Common use of Receipt of Disclosure Statement Clause in Contracts

Receipt of Disclosure Statement. Client hereby acknowledges receipt of Adviser’s Disclosure Statement as required pursuant to Rule 204-3 (17 CFR 275.204-3) under the Adviser’s Act prior to or within 48 hours of the date (shown below) of the Client’s signing of this agreement. Client will have the option to terminate this agreement in its entirety exercisable at Client’s sole option, and without penalty, for five days from the date of the Client’s signing of this agreement; provided, however, that any investment action taken by the Adviser with respect to the Portfolios during such five day period in reliance upon this agreement and prior to receipt of actual notice of the Client’s exercise of this right of termination, will be at the sole risk of the Client.

Receipt of Disclosure Statement. Client hereby acknowledges shall acknowledge on the Additional Client Information— Schedule B attached hereto receipt of Adviser’s Disclosure Statement as required pursuant to Rule 204-204- 3 (17 CFR 275.204-3) under the Adviser’s Act prior to or within 48 hours of the date (shown below) of the Client’s signing of this agreement. Client will have the option to terminate this agreement in its entirety exercisable at Client’s sole option, and without penalty, for five days from the date of the Client’s signing of this agreement; provided, however, that any investment action taken by the Adviser with respect to the Portfolios during such five day period in reliance upon this agreement and prior to receipt of actual notice of the Client’s exercise of this right of termination, will be at the sole risk of the Client.