Common use of Fund Elections Clause in Contracts

Fund Elections. The Fund (or its Investment Advisor acting on its behalf) may elect to enter into and execute foreign exchange transactions with third parties that are not affiliated with the Custodian, with State Street Global Markets, which is the foreign exchange division of State Street Bank and Trust Company and its affiliated companies (“SSGM”), or with a sub-custodian. Where a Fund or its Investment Advisor gives Proper Instructions for the execution of a foreign exchange transaction using an indirect foreign exchange service described in the general client publications of State Street Bank and Trust Company available from time to time to clients and their investment managers (“Client Publications”), a Fund (or its Investment Advisor) instructs the Custodian, on behalf of a Fund, to direct the execution of such foreign exchange transaction to SSGM or, when the relevant currency is not traded by SSGM, to the applicable sub-custodian. The Custodian shall not have any agency (except as contemplated in preceding sentence), trust or fiduciary obligation to a Fund, its Investment Advisor or any other person in connection with the execution of any foreign exchange transaction. The Custodian shall have no responsibility under this Contract for the selection of the counterparty to, or the method of execution of, any foreign exchange transaction entered into by a Fund (or its Investment Advisor acting on its behalf) or the reasonableness of the execution rate on any such transaction.

Fund Elections. The Fund (or its Investment Advisor acting on its behalf) may elect to enter into and execute foreign exchange transactions with third parties that are not affiliated with the Custodian, with State Street Global Markets, which is the foreign exchange division of State Street Bank and Trust Company and its affiliated companies (“"SSGM”"), or with a sub-custodian. Where a Fund or its Investment Advisor gives Proper Instructions for the execution of a foreign exchange transaction using an indirect foreign exchange service described in the general client publications of State Street Bank and Trust Company available from time to time to clients and their investment managers (“"Client Publications”"), a Fund (or its Investment Advisor) instructs the Custodian, on behalf of a Fund, to direct the execution of such foreign exchange transaction to SSGM or, when the relevant currency is not traded by SSGM, to the applicable sub-custodian. The Custodian shall not have any agency (except as contemplated in preceding sentence), trust or fiduciary obligation to a Fund, its Investment Advisor or any other person in connection with the execution of any foreign exchange transaction. The Custodian shall have no responsibility under this Contract for the selection of the counterparty to, or the method of execution of, any foreign exchange transaction entered into by a Fund (or its Investment Advisor acting on its behalf) or the reasonableness of the execution rate on any such transaction.

Fund Elections. The Fund (or its Investment Advisor investment advisor acting on its behalf) may elect to enter into and execute foreign exchange transactions with third parties that are not affiliated with the Custodian, with [State Street Global Markets], which is the foreign exchange division of [State Street Bank and Trust Company Company] and its affiliated companies (“[SSGM]”), or with a sub-custodian. Where a the Fund or its Investment Advisor investment advisor gives Proper Instructions for the execution of a foreign exchange transaction using an indirect foreign exchange service described in the general client publications of State Street Bank and Trust Company available from time to time to clients and their investment managers Client Publications (“Client Publications”as defined below), a the Fund (or its Investment Advisorinvestment advisor) instructs the Custodian, on behalf of a the Fund, to direct the execution of such foreign exchange transaction to SSGM [SSGM] or, when the relevant currency is not traded by [SSGM], to the applicable sub-custodian. The Custodian shall not have any agency (except as contemplated in preceding sentence), trust or fiduciary obligation to a the Fund, its Investment Advisor investment advisor or any other person in connection with the execution of any foreign exchange transaction. The Custodian shall have no responsibility under this Contract Agreement for the selection of the counterparty to, or the method of execution of, any foreign exchange transaction entered into by a the Fund (or its Investment Advisor investment advisor acting on its behalf) or the reasonableness of the execution rate on any such transaction. Client Publications means the general client publications of [State Street Bank and Trust Company] available from time to time available to clients and their investment managers.

Fund Elections. The Each Fund (or its Investment Advisor or its Investment Sub-Advisor acting on its behalf) may elect to enter into and execute foreign exchange transactions with third parties that are not affiliated with the Custodian, with State Street Global Markets, which is the foreign exchange division of State Street Bank and Trust Company and its affiliated companies (“SSGM”), or with a sub-custodian. Where a Fund the Fund, its Investment Advisor or its Investment Sub-Advisor gives Proper Instructions for the execution of a foreign exchange transaction using an indirect foreign exchange service described in the general client publications of State Street Bank and Trust Company available from time to time to clients and their investment managers (“Client Publications”), a the Fund (or its Investment Advisor or its Investment Sub-Advisor) instructs the Custodian, on behalf of a the Fund, to direct the execution of such foreign exchange transaction to SSGM or, when the relevant currency is not traded by SSGM, to the applicable sub-custodian. The Custodian shall not have any agency (except as contemplated in preceding sentence), trust or fiduciary obligation to a the Fund, its Investment Advisor, its Investment Sub-Advisor or any other person in connection with the execution of any foreign exchange transaction. The Custodian shall have no responsibility under this Contract Agreement for the selection of the counterparty to, or the method of execution of, any foreign exchange transaction entered into by a the Fund (or its Investment Advisor or its Investment Sub-Advisor acting on its behalf) or the reasonableness of the execution rate on any such transaction.