Common use of Foreign Exchange with the Custodian as Principal Clause in Contracts

Foreign Exchange with the Custodian as Principal. The Custodian, as principal, may undertake such foreign exchange transactions with the Fund as the Custodian and the Fund may agree from time to time. In this event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, Custodian may as principal, may principal undertake such foreign exchange transactions with the Fund as the Custodian and the Fund may agree from time to time. In this such event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by an Instruction in the absence of specific agreement, the such transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, as principal, Custodian may undertake such foreign exchange transactions with the a Fund as principal, as the Custodian and the Fund may agree from time to time. In this such event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by an Instruction in the absence of a specific agreement, the such transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, Custodian may as principal, may principal undertake such foreign exchange transactions with the Fund as the Custodian and the Fund may agree from time to time. In this such event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the such transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇m▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, Custodian may as principal, may principal undertake such foreign exchange transactions with the Fund as the Custodian and the Trust or Sponsor on behalf of the Fund may agree from time to time. In this such event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by an Instruction in the absence of specific agreement, the such transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, Custodian may as principal, may principal undertake such foreign exchange transactions with the a Fund as the Custodian and the Fund may agree from time to time. In this such event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the such transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, as principal, Custodian may undertake such foreign exchange transactions with the Fund as principal, as the Custodian and the Fund may agree from time to time. In this such event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by an Instruction in the absence of a specific agreement, the such transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, as principal, may undertake such foreign exchange transactions with the Fund as the Custodian and the Fund may agree from time to time. In this event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ mark to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, Custodian may as principal, may principal undertake such foreign exchange transactions with the Fund as the Custodian and the Fund may agree from time to time. In this such event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the such transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, as principal, Custodian may undertake such foreign exchange transactions with the a Fund as principal as the Custodian and the Fund may agree from time to time. In this such event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the such transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ mark to market exposure associated with the replacement purchase pur▇▇▇▇e of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, as principal, may undertake such foreign exchange transactions with the Fund as the Custodian and the Fund may agree from time to time. In this event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇m▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, as principal, may undertake such foreign exchange transactions with the Fund as the Custodian and the Fund Trust may agree from time to time. In this event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund a party defaults on the settlement of any such foreign exchange transaction with the Custodianother party, the Fund defaulting party shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodiannon-defaulting party.

Foreign Exchange with the Custodian as Principal. The Custodian, Custodian as principal, principal may undertake such foreign exchange transactions with the Fund Company as the Custodian and the Fund Company may agree from time to time. In this event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the transaction will be performed in accordance with the usual commercial terms of the Custodian. In the event that the Fund Company defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund Company shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.

Foreign Exchange with the Custodian as Principal. The Custodian, as principal, may undertake such foreign exchange transactions with the Fund as the Custodian and the Fund may agree from time to time. In this event, the foreign exchange transaction will be performed in accordance with the particular agreement of the parties, or in the event a principal foreign exchange transaction is initiated by Instruction in the absence of specific agreement, the transaction will be performed in accordance with the usual commercial terms of the Custodian. , In the event that the Fund defaults on the settlement of any such foreign exchange transaction with the Custodian, the Fund shall be liable for contracted currency of the transaction together with any ▇▇▇▇ to market exposure associated with the replacement purchase of the contracted currency undertaken with the Custodian.