Common use of Delegation of Services Clause in Contracts

Delegation of Services. The Manager may, at its expense, select and contract with one or more investment advisers registered under the Investment Advisers Act of 1940 ("Sub-Advisers") to perform some or all of the services for the Trust for which it is responsible under this Agreement. The Manager will compensate any Sub-Adviser for its services to the Trust. The Manager may terminate the services of any Sub-Adviser at any time in its sole discretion, and shall at such time assume the responsibilities of such Sub-Adviser unless and until a successor Sub-Adviser is selected and the requisite approval of the Trust's shareholders is obtained. The Manager will continue to have responsibility for all advisory services furnished by any Sub-Adviser.