Common use of Managed Portion Clause in Contracts

Managed Portion. The Adviser hereby appoints the Sub-Adviser to act as investment sub-adviser to provide investment advisory services to the Subsidiary, on the terms and conditions set forth herein, for the portion of the Subsidiary’s assets that the Adviser determines in its sole discretion to allocate to the Sub-Adviser for management from time to time (the “Managed Portion”). The Adviser may make additions to, and withdrawals from, those Subsidiary assets allocated to the Sub-Adviser for management. The Sub-Adviser accepts these terms and agrees to render the services herein set forth.