Common use of Brokerage Accounts Clause in Contracts

Brokerage Accounts. THE ADVISOR AUTHORIZES AND EMPOWERS THE SUBADVISOR TO DIRECT THE FUND'S CUSTODIAN TO OPEN AND MAINTAIN BROKERAGE ACCOUNTS FOR SECURITIES AND OTHER PROPERTY, INCLUDING FINANCIAL AND COMMODITY FUTURES AND COMMODITIES AND OPTIONS THEREON (ALL SUCH ACCOUNTS HEREINAFTER CALLED "BROKERAGE ACCOUNTS") FOR AND IN THE NAME OF THE FUND AND TO EXECUTE FOR THE FUND AS ITS AGENT AND ATTORNEY-IN-FACT STANDARD CUSTOMER AGREEMENTS WITH SUCH BROKER OR BROKERS AS THE SUBADVISOR SHALL SELECT AS PROVIDED ABOVE. THE SUBADVISOR MAY, USING SUCH OF THE SECURITIES AND OTHER PROPERTY IN THE FUND AS THE SUBADVISOR DEEMS NECESSARY OR DESIRABLE, DIRECT THE FUND'S CUSTODIAN TO DEPOSIT FOR THE FUND ORIGINAL AND MAINTENANCE BROKERAGE AND MARGIN DEPOSITS AND OTHERWISE DIRECT PAYMENTS OF CASH, CASH EQUIVALENTS AND SECURITIES AND OTHER PROPERTY INTO SUCH BROKERAGE ACCOUNTS AND TO SUCH BROKERS AS THE SUBADVISOR DEEMS DESIRABLE OR APPROPRIATE.