Common use of SCOPE AND OBJECTIVE Clause in Contracts

SCOPE AND OBJECTIVE. It is the obligation of Michigan CLASS to cause funds of its participants to be invested in a manner which complies with the Investment criteria contained in the Participation Agreement. Those investment criteria apply to all assets considered Investment Property under the Participation Agreement and specify the objectives of the program related to safety, liquidity, and yield (return on investment). The investments will be diversified by security type and institution in an effort to minimize risk and exposure. Concentration of investments will depend on market conditions, availability in terms of desired maturities, collateral, creditworthiness, and market yields among other things.

SCOPE AND OBJECTIVE. It is the obligation of Michigan CLASS to cause funds of its participants to be invested in a manner which complies with the Investment criteria contained in the Participation Agreement. Those investment criteria apply to all assets considered Investment Property under the Participation Agreement and specify the objectives of the program related to safety, liquidity, liquidity and yield (return on investment). The investments will be diversified by security type and institution in an effort order to minimize risk and exposure. Concentration of investments will depend depend, among other factors, on market conditions, on availability in terms of desired maturities, collateral, creditworthiness, collateral and creditworthiness and on market yields among other thingsyields.

SCOPE AND OBJECTIVE. It is the obligation of Michigan CLASS to cause funds of its participants to be invested in a manner which complies with the Investment criteria contained in the Participation Agreement. Those investment criteria apply to all assets considered Investment Property investment property under the Participation Agreement and specify the objectives of the program related to safety, liquidity, and yield (return on investment). The investments will be diversified by security type and institution in an effort to minimize risk and exposure. Concentration of investments will depend on market conditions, availability in terms of desired maturities, collateral, creditworthiness, and market yields among other things.