Common use of Business of the Fund Clause in Contracts

Business of the Fund. (a) The business of the Fund is to purchase, sell (including short sales), invest and trade in Securities, on margin or otherwise, and to engage in any financial or derivative transactions relating thereto or otherwise, and to engage in such activities and transactions as the Board of Directors may deem necessary or advisable in connection therewith, including: (1) To engage in any other activities for which limited liability companies may be organized under Illinois law; (2) To enter into, make and perform all contracts and other undertakings, and engage in all activities and transactions as may be necessary or advisable to effectuate the foregoing purpose, including without limitation: (i) To purchase, transfer, pledge and otherwise acquire and dispose of and exercise all rights, powers, privileges and other incidents of ownership or possession with respect to the assets of the Fund; (ii) To acquire, purchase, hold and sell Securities, increasing, decreasing or liquidating such positions in such Securities without any limitation as to the frequency or the fluctuation in such positions; (iii) To borrow money, on a secured or unsecured basis, from banks or brokers, and to secure the payment of any obligations of the Fund by hypothecation or pledge of all or part of the Fund's assets; (iv) To open, maintain and close bank, brokerage and other accounts with any broker-dealer and to effect transactions through such accounts; and (v) To take such actions as may be necessary or advisable in connection with the foregoing, including the hiring of personnel, the retention of investment advisers or sub-advisers, agents, independent contractors, legal and accounting counselors, and the preparation and filing of all Fund tax returns. (b) The Fund shall operate as a closed-end, non-diversified, management investment company in accordance with the 1940 Act and subject to such fundamental policies and investment restrictions as may be adopted by the Board of Directors and in accordance with the 1940 Act.