Common use of Aggregation of Trades Clause in Contracts

Aggregation of Trades. On occasions when Subadviser deems the purchase or sale of a security or futures contract to be in the best interest of the Fund as well as other clients of Subadviser, Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or futures contracts to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of the securities or futures contracts so purchased or sold, as well as the expenses incurred in the transaction, will be made by Subadviser in the manner Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients.

Aggregation of Trades. On occasions when Subadviser deems the purchase or sale of a security or futures contract to be in the best interest of one or more of the Fund Funds as well as other clients of Subadviser, Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or futures contracts to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient seek best execution. In such event, Subadviser will make allocation of the securities or futures contracts so purchased or sold, as well as the expenses incurred in the transaction, will be made by Subadviser in the manner Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Funds and to such other clients.

Aggregation of Trades. On occasions when Subadviser Subadvisor deems the purchase or sale of a security or futures contract to be in the best interest of the Fund as well as other clients of SubadviserSubadvisor, SubadviserSubadvisor, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or futures contracts to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of the securities or futures contracts so purchased or sold, as well as the expenses incurred in the transaction, will be made by Subadviser Subadvisor in the manner Subadviser Subadvisor considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients.

Aggregation of Trades. On occasions when Subadviser Whenever Subadvisor deems the purchase or sale of a security or futures contract to be in the best interest of the Fund as well as other clients of SubadviserSubadvisor, SubadviserSubadvisor, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or futures contracts sold or purchased or to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of the securities or futures contracts so purchased or sold, as well as the expenses incurred in the transaction, will be made by Subadviser Subadvisor in the manner Subadviser Subadvisor considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients.

Aggregation of Trades. On occasions when Whenever the Subadviser deems the purchase or sale of a security or futures contract to be in the best interest of the Fund Series as well as other clients client accounts of the Subadviser, the Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities sold or futures contracts purchased or to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of the securities or futures contracts so purchased or sold, as well as the expenses incurred in the transaction, will shall be made by the Subadviser in the manner the Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund Series and to such other clients.

Aggregation of Trades. On occasions when Subadviser Subadvisor deems the --------------------- purchase or sale of a security or futures contract to be in the best interest of the Fund as well as other clients of SubadviserSubadvisor, SubadviserSubadvisor, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or futures contracts to be sold or purchased in order to obtain the most favorable price or lower brokerage commissions and efficient execution. In such event, allocation of the securities or futures contracts so purchased or sold, as well as the expenses incurred in the transaction, will be made by Subadviser Subadvisor in the manner Subadviser Subadvisor considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients.

Aggregation of Trades. On occasions when Subadviser deems the purchase or sale of a security or futures contract to be in the best interest of the Fund as well as other clients of Subadviser, Subadviser, to the extent permitted by applicable laws and regulations, may, but shall be under no obligation to, aggregate the securities or futures contracts other investments to be sold or purchased for the Fund as well as other clients of Subadviser in order to obtain seek the most favorable price or lower brokerage commissions and efficient efficiencies that may be available for larger transactions so long as Subadviser believes that aggregation is consistent with its duty to seek best execution. In such event, allocation of the securities or futures contracts so purchased or sold, as well as the expenses incurred in the transaction, will be made by Subadviser in the manner Subadviser considers to be the most equitable and consistent with its fiduciary obligations to the Fund and to such other clients.