Common use of MANAGED ACCOUNTS Clause in Contracts

MANAGED ACCOUNTS. With regard to managed accounts, a Money Manager is a person or entity authorized to make decisions with respect to an account on behalf of the account’s beneficial owners, including a trustee, custodian, conservator, guardian, executor, administrator, attorney-in-fact, or investment advisor or other person to whom Client has granted trading authority over an account. Client understands and agrees that GMI may, but is not required to, review any action or inaction by a Money Manager with respect to an account and is not responsible for determining whether a Money Manager’s action or inaction satisfies the standard of care applicable to such Money Manager’s handling of the account. Client further understands and agrees that GMI is not responsible for determining the validity of a person’s or entity’s status or capacity to serve as a Money Manager. Client agrees to hold GMI and its officers, directors, employees, agents and affiliates harmless from any liability, claim, or expense, including attorneys’ fees and disbursements, as incurred, for the actions or non-actions of Client’s Money Manager.

MANAGED ACCOUNTS. With regard to managed accounts, a Money Manager is a person or entity authorized to make decisions with respect to an account on behalf of the account’s beneficial owners, including a trustee, custodian, conservator, guardian, executor, administrator, attorney-in-fact, or investment advisor or other person to whom Client has granted trading authority over an account. Client understands and agrees that GMI EDGE may, but is not required to, review any action or inaction by a Money Manager with respect to an account and is not responsible for determining whether a Money Manager’s action or inaction satisfies the standard of care applicable to such Money Manager’s handling of the account. Client further understands and agrees that GMI EDGE is not responsible for determining the validity of a person’s or entity’s status or capacity to serve as a Money Manager. Client agrees to hold GMI EDGE and its officers, directors, employees, agents and affiliates harmless from any liability, claim, or expense, including attorneys’ fees and disbursements, as incurred, for the actions or non-actions of Client’s Money Manager.