Common use of Employment of Administrator Clause in Contracts

Employment of Administrator. The Corporation hereby employs the Administrator to act as administrator of the Corporation, and to furnish, or arrange for others to furnish, the administrative services, personnel and facilities described below, subject to review by and the overall control of the Board of Directors of the Corporation, for the period and on the terms and conditions set forth in this Agreement. The Administrator hereby accepts such employment and agrees during such period to render, or arrange for the rendering of, such services and to assume the obligations herein set forth. The Administrator and such others shall for all purposes herein be deemed to be independent contractors and shall, unless otherwise expressly provided or authorized herein or in a separate written agreement, have no authority to act for or represent the Corporation in any way or otherwise be deemed agents of the Corporation.

Appears in 4 contracts

Samples: Administration Agreement (Tortoise Capital Resources Corp), Second Amended Administration Agreement (Tortoise Capital Resources Corp), Administration Agreement (Tortoise Gas & Oil Corp)

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Employment of Administrator. The Corporation hereby employs the Administrator to act as a manager and administrator of the Corporation, and to furnish, or arrange for others affiliates to furnish, the management and administrative services, personnel and facilities services described below, subject to review by and the overall control of the Board of Directors of the CorporationDirectors, for the period and on the terms and conditions set forth in this Agreement. The Administrator hereby accepts such employment and agrees during such period period, at its own expense, to render, or arrange for the rendering of, such services and to assume the obligations herein set forthforth for the compensation provided for herein. The Administrator and such others its affiliates shall for all purposes herein be deemed to be independent contractors and shall, unless otherwise expressly provided or authorized herein or in a separate written agreementauthorized, have no authority to act for or represent the Corporation in any way or otherwise be deemed agents of the Corporation.

Appears in 1 contract

Samples: Administration Agreement (Mercury Target Select Equity Fund Inc)

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Employment of Administrator. The Corporation Company hereby employs the Administrator to act as administrator of the CorporationCompany, and to furnish, or arrange for others to furnish, the administrative services, personnel and facilities described below, subject to review by and the overall control of the Board of Directors of the CorporationCompany, for the period and on the terms and conditions set forth in this Agreement. The Administrator hereby accepts such employment and agrees during such period to render, or arrange for the rendering of, such services and to assume the obligations herein set forth. The Administrator and such others shall for all purposes herein be deemed to be independent contractors and shall, unless otherwise expressly provided or authorized herein or in a separate written agreement, have no authority to act for or represent the Corporation Company in any way or otherwise be deemed agents of the CorporationCompany.

Appears in 1 contract

Samples: Administration Agreement (National Renewable Energy Investment Fund, Inc.)

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