Common use of Swiss Investment Advisers Clause in Contracts

Swiss Investment Advisers. In accordance with applicable U.S. Treasury Regulations, an entity the sole activity of which is to render investment advice to and act on behalf of a customer (other than a collective investment vehicle, unless such collective investment vehicle is treated as a qualified collective investment vehicle under relevant U.S. Treasury Regulations and no interests in the qualified collective investment vehicle are held through such entity) based on a power of attorney or a similar instrument (e.g. an investment authority) issued by the holder of a Financial Account or based on investment powers in a directorship capacity for the purposes of investing, managing or administering funds deposited in the name of the person or entity granting the power (or issuing the similar instrument) with a Financial Institution other than a Nonparticipating Financial Institution.

Swiss Investment Advisers. In accordance with applicable U.S. Treasury Regulations, an entity the sole activity of which is to render investment advice to and act on behalf of a customer (other than a collective investment vehicle, unless such collective investment vehicle is treated as a qualified collective investment vehicle under relevant U.S. Treasury Regulations and no interests in the qualified collective investment vehicle are held through such entity) based on a power of attorney or a similar instrument (e.g. an investment authority) issued by the holder of a Financial Account or based on investment powers in a directorship capacity for the purposes of investing, managing or administering funds deposited in the name of the person or entity granting the power (or issuing the similar instrument) with a Financial Institution other than a Nonparticipating Financial 41 As amended by exchanges of notes of September 6/13, 2013. 42 As amended by exchanges of notes of September 6/13, 2013. Institution.