Common use of APPOINTMENT OF SUBADVISER Clause in Contracts

APPOINTMENT OF SUBADVISER. TAMIC hereby engages the services of the Subadviser in connection with the investment and reinvestment of that discrete portion of the Portfolio's assets deemed appropriate from time to time by TAMIC in its discretion, subject to the periodic review by the Board. References to the Portfolio or Portfolio assets shall mean the portion of the Portfolio for which Subadviser is responsible. Pursuant to this Agreement and subject to the oversight and supervision by TAMIC and the Board, the Subadviser shall manage the investment and reinvestment of the Portfolio's assets. Subject to the terms and conditions of this Agreement, the Subadviser hereby accepts the engagement by TAMIC in the foregoing capacity and agrees, at the Subadviser's own expense, to render the services set forth herein and to provide the office space, furnishings, equipment, and personnel required by the Subadviser to perform these services on the terms and for the compensation provided in this Agreement. Except as specified herein, the Subadviser agrees that it shall not delegate any material obligation assumed pursuant to this Agreement to any third party without first obtaining the written consent of both the Trust and TAMIC.