Common use of Sweep Clause in Contracts

Sweep. Cash may be swept to investment vehicles offered by the Custodian or to other investment vehicles as directed by the Client or other Authorized Person. Cash may be uninvested when it is received or reconciled to an Account after the deadline to be swept into a target vehicle, or when held for short periods of time related to transaction settlements. The Client acknowledges that, as part of the Custodian’s compensation, the Custodian will earn interest on cash balances held by the Custodian, including disbursement balances and balances arising from purchase and sale transactions, as provided in the Custodian’s indirect compensation disclosures.

Sweep. Cash may be swept as directed by Client or its investment manager to investment vehicles offered by the Custodian or to other investment vehicles as directed by the Client or other Authorized Personvehicles. Cash may be uninvested when it is received or reconciled to an Account after the deadline to be swept into a target vehicle, or when held for short periods of time related to transaction settlements. The Client acknowledges that, as part of the Custodian’s compensation, the Custodian will earn interest on cash balances held by the Custodian, including disbursement balances and balances arising from purchase and sale transactions, as provided in the Custodian’s indirect compensation disclosures.