Common use of Advisory, Management and Distribution Contracts Clause in Contracts

Advisory, Management and Distribution Contracts. Subject to such requirements and restrictions as may be set forth in the Bylaws, the Board of Directors may, at any time and from time to time, contract for exclusive or nonexclusive advisory and/or management services for the Fund with Columbia Management Company, an Oregon corporation ("COLUMBIA MANAGEMENT"), or any other partnership, corporation, trust, association or other organization to serve as Adviser; and any such contract may contain such other terms as the Board of Directors may determine, including without limitation, authority for the Adviser (i) to determine from time to time without prior consultation with the Board of Directors what investments shall be purchased, held, sold or exchanged and what portion, if any, of the assets of the Fund shall be held uninvested and to make changes in the Fund's investments and (ii) to delegate all or any part of its authority thereunder to one or more Subadvisers. The Board of Directors may also, at any time and from time to time, contract with the Adviser or any other partnership, corporation, trust, association, limited liability company or other organization, appointing it exclusive or nonexclusive distributor, principal underwriter or placement agent for the Interests, every such contract to comply with such requirements and restrictions, if any, as may be set forth in the Bylaws; and any such contract may contain such other terms as the Board of Directors may determine. The fact that: any of the Investors, Directors or officers of the Fund is a shareholder, director, officer, partner, trustee, employee, member, manager, advisor, subadvisor, principal underwriter, placement agent, distributor or Affiliate or agent of or for any partnership, corporation, trust, association, limited liability company or other organization, or of or for any parent or affiliate of any organization, with which an advisory, subadvisory or management contract, or principal underwriter's or distributor's contract, or placement agreement or transfer, shareholder servicing or other agency contract may have been or may hereafter be made, or that any such organization, or any parent or Affiliate thereof, is an Investor of or has an interest in the Fund, or that any partnership, corporation, trust, association, limited liability company or other organization with which an advisory, subadvisory or management contract, or principal underwriter's or distributor's contract, or placement agreement or transfer, shareholder servicing or other agency contract (or any Affiliate thereof) may have been or may hereafter be made also has an advisory, subadvisory or management contract, or principal underwriter's or distributor's contract, placement agreement or transfer, shareholder servicing or other agency contract with one or more other corporations, trusts, associations, limited liability companies or other organizations, or has other business or interests, shall not affect the validity of any such contract or disqualify any Investor, Director or officer of the Fund from voting upon or executing the same or create any liability or accountability to the Fund or its Investors.

Advisory, Management and Distribution Contracts. (a) Subject to such requirements and restrictions as may be set forth in the Bylaws, the Board of Directors may, at any time and from time to time, contract for exclusive or nonexclusive advisory and/or management services for the Fund with Columbia Management CompanyGrosvenor Capital Management, L.P., an Oregon corporation Illinois limited partnership ("COLUMBIA MANAGEMENT"“Grosvenor”), or any other partnership, corporation, trust, association or other organization to serve as Adviser; and any such contract may contain such other terms as the Board of Directors may determine, including without limitation, authority for the Adviser (i) to determine from time to time without prior consultation with the Board of Directors what investments shall be purchased, held, sold or exchanged and what portion, if any, of the assets of the Fund shall be held uninvested and to make changes in the Fund's ’s investments and (ii) to delegate all or any part of its authority thereunder to one or more Subadvisers. The Board of Directors may also, at any time and from time to time, contract with the Adviser or any other partnership, corporation, trust, association, limited liability company or other organization, appointing it exclusive or nonexclusive distributor, principal underwriter or placement agent for the Interests, every such contract to comply with such requirements and restrictions, if any, as may be set forth in the Bylaws; and any such contract may contain such other terms as the Board of Directors may determine. The fact that: any of the Investors, Directors or officers of the Fund is a shareholder, director, officer, partner, trustee, employee, member, manager, advisoradviser, subadvisorsubadviser, principal underwriter, placement agent, distributor or Affiliate or agent of or for any partnership, corporation, trust, association, limited liability company or other organization, or of or for any parent or affiliate Affiliate of any organization, with which an advisory, subadvisory or management contract, or principal underwriter's ’s or distributor's ’s contract, or placement agreement or transfer, shareholder servicing or other agency contract may have been or may hereafter be mademade with the Fund, or that any such organization, or any parent or Affiliate thereof, is an Investor of or has an interest in the Fund, or that any partnership, corporation, trust, association, limited liability company or other organization with which an advisory, subadvisory or management contract, or principal underwriter's ’s or distributor's ’s contract, or placement agreement or transfer, shareholder servicing or other agency contract (or any Affiliate thereof) may have been or may hereafter be made with the Fund also has an advisory, subadvisory or management contract, or principal underwriter's ’s or distributor's ’s contract, placement agreement or transfer, shareholder servicing or other agency contract with one or more other corporations, trusts, associations, limited liability companies or other organizations, or has other business or interests, Grosvenor Registered Multi-Strategy Master Fund, LLC Page 6 of 29 Operating Agreement shall not affect the validity of any such contract or disqualify any Investor, Director or officer of the Fund from voting upon or executing the same or create any liability or accountability to the Fund or its Investors.

Advisory, Management and Distribution Contracts. (a) Subject to such requirements and restrictions as may be set forth in the Bylaws, the Board of Directors may, at any time and from time to time, contract for exclusive or nonexclusive advisory and/or management services for the Fund with Columbia Management CompanyBanc of America Investment Advisors, an Oregon Inc., a Delaware corporation ("COLUMBIA MANAGEMENTBAIA"), or any other partnership, corporation, trust, association or other organization to serve as Adviser; and any such contract may contain such other terms as the Board of Directors may determine, including without limitation, authority for the Adviser (i) to determine from time to time without prior consultation with the Board of Directors what investments shall be purchased, held, sold or exchanged and what portion, if any, of the assets of the Fund shall be held uninvested and to make changes in the Fund's investments and (ii) to delegate all or any part of its authority thereunder to one or more Subadvisers. The Board of Directors may also, at any time and from time to time, contract with the Adviser or any other partnership, corporation, trust, association, limited liability company or other organization, appointing it exclusive or nonexclusive distributor, principal underwriter or placement agent for the Interests, every such contract to comply with such requirements and restrictions, if any, as may be set forth in the Bylaws; and any such contract may contain such other terms as the Board of Directors may determine. The fact that: any of the Investors, Directors or officers of the Fund is a shareholder, director, officer, partner, trustee, employee, member, manager, advisor, subadvisor, principal underwriter, placement agent, distributor or Affiliate or agent of or for any partnership, corporation, trust, association, limited liability company or other organization, or of or for any parent or affiliate Affiliate of any organization, with which an advisory, subadvisory or management contract, or principal underwriter's or distributor's contract, or placement agreement or transfer, shareholder servicing or other agency contract may have been or may hereafter be mademade with the Fund, or that any such organization, or any parent or Affiliate thereof, is an Investor of or has an interest in the Fund, or that any partnership, corporation, trust, association, limited liability company or other organization with which an advisory, subadvisory or management contract, or principal underwriter's or distributor's contract, or placement agreement or transfer, shareholder servicing or other agency contract (or any Affiliate thereof) may have been or may hereafter be made with the Fund also has an advisory, subadvisory or management contract, or principal underwriter's or distributor's contract, placement agreement or transfer, shareholder servicing or other agency contract with one or more other corporations, trusts, associations, limited liability companies or other organizations, or has other business or interests, shall not affect the validity of any such contract or disqualify any Investor, Director or officer of the Fund from voting upon or executing the same or create any liability or accountability to the Fund or its Investors.

Advisory, Management and Distribution Contracts. Subject to such requirements and restrictions as may be set forth in the Bylaws, this Agreement or the 1940 Act, the Board of Directors may, at any time and from time to time, contract for exclusive or nonexclusive advisory and/or management services for the Fund with Columbia SEI Investments Management CompanyCorporation, an Oregon a Delaware corporation ("COLUMBIA MANAGEMENTSEI"), or any other partnership, corporation, trust, association or other organization Person to serve as Adviser; and any such contract may contain such other terms as the Board of Directors may determine, including including, without limitation, authority for the Adviser (i) to determine from time to time without prior consultation with the Board of Directors what investments shall be purchased, held, sold or exchanged and what portion, if any, of the assets of the Fund shall be held uninvested and to make changes in the Fund's investments and (ii) to delegate all or any part of its authority thereunder to one or more Subadvisers. The Board of Directors may also, at any time and from time to time, contract with the Adviser or any other partnership, corporation, trust, association, limited liability company or other organizationPerson, appointing it exclusive or nonexclusive distributor, principal underwriter or placement agent for the Interests, every such contract to comply with such requirements and restrictions, if any, as may be set forth in the Bylaws; and any such contract may contain such other terms as the Board of Directors may determine. The Board of Directors is further empowered, at any time and from time to time, to contract with any Persons to provide such other services to the Fund, as the Board of Directors determines to be in the best interests of the Fund. The fact that: any of the Investors, Directors or officers of the Fund is a shareholder, director, officer, partner, trustee, employee, member, manager, advisoradviser, subadvisorsubadviser, principal underwriter, placement agent, distributor or Affiliate or agent of or for any partnership, corporation, trust, association, limited liability company or other organization, or of or for any parent or affiliate Affiliate of any organization, with which an advisory, subadvisory or management contract, or principal underwriter's or distributor's contract, or placement agreement or transfer, shareholder servicing or other agency contract may have been or may hereafter be mademade with the Fund, or that any such organization, or any parent or Affiliate thereof, is an Investor of or has an interest in the Fund, or that any partnership, corporation, trust, association, limited liability company or other organization (or any Affiliate hereof) with which an advisory, subadvisory or management contract, or principal underwriter's or distributor's contract, or placement agreement or transfer, shareholder servicing or other agency contract (or any Affiliate thereof) may have been or may hereafter be made by the Fund also has an advisory, subadvisory or management contract, or principal underwriter's or distributor's contract, placement agreement or transfer, shareholder servicing or other agency contract with one or more other corporations, trusts, associations, limited liability companies or other organizations, or has other business or interests, shall not affect the validity of any such contract or disqualify any Investor, Director or officer of the Fund from voting upon or executing the same or create any liability or accountability to the Fund or its Investors.