Common use of Appointment of the Investment Adviser Clause in Contracts

Appointment of the Investment Adviser. The Investment Manager hereby appoints the Investment Adviser as its adviser with respect to the investment and reinvestment of the assets of the Company in accordance with the provisions of the Investment Management Agreement, the Charter, the Laws, the Company's investment objective and policies as from time to time in effect, and overall supervision and direction of, and guidelines established by, the Directors until its appointment shall be terminated as hereinafter provided, and the Investment Adviser hereby accepts such appointment and agrees to assume the obligations and duties set forth herein. The Investment Manager agrees to keep the Investment Adviser informed of the affairs of the Company and the performance of the Company's business.