Common use of Advisory and Management Arrangements Clause in Contracts

Advisory and Management Arrangements. Subject to a Majority Shareholder Vote, if required by law, of the applicable Series or Class, the Trustees may in their discretion from time to time enter into advisory, administrative or management contracts whereby the other party to such contract shall undertake to furnish to the Trustees such advisory, administrative and management services, with respect to a Series or a Class as the Trustees shall from time to time consider desirable and all upon such terms and conditions as the Trustees may in their discretion determine. Subject to a Majority Shareholder Vote if required by law, the investment adviser may engage one or more firms to serve as Portfolio Manager to a Series pursuant to a sub-investment advisory contract in which the Portfolio Manager makes all determinations with respect to the purchase and sale of portfolio securities and places, in the names of the Series all orders for execution of the Series’ portfolio transactions upon such terms and conditions and for such compensation as the Trustees may in their discretion approve. A Portfolio Manager may, in turn, engage its own sub-adviser in managing a particular Series. Notwithstanding any provisions of this Declaration, the Trustees may authorize any adviser, portfolio manager, administrator or manager (subject to such general or specific instructions as the Trustees may from time to time adopt) to effect purchases, sales, loans or exchanges of portfolio securities of any Series of the Trust on behalf of the Trustees or may authorize any officer, employee or Trustee to effect such purchases, sales, loans or exchanges pursuant to recommendations of any such adviser, portfolio manager, administrator or manager (and all without further action by the Trustees). Any such purchases, sales, loans or exchanges shall be deemed to have been authorized by all of the Trustees.

Advisory and Management Arrangements. Subject to a Majority Shareholder Vote, if required by law, of the applicable Series or ClassSeries, the Trustees may in their discretion from time to time enter into advisory, administrative or management contracts whereby the other party to such contract shall undertake to furnish to the Trustees such advisory, administrative and management services, with respect to a Series or a Class as the Trustees shall from time to time consider desirable and all upon such terms and conditions as the Trustees may in their discretion determine. Subject to a Majority Shareholder Vote if required by law, the investment adviser may engage one or more firms to serve as Portfolio Manager to a Series pursuant to a sub-investment advisory contract in which the Portfolio Manager makes all determinations with respect to the purchase and sale of portfolio securities and places, in the names of the Series all orders for execution of the Series’ ' portfolio transactions upon such terms and conditions and for such compensation as the Trustees may in their discretion approve. A Portfolio Manager may, in turn, engage its own sub-adviser in managing a particular Series. Notwithstanding any provisions of this Declaration, the Trustees may authorize any adviser, portfolio manager, administrator or manager (subject to such general or specific instructions as the Trustees may from time to time adopt) to effect purchases, sales, loans or exchanges of portfolio securities of any Series of the Trust on behalf of the Trustees or may authorize any officer, employee or Trustee to effect such purchases, sales, loans or exchanges pursuant to recommendations of any such adviser, portfolio manager, administrator or manager (and all without further action by the Trustees). Any such purchases, sales, loans or exchanges shall be deemed to have been authorized by all of the Trustees.

Advisory and Management Arrangements. Subject to a Majority ------------------------------------ Shareholder Vote, if required by law, of the applicable Series or ClassSeries, the Trustees may in their discretion from time to time enter into advisory, administrative or management contracts whereby the other party to such contract shall undertake to furnish to the Trustees such advisory, administrative and management services, with respect to a Series or a Class as the Trustees shall from time to time consider desirable and all upon such terms and conditions as the Trustees may in their discretion determine. Subject to a Majority Shareholder Vote if required by law, the investment adviser may engage one or more firms to serve as Portfolio Manager to a Series pursuant to a sub-investment advisory contract in which the Portfolio Manager makes all determinations with respect to the purchase and sale of portfolio securities and places, in the names of the Series all orders for execution of the Series’ ' portfolio transactions upon such terms and conditions and for such compensation as the Trustees may in their discretion approve. A Portfolio Manager may, in turn, engage its own sub-adviser in managing a particular Series. Notwithstanding any provisions of this Declaration, the Trustees may authorize any adviser, portfolio manager, administrator or manager (subject to such general or specific instructions as the Trustees may from time to time adopt) to effect purchases, sales, loans or exchanges of portfolio securities of any Series of the Trust on behalf of the Trustees or may authorize any officer, employee or Trustee to effect such purchases, sales, loans or exchanges pursuant to recommendations of any such adviser, portfolio manager, administrator or manager (and all without further action by the Trustees). Any such purchases, sales, loans or exchanges shall be deemed to have been authorized by all of the Trustees.

Advisory and Management Arrangements. Subject to a Majority Shareholder Vote, if required by law, of the Trust or the applicable Series or ClassPortfolio, the Trustees may in their discretion from time to time enter into advisory, management, or administrative or management contracts whereby the other party to such contract shall undertake to furnish to the Trustees Trust or one or more Portfolios thereof such advisory, management and/or administrative and management services, with respect to a Series one or a Class more Portfolios as the Trustees shall from time to time consider desirable and all upon such terms and conditions as the Trustees may in their discretion determine. Subject to a Majority Shareholder Vote if required by law, the Trustees and/or the investment adviser or manager may engage one or more firms to serve as Portfolio Manager portfolio manager to a Series Portfolio pursuant to a sub-investment advisory portfolio management contract in which the Portfolio Manager portfolio manager makes all determinations with respect to the purchase and sale of portfolio securities and places, in the names of the Series one or more Portfolios all orders for execution of the Series’ portfolio transactions upon such terms and conditions and for such compensation as the Trustees may in their discretion approve. A Portfolio Manager portfolio manager may, in turn, engage its own sub-adviser advisers in managing a particular SeriesPortfolio. Notwithstanding any provisions of this Declaration, the Trustees may authorize any manager, adviser, portfolio manager, or administrator or manager (subject to such general or specific instructions as the Trustees may from time to time adopt) to effect purchases, sales, loans or exchanges of portfolio securities of any Series Portfolio of the Trust on behalf of the Trustees or may authorize any officer, employee or Trustee to effect such purchases, sales, loans or exchanges pursuant to recommendations of any such manager, adviser, portfolio manager, manager or administrator or manager (and all without further action by the Trustees). Any such purchases, sales, loans or exchanges shall be deemed to have been authorized by all of the Trustees.

Advisory and Management Arrangements. Subject to a Majority ------------------------------------ Shareholder Vote, if required by law, of the Trust or the applicable Series or ClassPortfolio, the Trustees may in their discretion from time to time enter into advisory, management, or administrative or management contracts whereby the other party to such contract shall undertake to furnish to the Trustees Trust or one or more Portfolios thereof such advisory, management and/or administrative and management services, with respect to a Series one or a Class more Portfolios as the Trustees shall from time to time consider desirable and all upon such terms and conditions as the Trustees may in their discretion determine. Subject to a Majority Shareholder Vote if required by law, the Trustees and/or the investment adviser or manager may engage one or more firms to serve as Portfolio Manager portfolio manager to a Series Portfolio pursuant to a sub-investment advisory portfolio management contract in which the Portfolio Manager portfolio manager makes all determinations with respect to the purchase and sale of portfolio securities and places, in the names of the Series one or more Portfolios all orders for execution of the Series’ portfolio transactions upon such terms and conditions and for such compensation as the Trustees may in their discretion approve. A Portfolio Manager portfolio manager may, in turn, engage its own sub-adviser sub- advisers in managing a particular SeriesPortfolio. Notwithstanding any provisions of this Declaration, the Trustees may authorize any manager, adviser, portfolio manager, or administrator or manager (subject to such general or specific instructions as the Trustees may from time to time adopt) to effect purchases, sales, loans or exchanges of portfolio securities of any Series Portfolio of the Trust on behalf of the Trustees or may authorize any officer, employee or Trustee to effect such purchases, sales, loans or exchanges pursuant to recommendations of any such manager, adviser, portfolio manager, manager or administrator or manager (and all without further action by the Trustees). Any such purchases, sales, loans or exchanges shall be deemed to have been authorized by all of the Trustees.

Advisory and Management Arrangements. Subject to a Majority Shareholder Vote, if required by law, of the applicable Series or Class, the Trustees may in their discretion from time to time enter into advisory, administrative or management contracts whereby the other party to such contract shall undertake to furnish to the Trustees Trust or one or more Series thereof such advisory, administrative and management services, with respect to a Series or a Class as the Trustees shall from time to time consider desirable and all upon such terms and conditions as the Trustees may in their discretion determine. Subject to a Majority Shareholder Vote if required by law, the investment adviser may engage one or more firms to serve as Portfolio Manager to a Series pursuant to a sub-investment advisory contract in which the Portfolio Manager makes all determinations with respect to the purchase and sale of portfolio securities and places, in the names of the Series all orders for execution of the Series’ ' portfolio transactions upon such terms and conditions and for such compensation as the Trustees may in their discretion approve. A Portfolio Manager may, in turn, engage its own sub-adviser in managing a particular Series. Notwithstanding any provisions of this Declaration, the Trustees may authorize any adviser, portfolio manager, administrator or manager (subject to such general or specific instructions as the Trustees may from time to time adopt) to effect purchases, sales, loans or exchanges of portfolio securities of any Series of the Trust on behalf of the Trustees or may authorize any officer, ; employee or Trustee to effect such purchases, sales, loans or exchanges pursuant pursuant, to recommendations of any such adviser, portfolio manager, administrator or manager (and all without further action by the Trustees). Any such purchases, sales, loans or exchanges shall be deemed to have been authorized by all of the Trustees.

Advisory and Management Arrangements. Subject to a Majority Shareholder Vote, if required by law, of the applicable Series or Class, the Trustees may in their discretion from time to time enter into advisory, administrative or management contracts whereby the other party to such contract shall undertake to furnish to the Trustees Trust or one or more Series thereof such advisory, administrative and management services, with respect to a Series or a Class as the Trustees shall from time to time consider desirable and all upon such terms and conditions as the Trustees may in their discretion determine. Subject to a Majority Shareholder Vote if required by law, the investment adviser may engage one or more firms to serve as Portfolio Manager to a Series pursuant to a sub-investment advisory contract in which the Portfolio Manager makes all determinations with respect to the purchase and sale of portfolio securities and places, in the names of the Series all orders for execution of the Series’ ' portfolio transactions upon such terms and conditions and for such compensation as the Trustees may in their discretion approve. A Portfolio Manager may, in turn, engage its own sub-adviser in managing a particular Series. Notwithstanding any provisions of this Declaration, the Trustees may authorize any adviser, portfolio manager, administrator or manager (subject to such general or specific instructions as the Trustees may from time to time adopt) to effect purchases, sales, loans or exchanges of portfolio securities of any Series of the Trust on behalf of the Trustees or may authorize any officer, employee or Trustee to effect such purchases, sales, loans or exchanges pursuant to recommendations of any such adviser, portfolio manager, administrator or manager (and all without further action by the Trustees). Any such purchases, sales, loans or exchanges shall be deemed to have been authorized by all of the Trustees.

Advisory and Management Arrangements. Subject to a Majority ---- ------------------------------------ Shareholder Vote, if required by law, of the applicable Series or Class, the Trustees may in their discretion from time to time enter into advisory, administrative or management contracts whereby the other party to such contract shall undertake to furnish to the Trustees such advisory, administrative and management services, with respect to a Series or a Class as the Trustees shall from time to time consider desirable and all upon such terms and conditions as the Trustees may in their discretion determine. Subject to a Majority Shareholder Vote if required by law, the investment adviser may engage one or more firms to serve as Portfolio Manager to a Series pursuant to a sub-investment advisory contract in which the Portfolio Manager makes all determinations with respect to the purchase and sale of portfolio securities and places, in the names of the Series all orders for execution of the Series’ ' portfolio transactions upon such terms and conditions and for such compensation as the Trustees may in their discretion approve. A Portfolio Manager may, in turn, engage its own sub-adviser in managing a particular Series. Notwithstanding any provisions of this Declaration, the Trustees may authorize any adviser, portfolio manager, administrator or manager (subject to such general or specific instructions as the Trustees may from time to time adopt) to effect purchases, sales, loans or exchanges of portfolio securities of any Series of the Trust on behalf of the Trustees or may authorize any officer, employee or Trustee to effect such purchases, sales, loans or exchanges pursuant to recommendations of any such adviser, portfolio manager, administrator or manager (and all without further action by the Trustees). Any such purchases, sales, loans or exchanges shall be deemed to have been authorized by all of the Trustees.