Common use of Exercise of Discretion Clause in Contracts

Exercise of Discretion. 乙方行使甲方所賦予之權限，為甲方之利益做成投資決定。甲方及乙方同意並認知下列事項： The Investment Manager exercises the discretion granted by the Bureau to make investment decisions in the Bureau’s interest alone. The Bureau and the Investment Manager agree and acknowledge that: (a) 乙方不擔保受託基金之獲利，且乙方對於受託基金任何之損失、價值減損或損失不負責任，除非該等減損或損失係可歸責於乙方之故意、過失或詐欺。 (a) No warranty is given by the Investment Manager as to the profitability of the Fund and that the Investment Manager will not be responsible for any loss or decline or loss in value of any part of the Fund, unless such decline or loss is attributable to the Investment Manager’s negligence, willful or reckless misconduct, or fraud. (b) 乙方之一切作為應以受託基金之最大利益為考量，且乙方應以有信譽與經驗之專業基金管理人所應具備之注意義務及技術履行本契約之義務。 (b) The Investment Manager shall at all times act in the best interest of the Fund and shall use such due diligence, care and skill as a reputable and experienced professional fund manager would in discharging its duties under this Agreement. (c) 乙方得代表乙方其他客戶買賣資產，即使該等資產與受託基金所買賣之資產類似，且乙方毋須另外對稅捐主管機關或其他主管機關陳報甲方對任何資產所持有之特定部位，但該等稅捐主管機關或其他主管機關以書面通知要求甲方為之者，不在此限。

Exercise of Discretion. 乙方行使甲方所賦予之權限，為甲方之利益做成投資決定。甲方及乙方同意並認知下列事項： The Investment Manager exercises the discretion granted as authorized by the Bureau to make investment decisions in the Bureau’s interest alone. The Bureau and the Investment Manager agree and acknowledge that: (a) 乙方不擔保受託基金之獲利，且乙方對於受託基金任何之損失、價值減損或損失不負責任，除非該等減損或損失係可歸責於乙方之故意、過失或詐欺乙方不擔保受託基金之獲利，且乙方對於受託基金任何之損失、價值減損或損失不負責任，除非該等減損或損失係可歸責於乙方或其關係人或渠等之經理人、員工或受任人之故意、過失或詐欺行為。 (a) No warranty is given by the Investment Manager as to the profitability of the Fund and that the Investment Manager will not be responsible for any loss or decline or loss in value of any part of the Fund, unless such decline or loss is attributable to the Investment Manager’s negligencenegligent, willful or reckless misconductfraudulent conducts of the Investment Manager or its Related Parties, or fraudtheir managers, employees or appointees. (b) 乙方之一切作為應以受託基金之最大利益為考量，且乙方應以有信譽與經驗之專業基金管理人所應具備之注意義務及技術履行本契約之義務。 (b) The Investment Manager shall at all times act in the best interest of the Fund and shall use such due diligence, care and skill as a reputable and experienced professional fund manager would in discharging its duties under this Agreement. (c) 乙方得代表乙方其他客戶買賣資產，即使該等資產與受託基金所買賣之資產類似，且乙方毋須另外對稅捐主管機關或其他主管機關陳報甲方對任何資產所持有之特定部位，但該等稅捐主管機關或其他主管機關以書面通知要求甲方為之者，不在此限。