Common use of Investment Program Clause in Contracts

Investment Program. The Manager shall (i) furnish continuously an investment program for the Fund, (ii) determine (subject to the overall supervision and review of the Board of Trustees of the Fund (the “Board”)) what investments shall be purchased, held, sold or exchanged by the Fund and what portion, if any, of the assets of the Fund shall be held uninvested, and (iii) make changes in the investments of the Fund. The Manager also shall manage, supervise and conduct the other affairs and business of the Fund and matters incidental thereto, subject always to the control of the Board, and to the provisions of the organizational documents of the Fund, the Registration Statement of the Fund and its securities, including its Prospectuses and Statement of Additional Information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Manager shall have the authority to engage one or more sub-advisers in connection with the management of the Fund, which sub-advisers may be affiliates of the Manager.

Investment Program. The Manager shall (i) furnish continuously an investment program for the each Fund, (ii) determine (subject to the overall supervision and review of the Board of Trustees of the Fund (the “Board”)Trust) what investments shall be purchased, held, sold or exchanged by the each Fund and what portion, if any, of the assets of the each Fund shall be held uninvested, and (iii) make changes on behalf of the Trust in the investments of the each Fund. The Manager shall also shall manage, supervise and conduct the other affairs and business of the Trust and each Fund thereof and matters incidental thereto, subject always to the control of the Board, Board of Trustees of the Trust and to the provisions of the organizational documents Master Trust Agreement and By-laws of the FundTrust, the Registration Statement of the Fund and its securities, including its Prospectuses and Statement of Additional Informationas amended, and the 1940 Act, in each case Prospectus of the Trust as from time to time amended and in effecteffect and the 1940 Act. Subject to the foregoing, the Manager shall have the authority to engage one or more sub-advisers in connection with the management of the FundFunds, which sub-advisers may be affiliates of the Manager.

Investment Program. The Manager shall (i) furnish continuously an investment program for the Fund, (ii) determine (subject to the overall supervision and review of the Board of Trustees of the Fund (the “Board”)Fund) what investments shall be purchased, held, sold or exchanged by the Fund and what portion, if any, of the assets of the Fund shall be held uninvested, and (iii) make changes in the investments of the Fund. The Manager also shall manage, supervise and conduct the other affairs and business of the Fund and matters incidental thereto, subject always to the control of the BoardBoard of Trustees of the Fund, and to the provisions of the organizational documents of the Fund, the Registration Statement of the Fund and its securities, including its Prospectuses the Prospectus and Statement of Additional Information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Manager shall have the authority to engage one or more sub-advisers in connection with the management of the Fund, which sub-advisers may be affiliates of the Manager.

Investment Program. The Manager shall (i) furnish continuously an investment program for the each Fund, (ii) determine (subject to the overall supervision and review of the Board of Trustees of the Fund (the “Board”)Trust) what investments shall be purchased, held, sold or exchanged by the each Fund and what portion, if any, of the assets of the each Fund shall be held uninvested, and (iii) make changes on behalf of the Trust in the investments of the each Fund. The Manager shall also shall manage, supervise and conduct the other affairs and business of the Trust and each Fund thereof and matters incidental thereto, subject always to the control of the Board, Board of Trustees of the Trust and to the provisions of the organizational documents Agreement and Declaration of Trust and By-Laws of the FundTrust, as amended, the Registration Statement prospectuses of the Fund and its securities, including its Prospectuses and Statement of Additional Information, and the 1940 Act, in each case Trust as from time to time amended and in effecteffect and the 1940 Act. Subject to the foregoing, the Manager shall have the authority to engage one or more sub-advisers in connection with the management of the FundFunds, which sub-advisers may be affiliates of the Manager.

Investment Program. The Manager shall (i) furnish continuously an investment program for the each Fund, (ii) determine (subject to the overall supervision and review of the Board of Trustees of the Fund (the “Board”)Trust) what investments shall be purchased, held, sold or exchanged by the each Fund and what portion, if any, of the assets of the each Fund shall be held uninvested, and (iii) make changes on behalf of the Trust in the investments of the each Fund. The Manager shall also shall manage, supervise and conduct the other affairs and business of the Trust and each Fund thereof and matters incidental thereto, subject always to the control of the Board, Board of Trustees of the Trust and to the provisions of the organizational documents Master Trust Agreement and By-Laws of the FundTrust, the Registration Statement of the Fund and its securities, including its Prospectuses and Statement of Additional Informationas amended, and the 1940 Act, in each case Prospectuses of the Trust as from time to time amended and in effecteffect and the 1940 Act. Subject to the foregoing, the Manager shall have the authority to engage one or more sub-advisers in connection with the management of the FundFunds, which sub-advisers may be affiliates of the Manager.

Investment Program. The Manager shall (i) furnish continuously an investment program for the Fund, (ii) determine (subject to the overall supervision and review of the Board of Trustees Directors of the Fund (the “Board”)Fund) what investments shall be purchased, held, sold or exchanged by the Fund and what portion, if any, of the assets of the Fund shall be held uninvested, and (iii) make changes in the investments of the Fund. The Manager shall also shall manage, supervise and conduct the other affairs and business of the Fund and matters incidental thereto, subject always to the control of the BoardBoard of Directors of the Fund, and to the provisions of the organizational documents Articles of Amendment and Restatement (the "Articles of Incorporation") and By-laws of the Fund, the Registration Statement Prospectuses of the Fund and its securities, including its Prospectuses and Statement of Additional InformationFund, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Manager shall have the authority to engage one or more sub-advisers in connection with the management of the Fund, which sub-advisers may be affiliates of the Manager.

Investment Program. The Manager shall (i) furnish continuously an investment program for the Fund, (ii) determine (subject to the overall supervision and review of the Board of Trustees Directors of the Fund (the “Board”)Fund) what investments shall be purchased, held, sold or exchanged by the Fund and what portion, if any, of the assets of the Fund shall be held uninvested, and (iii) make changes in the investments of the Fund. The Manager also shall manage, supervise and conduct the other affairs and business of the Fund and matters incidental thereto, subject always to the control of the BoardBoard of Directors of the Fund, and to the provisions of the organizational documents Articles of Amendment and Restatement (the "Articles of Incorporation") and By-laws of the Fund, the Registration Statement Prospectuses of the Fund and its securities, including its Prospectuses and Statement of Additional InformationFund, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Manager shall have the authority to engage one or more sub-advisers in connection with the management of the Fund, which sub-advisers may be affiliates of the Manager.

Investment Program. The Manager shall (i) furnish continuously an investment program for the Fund, (ii) determine (subject to the overall supervision and review of the Board of Trustees Directors of the Fund (the “Board”)Fund) what investments shall be purchased, held, sold or exchanged by the Fund and what portion, if any, of the assets of the Fund shall be held uninvested, and (iii) make changes in the investments of the Fund. The Manager shall also shall manage, supervise and conduct the other affairs and business of the Fund and matters incidental thereto, subject always to the control of the Board, Board of Directors of the Fund and to the provisions of the organizational documents Articles of Amendment and Restatement (the "Articles of Incorporation) and By-laws of the Fund, the Registration Statement Prospectuses of the Fund and its securities, including its Prospectuses and Statement of Additional InformationFund, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Manager shall have the authority to engage one or more sub-advisers in connection with the management of the Fund, which sub-advisers may be affiliates of the Manager.