Common use of Retention of Administrator Clause in Contracts

Retention of Administrator. The Trust, on behalf of the Fund, hereby engages the Administrator to furnish, or arrange for others to furnish, the administrative services, personnel and facilities described below, subject to the supervision, direction and control of the board of trustees of the Trust (the “Board”), the provisions of the Trust’s declaration of trust (as may be amended from time to time, the “Declaration”) and bylaws (as may be amended from time to time, the “Bylaws”), and applicable federal and state law.