Common use of CONTRACTS WITH AFFILIATES OF THE DIRECTORS Clause in Contracts

CONTRACTS WITH AFFILIATES OF THE DIRECTORS. The Management Committee may, on behalf of the Fund, enter into contracts for goods or services with any Affiliate of a Director provided that the charges for such goods or services are the lower of (i) cost, including a reasonable allocation of cost of capital, or (ii) those charged by unaffiliated Persons in the area for similar goods and services. Any such contract shall be subject to termination by a majority of the Independent Directors following 60 days' prior notice thereof. 3.12

CONTRACTS WITH AFFILIATES OF THE DIRECTORS. The Management Committee may, on behalf of the Fund, enter into contracts for goods or services with any Affiliate of a Director provided that the charges for such goods or services are the lower of (i) cost, including a reasonable allocation of cost of capital, or (ii) those charged by unaffiliated Persons in the area for similar goods and services. Any such contract shall be subject to termination by a majority of the Independent Directors following 60 days' prior notice thereof. 3.12.

CONTRACTS WITH AFFILIATES OF THE DIRECTORS. The Management Committee may, on behalf of the Fund, enter into contracts for goods or services with any Affiliate of a Director or Investment Manager, provided that the charges for such goods or services are the lower of (i) cost, including a reasonable allocation of actual cost of capital, or (ii) those charged by unaffiliated Persons in the area for similar goods and services. Any such contract shall be subject to termination by a majority of the Independent Directors following 60 days' prior notice thereof. 3.12.