Common use of Term; Termination; Amendment Clause in Contracts

Term; Termination; Amendment. This Agreement shall become effective with respect to the Initial Portfolio on the date hereof and shall remain in full force for two years from the effective date unless sooner terminated as hereinafter provided. This Agreement shall continue in force from year to year thereafter with respect to the Initial Portfolio and each other Portfolio to which the Agreement shall have become applicable, but only so long as such continuance is specifically approved for each Portfolio at least annually in the manner required by the Investment Company Act of 1940 and the rules and regulations thereunder; provided, however, that if the continuation of this Agreement is not approved for a Portfolio, the Advisor may continue to serve in such capacity for such Portfolio in the manner and to the extent permitted by the Investment Company Act of 1940 and the rules and regulations thereunder. This Agreement shall automatically terminate in the event of its assignment and may be terminated at any time without the payment of any penalty by the Trust or by the Advisor on sixty (60) days written notice to the other party. The Trust may effect termination with respect to any Portfolio by action of the Board of Trustees or by vote of a majority of the outstanding voting securities of such Portfolio. This Agreement may also be terminated with respect to any Portfolio at any time, without the payment of any penalty by the Trust, in the event that it shall have been established by a court of competent jurisdiction that the Advisor or any officer or member of the Advisor has taken any action which results in a breach of the covenants of the Advisor set forth herein.

Term; Termination; Amendment. This Agreement shall become effective with respect to the Initial Portfolio on the date hereof and shall remain in full force for two years from the effective date unless sooner terminated as hereinafter provided. This Agreement shall continue in force from year to year thereafter with respect to the Initial Portfolio and each other Portfolio to which the Agreement shall have become applicable, but only so long as such continuance is specifically approved for each Portfolio at least annually in the manner required by the Investment Company Act of 1940 and the rules and regulations thereunder; provided, however, that if the continuation of this Agreement is not approved for a Portfolio, the Advisor Administrator may continue to serve in such capacity for such Portfolio in the manner and to the extent permitted by the Investment Company Act of 1940 and the rules and regulations thereunder. This Agreement shall automatically terminate in the event of its assignment and may be terminated at any time without the payment of any penalty by the Trust or by the Advisor Administrator on sixty (60) days written notice to the other party. The Trust may effect termination with respect to any Portfolio by action of the Board of Trustees or by vote of a majority of the outstanding voting securities of such Portfolio. This Agreement may also be terminated with respect to any Portfolio at any time, without the payment of any penalty by the Trust, Trust in the event that it shall have been established by a court of competent jurisdiction that the Advisor Administrator or any officer or member of the Advisor Administrator has taken any action which results in a breach of the covenants of the Advisor Administrator set forth herein.

Term; Termination; Amendment. This Agreement shall become effective with respect to the Initial Portfolio Existing Portfolios on the date hereof and shall remain in full force for two years from the effective date until April 30, 1997, unless sooner terminated as hereinafter provided. This Agreement shall continue in force from year to year thereafter with respect to the Initial Portfolio Existing Portfolios and each other Portfolio to which the Agreement shall have become applicable, but only so long as such continuance is specifically approved for each Portfolio at least annually in the manner required by the Investment Company Act of 1940 and the rules and regulations thereunder; provided, however, that if the continuation of this Agreement is not approved for a Portfolio, the Advisor Manager may continue to serve in such capacity for such Portfolio in the manner and to the extent permitted by the Investment Company Act of 1940 and the rules and regulations thereunder. This Agreement shall automatically terminate in the event of its assignment and may be terminated at any time without the payment of any penalty by the Trust Fund or by the Advisor Manager on sixty (60) days written notice to the other party. The Trust Fund may effect termination with respect to any Portfolio by action of the Board of Trustees Directors or by vote of a majority of the outstanding voting securities of such Portfolio. This Agreement may also be terminated with respect to any Portfolio at any time, without the payment of any penalty penalty, by the TrustBoard of Directors or by vote of a majority of the outstanding voting securities of such Portfolio, in the event that it shall have been established by a court of competent jurisdiction that the Advisor Manager or any officer or member principal of the Advisor Manager has taken any action which results in a breach of the covenants of the Advisor Manager set forth herein.