Common use of SSB Borrower Clause in Contracts

SSB Borrower. The Lender authorizes the Bank to effect loans of Securities with any person on the Securities Lending Agrmt 3 July 2012 Approved Borrowers Schedule, including, without limitation, State Street Bank and Trust Company and any affiliate thereof (each acting in the capacity of a Borrower, hereafter also referred to as an “SSB Borrower”). The Lender acknowledges that it is aware that the Bank, acting as the Fund’s agent pursuant hereto, is or may be deemed to be the same legal entity as, or affiliated with, SSB Borrower acting as “Borrower” under a Securities Borrowing Agreement, and transactions effected pursuant to and in compliance with this Agreement and any Securities Borrowing Agreement with any SSB Borrower will not constitute a breach of trust or other fiduciary duty or any other duty by the Bank or affiliates thereof.