Common use of Prohibited Customers Clause in Contracts

Prohibited Customers. The Transfer Agent will take all reasonable and practicable steps to ensure that it does not accept or maintain investments in any Fund, either directly or indirectly, from the following types of prohibited investors (collectively, "Prohibited Investors"): 1) A person or entity whose name appears on: (i) the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control ("OFAC") and any other prohibited lists determined by such office; (ii) such other lists of prohibited persons and entities as may be mandated by applicable U.S. law or regulation; or (iii) such other lists of prohibited persons and entities as may be provided to the Transfer Agent by the Trust; 2) A foreign shell bank (i.e., a bank with no physical presence in any country) ("Foreign Shell Bank"); 3) An offshore bank (i.e., a non-U.S. bank that is permitted to conduct banking activities pursuant to a license issued by a foreign jurisdiction that as a condition of the license, prohibits the licensed entity from conducting banking activity with the citizens or in the currency of the jurisdiction that issued the license) ("Offshore Bank") 4) A person or entity resident in, or whose subscription funds originate from, a country or territory that appears on a list maintained by the Financial Action Task Force on Money Laundering ("Non-Cooperative Jurisdiction"); or 5) A person or entity who gives the Transfer Agent reason to believe that its subscription funds originate from, or are routed through, an account maintained at a Foreign Shell Bank, an offshore bank, or a bank organized or chartered under the laws of a Non-Cooperative Jurisdiction.

Prohibited Customers. The Transfer Agent will take all reasonable and practicable steps to ensure that it does not accept or maintain investments in any Fund, either directly or indirectly, from the following types of prohibited investors (collectively, "“Prohibited Investors"”): 1) A person or entity whose name appears on: (i) the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control ("“OFAC"”) and any other prohibited lists determined by such office; (ii) such other lists of prohibited persons and entities as may be mandated by applicable U.S. law or regulation; or (iii) such other lists of prohibited persons and entities as may be provided to the Transfer Agent by the Trust; 2) A foreign shell bank (i.e., a bank with no physical presence in any country) ("“Foreign Shell Bank"”); 3) An offshore bank (i.e., a non-U.S. bank that is permitted to conduct banking activities pursuant to a license issued by a foreign jurisdiction that as a condition of the license, prohibits the licensed entity from conducting banking activity with the citizens or in the currency of the jurisdiction that issued the license) ("“Offshore Bank"”) 4) A person or entity resident in, or whose subscription funds originate from, a country or territory that appears on a list maintained by the Financial Action Task Force on Money Laundering ("“Non-Cooperative Jurisdiction"”); or 5) A person or entity who gives the Transfer Agent reason to believe that its subscription funds originate from, or are routed through, an account maintained at a Foreign Shell Bank, an offshore bank, or a bank organized or chartered under the laws of a Non-Cooperative Jurisdiction.

Prohibited Customers. The Transfer Agent will take all reasonable and practicable steps to ensure that it does not accept or maintain investments in any Fund, either directly or indirectly, from the following types of prohibited investors (collectively, "“Prohibited Investors"”): 1) A person or entity whose name appears on: (i) the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control ("“OFAC"”) and any other prohibited lists determined by such office; (ii) such other lists of prohibited persons and entities as may be mandated by applicable U.S. law or regulation; or (iii) such other lists of prohibited persons and entities as may be provided to the Transfer Agent by the a Trust; 2) A foreign shell bank (i.e., a bank with no physical presence in any country) ("“Foreign Shell Bank"”); 3) An offshore bank (i.e., a non-U.S. bank that is permitted to conduct banking activities pursuant to a license issued by a foreign jurisdiction that as a condition of the license, prohibits the licensed entity from conducting banking activity with the citizens or in the currency of the jurisdiction that issued the license) ("“Offshore Bank"”) 4) A person or entity resident in, or whose subscription funds originate from, a country or territory that appears on a list maintained by the Financial Action Task Force on Money Laundering ("“Non-Cooperative Jurisdiction"”); or 5) A person or entity who gives the Transfer Agent reason to believe that its subscription funds originate from, or are routed through, an account maintained at a Foreign Shell Bank, an offshore bank, or a bank organized or chartered under the laws of a Non-Cooperative Jurisdiction.

Prohibited Customers. The Transfer Agent will take all reasonable and practicable steps to ensure that it does not accept or maintain investments in any Fund, either directly or indirectly, from the following types of prohibited investors (collectively, "Prohibited Investors"): 1) A person or entity whose name appears on: (i) the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control ("OFAC") and any other prohibited lists determined by such office; (ii) such other lists of prohibited persons and entities as may be mandated by applicable U.S. law or regulation; or (iii) such other lists of prohibited persons and entities as may be provided to the Transfer Agent by the Trust; 2) A foreign shell bank (i.e., a bank with no physical presence in any country) ("Foreign Shell Bank"); 3) An offshore bank (i.e., a non-U.S. bank that is permitted to conduct banking activities pursuant to a license issued by a foreign jurisdiction that as a condition of the license, prohibits the licensed entity from conducting banking activity with the citizens or in the currency of the jurisdiction that issued the license) ("Offshore Bank") 4) A person or entity resident in, or whose subscription funds originate from, a country or territory that appears on a list maintained by the Financial Action Task Force on Money Laundering ("Non-Cooperative Jurisdiction"); or 5) A person or entity who gives the Transfer Agent reason to believe that its subscription funds originate from, or are routed through, an account maintained at a Foreign Shell Bank, an offshore bank, or a bank organized or chartered under the laws of a Non-Cooperative Jurisdiction.at

Prohibited Customers. The Transfer Agent will take all reasonable and practicable steps to ensure that it does not accept or maintain investments in any Fund, either directly or indirectly, from the following types of prohibited investors (collectively, "Prohibited Investors"): 1) A person or entity whose name appears on: (i) the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control ("OFAC") and any other prohibited lists determined by such office; (ii) such other lists of prohibited persons and entities as may be mandated by applicable U.S. law or regulation; or (iii) such other lists of prohibited persons and entities as may be provided to the Transfer Agent by the Trust; 2) A foreign shell bank (i.e., a bank with no physical presence in any country) ("Foreign Shell Bank"); 3) An offshore bank (i.e., a non-U.S. bank that is permitted to conduct banking activities pursuant to a license issued by a foreign jurisdiction that as a condition of the license, prohibits the licensed entity from conducting banking activity with the citizens or in the currency of the jurisdiction that issued the license) ("Offshore Bank"); 4) A person or entity resident in, or whose subscription funds originate from, a country or territory that appears on a list maintained by the Financial Action Task Force on Money Laundering ("Non-Cooperative Jurisdiction"); or 5) A person or entity who gives the Transfer Agent reason to believe that its subscription funds originate from, or are routed through, an account maintained at a Foreign Shell Bank, an offshore bank, or a bank organized or chartered under the laws of a Non-Cooperative Jurisdiction.