Common use of Russia Clause in Contracts

Russia. (i) Chase will advise the Fund (and will update such advice from time to time as changes occur) of those Russian Registrar Companies with which CMBI has entered into a Registrar Contract. Chase shall cause CMBI to monitor each Russian Registrar Company and to promptly advise the Fund when CMBI has actual knowledge of the occurrence of any one or more of the events described in paragraphs (i)-(v) on pages 8-9 of the No-Action Letter with respect to a Russian Registrar Company that serves in that capacity for any issuer the shares of which are held by the Fund. (ii) Where the Fund is considering investing on behalf of the Fund in the Local Russian Securities of an issuer as to which CMBI does not have a Registrar Contract with the issuer's Russian Registrar Company, the Fund may request that CMBI consider whether it would be willing to attempt to enter into such a Registrar Contract and CMBI shall advise the Fund of its willingness to do so. Where CMBI has agreed to make such an attempt, Chase will advise the Fund of the occurrence of any one or more of the events described in paragraphs (i)-(iv) on pages 8-9 of the No-Action Letter of which CMBI has actual knowledge. (iii) Where the Fund is considering investing on behalf of the Fund in the Local Russian Securities of an issuer as to which CMBI has a Registrar Contract with the issuer's Russian Registrar Company, the Fund may advise Chase of its interest in investing in such issuer and, in such event, Chase will endeavour to, so far as reasonably practicable advise the Fund of the occurrence of any one or more of the events described in paragraphs (i)-(v) on pages 8 and 9 of the No-Action Letter of which CMBI has actual knowledge. B. The Fund shall pay for and hold Chase and CMBI harmless from any liability or loss resulting from the imposition or assessment of any taxes (including but not limited to state, stamp and other duties) or other governmental charges, and any related expenses incurred by Chase, CMBI or their respective agents with respect to income on that Fund's Local Russian Securities. C. The Fund acknowledges and agrees that CMBI may not be able, in given cases and despite its reasonable efforts, to obtain a Share Extract from a Russian Registrar Company and CMBI shall not be liable in any such event including with respect to any losses resulting from such failure. For the avoidance of doubt, this Clause shall not limit Chase's liability for breach of its obligations under Clause 2C above. D. Subject to the co-operation of a Russian Registrar Company for at least the first two years following CMBI's first use of such Russian Registrar Company, Chase shall cause CMBI to conduct share confirmations on at least a quarterly basis, although thereafter confirmations may be conducted on a less frequent basis if the Fund, in consultation with CMBI, determines it to be appropriate. X. Xxxxx shall cause CMBI to prepare for distribution to the Fund a quarterly report identifying: (i) any concerns it has regarding the Local Russian share registration system that should be brought to the attention of the Fund and (ii) the steps CMBI has taken during the reporting period to ensure that the Fund's interests continue to be appropriately recorded. F. The services to be provided by Chase hereunder will be provided only in relation to Local Russian Securities for which CMBI has entered into a Registrar Contract with the relevant Russian Registrar Company. X. Xxxxx shall be entitled to disclose any information relating to the Fund or the Local Russian Securities and/or cash held for the Fund as is required by any law, court, legal process, or banking or other regulatory or examining authorities (whether governmental or otherwise). H. The Fund acknowledges that it has received, reviewed and understands the Chase market report for Russia, including, but not limited to, the risks described therein. The Fund recognises that these risks currently are inherent in investments in Local Russian Securities and that they should be assessed by the Fund as an element of the Fund's decision that it is appropriate for the Fund to invest in Local Russian Securities. Chase is not responsible for the Fund's decision that it is appropriate for the Fund to hold Local Russian Securities despite the custodial risks associated with the Russian market. Chase will promptly provide the Fund with updated market reports in accordance with Chase's normal practice.

Russia. (i) Chase will advise the Fund (and will update such advice from time to time as changes occur) of those Russian Registrar Companies with which CMBI has entered into a Registrar Contract. Chase shall cause CMBI to monitor each Russian Registrar Company and to promptly advise the Fund when CMBI has actual knowledge of the occurrence of any one or more of the events described in paragraphs (i)-(v) on pages 8-9 of the No-Action Letter with respect to a Russian Registrar Company that serves in that capacity for any issuer the shares of which are held by the Fund. (ii) Where the Fund is considering investing on behalf of the Fund in the Local Russian Securities of an issuer as to which CMBI does not have a Registrar Contract with the issuer's Russian Registrar Company, the a Fund may request that CMBI consider whether it would be willing to attempt to enter into such a Registrar Contract and CMBI shall advise the Fund of its willingness to do so. Where CMBI has agreed to make such an attempt, Chase will advise the Fund of the occurrence of any one or more of the events described in paragraphs (i)-(iv) on pages 8-9 of the No-Action Letter of which CMBI has actual knowledge. (iii) Where the Fund is considering investing on behalf of the Fund in the Local Russian Securities of an issuer as to which CMBI has a Registrar Contract with the issuer's Russian Registrar Company, the Fund may advise Chase of its interest in investing in such issuer and, in such event, Chase will endeavour to, so far as reasonably practicable advise the Fund of the occurrence of any one or more of the events described in paragraphs (i)-(v) on pages 8 and 9 of the No-Action Letter of which CMBI has actual knowledge. B. The Fund shall pay for and hold Chase and CMBI harmless from any liability or loss resulting from the imposition or assessment of any taxes (including but not limited to state, stamp and other duties) or other governmental charges, and any related expenses incurred by Chase, CMBI or their respective agents with respect to income on that Fund's Local Russian Securities. C. The Fund acknowledges and agrees that CMBI may not be able, in given cases and despite its reasonable efforts, to obtain a Share Extract from a Russian Registrar Company and CMBI shall not be liable in any such event including with respect to any losses resulting from such failure. For the avoidance of doubt, this Clause shall not limit Chase's liability for breach of its obligations under Clause 2C above. D. Subject to the co-operation of a Russian Registrar Company for at least the first two years following CMBI's first use of such Russian Registrar Company, Chase shall cause CMBI to conduct share confirmations on at least a quarterly basis, although thereafter confirmations may be conducted on a less frequent basis if the Fund, in consultation with CMBI, determines it to be appropriate. X. Xxxxx shall cause CMBI to prepare for distribution to the Fund a quarterly report identifying: (i) any concerns it has regarding the Local Russian share registration system that should be brought to the attention of the Fund and (ii) the steps CMBI has taken during the reporting period to ensure that the Fund's interests continue to be appropriately recorded. F. The services to be provided by Chase hereunder will be provided only in relation to Local Russian Securities for which CMBI has entered into a Registrar Contract with the relevant Russian Registrar Company. X. Xxxxx shall be entitled to disclose any information relating to the Fund or the Local Russian Securities and/or cash held for the Fund as is required by any law, court, legal process, or banking or other regulatory or examining authorities (whether governmental or otherwise). H. The Fund acknowledges that it has received, reviewed and understands the Chase market report for Russia, including, but not limited to, the risks described therein. The Fund recognises that these risks currently are inherent in investments in Local Russian Securities and that they should be assessed by the Fund as an element of the Fund's decision that it is appropriate for the Fund to invest in Local Russian Securities. Chase is not responsible for the Fund's decision that it is appropriate for the Fund to hold Local Russian Securities despite the custodial risks associated with the Russian market. Chase will promptly provide the Fund with updated market reports in accordance with Chase's normal practice.