Common use of Account Transactions Clause in Contracts

Account Transactions. 4.1 The Manager will place orders for the execution of transactions on behalf of the Trust Account on a best execution basis and in accordance with Part II of the Manager’s Form ADV, as may be amended from time to time. The Manager may, in its discretion, bunch and aggregate orders for the Account. The Manager is not required to aggregate orders. The Manager hereby notifies the Beneficiary that aggregation may work against as well as for the Account’s interest. 4.2 The Manager may not execute trades with or through itself or any of its affiliates acting as agent or as principal. The Manager may execute transactions in which the Manager, its affiliates and/or their personnel have interests as described in Sections 1.3 and 13 hereof. The Manager is authorized to effect cross transactions between the Account and other accounts managed by the Manager and its affiliates provided that remuneration paid by the Account for the execution of such transactions shall be paid to broker-dealers unaffiliated with the Manager and provided, further, that the terms of such cross transactions are, in the Manager’s reasonable view, fair and equitable to the Account. Such cross transactions enable the Manager to purchase or sell a block of securities for the Account at a set price and possibly avoid an unfavorable price movement that may be created through entrance into the market with such purchase or sell order. The Manager believes that such transactions can provide meaningful benefits for its clients. However, the Manager has a potentially conflicting division of loyalties and responsibilities regarding both parties to such transactions. 4.3 The Manager may cause the Trustee to advance cash on the Account’s behalf to facilitate execution and settlement of transactions in the Account.