Common use of The Investment Clause in Contracts

The Investment. 1.1 The Feeder Fund will invest all of its investable assets in the Master Portfolio and, in exchange therefor, the Master Portfolio agrees to issue to the Feeder Fund a beneficial interest in the Master Portfolio equal in value to the net value of the assets of the Feeder Fund conveyed to the Master Portfolio (the "Account"). The Feeder Fund may add to or reduce its investment in the Master Portfolio in the manner described in the Master Portfolio's registration statement on Form N-1A, as it may be amended from time to time (the "Master Portfolio's N-1A"). The Feeder Fund's aggregate interest in the Master Portfolio would then be recomputed in accordance with the method described in the Master Portfolio's N-1A.

The Investment. 1.1 The Feeder Fund will invest all of its investable assets in the Master Portfolio and, in exchange therefor, the Master Portfolio agrees to issue to the Feeder Fund a beneficial interest in the Master Portfolio equal in value to the net value of the assets of the Feeder Fund conveyed to the Master Portfolio (the "“Account"”). The Feeder Fund may add to or reduce its investment in the Master Portfolio in the manner described in the Master Portfolio's ’s registration statement on Form N-1A, as it may be amended from time to time N-1A (the "“Master Portfolio's ’s N-1A"”). The Feeder Fund's ’s aggregate interest in the Master Portfolio would then be recomputed in accordance with the method described in the Master Portfolio's ’s N-1A.

The Investment. 1.1 The Feeder Fund will intends to invest substantially all of its investable assets in the Master Portfolio and, in exchange therefor, the Master Portfolio agrees to issue to the Feeder Fund a beneficial interest in the Master Portfolio equal in value to the net value of the assets of the Feeder Fund conveyed to the Master Portfolio (the "Account"“Interest”). The Feeder Fund may add to or reduce its investment in the Master Portfolio in the manner described in the Master Portfolio's ’s registration statement on Form N-1AN-IA, as it may be amended from time to time (the "“Master Portfolio's N-1A"’s Registration Statement”). The Feeder Fund's ’s aggregate interest in the Master Portfolio would then be recomputed in accordance with the method described in the Master Portfolio's N-1A.’s Registration Statement.

The Investment. 1.1 The Feeder Fund will invest all of its investable assets in the Master Portfolio and, in exchange therefor, the Master Portfolio agrees to issue to the Feeder Fund a beneficial interest in the Master Portfolio equal in value to the net value of the assets of the Feeder Fund conveyed to the Master Portfolio (the "Account"“Interest”). The Feeder Fund may add to or reduce its investment in the Master Portfolio in the manner described in the Master Portfolio's ’s registration statement on Form N-1A, as it may be amended from time to time (the "“Master Portfolio's N-1A"’s Registration Statement”). The Feeder Fund's ’s aggregate interest in the Master Portfolio would then be recomputed in accordance with the method described in the Master Portfolio's N-1A.’s Registration Statement.