Common use of Authority and Limitations Clause in Contracts

Authority and Limitations. 1.1 Subject to the provisions and restrictions contained in the Prospectus, Investment Guidelines and the 1940 Act, the Subadviser, acting as agent, will have complete discretion on behalf of the Adviser (without prior reference to the Adviser) to: a. buy, sell, retain, exchange, or otherwise deal in investments (whether traded on an exchange or not) and other assets of any nature, make deposits, subscribe to issues and offers for sale and accept placings, underwritings and sub-underwritings of any investments, effect transactions on any markets, enter into spot or forward foreign exchange contracts, cause the Custodian to place and withdraw cash from deposit as and when the Subadviser thinks fit, take all day to day decisions and otherwise act as the Subadviser judges appropriate in relation to the management of the Portfolio; b. deal collectively as agent for the Funds and for other clients including affiliates and in-house funds; c. commit the Funds to underwriting or sub-underwriting any issue or offer for sale of securities of a type and to the extent permitted by the Guidelines; d. borrow on behalf of the Funds to the extent set out in the Guidelines; e. buy, sell, hold and generally deal in investments the prices of which may be subject to stabilisation (stabilisation being the buying and selling of securities in order to stabilise or maintain the market price of the securities of a recent new issue); f. buy, sell and generally deal in foreign exchange as may be required for the management of the Funds, including for the purpose of hedging currency risk on holdings in investments in currencies other than the US Dollar; g. arrange deals in non-readily realisable investments;

Authority and Limitations. 1.1 Subject to the provisions and restrictions contained in the Prospectus, Investment Guidelines and the 1940 Act, the Subadviser, acting as agent, will have complete discretion on behalf of the Adviser (without prior reference to the Adviser) to: a. buy, sell, retain, exchange, or otherwise deal in investments (whether traded on an exchange or not) and other assets of any nature, make deposits, subscribe to issues and offers for sale and accept placings, underwritings and sub-underwritings of any investments, effect transactions on any markets, enter into spot or forward foreign exchange contracts, cause the Custodian to place and withdraw cash from deposit as and when the Subadviser thinks fit, take all day to day decisions and otherwise act as the Subadviser judges appropriate in relation to the management of the Portfolio; b. deal collectively as agent for the Funds and for other clients including affiliates and in-house funds; c. commit the Funds to underwriting or sub-underwriting any issue or offer for sale of securities of a type and to the extent permitted by the Guidelines; d. borrow on behalf of the Funds to the extent set out in the Guidelines; e. buy, sell, hold and generally deal in investments the prices of which may be subject to stabilisation stabilization (stabilisation stabilization being the buying and selling of securities in order to stabilise stabilize or maintain the market price of the securities of a recent new issue); f. buy, sell and generally deal in foreign exchange as may be required for the management of the Funds, including for the purpose of hedging currency risk on holdings in investments in currencies other than the US Dollar; g. arrange deals in non-readily realisable investments;

Authority and Limitations. 1.1 Subject to the provisions and restrictions contained in the Prospectus, Investment Guidelines and the 1940 Act, the SubadviserSubadvisers, acting as agentagents, will have complete discretion on behalf of the Adviser (without prior reference to the Adviser) to: a. buy, sell, retain, exchange, or otherwise deal in investments (whether traded on an exchange or not) and other assets of any nature, make deposits, subscribe to issues and offers for sale and accept placings, underwritings and sub-underwritings of any investments, effect transactions on any markets, enter into spot or forward foreign exchange contracts, cause the Custodian to place and withdraw cash from deposit as and when the Subadviser thinks Subadvisers think fit, take all day to day decisions and otherwise act as the Subadviser judges Subadvisers judge appropriate in relation to the management of the Portfolio; b. deal collectively as agent for the Funds and for other clients including affiliates and in-house funds; c. commit the Funds to underwriting or sub-underwriting any issue or offer for sale of securities of a type and to the extent permitted by the Guidelines; d. borrow on behalf of the Funds to the extent set out in the Guidelines; e. buy, sell, hold and generally deal in investments the prices of which may be subject to stabilisation stabilization (stabilisation stabilization being the buying and selling of securities in order to stabilise stabilize or maintain the market price of the securities of a recent new issue); f. buy, sell and generally deal in foreign exchange as may be required for the management of the Funds, including for the purpose of hedging currency risk on holdings in investments in currencies other than the US Dollar; g. arrange deals in non-readily realisable realizable investments;

Authority and Limitations. 1.1 Subject to the provisions and restrictions contained in the Prospectus, Investment Guidelines and the 1940 Act, the Subadviser, acting as agent, will have complete discretion on behalf of the Adviser (without prior reference to the Adviser) to: a. buy, sell, retain, exchange, or otherwise deal in investments (whether traded on an exchange or not) and other assets of any nature, make deposits, subscribe to issues and offers for sale and accept placings, underwritings and sub-underwritings of any investments, effect transactions on any markets, enter into spot or forward foreign exchange contracts, cause the Custodian to place and withdraw cash from deposit as and when the Subadviser thinks fit, take all day to day decisions and otherwise act as the Subadviser judges appropriate in relation to the management of the Portfolio; b. deal collectively as agent for the Funds and for other clients including affiliates and in-house funds; c. commit the Funds to underwriting or sub-sub- underwriting any issue or offer for sale of securities of a type and to the extent permitted by the Guidelines; d. borrow on behalf of the Funds to the extent set out in the Guidelines; ; e. buy, sell, hold and generally deal in investments the prices of which may be subject to stabilisation (stabilisation being the buying and selling of securities in order to stabilise or maintain the market price of the securities of a recent new issue); ; f. buy, sell and generally deal in foreign exchange as may be required for the management of the Funds, including for the purpose of hedging currency risk on holdings in investments in currencies other than the US Dollar; ; g. arrange deals in non-readily realisable investments;