Common use of Retail MMFs Clause in Contracts

Retail MMFs. (i) To the extent a MMF operates as a Retail MMF, Financial Intermediary agrees that, with respect to any shares of the Retail Fund purchased or held by or on behalf of its customers: (1) it has adopted and implemented policies, procedures and internal controls reasonably designed to limit all beneficial owners of such Retail MMF shares to natural persons (as such term is used or interpreted by the SEC or its staff), (2) it has taken commercially reasonable efforts to ensure that all current and future beneficial owners of such Retail MMF shares are natural persons, and (3) it will promptly redeem any such Retail MMF shares of customers who do not qualify as natural persons.

Retail MMFs. (ia) To the extent a MMF operates as a Retail MMF, Financial Intermediary agrees that, with respect to any shares of the Retail Fund purchased or held by or on behalf of its customers,: (1) it has adopted and implemented policies, procedures and internal controls reasonably designed to limit all beneficial owners of such Retail MMF shares to natural persons (as such term is used or interpreted by the SEC or its staff), (2) it has taken commercially reasonable efforts to ensure that all current and future beneficial owners of such Retail MMF shares are natural persons, and (3) it will promptly redeem any such Retail MMF shares of customers who do not qualify as natural persons.

Retail MMFs. (i) To the extent a MMF operates as a Retail MMF, Financial Intermediary agrees that, with respect to any shares of the Retail Fund purchased or held by or on behalf of its customers,: (1) it has adopted and implemented policies, procedures and internal controls reasonably designed to limit all beneficial owners of such Retail MMF shares to natural persons (as such term is used or interpreted by the SEC or its staff), (2) it has taken commercially reasonable efforts to ensure that all current and future beneficial owners of such Retail MMF shares are natural persons, and (3) it will promptly redeem any such Retail MMF shares of customers who do not qualify as natural persons.

Retail MMFs. (i) To the extent a MMF operates as a Retail MMF, Financial Intermediary agrees thatagrees, with respect to any shares of the Retail Fund purchased or held by or on behalf of its customers,: (1) it has adopted and implemented policies, procedures and internal controls reasonably designed to limit all beneficial owners of such Retail MMF shares to natural persons (as such term is used or interpreted by the SEC or its staff), (2) it has taken commercially reasonable efforts to ensure that all current and future beneficial owners of such Retail MMF shares are natural persons, and (3) it will promptly redeem any such Retail MMF shares of customers who do not qualify as natural persons.

Retail MMFs. (ia) To the extent a an MMF operates intends to operate as a Retail MMF, Financial Intermediary agrees thatthat on or before August 24, 2016, with respect to any shares of the Retail Fund purchased purchased, or held by or on behalf of its customers: , it will (1i) it has adopted adopt and implemented implement policies, procedures and internal controls reasonably designed to limit all beneficial owners of such Retail MMF shares to natural persons (as such term is used or interpreted by the SEC or its staff), (2ii) it has taken take commercially reasonable efforts to ensure that all current and future beneficial owners of such Retail MMF shares are natural persons, and (3iii) it will promptly redeem any such Retail MMF shares of customers who do not qualify as natural persons.