Common use of Brokers and Other Third Parties Clause in Contracts

Brokers and Other Third Parties. BROKER/ X. Xxxxx shall not be responsible for any loss THIRD PARTY DEFAULT solely resulting from a failure by any broker or any other third party beyond the control of Chase. In particular, if a broker or any third party defaults on any obligation to deliver Securities or pay cash, Chase shall have no liability to the Fund for such non-delivery or payment in the absence of Chase's own negligence, willful default, bad faith or fraud. Payments of income and settlement proceeds are at the risk of the account. If Chase, at the request of the Fund, appoints a broker or agent to effect any transaction on behalf of the Fund, Chase shall have no liability whatsoever in respect of such broker's duties or its actions, omissions or solvency unless, if Chase selects such broker or agent, Chase fails to exercise reasonable care in such selection. DELIVERY TO BROKERS B. Absent Chase's own negligence, willful default, bad faith or fraud, Chase shall not be liable for losses arising from a proper Instruction to deliver Securities or cash to a broker, even if Chase might have information tending to show that this course of action, or the choice of a particular broker for a transaction, was unwise.

Brokers and Other Third Parties. BROKER/ X. Xxxxx shall not be responsible for any loss solely THIRD PARTY DEFAULT solely resulting from a failure by any broker or any other third DEFAULT party beyond the control of Chase. In particular, if a broker or any third party defaults on any obligation to deliver Securities or pay cash, Chase shall have no liability to the Fund for such non-delivery or payment in the absence of Chase's own negligence, willful default, bad faith or fraud. Payments of income and settlement proceeds are at the risk of the account. If Chase, at the request of the Fund, appoints a broker or agent to effect any transaction on behalf of the Fund, Chase shall have no liability whatsoever in respect of such broker's duties or its actions, omissions or solvency unless, if Chase selects such broker or agent, Chase fails to exercise reasonable care in such selection. DELIVERY TO BROKERS B. Absent Chase's own negligence, willful default, bad faith BROKERS or fraud, Chase shall not be liable for losses arising from a proper Instruction to deliver Securities or cash to a broker, even if Chase might have information tending to show that this course of action, or the choice of a particular broker for a transaction, was unwise.

Brokers and Other Third Parties. BROKER/ X. Xxxxx shall not be responsible for any loss THIRD PARTY DEFAULT solely resulting from a THIRD PARTY DEFAULT failure by any broker or any other third party beyond the control of Chase. In particular, if a broker or any third party defaults on any obligation to deliver Securities or pay cash, Chase shall have no liability to the Fund for such non-delivery or payment in the absence of Chase's own negligence, willful default, bad faith or fraud. Payments of income and settlement proceeds are at the risk of the account. If Chase, at the request of the Fund, appoints a broker or agent to effect any transaction on behalf of the Fund, Chase shall have no liability whatsoever in respect of such broker's duties or its actions, omissions or solvency unless, if Chase selects such broker or agent, Chase fails to exercise reasonable care in such selection. DELIVERY TO BROKERS B. Absent Chase's own negligence, willful default, bad faith or fraud, Chase shall not be liable for losses arising from a proper Instruction to deliver Securities or cash to a broker, even if Chase might have information tending to show that this course of action, or the choice of a particular broker for a transaction, was unwise.