Common use of FUND ACKNOWLEDGEMENT Clause in Contracts

FUND ACKNOWLEDGEMENT. The Fund acknowledges that in connection with all foreign exchange transactions entered into by the Fund (or its Investment Manager acting on its behalf) with SSGM or any subcustodian, SSGM and each such subcustodian: (i) shall be acting in a principal capacity and not as broker, agent or fiduciary to the Fund or its Investment Manager; (ii) shall seek to profit from such foreign exchange transactions, and are entitled to retain and not disclose any such profit to the Fund or its Investment Manager; and (iii) shall enter into such foreign exchange transactions pursuant to the terms and conditions, including pricing or pricing methodology, (a) agreed with the Fund or its Investment Manager from time to time or (b) in the case of an indirect foreign exchange service (i) as established by SSGM and set forth in the Customer Publications with respect to the particular foreign exchange execution services selected by the Fund or the Investment Manager or (ii) as established by the subcustodian from time to time.

FUND ACKNOWLEDGEMENT. The Fund acknowledges that in connection with all foreign exchange transactions entered into by the Fund (or its Investment Manager investment adviser acting on its behalf) with SSGM or any subcustodiansub-custodian, SSGM and each such subcustodiansub-custodian: (i1) shall be acting in a principal capacity and not as broker, agent or fiduciary to the Fund or its Investment Managerinvestment adviser; (ii2) shall seek to profit from such foreign exchange transactions, and are entitled to retain and not disclose any such profit to the Fund or its Investment Managerinvestment adviser; and (iii3) shall enter into such foreign exchange transactions pursuant to the terms and conditions, including pricing or pricing methodology, (a) agreed with the Fund or its Investment Manager investment adviser from time to time or (b) in the case of an indirect foreign exchange service service, (i) as established by SSGM and set forth in the Customer Client Publications with respect to the particular foreign exchange execution services selected by the Fund or the Investment Manager investment adviser or (ii) as established by the subcustodian sub-custodian from time to time.

FUND ACKNOWLEDGEMENT. The Fund acknowledges that in connection with all foreign exchange transactions entered into by the Fund (or its Investment Manager Sponsor acting on its behalf) with SSGM or any subcustodiansub-custodian, SSGM and each such subcustodiansub-custodian: (i) shall be acting in a principal capacity and not as broker, agent or fiduciary to the Fund or its Investment ManagerSponsor; (ii) shall seek to profit from such foreign exchange transactions, and are entitled to retain and not disclose any such profit to the Fund or its Investment ManagerSponsor; and (iii) shall enter into such foreign exchange transactions pursuant to the terms and conditions, including pricing or pricing methodology, (a) agreed with the Fund or its Investment Manager Sponsor from time to time or (b) in the case of an indirect foreign exchange service service, (i) as established by SSGM and set forth in the Customer Client Publications with respect to the particular foreign exchange execution services selected by the Fund or the Investment Manager Sponsor or (ii) as established by the subcustodian sub-custodian from time to time.