Common use of Appointment as Subadviser Clause in Contracts

Appointment as Subadviser. The Adviser hereby appoints the Subadviser to act as investment adviser for and to manage a portion of the assets of the Fund (the “Subadviser Assets”) subject to the supervision of the Adviser, Sandalwood Securities, Inc. (the “Primary Subadviser”), and the Board of Trustees of the Trust and subject to the terms of this Agreement; and the Subadviser hereby accepts such appointment. In such capacity, the Subadviser shall be responsible for the investment management of the Subadviser Assets allocated to it. It is recognized that the Subadviser and certain of its affiliates may act as investment adviser to one or more other investment companies, other investment funds and vehicles, and other managed accounts and that the Adviser and the Trust do not object to such activities.

Appointment as Subadviser. The Adviser hereby appoints the Subadviser to act as investment adviser for and to manage a portion of the assets of the Fund (the “Subadviser Assets”) allocated to it by the Adviser, subject to the supervision of the Adviser, Sandalwood Securities, Inc. (the “Primary Subadviser”), Adviser and the Board of Trustees of the Trust and subject to the terms of this Agreement; and the Subadviser hereby accepts such appointment. In such capacity, the Subadviser shall be responsible for the investment management of the Subadviser Assets allocated to itAssets. It is recognized that the Subadviser and certain of its affiliates may act as investment adviser to one or more other investment companies, other investment funds and vehicles, companies and other managed accounts and that the Adviser and the Trust do not object to such activities.

Appointment as Subadviser. The Adviser hereby appoints the Subadviser to act as investment adviser for and to manage a portion of the assets of the Fund (the “Subadviser Managed Assets”) with the Adviser consistent with the arrangement described in the Prospectus and subject to the supervision of the Adviser, Sandalwood Securities, Inc. (the “Primary Subadviser”), Adviser and the Board of Trustees of the Trust and subject to Fund (the terms of this Agreement“Board” or the “Trustees”); and the Subadviser hereby accepts such appointment. In such capacity, the Subadviser shall be responsible for the investment management of the Subadviser Assets allocated to itManaged Assets. It is recognized that the Subadviser and certain of its affiliates may act as investment adviser to one or more other investment companies, other investment funds and vehicles, companies and other managed accounts and that the Adviser and the Trust Fund do not object to such activities.

Appointment as Subadviser. The Adviser hereby appoints the Subadviser to act as investment adviser for and to manage a portion of the assets of the Fund related to collateral pledges or assets in excess of those required for collateral pledges (the “"Subadviser Assets”") subject to the supervision of the Adviser, Sandalwood Securities, Inc. (the “Primary Subadviser”), Adviser and the Board of Trustees Directors of the Trust Fund and subject to the terms of this Agreement; and the Subadviser hereby xxxxxx accepts such appointment. In such capacity, the Subadviser shall be responsible for the investment management of the Subadviser Assets allocated to itAssets. It is recognized that the Subadviser and certain of its affiliates may act as investment adviser to one or more other private pooled investment companies, other investment funds and vehicles, vehicles and other managed accounts and that the Adviser and the Trust Fund do not object to such activities.

Appointment as Subadviser. The Adviser hereby appoints the Subadviser to act as investment adviser for and to manage a portion of the assets of the Fund (the “Subadviser Assets”) subject to the supervision of the Adviser, Sandalwood Securities, Inc. (the “Primary Subadviser”)Subadvise, and the Board of Trustees of the Trust and subject to the terms of this Agreement; and the Subadviser hereby accepts such appointment. In such capacity, the Subadviser shall be responsible for the investment management of the Subadviser Assets allocated to it. It is recognized that the Subadviser and certain of its affiliates may act as investment adviser to one or more other investment companies, other investment funds and vehicles, companies and other managed accounts and that the Adviser and the Trust do not object to such activities.

Appointment as Subadviser. The Adviser hereby appoints the Subadviser to act as investment adviser for and to manage a portion of the assets of the Fund as determined in the sole discretion of the Adviser (the “Subadviser Assets”) subject to the supervision of the Adviser, Sandalwood Securities, Inc. (the “Primary Subadviser”), Adviser and the Board of Trustees of the Trust and subject to the terms of this Agreement; and the Subadviser hereby accepts such appointment. In such capacity, the Subadviser shall be responsible for the investment management of the Subadviser Assets allocated to itAssets. It is recognized that the Subadviser and certain of its affiliates may act as investment adviser to one or more other investment companies, other investment funds and vehicles, companies and other managed accounts and that the Adviser and the Trust do not object to such activities.