Common use of Acceptance of Appointment; Standard of Performance Clause in Contracts

Acceptance of Appointment; Standard of Performance. The Underlying Adviser accepts such appointment and agrees to discharge its responsibilities as a discretionary adviser of the Allocated Portion of the Funds and agrees to act in the best interests of each Fund and will perform its duties hereunder for each Fund in conformity with (a) all applicable securities laws, including but not limited to, the Investment Company Act, the Advisers Act, and the Commodity Exchange Act, as amended (“CEA”), the Securities Act of 1933, as amended (“Securities Act”), and the Securities Exchange Act of 1934, as amended, and the rules and regulations under each such act, and (b) the terms of this Agreement.

Acceptance of Appointment; Standard of Performance. The Underlying Adviser accepts such appointment and agrees to discharge its responsibilities as a discretionary adviser of the Allocated Portion of the Funds and agrees to act in the best interests of each Fund and will perform its duties hereunder for each Fund in conformity with (a) all applicable securities laws, including but not limited to, the Investment Company Act, the Advisers Act, and the Commodity Exchange Act, as amended (“CEA”)) , the Securities Act of 1933, as amended (“Securities Act”), and the Securities Exchange Act of 1934, as amended, and the rules and regulations under each such act, and (b) the terms of this Agreement.

Acceptance of Appointment; Standard of Performance. The Underlying Adviser accepts such appointment and agrees to discharge its responsibilities as a discretionary adviser of the Allocated Portion of the Funds and agrees to act in the best interests of each Fund and will perform its duties hereunder for each Fund in conformity with (a) all applicable securities laws, including but not limited to, the Investment Company Act, the Advisers Act, and the Commodity Exchange Act, as amended (“"CEA”"), the Securities Act of 1933, as amended (“"Securities Act”"), and the Securities Exchange Act of 1934, as amended, and the rules and regulations under each such act, and (b) the terms of this Agreement.