Common use of Business of the Fund Clause in Contracts

Business of the Fund. (a) The Fund was formed, and is hereby continued, for the object and purpose of (and the nature of the business to be conducted by the Fund is) purchasing, selling, investing and trading in Securities and engaging in any financial or derivative transactions relating to Securities, engaging in any lawful activity for which limited liability companies may be formed under the Delaware Act, and engaging in any and all activities necessary or incidental to the foregoing. Portions of the Fund's assets (which may constitute, in the aggregate, all of the Fund's assets) may be invested in Investment Funds (including any Investment Funds that are Separately Managed Accounts) that purchase, sell, invest, and trade in Securities. The Fund may execute, deliver and perform all contracts, agreements and other undertakings and engage in all activities and transactions as the Managing Member, the Directors or the Investment Manager may deem necessary or advisable to carry out its objective or business. (b) The Fund will operate as a closed-end, management investment company in accordance with the 1940 Act and subject to any fundamental policies and investment restrictions described in the Form N-2. (c) The Fund may designate from time to time Persons to act as signatories for the Fund, including, without limitation, Persons authorized to execute and deliver any filings with the SEC or applicable federal or state regulatory authorities or self-regulatory organizations. (d) The Fund is hereby authorized to execute, deliver and perform, and the Managing Member on behalf of the fund is hereby authorized to execute and deliver, subject to the 1940 Act and any required approval of the Board of Directors, (1) a subscription agreement with each Person being admitted to the Fund as a Member, (2) a Custodian Services Agreement with PFPC Trust Company, (3) an Administration Agreement with PFPC Inc., (4) an Escrow Agreement with PFPC Inc., (5) an Investment Management Agreement with X.X. Xxxxxx Alternative Asset Management, Inc., (6) an Expense Limitation and Reimbursement Agreement with X.X. Xxxxxx Alternative Asset Management, Inc., and (7) all documents, agreements, certificates or financing statements contemplated thereby or related thereto, in each case without further act, vote or approval of any Member or other Person notwithstanding any other provision of this Agreement. The foregoing authorization shall not be deemed a restriction on the powers of the Fund or the Managing Member on behalf of the Fund to enter into other agreements.

Business of the Fund. (a) The Fund was formed, and is hereby continued, for the object and purpose of (and the nature of the business to be conducted by the Fund is) purchasing, selling, investing and trading in Securities and engaging in any financial or derivative transactions relating to Securities, engaging in any lawful activity for which limited liability companies may be formed under the Delaware Act, and engaging in any and all activities necessary or incidental to the foregoing. Portions of the Fund's ’s assets (which may constitute, in the aggregate, all of the Fund's ’s assets) may be invested in Investment Funds (including any Investment Funds that are Separately Managed Accounts) that purchase, sell, invest, and trade in Securities. The Fund may execute, deliver and perform all contracts, agreements and other undertakings and engage in all activities and transactions as the Managing Member, the Directors or the Investment Manager may deem necessary or advisable to carry out its objective or business. (b) The Fund will operate as a closed-end, management investment company in accordance with the 1940 Act and subject to any fundamental policies and investment restrictions described in the Form N-2. (c) The Fund may designate from time to time Persons to act as signatories for the Fund, including, without limitation, Persons authorized to execute and deliver any filings with the SEC or applicable federal or state regulatory authorities or self-regulatory organizations. (d) The Fund is hereby authorized to execute, deliver and perform, and the Managing Member on behalf Officers of the fund is Fund are hereby authorized to execute and deliver, subject to the 1940 Act and any required approval of the Board of Directors, , (1) a subscription agreement with each Person being admitted to the Fund as a Member, (2) any agreement between the Fund and a Custodian Services Agreement with PFPC Trust Company, (3) an Administration Agreement with PFPC Inc., (4) an Escrow Agreement with PFPC Inc., (5) an Investment Management Agreement with X.X. Xxxxxx Alternative Asset Management, Inc., (6) an Expense Limitation and Reimbursement Agreement with X.X. Xxxxxx Alternative Asset Management, Inc.service provider, and (73) all documents, agreements, certificates or financing statements contemplated thereby or related thereto, in each case without further act, vote or approval of any Member or other Person notwithstanding any other provision of this Agreement. The foregoing authorization shall not be deemed a restriction on the powers of the Fund or the Managing Member on behalf of the Fund to enter into other agreements.

Business of the Fund. (a) The Fund was formed, and is hereby continued, for the object and purpose of (and the nature of the business to be conducted by the Fund is) purchasing, selling, investing and trading in Securities and engaging in any financial or derivative transactions relating to Securities, engaging in any lawful activity for which limited liability companies may be formed under the Delaware Act, and engaging in any and all activities necessary or incidental to the foregoing. Portions of the Fund's assets (which may constitute, in the aggregate, all of the Fund's assets) may be invested in Investment Funds (including any Investment Funds that are Separately Managed Accounts) that purchase, sell, invest, and trade in Securities. The Fund may execute, deliver and perform all contracts, agreements and other undertakings and engage in all activities and transactions as the Managing Member, the Directors or the Investment Manager may deem necessary or advisable to carry out its objective or business. (b) The Fund will operate as a closed-end, management investment company in accordance with the 1940 Act and subject to any fundamental policies and investment restrictions described in the Form N-2. (c) The Fund may designate from time to time Persons to act as signatories for the Fund, including, without limitation, Persons authorized to execute and deliver any filings with the SEC Securities and Exchange Commission or applicable federal or state regulatory authorities or self-regulatory organizations. (d) The Fund is hereby authorized to execute, deliver and perform, and the Managing Member on behalf of the fund is hereby authorized to execute and deliver, subject to the 1940 Act and any required approval of the Board of Directors, (1) a subscription agreement with each Person being admitted to the Fund as a Member, (2) a Custodian Services Agreement with PFPC Trust Company, (3) an Administration Agreement with PFPC Inc., (4) an Escrow Agreement with PFPC Inc.Inc, (5) an Investment Management Agreement with X.X. Xxxxxx Alternative Asset Management, Inc., (6) an Expense Limitation and Reimbursement Agreement with X.X. Xxxxxx J.P. Morgan Alternative Asset Management, Inc., and (76) all documentsdocuxxxxx, agreementsxxxxements, certificates or financing statements contemplated thereby or related thereto, in each case without further act, vote or approval of any Member or other Person notwithstanding any other provision of this Agreement. The foregoing authorization shall not be deemed a restriction on the powers of the Fund or the Managing Member on behalf of the Fund to enter into other agreements.