Common use of Services as Manager Clause in Contracts

Services as Manager. a. Subject to the supervision and direction of the Board of Trustees of the Trust, the Trust acknowledges and agrees that the Manager may, at its own expense, select a person or persons to act as investment adviser (an “Adviser”) to render investment advice to each of the Portfolios. Each such Adviser shall make all determinations with respect to the Portfolio’s assets for which it has responsibility in accordance with the Portfolio’s investment objectives, policies, and restrictions as stated in the Trust’s Agreement and Declaration of Trust, By-Laws, and the Registration Statement as from time to time in effect; provided, that any contract with an Adviser (an “Advisory Agreement”) shall be in compliance with and approved as required by the Investment Company Act of 1940, as amended (the “1940 Act”) or as otherwise permitted by the SEC.

Services as Manager. a. a.Subject to the supervision and direction of the Board of Trustees of the Trust, the Trust acknowledges and agrees that the Manager may, at its own expense, select a person or persons to act as investment adviser (an “"Adviser”") to render investment advice to each of the Portfolios. Each such Adviser shall make all determinations with respect to the Portfolio’s 's assets for which it has responsibility in accordance with the Portfolio’s 's investment objectives, policies, and restrictions as stated in the Trust’s 's Agreement and Declaration of Trust, By-Laws, and the Registration Statement as from time to time in effect; provided, that any contract with an Adviser (an “"Advisory Agreement”") shall be in compliance with and approved as required by the Investment Company Act of 1940, as amended (the “"1940 Act”") or as otherwise permitted by the SEC.

Services as Manager. a. Subject to the supervision and direction of the Board of Trustees of the Trust, the Trust acknowledges and agrees that the Manager may, at its own expense, select a person or persons to act as investment adviser (an “"Adviser”") to render investment advice to each of the Portfolios. Each such Adviser shall make all determinations with respect to the Portfolio’s 's assets for which it has responsibility in accordance with the Portfolio’s 's investment objectives, policies, and restrictions as stated in the Trust’s 's Agreement and Declaration of Trust, By-Laws, and the Registration Statement as from time to time in effect; provided, that any contract with an Adviser (an “"Advisory Agreement”") shall be in compliance with and approved as required by the Investment Company Act of 1940, as amended (the “"1940 Act”") or as otherwise permitted by the SEC.