Common use of Trade Settlement Clause in Contracts

Trade Settlement. Transactions will be settled using practices customary in the jurisdiction or market where the transaction occurs. The Fund understands that when the Custodian is instructed to deliver Securities against payment, delivery of such Securities and receipt of payment therefor may not be completed simultaneously. Custodian shall have no responsibility for non-receipt of payment or late payment, or non-delivery of Securities or late delivery of Securities, except where Custodian is negligent, acting in bad faith, or engaging in willful misconduct or fraud, or does not follow current market practice.

Trade Settlement. Transactions will be settled using practices customary in the jurisdiction or market where the transaction occurs. The Fund understands that when the Custodian is instructed to deliver Securities against payment, delivery of such Securities and receipt of payment therefor may not be completed simultaneously. Custodian shall have no The Fund assumes full responsibility for non-receipt of payment or late payment, or non-all risks involved in connection with the Custodian’s delivery of Securities or late delivery of Securitiespursuant to Authorized Instructions in accordance with local market practice, except where to the extent Custodian is negligent, acting in bad faith, or engaging in willful misconduct or fraud, or does not follow current market practice.

Trade Settlement. Transactions will be settled using practices customary in the jurisdiction or market where the transaction occurs. The Fund Client understands that when the Custodian is instructed to deliver Securities against payment, delivery of such Securities and receipt of payment therefor may not be completed simultaneously. Custodian shall have no The Client assumes full responsibility for non-receipt of payment or late payment, or non-all risks involved in connection with the Custodian’s delivery of Securities or late delivery of Securitiespursuant to Authorized Instructions in accordance with local market practice, except where to the extent Custodian is negligent, acting in bad faith, or engaging in willful misconduct or fraud, or does not follow current market practice.