Common use of Non-Exclusivity Clause in Contracts

Non-Exclusivity. The services of the Adviser to the Funds are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors of the Trust, and that officers or directors of the Trust may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Manager to the Funds are not to be deemed to be exclusive, and the Adviser Manager shall be free to render investment advisory management or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser Manager may serve as officers and directors of the Trust, and that officers or directors of the Trust may serve as officers or directors of the AdviserManager, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser Manager are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Manager, the Allocated Portion and the Trust are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities. The Adviser may at times purchase a security for the Allocated Portion while it is selling the same security for other clients, or sell a security for the Allocated Portion while it is purchasing the same security for other clients. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors of the Trustdirectors, officers, and that officers or directors of the Trust may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors employees of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors directors, trustees, or trustees employees of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and directors or Directors of the TrustFund, and that officers or directors Directors of the Trust Fund may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, trustees or directors or trustees of any other firm firm, trust or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Company and the Funds are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and or directors of the TrustCompany, and that officers or directors of the Trust Company may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Investment Adviser to the Funds Fund are not to be deemed to be exclusive, and the Investment Adviser shall be free to render investment advisory and corporate administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors Partners of the Investment Adviser may serve as officers and directors or trustees of the Trust, and that officers or directors trustees of the Trust may serve as officers or directors partners of the Adviser, Investment Adviser to the extent that such services may be permitted by law, ; and that the officers and directors partners of the Investment Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors officers or trustees partners of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory and administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors of the TrustCompany, and that officers or directors of the Trust Company may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Trust are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and directors or Trustees of the Trust, and that officers or directors Trustees of the Trust may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, trustees or directors or trustees of any other firm firm, trust or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Portfolios are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and or directors of the TrustFund, and that officers or directors of the Trust Fund may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Manager to the Funds Fund are not to be deemed to be exclusive, and the Adviser Manager shall be free to render investment advisory management or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser Manager may serve as officers and directors of the Trust, and that officers or directors of the Trust may serve as officers or directors of the AdviserManager, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser Manager are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and corporate administrative or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and directors or Trustees of the Trust, and that officers or directors Trustees of the Trust may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, trustees or directors or trustees of any other firm firm, trust or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Company and the Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or and directors of the Adviser Advisor may serve as officers and directors of the TrustCompany, and that officers or directors of the Trust may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser Company may serve as officers and directors of the Advisor, to the extent permitted by law; and that officers and directors of the Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and corporate administrative or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and or directors of the TrustFund, and that officers or directors of the Trust Fund may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, trustees or directors or trustees of any other firm firm, trust or trustcorporation, including other investment advisory companies. 10.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and corporate administrative or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and or directors of the TrustFund, and that officers or directors of the Trust Fund may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, trustees or directors or trustees of any other firm firm, trust or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Corporation are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other similar services to others (including other investment companies) and so long as its services to engage in other activitiesthe Corporation are not impaired thereby. It is understood and agreed that officers or and directors of the Adviser may serve as officers and or directors of the TrustCorporation, and that officers or directors of the Trust Corporation may serve as officers or directors of the Adviser, Adviser to the extent that such services may be permitted by law, and that the . The officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm firm, corporation or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors [Directors] of the [Corporation/Trust], and that officers or directors [Directors] of the Trust [Corporation/Trust] may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Fund are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and or directors of the TrustFund, and that officers or directors of the Trust Fund may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, including the Fund’s sole shareholder, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Company and the Funds are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or and directors of the Adviser Advisor may serve as officers and directors of the TrustCompany, and that officers or directors of the Trust may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser Company may serve as officers and directors of the Advisor, to the extent permitted by law; and that officers and directors of the Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory and administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors trustees of the Trust, and that officers or directors trustees of the Trust may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Fund on behalf of each Series are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and directors or Directors of the TrustFund, and that officers or directors Directors of the Trust Fund may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, trustees or directors or trustees of any other firm firm, trust or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Fund are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors of the Trust, and that officers or directors of the Trust may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory or and other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and directors or Directors of the TrustFund, and that officers or directors Directors of the Trust Fund may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, officers or directors or trustees of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory or and other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and or directors of the TrustFund, and that officers or directors of the Trust Fund may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, officers or directors or trustees of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Company and the Portfolios are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and directors or trustees of the TrustCompany, and that officers or directors trustees of the Trust Company may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Company and the Portfolios are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and or directors of the TrustCompany, and that officers or directors of the Trust Company may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Manager, the Portfolio and the Trust are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities. The Adviser may at times purchase a security for the Portfolio while it is selling the same security for other clients, or sell a security for the Portfolio while it is purchasing the same security for other clients. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors of the Trustdirectors, officers, and that officers or directors of the Trust may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors employees of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors directors, trustees, or trustees employees of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Investment Adviser to the Funds are not to be deemed to be exclusive, and the Investment Adviser shall be free to render investment advisory and corporate administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors Partners of the Investment Adviser may serve as officers and directors or trustees of the Trust, and that officers or directors trustees of the Trust may serve as officers or directors partners of the Adviser, Investment Adviser to the extent that such services may be permitted by law, ; and that the officers and directors partners of the Investment Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors officers or trustees partners of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Fund are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory and corporate administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors or trustees of the Trust, and that officers or directors and trustees of the Trust may serve as officers or directors of the Adviser, Adviser to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, officers or directors or trustees of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Investment Adviser to the Funds Fund are not to be deemed to be exclusive, and the Investment Adviser shall be free to render investment advisory and corporate administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Investment Adviser may serve as officers and or directors of the TrustFund, and that officers or directors of the Trust Fund may serve as officers or directors of the Adviser, Investment Adviser to the extent that such services may be permitted by law, ; and that the officers and directors of the Investment Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Fund are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory management and corporate administrative or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or and directors of the Adviser may serve as officers and directors or Directors of the TrustFund, and that officers or directors Directors of the Trust Fund may serve as officers or directors Directors of the Adviser, Adviser to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees Directors of any other firm or trustcorporation, including other investment advisory companies. 14.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Trust on behalf of the Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and directors or Trustees of the Trust, and that officers or directors Trustees of the Trust may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, trustees or directors or trustees of any other firm firm, trust or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Fund are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory and corporate administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors or trustees of the Trust, and that officers or directors and trustees of the Trust may serve as officers or directors of the Adviser, Adviser to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, officers or directors or trustees of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and administrative or other services to others (including other investment companiesCompanies) and to engage in other activities. It is understood and agreed that officers or and directors of the Adviser Advisor may serve as officers and directors of the TrustFund, and that officers or directors of the Trust may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser Fund may serve as officers and directors of the Advisor, to the extent permitted by law; and that officers and directors of the Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Fund are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or and directors of the Adviser may serve as officers and or directors of the TrustCompany, and that officers or directors of the Trust Company may serve as officers or directors of the Adviser, Adviser to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors [Directors/Trustees] of the [Corporation/Trust], and that officers or directors [Directors/Trustees] of the Trust [Corporation/Trust] may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Fund are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory and corporate administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and directors or trustees of the TrustFund, and that officers or directors trustees of the Trust Fund may serve as officers or directors of the Adviser, Adviser to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, officers or directors or trustees of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Fund are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory management and corporate administrative or other services to others (including other investment companies) and to engage in other activities, so long as its services under this Agreement are not impaired thereby. It is understood and agreed that officers or and directors of the Adviser may serve as officers and directors or Directors of the TrustFund, and that officers or directors Directors of the Trust Fund may serve as officers or directors Directors of the Adviser, Adviser to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees Directors of any other firm or trustcorporation, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser Advisor to the Funds Company and the Fund are not to be deemed to be exclusive, and the Adviser Advisor shall be free to render investment advisory and administrative or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser Advisor may serve as officers and or directors of the TrustCompany, and that officers or directors of the Trust Company may serve as officers or directors of the Adviser, Advisor to the extent that such services may be permitted by law, ; and that the officers and directors of the Adviser Advisor are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies.

Non-Exclusivity. The services of the Adviser to the Funds Portfolios are not to be deemed to be exclusive, and the Adviser shall be free to render investment advisory or other services to others (including other investment companies) and to engage in other activities. It is understood and agreed that officers or directors of the Adviser may serve as officers and or directors of the TrustFund, and that officers or directors of the Trust Fund may serve as officers or directors of the Adviser, to the extent that such services may be permitted by law, and that the officers and directors of the Adviser are not prohibited from engaging in any other business activity or from rendering services to any other person, or from serving as partners, officers, directors or trustees of any other firm or trust, including other investment advisory companies. Section 11.