Common use of Account Transactions Clause in Contracts

Account Transactions. Unless otherwise determined and/or permitted, all securities brokerage transactions directed by the designated Investment Manager(s) for the Program shall be effected through the applicable Account Custodian. Account commissions and/or transaction fees for securities transactions directed by the designated Independent Manager(s) under the Program are inclusive of the Program Fee as defined in paragraph 2 hereof.

Account Transactions. Unless otherwise determined and/or permitted, all securities brokerage transactions directed by the designated Investment Manager(s) Program for the Program Account shall be effected through the applicable Account Custodian. Account Except where securities liquidation is required in the new account prior to assigning new management, account commissions and/or transaction fees for securities transactions directed by the designated Independent Manager(s) Program under the Program Account are inclusive of the Program Fee as defined in paragraph 2 hereof.