Common use of Order Execution Clause in Contracts

Order Execution. The Local Manager acknowledges its duty under the FSA Rules to take all reasonable steps to obtain the best possible result for VKAM (taking into account the factors prescribed in the FSA Rules) when executing orders resulting from decisions to deal in designated investments (as defined in the FSA Rules) and to act in accordance with VKAM's best interests when placing orders in respect of designated investments with other persons for execution or when receiving and transmitting orders to other persons for execution. Information concerning the Local Manager's policy for meeting those obligations (the "Order Execution Policy Disclosure Statement") is included as Schedule 1. VKAM acknowledges receipt of the Order Execution Policy Disclosure Statement and confirms its consent to the matters described in it. For the avoidance of doubt and as set out in the Order Execution Policy Disclosure Statement, VKAM acknowledges that specific instructions from VKAM in relation to the execution of orders may prevent the Local Manager from following its execution policy in relation to such orders in respect of the elements of execution covered by the instructions.

Order Execution. The Local Manager acknowledges its Xxx Xxxxx Xxxxxxx xxxxxxxxxxxx xxx duty under the FSA Rules to take all reasonable steps to obtain the best possible result for VKAM (taking into account the factors prescribed in the FSA Rules) when executing orders resulting from decisions to deal in designated investments (as defined in the FSA Rules) and to act in accordance with VKAM's best interests when placing orders in respect of designated investments with other persons for execution or when receiving and transmitting orders to other persons for execution. Information concerning the Local Manager's policy for meeting those obligations (the "Order Execution Policy Disclosure Statement") is included as Schedule 1. VKAM acknowledges receipt of the Order Execution Policy Disclosure Statement and confirms its consent to the matters described in it. For the avoidance of doubt and as set out in the Order Execution Policy Disclosure Statement, VKAM acknowledges that specific instructions from VKAM in relation to the execution of orders may prevent the Local Manager from following its execution policy in relation to such orders in respect of the elements of execution covered by the instructions.