Common use of Manager’s Duties and Powers Clause in Contracts

Manager’s Duties and Powers. 5.1 The Manager shall at his own discretion and without the need to obtain any authorization and/ or approval by the Client, provide Discretionary Portfolio Management Services to the Client in relation to the Account and the Assets held therein with the scope of achieving the targets subject to the terms of the Strategy agreed, from time to time, with the Client; 5.2 The Manager shall use reasonable efforts and his professional knowledge and experience to increase the value of the Account pursuant to the Strategy; 5.3 All actions of the Manager in relation to the Account shall be in accordance with the stated investment objectives and restrictions, as may be stipulated hereunder and further detailed in writing by the Client in the relevant Schedule forming the Strategy; 5.4 All transactions in investments shall be subject to the general rules of the relevant exchange or other markets where the transactions are executed and to the codes and all other applicable laws, including the regulations of any governmental or quasigovernmental agency (“Market Requirements”) so that: (i) in the event of any conflict between the terms and conditions of this Agreement and any market requirements, the market requirements shall prevail; (ii) the Manager shall be entitled to take such action or steps or omit to take any action or steps as it shall in its absolute discretion consider necessary to ensure compliance with the market requirements, including taking of any action to avoid or mitigate any loss arising as a result of a change in the market requirements; and (iii) all of the market requirements and any such action or step so taken by the Manager as a consequence of such requirement shall be binding upon the Client as if expressly set out herein or authorized hereby.

Manager’s Duties and Powers. 5.1 The Manager shall at his own discretion and without the need to obtain any authorization authorisation and/ or approval by the Client, provide Discretionary Portfolio Management Services to the Client in relation to the Account and the Assets held therein with the scope of achieving the targets subject to the terms of the Strategy agreed, from time to time, with the Client; 5.2 The Manager shall use reasonable efforts and his professional knowledge and experience to increase the value of the Account pursuant to the Strategy; 5.3 All actions of the Manager in relation to the Account shall be in accordance with the stated investment objectives and restrictions, as may be stipulated hereunder and further detailed in writing by the Client in the relevant Schedule forming the Strategy; 5.4 All transactions in investments shall be subject to the general rules of the relevant exchange or other markets where the transactions are executed and to the codes and all other applicable laws, including the regulations of any governmental or quasigovernmental quasi-governmental agency (“Market Requirements”) so that: (i) in the event of any conflict between the terms and conditions of this Agreement and any market requirements, the market requirements shall prevail; (ii) the Manager shall be entitled to take such action or steps or omit to take any action or steps as it shall in its absolute discretion consider necessary to ensure compliance with the market requirements, including taking of any action to avoid or mitigate any loss arising as a result of a change in the market requirements; and (iii) all of the market requirements and any such action or step so taken by the Manager as a consequence of such requirement shall be binding upon the Client as if expressly set out herein or authorized authorised hereby.