Common use of Execution Services Clause in Contracts

Execution Services. The Client agrees that the Bank may place orders for the execution of any Transactions with or through such brokers, dealers or other Agents as the Bank may choose, including Crédit Agricole Corporate and Investment Bank or any Affiliate. In the event a Transaction is made with or through an affiliated broker, dealer or other Agent, the Client authorizes the affiliated broker, dealer or other Agent to retain any commission or compensation earned in effecting the Transaction. The fees and commissions charged by certain brokers and dealers selected by the Bank may exceed the fees and commissions charged by other brokers and dealers for the same services. In these instances, the Bank shall determine in good faith that the fees and commissions are nevertheless reasonable in relation to the value of the brokerage and research services (as defined in Section 28(e)(3) of the Securities Exchange Act of 1934) provided by the broker or dealer. The Client also agrees the Bank may establish and trade in accounts in its name with members of national or regional securities exchanges, and the NASD, including “omnibus” accounts established for the purpose of combining orders for more than one client. The Client acknowledges that the bank frequently may be in position of, buying or selling the same securities for other of its clients at roughly the same time. Because of market fluctuations, the prices obtained on such transactions within a single day may vary substantially. The Client agrees that the bank’s sole obligations in such respect shall be to act in good faith to obtain a “best execution” market price on the particular transaction.

Execution Services. The Client agrees that the Bank may place orders for the execution of any Transactions with or through such brokers, dealers or other Agents as the Bank may choose, including Crédit Agricole Corporate and Investment Bank or any Affiliate. In the event a Transaction is made with or through an affiliated broker, dealer or other Agent, the Client authorizes the affiliated aff iliated broker, dealer or other Agent to retain any commission or compensation earned in effecting the Transaction. The fees and commissions charged by certain brokers and dealers selected by the Bank may exceed the fees and commissions charged by other brokers and dealers for the same services. In these instances, the Bank shall determine in good faith that the fees and commissions are nevertheless reasonable in relation to the value of the brokerage and research services (as defined in Section 28(e)(3) of the Securities Exchange Act of 1934) provided by the broker or dealer. The Client also agrees the Bank may establish and trade in accounts in its name with members of national or regional securities exchanges, and the NASD, including “omnibusomnibus ” accounts established for the purpose of combining orders for more than one client. The Client acknowledges that the bank frequently may be in position of, buying or selling the same securities for other of its clients at roughly the same time. Because of market fluctuations, the prices obtained on such transactions within a single day may vary substantially. The Client agrees that the bank’s sole obligations in such respect shall be to act in good faith to obtain a “best execution” market price on the particular transaction.