Common use of Brokerage Transactions Clause in Contracts

Brokerage Transactions. (a) Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers or futures commission merchants (collectively “broker-dealers”) as it may select. The Subadviser shall select broker-dealers, which may include broker-dealers who are affiliated persons of the Fund within the meaning of the 1940 Act, to effect the Fund’s portfolio transactions on the basis of its estimate of their ability to obtain best execution (prompt and reliable execution at the most favorable security price obtainable) of particular and related portfolio transactions. The abilities of a broker-dealer to obtain best execution of particular portfolio transaction(s) will be judged by the Subadviser on the basis of all relevant factors and considerations including, insofar as feasible: the execution capabilities required by the transaction or transactions; the ability and willingness of the broker-dealer to facilitate the Fund’s portfolio transactions by participating therein for its own account; the importance to the Fund of speed, efficiency or confidentiality; the broker-dealer’s apparent familiarity with sources from or to whom particular securities might be purchased or sold; as well as any other matters relevant to the selection of a broker-dealer for particular and related transactions of the Fund.

Brokerage Transactions. (a) Subject to the provisions of this Section 5 and absent instructions from the Investment Adviser or the Trust, the Subadviser will have full discretionary authority to place orders for the purchase and sale of securities for the account of the Fund with such brokers or dealers or futures commission merchants (collectively “"broker-dealers”") as it may select. The Subadviser shall select broker-dealers, which may include broker-dealers who are affiliated persons of the Fund within the meaning of the 1940 Act, to effect the Fund’s 's portfolio transactions on the basis of its estimate of their ability to obtain best execution (prompt and reliable execution at the most favorable security price obtainable) of particular and related portfolio transactions. The abilities of a broker-dealer to obtain best execution of particular portfolio transaction(s) will be judged by the Subadviser on the basis of all relevant factors and considerations including, insofar as feasible: the execution capabilities required by the transaction or transactions; the ability and willingness of the broker-dealer to facilitate the Fund’s 's portfolio transactions by participating therein for its own account; the importance to the Fund of speed, efficiency or confidentiality; the broker-dealer’s 's apparent familiarity with sources from or to whom particular securities might be purchased or sold; as well as any other matters relevant to the selection of a broker-dealer for particular and related transactions of the Fund.