Common use of Management of the Fund Clause in Contracts

Management of the Fund. The Board shall have power to conduct the business of the Fund and carry on the Fund’s operations in any and all of its branches and maintain offices both inside and outside of the State of Illinois, and in any and all other States of the United States of America, in any and all commonwealths, territories, dependencies, colonies, or possessions of the United States of America, and in any foreign jurisdiction, and to do all such other things and execute all such instruments as it deems necessary, proper, or desirable in order to promote the interests of the Fund although such things are not herein specifically mentioned. The powers of the Board may be exercised without order of or resort to any court. Unless otherwise expressly provided herein or required by federal law including the 1940 Act, the Managers shall act in their sole discretion and may take any action or exercise any power without any vote or consent of the Members. The Managers have the power to construe and interpret this Operating Agreement and to act upon any such construction or interpretation. Any construction or interpretation of this Operating Agreement by the Managers and any action taken pursuant thereto and any determination as to what is in the interests of the Fund and the Members made by the Managers in good faith shall, in each case, be conclusive and binding on all Members and all other persons for all purposes. In construing the provisions of this Operating Agreement, the presumption shall be in favor of a grant of power to the Managers. Except as required by federal law including the 1940 Act, neither the Managers nor any officer of the Fund shall owe any fiduciary duty to the Fund or any Series or Class or any Member. The Managers and each officer of the Fund shall act in a manner that such Manager or officer believes to be in the best interests of the Fund and the Members.

Management of the Fund. The Board shall have power to conduct the business of the Fund and carry on the Fund’s 's operations in any and all of its branches and maintain offices both inside and outside of the State of Illinois, and in any and all other States of the United States of America, in any and all commonwealths, territories, dependencies, colonies, or possessions of the United States of America, and in any foreign jurisdiction, and to do all such other things and execute all such instruments as it deems necessary, proper, or desirable in order to promote the interests of the Fund although such things are not herein specifically mentioned. The powers of the Board may be exercised without order of or resort to any court. Unless otherwise expressly provided herein or required by federal law including the 1940 Act, the Managers shall act in their sole discretion and may take any action or exercise any power without any vote or consent of the Members. The Managers have the power to construe and interpret this Operating Agreement and to act upon any such construction or interpretation. Any construction or interpretation of this Operating Agreement by the Managers and any action taken pursuant thereto and any determination as to what is in the interests of the Fund and the Members made by the Managers in good faith shall, in each case, be conclusive and binding on all Members and all other persons for all purposes. In construing the provisions of this Operating Agreement, the presumption shall be in favor of a grant of power to the Managers. Except as required by federal law including the 1940 Act, neither the Managers nor any officer of the Fund shall owe any fiduciary duty to the Fund or any Series or Class or any Member. The Managers and each officer of the Fund shall act in a manner that such Manager or officer believes to be in the best interests of the Fund and the Members.