Common use of Tender Offers Clause in Contracts

Tender Offers. Whenever the Manager has determined that the Fund should tender securities pursuant to a “tender offer solicitation,” the Manager shall designate an affiliate as the “tendering dealer” so long as it is legally permitted to act in such capacity under the federal securities laws and rules thereunder and the rules of any securities exchange or association of which such affiliate may be a member. Such affiliated dealer shall not be obligated to make any additional commitments of capital, expense or personnel beyond that already committed (other than normal periodic fees or payments necessary to maintain its corporate existence and membership in the National Association of Securities Dealers, Inc.) as of the date of this Agreement. This Agreement shall not obligate the Manager or such affiliate (i) to act pursuant to the foregoing requirement under any circumstances in which they might reasonably believe that liability might be imposed upon them as a result of so acting, or (ii) to institute legal or other proceedings to collect fees which may be considered to be due from others to it as a result of such a tender, unless the Fund shall enter into an agreement with such affiliate to reimburse it for all expenses connected with attempting to collect such fees, including legal fees and expenses and that portion of the compensation due to their employees which is attributable to the time involved in attempting to collect such fees.

Tender Offers. Whenever the Manager has determined that the Fund [Fund/Trust] should tender securities pursuant to a “tender offer solicitation,” the Manager shall designate an affiliate as the “tendering dealer” so long as it is legally permitted to act in such capacity under the federal securities laws and rules thereunder and the rules of any securities exchange or association of which such affiliate may be a member. Such affiliated dealer shall not be obligated to make any additional commitments of capital, expense or personnel beyond that already committed (other than normal periodic fees or payments necessary to maintain its corporate existence and membership in the National Association of Securities Dealers, Inc.) as of the date of this Agreement. This Agreement shall not obligate the Manager or such affiliate (i) to act pursuant to the foregoing requirement under any circumstances in which they might reasonably believe that liability might be imposed upon them as a result of so acting, or (ii) to institute legal or other proceedings to collect fees which may be considered to be due from others to it as a result of such a tender, unless the Fund [Fund/Trust] shall enter into an agreement with such affiliate to reimburse it for all expenses connected with attempting to collect such fees, including legal fees and expenses and that portion of the compensation due to their employees which is attributable to the time involved in attempting to collect such fees.

Tender Offers. Whenever The Adviser hereby agrees that whenever the Manager Adviser has determined that the Fund should tender securities pursuant to a “tender offer solicitation,” , the Manager Adviser shall designate an affiliate as the “tendering dealer” , so long as it such affiliate is legally permitted to act in such capacity under the federal securities laws and laws, the rules promulgated thereunder and the rules of any securities exchange or association of which such affiliate may be a member. Such affiliated dealer shall not be obligated to make any additional commitments of capital, expense or personnel beyond that already committed as of the date of this Agreement (other than normal periodic fees or payments necessary to maintain its corporate existence and its membership in the National Association of Securities Dealers, Inc.) as of the date of this Agreement). This Agreement shall not obligate the Manager Adviser or such affiliate to (i) to act pursuant to the foregoing requirement under any circumstances circumstance in which they either might reasonably believe that liability might be imposed upon them it as a result of so acting, or (ii) to institute legal or other proceedings to collect fees which may be considered to be due to it from others to it as a result of such a tender, unless the Fund shall enter into an agreement with the Adviser or such affiliate to reimburse it for all expenses connected with attempting to collect such fees, f e es (including legal fees and expenses and that portion of the compensation due to their employees respective employees, which amount is directly attributable to the time involved in attempting to collect such fees).

Tender Offers. Whenever The Adviser hereby agrees that whenever the Manager Adviser has determined that the Fund should tender securities pursuant to a “"tender offer solicitation,” " the Manager Adviser shall designate an affiliate as the “"tendering dealer” ," so long as it such affiliate is legally permitted to act in such capacity under the federal securities laws and laws, the rules promulgated thereunder and the rules of any securities exchange or association of which such affiliate may be a member. Such affiliated dealer shall not be obligated to make any additional commitments of capital, expense or personnel beyond that already committed as of the date of this Agreement (other than normal periodic fees or payments necessary to maintain its corporate existence and its membership in the National Association of Securities Dealers, Inc.) as of the date of this Agreement). This Agreement shall not obligate the Manager Adviser or such affiliate to (i) to act pursuant to the foregoing requirement under any circumstances circumstance in which they either might reasonably believe that liability might be imposed upon them it as a result of so acting, or (ii) to institute legal or other proceedings to collect fees which may be considered to be due to it from others to it as a result of such a tender, unless the Fund shall enter into an agreement with the Adviser or such affiliate to reimburse it for all expenses connected with attempting to collect such fees, fees (including legal fees and expenses and that portion of the compensation due to their employees respective employees, which amount is directly attributable to the time involved in attempting to collect such fees).

Tender Offers. Whenever The Sub-Adviser hereby agrees that whenever the Manager Sub- Adviser has determined that the Fund should tender securities pursuant to a “"tender offer solicitation,” " the Manager Sub-Adviser shall designate an affiliate as the “"tendering dealer” ," so long as it such affiliate is legally permitted to act in such capacity under the federal securities laws and laws, the rules promulgated thereunder and the rules of any securities exchange or association of which such affiliate may be a member. Such affiliated dealer shall not be obligated to make any additional commitments of capital, expense or personnel beyond that already committed as of the date of this Agreement (other than normal periodic fees or payments necessary to maintain its corporate existence and its membership in the National Association of Securities Dealers, Inc.) as of the date of this Agreement). This Agreement shall not obligate the Manager Sub-Adviser or such affiliate to (i) to act pursuant to the foregoing requirement under any circumstances circumstance in which they either might reasonably believe that liability might be imposed upon them it as a result of so acting, or (ii) to institute legal or other proceedings to collect fees which may be considered to be due to it from others to it as a result of such a tender, unless the Fund shall enter into an agreement with the Sub-Adviser or such affiliate to reimburse it for all expenses connected with attempting to collect such fees, fees (including legal fees and expenses and that portion of the compensation due to their respective employees which amount is directly attributable to the time involved in attempting to collect such fees).