Common use of Investment Management Services Clause in Contracts

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the Fund’s 's assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s 's investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions decisions, and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s 's assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s 's investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions decisions, and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the each Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the each Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the each Fund’s investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the each Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions decisions, and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the each Fund’s 's assets subject to and in accordance with the investment objectives and policies of the each Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the each Fund’s 's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds' investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the each Fund’s 's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s Funds' assets subject to and in accordance with the respective investment objectives and policies of the Fund Funds and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s Funds' assets and the purchase and sale of its their investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds' investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s Funds' assets and the purchase and sale of its their investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s Trust's assets subject to and in accordance with the investment objectives and policies of the Fund Trust and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Trust's investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the each Fund’s assets subject to and in accordance with the investment objectives and policies of the such Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the a Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the each Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s 's assets subject to and in accordance with the respective investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees Fund's Managing General Partners may issue from time to time. In pursuance respect of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s 's investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the TrustFund, at regular meetings of its Board of Trustees Managing General Partners and at such other times as may be reasonably requested by the Trust’s Board of TrusteesFund's Managing General Partners, of (i) the decisions which it has made with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the Fund’s Funds’ assets subject to and in accordance with the respective investment objectives and policies of the each Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the Fund’s Funds’ assets and the purchase and sale of its their investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds’ investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s Funds’ assets and the purchase and sale of its their investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the each Fund’s 's assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the each Fund’s 's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the each Fund’s 's investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the each Fund’s 's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the Fund’s Funds’ assets subject to and in accordance with the investment objectives and policies of the each Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds’ investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s Funds’ assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s 's assets and portfolio subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Fund's Board of Trustees Directors may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment portfolio securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall also include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment 's portfolio securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the TrustFund, at regular meetings of its the Board of Trustees Directors and at such other times as may be reasonably requested by the Trust’s Fund's Board of TrusteesDirectors, of (i) the decisions which it has made with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment portfolio securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the Fund’s Trust's assets subject to and in accordance with the investment objectives and policies of the Fund Trust and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Trust's investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the Fund’s 's assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s 's investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions decisions, and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s 's assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Fund's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s 's assets and the purchase and sale of its their investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s 's investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the TrustFund, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Fund's Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s 's assets and the purchase and sale of its their investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s Trust's assets and portfolio subject to and in accordance with the investment objectives and policies of the Fund Trust and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment portfolio securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall also include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment Trust's portfolio securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its the Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment portfolio securities, (ii) the reasons for such decisions decisions, and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets of the Fund subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets of the Fund and the purchase and sale of its investment portfolio securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall also include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment 's portfolio securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its the Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s assets of the Fund and the purchase and sale of its investment portfolio securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the each Fund’s assets subject to and in accordance with the investment objectives and policies of the each Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the each Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds’ investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the each Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the each Fund’s 's assets subject to and in accordance with the respective investment objectives and policies of the each Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the each Fund’s 's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the each Fund’s 's investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the each Fund’s 's assets and the purchase and sale of its their investment securities, (ii) the reasons for such decisions decisions, and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the FundTrust’s assets and portfolio subject to and in accordance with the investment objectives and policies of the Fund Trust and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the FundTrust’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the FundTrust’s investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its the Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the FundTrust’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s 's assets and portfolio subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment portfolio securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall also include determining the manner in which any voting rights, rights to consent to corporate legal action and any other rights pertaining to the Fund’s investment 's portfolio securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its the Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment portfolio securities, (ii) the reasons for such decisions decisions, and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the # 4156319 v. 1 Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the # 1225223 v. 2 Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions decisions, and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the FundTrust’s assets subject to and in accordance with the investment objectives and policies of the Fund Trust and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the FundTrust’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the FundTrust’s investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the FundTrust’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s Funds’ assets subject to and in accordance with the investment objectives and policies of the Fund Funds and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s Funds’ assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds’ investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s Funds’ assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s Funds’ assets subject to and in accordance with the respective investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s Funds’ assets and the purchase and sale of its their investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds’ investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s Funds’ assets and the purchase and sale of its their investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (ai) The Manager shall manage the each Fund’s assets subject to and in accordance with the investment objectives and policies of the such Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the a Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the each Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s Funds' assets subject to and in accordance with the respective investment objectives and policies of the each Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s Funds' assets and the purchase and sale of its their investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds' investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s Funds' assets and the purchase and sale of its their investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the # 4087470 v. 4 Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets of the Fund subject to and in accordance with the its investment objectives objective and policies of the Fund and any directions which the Trust’s Fund's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets of the Fund and the purchase and sale of its investment portfolio securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall also include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment 's portfolio securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the TrustFund, at regular meetings of its the Board of Trustees and at such other times as may be reasonably requested by the Trust’s Fund's Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s assets of the Fund and the purchase and sale of its investment portfolio securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s Trust's assets subject to and in accordance with the investment objectives and policies of the Fund Trust and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its their investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Trust's investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its their investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the Fund’s Trust's assets and portfolio subject to and in accordance with the investment objectives and policies of the Fund Trust and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Trust's investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its the Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the # 3021394 v. 3 Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the respective investment objectives and policies of the Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the # 4322795 v. 1 Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its their investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its their investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives goals and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercisedexercised to the extent not otherwise delegated to or retained by a Sub-Adviser. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the each Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the each Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds’ investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the each Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets of the Fund subject to and in accordance with the its investment objectives objective and policies of the Fund and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets of the Fund and the purchase and sale of its investment portfolio securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall also include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment 's portfolio securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its the Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s assets of the Fund and the purchase and sale of its investment portfolio securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions decisions, and (iii) the extent to which those decisions have been implemented.. IMG # 1247935 v. 1

Investment Management Services. (a) The Manager shall manage the Fund’s Funds’ assets subject to and in accordance with the respective investment objectives and policies of the Fund Funds and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s Funds’ assets and the purchase and sale of its their investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds’ investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s Funds’ assets and the purchase and sale of its their investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s 's assets and portfolio subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Custodian Funds' Board of Trustees Directors may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment portfolio securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s 's investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the TrustCustodian Funds, at regular meetings of its Board of Trustees Directors and at such other times as may be reasonably requested by the Trust’s Custodian Funds' Board of TrusteesDirectors, of (i) the decisions which it has made with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s Trust's assets subject to and in accordance with the respective investment objectives and policies of the Fund Trust and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Trust's investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions which it has made with respect to the investment of the Fund’s Trust's assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager Adviser shall manage the Fund’s Funds' assets subject to and in accordance with the investment objectives and policies of the Fund each Funds and any directions which the Trust’s 's Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager Adviser shall make all determinations with respect to the investment of the Fund’s 's assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s Funds' investment securities shall be exercised. The Manager Adviser shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s 's Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s Funds' assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.

Investment Management Services. (a) The Manager shall manage the Fund’s assets subject to and in accordance with the investment objectives and policies of the Fund and any directions which the Trust’s Board of Trustees may issue from time to time. In pursuance of the foregoing, the Manager shall make all determinations with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, and shall take such steps as may be necessary to implement the same. Such determinations and services shall include determining the manner in which any voting rights, rights to consent to corporate action and any other rights pertaining to the Fund’s investment securities shall be exercised. The Manager shall render or cause to be rendered regular reports to the Trust, at regular meetings of its Board of Trustees and at such other times as may be reasonably requested by the Trust’s Board of Trustees, of (i) the decisions made with respect to the investment of the Fund’s assets and the purchase and sale of its investment securities, (ii) the reasons for such decisions and (iii) the extent to which those decisions have been implemented.. # 3275639 v. 1