Common use of Investment Management Clause in Contracts

Investment Management. If and to the extent requested by the Advisor, the Sub-Advisor shall, subject to the supervision of the Advisor, manage all or a portion of the investments of the Portfolio in accordance with the investment objective, policies and limitations provided in the Portfolio's registration statement or other governing instruments, as amended from time to time, the Investment Company Act of 1940 (the "1940 Act") and rules thereunder, as amended from time to time, the Limited Liability Company Agreement of the Fund, as amended from time to time (the "LLC Agreement"), and such other limitations as the Fund or Advisor may impose with respect to the Portfolio by notice to the Sub-Advisor. With respect to the portion of the investments of the Portfolio under its management, the Sub-Advisor is authorized to make investment decisions on behalf of the Portfolio with regard to any stock, bond, other security or investment instrument, and to place orders for the purchase and sale of such securities through such broker-dealers as the Sub-Advisor may select. The Sub-Advisor may also be authorized, but only to the extent such duties are delegated in writing by the Advisor, to provide additional investment management services to the Portfolio, including but not limited to services such as managing foreign currency investments, purchasing and selling or writing futures and options contracts, borrowing money or lending securities on behalf of the Portfolio. All investment management and any other activities of the Sub-Advisor shall at all times be subject to the control and direction of the Advisor and the Fund's Board of Directors.

Investment Management. If and to the extent requested by the Advisor, the Sub-Advisor shall, subject to the supervision of the Advisor, manage all or a portion of the investments of the Portfolio Fund in accordance with the investment objective, policies and limitations provided in the Portfolio's registration statement Corporation’s Prospectus or other governing instruments, as amended from time to time, the Investment Company Act of 1940 (the "“1940 Act"”) and rules thereunder, as amended from time to time, the Limited Liability Company Agreement of the FundCorporation’s policies and procedures (“Compliance Program”), as amended from time furnished to time (the "LLC Agreement")Advisor by the Corporation, and such other limitations as the Fund Corporation or Advisor may impose with respect to the Portfolio Fund by notice to the Sub-Advisor. With respect to the portion of the investments of the Portfolio under its management, the The Sub-Advisor is authorized to make investment decisions on behalf of the Portfolio Fund with regard to any stock, bond, other security securities or investment instrumentinstruments, and to place orders for the purchase and sale of such securities and instruments through such broker-dealers as the Sub-Advisor may select. The Sub-Advisor may also be authorized, but only to the extent such duties are delegated in writing by the AdvisorAdvisor and to the extent permitted by applicable laws and regulations, to provide additional investment management services to the PortfolioFund, including but not limited to services such as managing foreign currency investments, purchasing and selling or writing futures and options contracts, borrowing money money, or lending securities on behalf of the PortfolioFund. All investment management and any other activities of the Sub-Advisor shall at all times be subject to the control and direction of the Advisor and the Fund's Corporation’s Board of Directors.

Investment Management. If and to the extent requested by the Advisor, the Sub-Advisor shall, subject to the supervision of the Advisor, manage all or a portion of the investments of the Portfolio in accordance with the investment objective, policies and limitations provided in the Portfolio's registration statement or other governing instruments, as amended from time to time, the Investment Company Act of 1940 (the "1940 Act") and rules thereunder, as amended from time to time, the Limited Liability Company Agreement of the Fund, as amended from time to time (the "LLC Agreement"), and such other limitations as the Fund Trust or Advisor may impose with respect to the Portfolio by notice to the Sub-Advisor. With respect to the portion of the investments of the Portfolio under its management, the Sub-Advisor is authorized to make investment decisions on behalf of the Portfolio with regard to any stock, bond, other security or investment instrument, and to place orders for the purchase and sale of such securities through such broker-dealers as the Sub-Advisor may select. The Sub-Advisor may also be authorized, but only to the extent such duties are delegated in writing by the Advisor, to provide additional investment management services to the Portfolio, including but not limited to services such as managing foreign currency investments, purchasing and selling or writing futures and options contracts, borrowing money money, or lending securities on behalf of the Portfolio. All investment management and any other activities of the Sub-Advisor shall at all times be subject to the control and direction of the Advisor and the Fund's Board of Directors.

Investment Management. If and to the extent requested by the Advisor, the Sub-Advisor shall, subject to the supervision of the Advisor, manage all or a portion of the investments of the Portfolio in accordance with the investment objective, policies and limitations provided in the Portfolio's ’s registration statement or other governing instruments, as amended from time to time, the Investment Company Act of 1940 (the "1940 Act") and rules thereunder, as amended from time to time, the Limited Liability Company Agreement of the Fund, as amended from time to time (the "LLC Agreement"), and such other limitations as the Fund Company or Advisor may impose with respect to the Portfolio by notice to the Sub-Advisor. With respect to the portion of the investments of the Portfolio under its management, the Sub-Advisor is authorized to make investment decisions on behalf of the Portfolio with regard to any stock, bond, other security or investment instrument, and to place orders for the purchase and sale of such securities through such broker-dealers as the Sub-Advisor may select. The Sub-Advisor may also be authorized, but only to the extent such duties are delegated in writing by the Advisor, to provide additional investment management services to the Portfolio, including but not limited to services such as managing foreign currency investments, purchasing and selling or writing futures and options contracts, borrowing money money. or lending securities on behalf of the Portfolio. All investment management and any other activities of the Sub-Advisor shall at all times be subject to the control and direction of the Advisor and the Fund's Board of Directors.