The Sub-Advisor Sample Clauses
The Sub-Advisor clause defines the role and responsibilities of a sub-advisor engaged by the primary advisor or investment manager. It typically outlines the scope of services the sub-advisor will provide, such as managing a portion of the investment portfolio or offering specialized expertise, and may specify reporting requirements, compensation, and standards of care. By clearly delineating the sub-advisor's duties and relationship to the main advisor, this clause ensures accountability and clarifies the division of responsibilities, thereby reducing the risk of misunderstandings or disputes between the parties involved.
The Sub-Advisor. The Sub-Advisor has been duly organized and validly exists as a limited liability company in good standing under the laws of the State of Delaware with full power and authority to conduct the business in which it is engaged as described in the Prospectus. The Sub-Advisor is duly qualified to do business as a foreign limited liability company and is in good standing in each other jurisdiction in which it owns or leases property of a nature, or transacts business of a type, that would make such qualification necessary except where the failure to be so qualified or in good standing could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
The Sub-Advisor. (i) is registered as an investment advisor under the Advisors Act and will continue to be so registered for so long as this Agreement remains in effect; (ii) is not prohibited by the 1940 Act or the Advisors Act from performing the services contemplated by this Agreement; (iii) has met, and will continue to meet for so long as this Agreement remains in effect, any applicable federal or state requirements, or the applicable requirements of any regulatory or industry self-regulatory agency, necessary to be met in order to perform the services contemplated by this Agreement; (iv) has the authority to enter into and perform the services contemplated by this Agreement; and (v) will immediately notify the Investment Advisor of the occurrence of any event that would disqualify the Sub-Advisor from serving as an investment advisor of an investment company pursuant to Section 9 (a) of the 1940 Act or otherwise.
The Sub-Advisor. The manager has retained the Sub-Advisor, Cornerstone Real Estate Advisers, Inc., to provide day-to-day portfolio management for the Fund. The Sub-Advisor has operated as an investment advisor since 1994. As of December 31, 2001, the Sub-Advisor managed over $4 billion of equity real estate assets and $70 million of real estate securities. The Sub-Advisor is an indirect, wholly-owned subsidiary of Massachusetts Mutual Life Insurance Company ("MassMutual") of Springfield MA, the parent company of the Manager, and is located at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇. The Manager, not the Fund, pays the Sub-Advisor an annual fee under the Sub-Advisory Agreement between the Manager and the Sub-Advisor.
The Sub-Advisor. The Sub Advisor is a wholly owned subsidiary of Massachusetts Mutual Life Insurance Company ("MassMutual"), the parent company of the Manager. The Sub-Advisory Agreement. Under the Sub-Advisory Agreement between the Manager and the Sub-Advisor, the Sub-Advisor shall regularly provide investment advice with respect to the Fund and invest and reinvest cash, securities and the property comprising the assets of the Fund. The Sub-Advisor also agrees to provide assistance in the distribution and marketing of the Fund. Under the Sub-Advisory Agreement, the Manager pays the Sub-Advisor an annual fee in monthly installments, based on the average daily net assets of the Fund. The fee paid to the Sub-Advisor under the Sub-Advisory Agreement is paid by the Manager, not by the Fund. The Adviser will pay the SubAdviser a fee equal to 40% of the investment management fee collected by the Adviser from the Fund, which shall be calculated after any investment management fee waivers (voluntary or otherwise). Notwithstanding the foregoing, if the Adviser, without the SubAdviser's concurrence, agrees to voluntarily waive a portion of the investment management fee the Fund is required to pay to the Adviser, the SubAdviser's fee hereunder shall be based upon the investment management fee the Fund would have to pay exclusive of any such waiver agreed to by the Adviser in its sole descretion." The Sub-Advisory Agreement states that in the absence of willful misfeasance, bad faith, negligence or reckless disregard of its duties or obligations, the Sub-Advisor shall not be liable to the Manager for any act or omission in the course of or connected with rendering services under the Sub-Advisory Agreement or for any losses that may be sustained in the purchase, holding or sale of any security. Brokerage Policies of the Fund Brokerage Provisions of the Investment Advisory Agreement and the Sub-Advisory Agreement. One of the duties of the Sub-Advisor under the Sub-Advisory Agreement is to arrange the portfolio transactions for the Fund. The Fund's investment advisory agreement with the Manager and the Sub-Advisory Agreement between the Manager and the Sub-Advisor contain provisions relating to the employment of broker-dealers to effect the Fund's portfolio transactions. The Manager and the Sub-Advisor are authorized to employ broker-dealers, including "affiliated" brokers, as that term is defined in the Investment Company Act. They may employ broker-dealers that, in their best judgment ...