Common use of Services as Investment Advisor Clause in Contracts

Services as Investment Advisor. Subject to the supervision and direction of the Board of Trustees of the Company, Sierra Advisors has general oversight responsibility for the investment advisory services provided to the Fund and will exercise this responsibility in accordance with the Company's Master Trust Agreement, the Investment Company Act of 1940 and the Investment Advisors Act of 1940, as the same may from time to time be amended, and with the Fund's investment objective(s) and policies as stated in the Fund's Prospectus and Statement of Additional Information relating to the Fund as from time to time in effect. In connection therewith, Sierra Advisors will, among other things, (a) participate in the formulation of

Services as Investment Advisor. Subject to the supervision and direction of the Board of Trustees of the Company, Sierra Advisors has general oversight responsibility for the investment advisory services provided to the Fund and will exercise this responsibility in accordance with the Company's Master Trust Agreement, the Investment Company Act of 1940 and the Investment Advisors Act of 1940, as the same may from time to time be amended, and with the Fund's investment objective(s) and policies as stated in the Fund's Prospectus and Statement of Additional Information relating to the Fund as from time to time in effect. In connection therewith, Sierra Advisors will, among other things, (a) participate in the formulation ofand

Services as Investment Advisor. Subject to the supervision and direction of the Board of Trustees of the Company, Sierra Advisors has general oversight responsibility for the investment advisory services provided to the Fund and will exercise this responsibility in accordance with the Company's Master Trust Agreement, the Investment Company Act of 1940 and the Investment Advisors Act of 1940, as the same may from time to time be amended, and with the Fund's investment objective(s) and policies as stated in the Fund's Prospectus and Statement of Additional Information relating to the Fund as from time to time in effect. In connection therewith, Sierra Advisors will, among other things, (a) participate in the formulation offrom

Services as Investment Advisor. Subject to the supervision and direction of the Board of Trustees of the Company, Sierra Advisors has general oversight responsibility for the investment advisory services provided to the Fund and will exercise this responsibility in accordance with the Company's Master Trust Agreement, the Investment Company Act of 1940 1940, and the Investment Advisors Advisers Act of 1940, as the same may from time to time be amended, and with the Fund's investment objective(s) and policies as stated in the Fund's Prospectus and Statement of Additional Information relating to the Fund as from time to time in effect. In connection therewith, Sierra Advisors will, among other things, (a) participate in the formulation offrom