Portfolio Acknowledgment Clause Samples
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Portfolio Acknowledgment. The Portfolio hereby acknowledges that the data and information it will be accessing from Custodian is unaudited and may not be accurate due to inaccurate pricing of securities, delays of a day or more in updating the Account and other causes for which Custodian will not be liable to the Portfolio.
Portfolio Acknowledgment. Each Portfolio acknowledges that in connection with all foreign exchange transactions entered into by the Portfolio (or its investment advisor acting on its behalf) with SSGM or any sub-custodian, SSGM and each such sub-custodian:
(A) shall be acting in a principal capacity and not as broker, agent or fiduciary to the Portfolio or its investment advisor;
(B) shall seek to profit from such foreign exchange transactions, and are entitled to retain and not disclose any such profit to the Portfolio or its investment advisor; and
(C) shall enter into such foreign exchange transactions pursuant to the terms and conditions, including pricing or pricing methodology, (a) agreed with the Portfolio or its investment advisor 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 Client Publications with respect to the particular foreign exchange execution services selected by the Portfolio or the investment advisor or (ii) as established by the sub-custodian from time to time.