Common use of Activities of the Adviser Clause in Contracts

Activities of the Adviser. The services of the Adviser to the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials "MFS." It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser and its successors or assignees may permit other fund clients to use the initials "MFS" in their names. The Fund agrees that if the Adviser or its successors or assignees shall for any reason no longer serve as the Adviser to the Fund and the Fund's name contains the initials "MFS", the Fund will change its name so as to delete the initials "MFS." It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Trust and the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund Trust will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, Trust and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the TrustFund, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their namesits name. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to for the Fund, the Fund will change its name their names so as to delete the initials "MFS." ". It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the TrustFund, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials words "Massachusetts Financial" or "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials words "Massachusetts Financial" or "MFS." ". It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, Trust and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund Fund clients to use the initials letters "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials letters "MFS." ". It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, Fund and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials words "Massachusetts Financial" or "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials words "Massachusetts Financial" or "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, Trust and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials words "Massachusetts Financial" or "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Trust and each Fund will each change its name so as to delete the initials words "Massachusetts Financial" or "MFS." ". It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, Trust and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to for the Fund, the Fund will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the TrustFund, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Trust and the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund Trust will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Fund Trust will change its name so as to delete the initials "MFS." It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directorsdirectors, officers, employees, or otherwise and that Directorsdirectors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund Fund clients to use the initials "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust Fund are or may be or become interested in the Adviser, as Directorsdirectors, officers, employees, or otherwise and that Directorsdirectors, officers and employees, or otherwise and that directors, officers and employees of the Adviser are or may be or become similarly interested in the TrustFund, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials "MFS." It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, employees or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, Fund and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, each of the Trust and the Fund will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directorsdirectors, officers, employees, or otherwise and that Directorsdirectors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not to be deemed to be exclusive, the Adviser MFS being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Fund Trust will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, Trust and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, each of the Trust and the Fund will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directorsdirectors, officers, employees, or otherwise and that Directorsdirectors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Fund Trust will change its name so as to delete the initials "MFS." It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not to be deemed to be exclusive, the Adviser MFS being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Fund Trust will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to -------------------------------------- the Fund are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund Fund clients to use the initials letters "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials letters "MFS." ". It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, Fund and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Fund Trust will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directorsdirectors, officers, employees, or otherwise and that Directorsdirectors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund Fund clients to use the initials "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust Fund are or may be or become interested in the Adviser, as Directorsdirectors, officers, employees, or otherwise and that Directorsdirectors, officers and employees, or otherwise and that directors, officers and employees of the Adviser are or may be or become similarly interested in the Trust, Fund and that the Adviser may be or become interested in the Fund and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or and\or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Fund Trust will change its name so as to delete the initials "MFS." It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may be or become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Fund Trust will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directorsdirectors, officers, employees, or otherwise and that Directorsdirectors, officers and employees of the Adviser are or may be become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Fund Trust will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund are not to be deemed to be exclusive, the Adviser being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund agrees that if the Adviser shall for any reason no longer serve as the Adviser to the Fund, the Fund will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers officers, and shareholders of the Trust are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, and that the Adviser may be or become interested in the Fund as a shareholder or otherwise.

Activities of the Adviser. The services of the Adviser to the Fund Trust are not to be deemed to be exclusive, the Adviser MFS being free to render investment advisory and/or other services to others. The Adviser may permit other fund clients to use the initials "MFS" in their names. The Fund Trust agrees that if the Adviser shall for any reason no longer serve as the Adviser to the FundTrust, the Fund Trust will change its name so as to delete the initials "MFS." ". It is understood that the Trustees, officers officers, and shareholders of the Trust Trust, are or may be or become interested in the Adviser, as Directors, officers, employees, or otherwise and that Directors, officers and employees of the Adviser are or may become similarly interested in the Trust, Trust and that the Adviser may be or become interested in the Fund Trust as a shareholder or otherwise.