RESPONSIBILITY FOR TRADING ACCOUNT AND TRANSACTIONS Clause Samples

RESPONSIBILITY FOR TRADING ACCOUNT AND TRANSACTIONS. Each Fund may not use its Trading Account for margin transactions or for prime brokerage activities. The Trading Account is intended for the placement of delivery vs. payment /receipt vs. payment cash trades. Each Fund is responsible for all transactions processed through its Trading Account. BBH may from time to time refuse to execute trades in its discretion. Each Fund is responsible for determining the suitability of transactions, including compliance with New York Stock Exchange Rule 405.