect of any Buyer or any reverse repurchase agreement transaction or transactions will vary and may be different from or less than the nature or amount of the Purchase Price and any amount with respect to a Margin Excess which might have been held by it or credited to its account if it had entered into such reverse repurchase transaction or transactions directly with such Buyer or if Bank had entered into such reverse repurchase agreement transaction with such Buyer as agent solely for Principal. Bank may in its discretion invest and reinvest cash received by Bank on behalf of Principal in connection with reverse repurchase agreement transactions for the benefit of and at the risk of Principal in investments specified in Exhibit D, as it may be amended from time to time, including without limitation in any way, I1ighMark Funds for which Bank provides investment advice, custody and other administrative services. Principal acknowledges that Bank shall receive fees from 11ighMark Funds in addition to the fees earned under this Addendum. Bank may invest any or all of such cash in any one or more of such investments, including such HighMark Funds, on any basis Bank determines appropriate. Bank shall be entitled to pay or retain from any amounts held by Bank for Principal's account from time to time in respect of any reverse repurchase agreement transaction (i) the Repurchase Price, any amount necessary to correct a Margin Deficit, and other sums required to be paid in accordance with a Master Repurchase Agreement, a ' nd (ii) Bank's compensation and other amounts incurred by it or owed to it in respect of its services with respect to reverse repurchase agreement transactions hereunder.

Investment of Cash. Cash received by Bank in connection with reverse repurchase agreement transactions hereunder shall be held by Bank separate and apart from Bank's own funds and securities. The amount of the Purchase Price or any amount with respect to a Margin Excess (as such terms are defined in the Master Repurchase Agreements) transferred to Bank by any Buyer at any time may be an amount calculated to meet the obligations of such Buyer in respect of any or all sales to Buyer by Principal and any one or more other clients of Bank, whether entered into pursuant to the same reverse repurchase agreement transaction or Master Repurchase Agreementagreement, and may be an amount calculated net of amounts of the Repurchase Price (as such term is defined in the Master Repurchase AgreementAgreements) required at the time to be delivered by Principal and any one or more such other clients to such Buyer pursuant to any such Master Repurchase Agreements. In addition, the amount of the Repurchase Price or any amount with respect to a Margin Deficit (as such term is defined in the Master Repurchase Agreement) transferred by Bank to any Buyer at any time may be an amount calculated to meet the obligations of Principal and any one or more other clients of Bank to such Buyer in respect of any or all sales to such Buyer, whether entered into pursuant to the same Master Repurchase Agreement or more than one such agreement, and may be an amount calculated net of amounts of the Purchase Price required at the time to be delivered by such Buyer to Principal or one or more such other clients pursuant to any such Master Repurchase Agreements. Bank shall in good faith allocate or reallocate (including without limitation in respect of any payment of any Repurchase Price to any Buyer) any Purchase Price and any amount with respect to a Margin Excess held by it or received by it from any Buyer among Principal and Bank's clients and in respect of any or all of such reverse repurchase agreement transactions in such manner and on such bases as Bank in its discretion may from time to time determine, and shall be fully indemnified by Principal with respect to such allocations and reallocationsprotected in doing so. As a result of the foregoing, the nature or amount of the Purchase Price and any amount with respect to a Margin Excess credited to the account of Principal in respect of any Buyer or any reverse repurchase agreement transaction or transactions will vary and may be different from or less than the nature or amount of the Purchase Price and any amount with respect to a Margin Excess which might have been held by it or credited to its account if it had entered into such reverse repurchase transaction or transactions directly with such Buyer or if Bank had entered into such reverse repurchase agreement transaction with such Buyer as agent solely for Principal. Bank may in its discretion invest and reinvest cash received by Bank on behalf of Principal in connection with reverse repurchase agreement transactions for the benefit of and at the risk of Principal in investments specified in Exhibit D, as it may be amended from time to time, including without limitation in any way, I1ighMark The HighMark Group of Funds for which Bank provides investment advice, custody and other administrative services. Principal acknowledges that Bank shall receive fees from 11ighMark The HighMark Group of Funds in addition to the fees earned under this AddendumAgreement. Bank may invest any or all of such cash in any one or more of such investments, including such HighMark Funds, on any basis Bank determines appropriate. Bank shall be entitled to pay or retain from any amounts held by Bank for Principal's account from time to time in respect of any reverse repurchase agreement transaction (i) the Repurchase Price, any amount necessary to correct a Margin Deficit, and other sums required to be paid in accordance with a the Master Repurchase Agreement, a ' nd and (ii) Bank's compensation and other amounts incurred by it or owed to it in respect of its services with respect to reverse repurchase agreement transactions hereunder.

Investment of Cash. Cash received by Bank in connection with reverse repurchase agreement transactions hereunder shall be held by Bank separate and apart from Bank's own funds and securities. The amount of the Purchase Price or any amount with respect to a Margin Excess (as such terms are defined in the Master Repurchase Agreements) transferred to Bank by any Buyer at any time may be an amount calculated to meet the obligations of such Buyer in respect of any or all sales to Buyer by Principal and any one or more other clients of Bank, whether entered into pursuant to the same reverse repurchase agreement transaction or Master Repurchase Agreementagreement, and may be an amount calculated net of amounts of the Repurchase Price (as such term is defined in the Master Repurchase AgreementAgreements) required at the time to be delivered by Principal and any one or more such other clients to such Buyer pursuant to any such Master Repurchase Agreements. In addition, the amount of the Repurchase Price or any amount with respect to a Margin Deficit (as such term is defined in the Master Repurchase Agreement) transferred by Bank to any Buyer at any time may be an amount calculated to meet the obligations of Principal and any one or more other clients of Bank to such Buyer in respect of any or all sales to such Buyer, whether entered into pursuant to the same Master Repurchase Agreement or more than one such agreement, and may be an amount calculated net of amounts of the Purchase Price required at the time to be delivered by such Buyer to Principal or one or more such other clients pursuant to any such Master Repurchase Agreements. Bank shall in good faith allocate or reallocate (including without limitation in respect of any payment of any Repurchase Price to any Buyer) any Purchase Price and any amount with respect to a Margin Excess held by it or received by it from any Buyer among Principal and Bank's clients and in respect of any or all of such reverse repurchase agreement transactions in such manner and on such bases as Bank in its discretion may from time to time determine, and shall be fully indemnified by Principal with respect to such allocations and reallocationsprotected in doing so. As a result of the foregoing, the nature or amount of the Purchase Price and any amount with respect to a Margin Excess credited to the account of Principal in respect of any Buyer or any reverse repurchase agreement transaction or transactions will vary and may be different from or less than the nature or amount of the Purchase Price and any amount with respect to a Margin Excess which might have been held by it or credited to its account if it had entered into such reverse repurchase transaction or transactions directly with such Buyer or if Bank had entered into such reverse repurchase agreement transaction with such Buyer as agent solely for Principal. Bank may in its discretion invest and reinvest cash received by Bank on behalf of Principal in connection with reverse repurchase agreement transactions for the benefit of and at the risk of Principal in investments specified in Exhibit D, as it may be amended from time to time, including without limitation in any way, I1ighMark Funds for which Bank provides investment advice, custody and other administrative services. Principal acknowledges that Bank shall receive fees from 11ighMark Funds in addition to the fees earned under this Addendum. ... Bank may invest any or all of such cash in any one or more of such investments, including such HighMark Funds, investments on any basis Bank determines appropriate. Bank shall be entitled to pay or retain from any amounts held by Bank for Principal's account from time to time in respect of any reverse repurchase agreement transaction (i) the Repurchase Price, any amount necessary to correct a Margin Deficit, and other sums required to be paid in accordance with a the Master Repurchase Agreement, a ' nd and (ii) Bank's compensation and other amounts incurred by it or owed to it in respect of its services with respect to reverse repurchase agreement transactions hereunder.

Investment of Cash. Cash received by Bank in connection with reverse repurchase agreement transactions hereunder shall be held by Bank separate and apart from Bank's own funds and securities. The amount of the Purchase Price or any amount with respect to a Margin Excess (as such terms are defined in the Master Repurchase Agreements) transferred to Bank by any Buyer at any time may be an amount calculated to meet the obligations of such Buyer in respect of any or all sales to Buyer by Principal and any one or more other clients of Bank, whether entered into pursuant to the same reverse repurchase agreement transaction or Master Repurchase Agreementagreement, and may be an amount calculated net of amounts of the Repurchase Price (as such term is defined in the Master Repurchase AgreementAgreements) required at the time to be delivered by Principal and any one or more such other clients to such Buyer pursuant to any such Master Repurchase Agreements. In addition, the amount of the Repurchase Price or any amount with respect to a Margin Deficit (as such term is defined in the Master Repurchase Agreement) transferred by Bank to any Buyer at any time may be an amount calculated to meet the obligations of Principal and any one or more other clients of Bank to such Buyer in respect of any or all sales to such Buyer, whether entered into pursuant to the same Master Repurchase Agreement or more than one such agreement, and may be an amount calculated net of amounts of the Purchase Price required at the time to be delivered by such Buyer to Principal or one or more such other clients pursuant to any such Master Repurchase Agreements. Bank shall in good faith allocate or reallocate (including without limitation in respect of any payment of any Repurchase Price to any Buyer) any Purchase Price and any amount with respect to a Margin Excess held by it or received by it from any Buyer among Principal and Bank's clients and in respect of any or all of such reverse repurchase agreement transactions in such manner and on such bases as Bank in its discretion may from time to time determine, and shall be fully indemnified by Principal with respect to such allocations and reallocationsprotected in doing so. As a result of the foregoing, the nature or amount of the Purchase Price and any amount with respect to a Margin Excess credited to the account of Principal in respect of any Buyer or any reverse repurchase agreement transaction or transactions will vary and may be different from or less than the nature or amount of the Purchase Price and any amount with respect to a Margin Excess which might have been held by it or credited to its account if it had entered into such reverse repurchase transaction or transactions directly with such Buyer or if Bank had entered into such reverse repurchase agreement transaction loan or loans with such Buyer as agent solely for PrincipalPrincipal in no event, however, shall any allocation and reallocation be permitted to give rise to the Margin Amount (as defined in the Master Repurchase Agreement) being less than 100% of the Market Value of the Purchased Securities (as defined in the Master Repurchase Agreement) on any particular Repurchase Agreement transaction. Bank may in its discretion invest and reinvest cash received by Bank on behalf of Principal in connection with reverse repurchase agreement transactions for the benefit of and at the risk of Principal in investments specified in Exhibit D, as it may be amended from time to time, including without limitation in any way, I1ighMark The HighMark Group@ of Funds for which Bank provides investment advice, custody and other administrative services. Principal acknowledges that Bank shall receive fees from 11ighMark The HighMark Group of Funds in addition to the fees earned under this AddendumAgreement. Bank may invest any or all of such cash in any one or more of such investments, including such HighMark Funds, on any basis Bank determines appropriate. Bank shall be entitled to pay or retain from any amounts held by Bank for Principal's account from time to time in respect of any reverse repurchase agreement transaction (i) the Repurchase Price, any amount necessary to correct a Margin Deficit, and other sums required to be paid in accordance with a the Master Repurchase Agreement, a ' nd and (ii) Bank's compensation and other amounts incurred by it or owed to it in respect of its services with respect to reverse repurchase agreement transactions hereunder.