Common use of Representation as a Trustee or Fiduciary Clause in Contracts

Representation as a Trustee or Fiduciary. If you are a trustee or other fiduciary, you represent that: (1) you are a fiduciary and have a duty to use the services provided through the Program for the benefit of its beneficiaries and not for you personally; (2) the trust agreement or relevant governing document for the assets to be invested in the Program Account authorizes you to (a) invest in the securities comprising the Models, (b) pay the Program Fee from the Program Account, and (c) permit you to delegate investment management of the assets in the Program Account to a third party; (3) the payment of the Program Fee has been determined to be proper and permissible under the relevant governing instrument of any plan or trust and under applicable law, and is reasonable in relation to the services provided under this Agreement; and (4) you have made an independent determination that participation in this Program is suitable and appropriate, despite the fact that: (a) the Program Fee will be charged regardless of the level of trading activity in the Program Account; and (b) the custodial, clearing and execution services offered through the Program may be available for less money if you paid commissions on a per-trade basis. You agree to notify Primerica promptly of any event that might affect your authority or the validity of this Agreement.

Representation as a Trustee or Fiduciary. If you are a trustee or other fiduciaryfiduciary with respect to the assets held, or to be held, in the Account, you represent and warrant to PBSI that: (1) you are such a fiduciary and have a duty to use the services provided through the Program Account for the benefit of its the Account’s beneficiaries and not for you personally; (2) the trust agreement or relevant governing document for the assets invested, or to be invested invested, in the Program Account authorizes you to (a) invest open the Account for the purposes of enrolling in the securities comprising Program (or maintaining the ModelsNon-Program Account), and (b) pay the Program Fee from fees associated with the Program AccountAccount (and Program, and (c) permit you to delegate investment management of the assets as specified in the Program Account to a third partydocumentation); (3) the payment of the Account and Program Fee fees has been determined to be proper and permissible under the relevant governing instrument of any plan or trust and under governing applicable law, and is reasonable in relation to the services provided under this AgreementAgreement (including, consideration of the services provided under the Program); and (4) you have made an independent determination determined that participation opening the Account for purposes of participating in this the Program (or otherwise) is suitable and appropriate, despite the fact that: (a) as the Program Fee is structured as a so-called wrap fee program, asset based fees will apply and be charged regardless of the level of trading activity in the Program Account; and (b) the custodial, clearing and execution services offered through the Program may be available for less money if you paid commissions on a per-trade basis. You agree to notify Primerica promptly of any event that might affect your authority or the validity of this Agreement.and

Representation as a Trustee or Fiduciary. If you are a trustee or other fiduciary, you represent that: (1) you are a fiduciary and have a duty to use the services provided through the Program for the benefit of its beneficiaries and not for you personally; (2) the trust agreement or relevant governing document for the assets to be invested in the Program Account authorizes you to (a) invest in the securities comprising the Models, (b) pay the Program Fee from the Program Account, and (c) permit you to delegate investment management of the assets in the Program Account to a third party; (3) the payment of the Program Fee has been determined to be proper and permissible under the relevant governing instrument of any plan or trust and under applicable law, and is reasonable in relation to the services provided under this Agreement; and (4) you have made an independent determination that participation in this Program is suitable and appropriate, despite the fact that: (a) the Program Fee will be charged regardless of the level of trading activity in the Program Account; and (b) the custodial, clearing and execution services offered through the Program may be available for less money if you paid commissions on a per-trade basis. You agree to notify Primerica promptly of any event that might affect your authority or the validity of this Agreement.