Portfolio Execution Clause Samples

Portfolio Execution. The Investment Manager shall effect all purchases and sales of securities in a manner consistent with the principles of best execution, taking into account net price (including commissions) and execution capability and other services which the broker or other intermediary may provide. In this regard, the Investment Manager may effect transactions which cause the Company to pay a commission in excess of a commission which another broker or other intermediary would have charged; provided, however, that the Investment Manager shall have first determined that such commission is reasonable in relation to the value of the brokerage or research services performed by that broker or other intermediary or that the Company is the sole beneficiary of the services provided.

Portfolio Execution. Subject to the Investment Policy, the Manager may open accounts, including margin accounts, for the Trust with any brokerage firms, banks or others and may invest assets of the Trust in, and may conduct, maintain and operate these accounts for, the purchase, sale and exchange of stocks, bonds and other securities, and in connection therewith, may borrow money or securities on behalf of the Trust to complete trades, obtain guarantees, pledge securities and engage in all other activities necessary or incidental to conducting, maintaining and operating such accounts in connection with the performance of investment advisory and portfolio management services for the Trust.

Portfolio Execution. The Client, unless it directs the Manager to use a particular broker or dealer (a “Directed Broker”), hereby delegates to the Manager sole and exclusive authority to designate the brokers or dealers through which all purchases and sales, or any other transactions related thereto, of Managed Assets on behalf of the Client will be made. To the extent permitted by applicable law, such brokers or dealers may include any firm that may be presumed an affiliate of the Manager (“Affiliated Broker-Dealers”). The Manager will determine the rate or rates, if any, to be paid for brokerage services provided to the Client with respect to its Managed Assets. The Manager agrees that securities are to be purchased through such brokers as, in the Manager’s best judgment, shall offer the best combination of price and execution. The Manager, in seeking to obtain best execution of portfolio transactions for the Client, may consider the quality and reliability of brokerage services, as well as research and investment information and other services provided by brokers or dealers. Accordingly, the Manager’s selection of a broker or dealer for transactions with respect to the Managed Assets may take into account such relevant factors as (i) price, (ii) the broker’s or dealer’s facilities, reliability and financial responsibility, (iii) when relevant, the ability of the broker to effect securities transactions, particularly with regard to such aspects as timing, order size and execution of the order, (iv) the broker’s or dealer’s recordkeeping capabilities and (v) the research and other services provided by such broker or dealer to the Manager in a manner that falls within the safe harbor of Section 28(e) of the Securities and Exchange Act of 1934, as amended, provided that all such research and other services are used by the Manager for the benefit of the Client (collectively, “Research”). Upon the request of the Client, the Manager shall provide to the Client regular reports in such form and at such times as may reasonably be required by the Client, setting forth the amount of total brokerage business placed by the Manager with respect to the Managed Assets and the allocation thereof among brokers and dealers, identifying those brokers and dealers which provided research services, and containing such other information as the Client may reasonably request. In the event that the Client instructs the Manager to place orders through a Directed Broker, including a Directed Broker who ...

Portfolio Execution. Client, unless it directs Manager to use a particular broker or dealer, hereby delegates to Manager sole and exclusive authority to designate the brokers or dealers through which all purchases and sales, or any other transactions related thereto, of Managed Assets on behalf of Client will be made. To the extent permitted by applicable law, such brokers or dealers may include any firm that is an affiliate of Manager. Manager will determine the rate or rates, if any, to be paid for brokerage services provided to Client with respect to its Managed Assets. Manager agrees that all purchases and sales of securities shall be made through such brokers as, in Manager’s best judgment, shall offer the best combination of price and execution. Manager, in seeking to obtain best execution of portfolio transactions for Client, may consider the quality and reliability of brokerage services, as well as research and investment information and other services provided by brokers or dealers. Accordingly, Manager’s selection of a broker or dealer for transactions with respect to the Managed Assets may take into account such relevant factors as (i) price, (ii) the broker’s or dealer’s facilities, reliability and financial responsibility, (iii) when relevant, the ability of the broker to effect securities transactions, particularly with regard to such aspects as timing, order size and execution of the order, (iv) the broker’s or dealer’s recordkeeping capabilities and (v) the research and other services provided by such broker or dealer to Manager in a manner that falls within the safe harbor of Section 28(e) of the Securities and Exchange Act of 1934, as amended, provided that all such research and other services are used by Manager for the benefit of Client.

Portfolio Execution. In the event that AIM designates any brokers or dealers through which purchases or sales of securities, on behalf of the New Holdco Entities and the Syndication Companies will be made, no such brokers or dealers may be Affiliates of AIM. Upon the request of New Holdco, AIM shall provide to New Holdco and applicable Disposition Committee reports in such form and at such times as may reasonably be required by New Holdco, setting forth the amount of total brokerage business placed by AIM with respect to the Investments, the allocation thereof among brokers and dealers and such other information as New Holdco may reasonably request.