Common use of Authority/Instructions Clause in Contracts

Authority/Instructions. Each of the activities engaged in under the provisions of this Agreement by the Administrator on behalf of any Fund in the Trust shall be subject to the overall direction and control of the Board of Trustees, any Authorized Person of a Fund or any person authorized to act on the Trust’s behalf including, without limitation, the Board of Trustees of the Trust and the Investment Adviser with respect to a Fund within its Series; provided, however, that the Administrator shall have the general authority to do all acts deemed in the Administrator’s good faith belief to be necessary and proper to perform its obligations under this Agreement. In performing its duties hereunder, the Administrator shall observe and comply with all applicable resolutions and/or directives of the Trust’s Board of Trustees of which it has notice, and applicable laws which may from time to time apply to the Services rendered by the Administrator. The Administrator shall not provide any services related to the management, investment advisory or sub-advisory functions of any Fund of the Trust and shall have no liability relating to the foregoing. Each Fund shall furnish the Administrator with any and all Instructions deemed necessary by the Administrator in the performance of its duties hereunder, and the Administrator shall not be liable for any action taken or omitted to be taken by it in good faith without gross negligence, reckless disregard or willful misconduct in accordance with such Instructions. The Administrator, in performing its duties hereunder, shall be entitled to fully rely on the accuracy and validity of any and all Instructions furnished to it by a Fund.

Authority/Instructions. Each of the activities engaged in under the provisions of this Agreement by the Administrator on behalf of any Fund in the Trust shall be subject to the overall direction and control of the Board of Trustees, any Authorized Person of a Fund or any person authorized to act on the Trust’s behalf including, without limitation, the Board of Trustees of the Trust and the Investment Adviser with respect to a Fund within its SeriesFund; provided, however, that the Administrator shall have the general authority to do all acts deemed in the Administrator’s good faith belief to be necessary and proper to perform its obligations under this Agreement. In performing its duties hereunder, the Administrator shall observe and comply with all applicable resolutions and/or directives directi ves of the Trust’s Board of Trustees of which it has notice, and applicable laws which may from time to time apply to the Services rendered by the Administrator. The Administrator shall not provide any services related to the management, investment advisory or sub-advisory sub -advisory functions of any Fund of the Trust and shall have no liability relating to the foregoing. Each Fund shall furnish the Administrator with any and all Instructions deemed necessary by the Administrator in the performance of its duties hereunder, and the Administrator shall not be liable for any action taken or omitted to be taken by it in good faith fa ith without gross negligence, reckless disregard or willful misconduct in accordance with such Instructions. The Administrator, in performing its duties hereunder, shall be entitled to fully rely on the accuracy and validity of any and all Instructions furnished to it by a Fund.

Authority/Instructions. Each of the activities engaged in under the provisions of this Agreement by the Administrator on behalf of any Fund in the Trust shall be subject to the overall direction and control of the Board of Trustees, any Authorized Person of a Fund or any person authorized to act on the Trust’s behalf including, without limitation, the Board of Trustees of the Trust and the Investment Adviser with respect to a Fund within its SeriesFund; provided, however, that the Administrator shall have the general authority to do all acts deemed in the Administrator’s good faith belief to be necessary and proper to perform its obligations under this Agreement. In performing its duties hereunder, the Administrator shall observe and comply with all applicable resolutions and/or directives of the Trust’s Board of Trustees of which it has notice, and applicable laws which may from time to time apply to the Services rendered by the Administrator. The Administrator shall not provide any services related to the management, investment advisory or sub-advisory functions of any Fund of the Trust and shall have no liability relating to the foregoing. Each Fund shall furnish the Administrator with any and all Instructions deemed necessary by the Administrator in the performance of its duties hereunder, and the Administrator shall not be liable for any action taken or omitted to be taken by it in good faith without gross negligence, reckless disregard or willful misconduct in accordance with such Instructions. The Administrator, in performing its duties hereunder, shall be entitled to fully rely on the accuracy and validity of any and all Instructions furnished to it by a Fund.

Authority/Instructions. Each of the activities engaged in under the provisions of this Agreement by the Administrator on behalf of any Fund in the Trust shall be subject to the overall direction and control of the Board of Trustees, any Authorized Person of a Fund or any person authorized to act on the Trust’s behalf including, without limitation, the Board of Trustees of the Trust and the Investment Adviser with respect to a Fund within its SeriesAdviser; provided, however, that the Administrator shall have the general authority to do all acts deemed in the Administrator’s good faith belief to be necessary and proper to perform its obligations under this Agreement. In performing its duties hereunder, the Administrator shall observe and comply with all applicable resolutions and/or directives of the Trust’s Board of Trustees of which it has notice, and applicable laws which may from time to time apply to the Services rendered by the Administrator. The Administrator shall not provide any services related to the management, investment advisory or sub-advisory functions of any Fund of the Trust and shall have no liability relating to the foregoing. Each Fund shall furnish the Administrator with any and all Instructions deemed necessary by the Administrator in the performance of its duties hereunder, and the Administrator shall not be liable for any action taken or omitted to be taken by it in good faith without gross negligenceGross Negligence, reckless disregard or willful misconduct in accordance with such Instructions. The Administrator, in performing its duties hereunder, shall be entitled to fully rely on the accuracy and validity of any and all Instructions furnished to it by a Fund.