Soft Dollar Arrangements definition
Soft Dollar Arrangements. Soft dollar arrangement means any agreement in any form under which the Bank receives services in return for investment business put with, booked with or routed through another institution or firm. The Bank is expressly authorized by the Customer to engage in soft dollar arrangements with its Agents, service providers, or any other third party, including but not limited to the sourcing of research reports on financial products and markets. The Customer agrees and acknowledges that such arrangements are in place to provide an overall better service for the Bank’s customers as a whole. The Customer also acknowledges that such arrangements can have an impact on the Services and Ancillary Services to be provided or procured by the Bank hereunder, including the Investments for and on behalf of the Customer.
Soft Dollar Arrangements has the meaning ascribed thereto in Section 3.1(i)(v)(B).
Soft Dollar Arrangements. The Collateral Manager has no formal arrangements with specific brokers or dealers to receive research or other services beyond transaction execution in exchange for brokerage commissions from client transactions (so called “soft dollar” arrangements). However, brokers or dealers may be selected who provide research reports and services to the Collateral Manager, including: proprietary broker-dealer company research and analyses; oral and written reports, statistics and advice about the economy, industries and individual securities’ or company investment opportunities; and reports on underwriting activity, bank rates, loan defaults, loan new issuance volumes and other capital markets statistics, both of which may be attractive for the Issuer or to the Collateral Manager; and opportunities to confer with company management. In accordance with Section 28(e) of the Securities Exchange Act of 1934, as amended, broker-dealers providing such services may be paid commissions on transactions for the Issuer in excess of those that other broker-dealers not providing such services might charge so long as the Collateral Manager determines in good faith the amount of commissions is reasonable in relation to the value of the brokerage and research services provided, taking into account all of the accounts over which the Varagon Entities exercise investment discretion. Recognizing the value of the brokerage and research services provided, the Collateral Manager may allow a brokerage commission or negotiated term in excess of that which another broker might have charged for effecting the same transaction.
Examples of Soft Dollar Arrangements in a sentence
The Company may enter into Commission Sharing Arrangements in relation to the Soft Dollar Arrangements.
During the financial period ended 30 September 2019 the Investment Manager had Soft Dollar Arrangements in place to receive brokerage services, investment data, research and related seminars, in the normal course of business, as well as from third party research providers.