Common use of Scope of Discretion Clause in Contracts

Scope of Discretion. Client authorizes Chelsea to exercise complete and total discretion in the investment of the Assets in the Account. In this connection, Client authorizes Chelsea, as agent, to buy, to sell, and to trade Assets in the Account, in accordance with the terms and conditions of this Agreement. Client further grants Chelsea the discretionary authority to select, oversee, and replace third-party investment advisers (“Sub-Advisers”) to manage all or a portion of Client Assets.