Common use of Allocation and Delegation of Responsibilities Clause in Contracts

Allocation and Delegation of Responsibilities. The Administrative Services may be furnished by any directors, officers or employees of the Administrator or of affiliates of the Administrator. The Administrator may, at the expense of the Administrator, retain the services of a third party as its delegate, under the Administrator’s supervision, to provide in its stead any Administrative Service; provided, however, that any such delegation to a third party shall be subject to the approval of Fund’s Board of Directors/Trustees. The Administrator shall remain liable to the Fund for any service delegated to a third party pursuant to Section 5 to the same extent as if the Administrator provided the services itself.