Common use of Selection of Brokers and Dealers Clause in Contracts

Selection of Brokers and Dealers. Except to the extent otherwise instructed in writing by Client, (it being understood that Client, acting on behalf of the Fund, may , in its absolute discretion and consistent with the requirements of the 1940 Act and other applicable law and rules, direct Fund portfolio transactions for which Subadviser is responsible to any broker-dealer that Client may see fit provided that such direction is consistent with best execution described below), Subadviser shall place all orders for the purchase or sale of securities on behalf of the Account with brokers or dealers selected by Subadviser, but not with an Affiliate of Subadviser, unless the transaction is in compliance with Rules 17e-1 or 10f-3 under the 1940 Act, or other applicable rules, and with the Fund's policies and procedures thereunder, copies of which shall be provided to Subadviser.