Common use of Chairman and Vice Chairman of the Board Clause in Contracts

Chairman and Vice Chairman of the Board. The Board shall choose a Chairman of the Board from among the Managers. The Chairman shall not be an officer of the Fund. The Chairman cannot be an "interested" person of the Fund, or of any investment adviser to the Fund, within the meaning of the Investment Company Act of 1940. The Chairman of the Board shall preside at all meetings of the Board and of the Shareholders at which the Chairman is present. The Chairman shall have and may exercise such powers as are, from time to time, assigned to him or her by the Board. The Board may choose a Vice Chairman of the Board from among the Managers. The Vice Chairman of the Board, if one be elected, shall, when present and in the absence of the Chairman of the Board, preside at all meetings of the Shareholders and Managers, and the Vice Chairman shall perform such other duties as may from time to time be assigned to him or her by the Board or as may be required by law.

Chairman and Vice Chairman of the Board. The Board of Trustees shall choose a Chairman of the Board from among the ManagersTrustees. The Chairman shall not be an officer of the FundTrust. The Chairman cannot be an "interested" person of the FundTrust, or of any investment adviser to the FundTrust, within the meaning of the Investment Company Act of 1940. The Chairman of the Board shall preside at all meetings of the Board of Trustees and of the Shareholders at which the Chairman is present. The Chairman shall have and may exercise such powers as are, from time to time, assigned to him or her by the BoardBoard of Trustees. The Board of Trustees may choose a Vice Chairman of the Board from among the ManagersTrustees. The Vice Chairman of the Board, if one be elected, shall, when present and in the absence of the Chairman of the Board, preside at all meetings of the Shareholders and ManagersTrustees, and the Vice Chairman shall perform such other duties as may from time to time be assigned to him or her by the Board of Trustees or as may be required by law.

Chairman and Vice Chairman of the Board. The Board of Trustees shall choose a Chairman of the Board from among the ManagersTrustees. The Chairman shall not be an officer of the FundTrust. The Chairman cannot be an "“interested" ” person of the FundTrust, or of any investment adviser to the FundTrust, within the meaning of the Investment Company Act of 1940. The Chairman of the Board shall preside at all meetings of the Board of Trustees and of the Shareholders at which the Chairman is present. The Chairman shall have and may exercise such powers as are, from time to time, assigned to him or her by the BoardBoard of Trustees. The Board of Trustees may choose a Vice Chairman of the Board from among the ManagersTrustees. The Vice Chairman of the Board, if one be elected, shall, when present and in the absence of the Chairman of the Board, preside at all meetings of the Shareholders and ManagersTrustees, and the Vice Chairman shall perform such other duties as may from time to time be assigned to him or her by the Board of Trustees or as may be required by law.

Chairman and Vice Chairman of the Board. The Board of Trustees shall choose a Chairman of the Board from among the ManagersTrustees. The Chairman shall not be an officer of the FundTrust. The Chairman cannot be an "interested" person of the FundTrust, or of any investment adviser to the FundTrust, within the meaning of the Investment Company Act of 1940. The Chairman of the Board shall preside at all meetings of the Board of Trustees and of the Shareholders at which the Chairman is present. The Chairman shall have and may exercise such powers as are, from time to time, assigned to him or her by the BoardBoard of Trustees. The Board of Trustees may choose a Vice Chairman of the Board from among the ManagersTrustees. The Vice Chairman of the Board, if one be elected, shall, when present and in the absence of the Chairman of the Board, preside at all meetings of the Shareholders and ManagersTrustees, and the Vice Chairman shall perform such other duties as may from time to time be assigned to him or her by the Board of Trustees or as may be required by law.

Chairman and Vice Chairman of the Board. The Board shall choose a Chairman of the Board from among the Managers. The Chairman shall not be an officer of the Fund. The Chairman cannot be an "“interested" ” person of the Fund, or of any investment adviser to the Fund, within the meaning of the Investment Company Act of 1940. The Chairman of the Board shall preside at all meetings of the Board and of the Shareholders at which the Chairman is present. The Chairman shall have and may exercise such powers as are, from time to time, assigned to him or her by the Board. The Board may choose a Vice Chairman of the Board from among the Managers. The Vice Chairman of the Board, if one be elected, shall, when present and in the absence of the Chairman of the Board, preside at all meetings of the Shareholders and Managers, and the Vice Chairman shall perform such other duties as may from time to time be assigned to him or her by the Board or as may be required by law.