Common use of Compliance Programs Clause in Contracts

Compliance Programs. Each of the Adviser and the Subadviser hereby represents and warrants that: (a) in accordance with Rule 206(4)-7 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), each the Adviser and the Subadviser has adopted and implemented and will maintain written policies and procedures reasonably designed to prevent violation by the Adviser and the Subadviser, respectively, and its supervised persons (as such term is defined in the Advisers Act) of the Advisers Act and the rules the SEC has adopted under the Advisers Act; and (b) to the extent that the Adviser's or the Subadviser's activities or services could affect the Fund, each the Adviser and the Subadviser has adopted and implemented and will maintain written policies and procedures that are reasonably designed to prevent violation of the "federal securities laws" (as such term is defined in Rule 38a-1 under the 1940 Act) by the Fund, ▇▇▇ ▇▇viser and the Subadviser (the Subadviser's policies and procedures referred to in this Paragraph 7(b), along with the Subadviser's policies and procedures referred to in Paragraph 7(a), are referred to herein as the "Subadviser's Compliance Program").

Compliance Programs. Each of the Adviser and the Subadviser hereby represents and warrants that: (a) in accordance with Rule 206(4)-7 under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), each the Adviser and the Subadviser has adopted and implemented and will maintain written policies and procedures reasonably designed to prevent violation by the Adviser and the Subadviser, respectively, and its supervised persons (as such term is defined in the Advisers Act) of the Advisers Act and the rules the SEC has adopted under the Advisers Act; and (b) to the extent that the Adviser's or the Subadviser's activities or services could affect the Fund, each the Adviser and the Subadviser has adopted and implemented and will maintain written policies and procedures that are reasonably designed to prevent violation of the "federal securities laws" (as such term is defined in Rule 38a-1 under the 1940 Act▇▇▇▇ ▇▇▇) by the Fund, ▇▇▇ ▇▇viser the Adviser and the Subadviser (the Subadviser's policies and procedures referred to in this Paragraph 7(b), along with the Subadviser's policies and procedures referred to in Paragraph 7(a), are referred to herein as the "Subadviser's Compliance Program").