Common use of ACTIVITIES OF THE SUB-ADVISER Clause in Contracts

ACTIVITIES OF THE SUB-ADVISER. The services of the Sub-Adviser to the Fund are not deemed to be exclusive, the Sub-Adviser being free to render investment advisory and/or other services to others. The Sub-Adviser may permit other fund clients to use the words "Foreign & Colonial" in their names. The Adviser and the Trust agree that if the Sub-Adviser shall for any reason no longer serve as the Sub-Adviser to the Fund, the Fund will change its name so as to delete the words "Foreign & Colonial". It is understood that the Trustees, officers and shareholders of the Trust, the Fund or the Adviser are or may be or become interested in the Sub-Adviser or any person controlling, controlled by or under common control with the Sub-Adviser, as trustees, officers, employees or otherwise and that trustees, officers and employees of the Sub-Adviser or any person controlling, controlled by or under common control with the Sub-Adviser may become similarly interested in the Trust, the Fund or the Adviser and that the Sub-Adviser may be or become interested in the Fund as a shareholder or otherwise.

ACTIVITIES OF THE SUB-ADVISER. The services of the Sub-Adviser to the ----------------------------- Fund are not deemed to be exclusive, the Sub-Adviser being free to render investment advisory and/or other services to others. The Sub-Adviser may permit other fund clients to use the words "Foreign & Colonial" in their names. The Adviser and the Trust agree that if the Sub-Adviser shall for any reason no longer serve as the Sub-Adviser to the Fund, the Fund will change its name so as to delete the words "Foreign & Colonial". It is understood that the Trustees, officers and shareholders of the Trust, the Fund or the Adviser are or may be or become interested in the Sub-Adviser or any person controlling, controlled by or under common control with the Sub-Adviser, as trustees, officers, employees or otherwise and that trustees, officers and employees of the Sub-Adviser or any person controlling, controlled by or under common control with the Sub-Adviser may become similarly interested in the Trust, the Fund or the Adviser and that the Sub-Adviser may be or become interested in the Fund as a shareholder or otherwise.