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      "text": "GSAM Private may disclose the conflict of interest to the Advisory Accounts and obtain the written consent of the Advisory Account, before voting. When seeking this consent, GSAM Private must provide the client with all pertinent information, including the nature of GSAM Private’s conflict; or\nGSAM Private may abstain from voting the proxies or vote the proxies in accordance with the recommendation of an independent third party such as Institutional Shareholder Services; or",
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      "text": "GSAM Private generally has the authority to vote the securities held by all of the Advisory Accounts, which in certain cases may be revoked by an investor due to regulatory considerations. GSAM Private’s guiding principles are to make proxy voting decisions that (i) tend to maximize the long term value of an Advisory Account’s investment and (ii) minimize the impact of conflicts of interest. See “Proxy Voting Policies for Certain GSAM Business Lines—Authority to Vote—General” above for examples of conflicts of interest that may arise in connection with proxy voting decisions by GSAM Private.",
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      "text": "Clients can obtain information regarding how securities were voted by a particular Advisory Account by calling their Goldman Sachs representative. GSAM’s Proxy Voting Policy is available upon request.",
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      "text": "GSAM is not delegated proxy voting authority on behalf of all of its Advisory Accounts and certain clients may retain proxy voting authority for certain securities within the Advisory Account. With respect to those Advisory Accounts for which GSAM does not conduct proxy voting, clients should work with their custodians to ensure they receive their proxies and other solicitations for securities held in their Advisory Account. Such clients may contact their GSAM client service representative if they have a question on particular proxy voting matters or solicitations.",
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      "text": "Once a conflict is identified, GSAM Private will take such steps as it believes to be necessary in order to vote the proxy in accordance with the guiding principles described above and its fiduciary obligations to its clients. Material conflicts of interest between GSAM Private and an Advisory Account with respect to proxy voting (which are not otherwise addressed by the guidelines) are typically resolved as follows:",
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      "text": "The following proxy voting policies and matters apply with respect to GSAM Private other than its business development companies business (the proxy voting policies and matters for GSAM Private’s business development companies business and the remaining GSAM business lines are described in this Item 17 above under “Proxy Voting Policies for Certain GSAM Business Lines”). Accordingly, all references in this section to “GSAM Private” does not include its business development companies business.",
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      "text": "With respect to shareholder class action litigation and similar matters, GSAM’s separate account clients are encouraged to contact their custodians and ensure that they receive notices and are aware of the participation and filing requirements related to class action and similar proceedings. GSAM generally will not make any filings in connection with any shareholder class action lawsuits and similar matters (including against Goldman Sachs or its affiliates) involving securities held or that were held in separate accounts for clients, and will not be required to notify custodians or clients of shareholder class action lawsuits and similar matters. GSAM will not be responsible for any failure to make such filings or, if it determines to make such filings in its sole discretion, to make such filings in a timely manner.",
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