Common use of Order Aggregation and Allocation Clause in Contracts

Order Aggregation and Allocation. The Client acknowledges and agrees that the Consultant and/or its operational partners may manage other portfolios, including some that may use strategies substantially similar to those of the Treasury, and expects that purchases or sales of the same assets may be made on behalf of the Treasury and the other portfolios managed by the Consultant. The operational partners selected and engaged by the Consultant may, but are not obligated to, aggregate orders for the purchase or sale of assets on behalf of the Treasury with orders on behalf of other portfolios the such partners may manage. The Client acknowledges that, while such operational partners will seek to allocate the opportunity to purchase or sell such assets among the Treasury and such other portfolios in a manner it deems equitable over time, such operational partners can not assure equality of treatment among all of its clients.