Soft Dollars. The Trustee acknowledges and agrees that, subject to the provisions of Section 28(e) of the Securities Exchange Act of 1934, as amended, and ERISA, the Advisor may effect securities transactions which cause the Account to pay an amount of commission in excess of the amount of commission another broker or dealer would have charged, provided that the Advisor determines in good faith that such amount of commission is reasonable in relation to the value of brokerage and research services provided by the broker or dealer to the Advisor, viewed in terms of either the specific transaction or the Advisor’s overall responsibilities to the accounts for which the Advisor exercises investment discretion. For purposes hereof, the term “research services” shall mean products or services which provide lawful and appropriate assistance to the Advisor’s investment decision-making process. While the Advisor may obtain research services from brokerage commissions charged to the Account that may not directly benefit the Account at that particular time, the Advisor shall endeavor to ensure that, over time, the Account receives the benefit of research services purchased with brokerage commissions charged to the accounts of other clients of the Advisor. The Advisor agrees that the receipt and use of such services will not reduce the Advisor’s customary and normal research activities. The Trustee may require that the Advisor provide it with reports in such form and at such time as may be reasonably required, setting forth the amount of total brokerage business which has been placed by it and the allocation thereof among brokers and dealers and specifically indicating those brokers and dealers which provided research services. The Advisor agrees to follow the CFA Institute Soft Dollar Standards regarding the use and disclosure of soft dollar commissions.
Soft Dollars. The ADVISER may use soft dollars to pay for third party research services relating to CLIENT accounts. To the extent ADVISER uses soft dollars, they will be within the Safe Harbor provision of Section 28(e) of the Securities Exchange Act of 1934, as amended.
Soft Dollars. The Trustee acknowledges and agrees that, subject to the provisions of Section 28(e) of the Securities Exchange Act of 1934, as amended, and ERISA, the Advisor may effect securities transactions which cause the Subaccount to pay an amount of commission in excess of the amount of commission another broker or dealer would have charged, provided that the Advisor determines in good faith that such amount of commission is reasonable in relation to the value of brokerage and research services provided by the broker or dealer to the Advisor, viewed in terms of either the specific transaction or the Advisor’s overall responsibilities to the accounts for which the Advisor exercises investment discretion. For purposes hereof, the term “research services” shall mean products or services which provide lawful and appropriate assistance to the Advisor’s investment decision-making process. While the Advisor may obtain research services from brokerage commissions charged to the Subaccount that may not directly benefit the Subaccount at that particular time, the Advisor shall endeavor to ensure that, over time, the Subaccount receives the benefit of research services purchased with brokerage commissions charged to the accounts of other clients of the Advisor. The Advisor agrees that the receipt and use of such services will not reduce the Advisor’s customary and normal research activities. The Advisor agrees to follow the FSA’s Conduct of Business rules on Use of Dealing Commission (COBS 11.6 of the FSA Handbook).
Soft Dollars. All "soft dollars" (whether in the form of ------------ free airline tickets, free airline upgrade certificates, credit cards paid for by airlines or airline override revenue converted to the Company's "soft dollar" accounts, or other similar arrangements) allocated to the Company from airlines and other vendors of the Company, or that may be awarded to the Company in connection with the Company's business, shall be used only for the Company's legitimate business purposes and not for the personal benefit or use of the Shareholder (or his family or friends) or any of the Company's other employees. Notwithstanding the above, the Shareholder may continue to be eligible for travel benefits set forth in SCHEDULE 5.9.
Soft Dollars. Research or investment-management-related services and equipment may be provided by brokers through which portfolio transactions are executed, settled and cleared. This may include research reports on particular industries and companies, economic surveys and analyses, recommendations as to specific securities, on-line quotations, news and research services and other services (e.g., computer and telecommunications equipment) providing lawful and appropriate assistance to the Trading Advisor in the performance of its investment decision-making responsibilities (collectively, “soft dollars” or “soft dollar items”).
Soft Dollars. Soft dollars are credits or other perks brokerages offer in return for a certain level of business. Federal Statute provides a “safe harbor” for using “soft dollars” to purchase research and brokerage products offered by brokerages, whether used for the Client or other Accounts; it does not protect nor preclude other uses of “soft dollars.” Brokerages offer many related services that can be paid for with “soft dollars.” The brokerage may charge higher commissions than a purely transactional provider. However, using many of the incentive products and services provided by a brokerage can save the Investment Management Company significant cash outlays and absolute costs. The conflicts come into play in that there can be multiple beneficiaries to the incentive products and services, one of which may or may not be the Client, depending on the products and services chosen by the Investment Management Company. Some of the conflicts that may arise:
(a) To the extent that the Investment Management Company may have to or choose to select one client over another for a particular transaction;
(b) To the extent a brokerage firm provides to the Investment Management Company, services, equipment and the like for which either would normally pay cash out-of-pocket;
(c) To meet the level of business required to qualify for certain broker-provided services to be provided the Investment Management Company, the Investment Management Company may engage the Client’s Account in more transactions than it would otherwise;
(d) To acquire certain broker-provided services beneficial to only one of the Investment Management Company’s clients, the Investment Management Company may agree to a price for services higher than would otherwise be considered in executing a transaction; and
(e) To the extent the Investment Management Company desire to execute transactions limiting the participation of restricted persons, certain clients may be at a disadvantage. As noted in this provision, standards and practices in the investment industry are such that brokerage firms frequently provide ancillary services to their customers, particularly in return for executing a high volume of transaction business through their brokerage firm. These brokerage firms often charge higher prices (as opposed to firms only charging transaction costs), but the services they are able to provide, such as high quality research (due to economies of scale), could easily be more costly if purchased individually on the ope...
Soft Dollars. All "soft dollars" (whether in the form of free ------------ airline tickets, free airline upgrade certificates, credit cards paid for by airline or airline override revenue converted to the Company's or any of its subsidiaries' "soft dollar" accounts, or other similar arrangements) available to the Company or any of its subsidiaries from airlines and other vendors of the Company or any of its subsidiaries, or that may be awarded to the Company or any of its subsidiaries in connection with the Company's or any of its subsidiaries' business, shall be used only for the Company's or any of its subsidiaries' legitimate business purposes and not for the personal benefit or use of the Interestholders (or their family or friends) or any of the Company's or any of its subsidiaries' other employees.
Soft Dollars. Consistent with seeking to obtain best execution, transactions for Client’s Account may be directed to brokers in return for research services furnished to Adviser. Such research generally will be used to service all of Adviser’s clients and not just Client’s Account, so that commissions (or per share mark‐ups or mark‐downs) paid by Client would be used to pay for research used for the benefit of many clients of Oak Ridge. Adviser may, in its discretion, cause the Account to pay brokers a commission (or per share mark‐up or mark‐down) greater than another qualified broker might charge to effect the same transaction where Adviser determines in good faith that the commission is reasonable in relation to the value of the brokerage and research services received.
Soft Dollars. In selecting brokers or dealers to execute transactions, the Investment Manager will use soft dollars. The Investment Manager need not solicit competitive bids and does not have an obligation to seek the lowest available brokerage commissions, xxxx-ups or other compensation (collectively, “Commissions”). It is not the Investment Manager’s practice to negotiate “execution only” Commissions; thus, the Fund may be deemed to be paying for research and other services provided by the broker or brokers which are included in the Commissions. Research and related services furnished by brokers will be limited to services that constitute research and brokerage services within the meaning of Section 28(e) of the Exchange Act (“Section 28(e)”). Accordingly, research and related services may include, but are not limited to, written information and analyses concerning specific securities, companies or sectors; market, financial and economic studies and forecasts, as well as invitations to attend conferences, meetings or discussions with management teams, security analysts, industry consultants and economists; financial or industry publications; statistical and pricing services, along with hardware, software, data bases and other technical, technological and telecommunication services, lines and equipment utilized in the investment management process, including any updates, upgrades, modifications, maintenance, repairs, replacements, modernizations or improvements thereof. Soft dollar items may be provided directly by brokers and dealers, by third parties at the direction of brokers or purchased on behalf of the Fund with credits or rebates provided by brokers. If “soft dollars” are generated by virtue of the activities of the Fund, the Investment Manager shall be permitted to use such “soft dollars” to pay for soft dollar items used by any of the Affiliated Funds, thereby benefitting the investors in such Affiliated Funds over the Limited Partners of the Fund, who would have indirectly paid for such “soft dollars.” Investors in Affiliated Funds may include fund-of-funds affiliated with brokers or, possibly, brokerage firms themselves. The fact that any such investors have invested in the Affiliated Funds will not be taken into consideration in selecting brokers (including prime brokers) for the Fund. With respect to brokerage and research services obtained by the use of Commissions that also assist the Investment Manager in performing other functions that do not provide ...
Soft Dollars. The Sub-Adviser may from time to time use soft dollars in the course of its business as it relates to the Fund. In conjunction with the quarterly compliance certification, the Sub-Adviser must complete a soft dollar report reflecting the broker, commission amount, services provided, and year-to-date soft dollar commission amounts for all transactions applicable to the Fund. The Sub-Adviser must demonstrate that the Fund’s soft-dollar payments were properly allocated to the Fund’s account.
