Common use of Appointment of Investment Manager Clause in Contracts

Appointment of Investment Manager. (a) On the terms and subject to the conditions set forth herein, the Company hereby appoints the Investment Manager as investment manager of the Portfolio with discretionary authority to manage the investment and reinvestment of the funds and assets of the Portfolio in accordance with the terms hereof, including those set forth in Schedule 1 attached hereto (as amended or supplemented from time to time by either (i) an agreement in writing of the Company and the Investment Manager or (ii) in accordance with Section 2(b), the “Investment Guidelines”), and the Investment Manager accepts such appointment.