Common use of Presumption of Power Clause in Contracts

Presumption of Power. The execution by the Manager or the Fund's officers of leases, assignments, conveyances, contracts or agreements of any kind whatsoever shall be sufficient to bind the Fund. No person dealing with the Manager or the Fund's officers shall be required to determine their authority to make or execute any undertaking on behalf of the Fund, nor to determine any fact or circumstances bearing upon the existence of their authority nor to see the application or distribution of revenues or proceeds derived therefrom, unless and until such person has received written notice to the contrary.

Presumption of Power. The execution by the Manager or the Fund's ’s officers of leases, assignments, conveyances, contracts or agreements of any kind whatsoever shall be sufficient to bind the Fund. No person dealing with the Manager or the Fund's ’s officers shall be required to determine their authority to make or execute any undertaking on behalf of the Fund, nor to determine any fact or circumstances bearing upon the existence of their authority nor to see the application or distribution of revenues or proceeds derived therefrom, unless and until such person has received written notice to the contrary.