Covenants by the Sub-Adviser Clause Samples
The "Covenants by the Sub-Adviser" clause sets out the specific promises and obligations that the sub-adviser agrees to uphold under the agreement. These covenants typically include requirements such as adhering to investment guidelines, maintaining necessary licenses, providing regular reports, and acting in the best interests of the client or fund. By clearly outlining these duties, the clause ensures that the sub-adviser’s responsibilities are transparent and enforceable, thereby protecting the interests of the client and promoting accountability.
Covenants by the Sub-Adviser. The Sub-Adviser agrees with respect to the services provided to the Fund that it:
(a) its retention as a Sub-Adviser, with respect to the investment of a portion of the properties held by the Fund, as determined by the Adviser, is authorized by its governing documents, and the terms of this Agreement do not violate any obligation by which the Sub-Adviser is bound, whether arising by contract, operation of law or otherwise;
(b) will maintain its status as a Registered Investment Adviser with the Securities and Exchange Commission;
(c) will conform with all Rules and Regulations of the Securities and Exchange Commission;
(d) will telecopy trade information to the Fund’s designated Fund Accountant no later than the first business day following the day of the trade and cause broker confirmations to be sent directly to the Fund’s designated Fund Accountant and adopt such other trade reporting, settlement and clearance procedures with respect to the Fund as shall be in accordance with the Fund’s existing procedures and as mutually agreed by the parties hereto; and
(e) will treat confidentially and as proprietary information of the Fund all records and other information relative to the Fund and prior, present or potential shareholders, and will not use such records and information for any purpose other than performance of its responsibilities and duties hereunder (except i) after prior written notification to the Trust, to respond to requests that are a part of routine regulatory audits or inspections or ii) after prior notification to and approval in writing by the Trust, which approval shall not be unreasonably withheld, and may not be withheld and will be deemed granted where the Sub-Adviser may be exposed to civil or criminal contempt proceedings for failure to comply, when requested to divulge such information by duly constituted authorities, or when so requested by the Trust); and
(f) will maintain its own Code of Ethics and report to the Adviser’s Compliance Officer any violation of such Code that pertains to the management of the Fund, via a periodic compliance certification.
(g) will maintain its own compliance program or manual, pursuant to Rule 206(4) -7 of the Investment Advisers Act. The Sub-Adviser will provide either the manual or a summary thereof, including and updates thereto, to the Adviser’s Compliance Officer.
Covenants by the Sub-Adviser. The Sub-Adviser agrees with respect to the services provided to the Fund that it:
(a) will maintain its status as a Registered Investment Adviser with the Securities and Exchange Commission;
(b) will conform with all Rules and Regulations of the Securities and Exchange Commission;
(c) will telecopy trade information to the Fund’s designated Fund Accountant no later than the first business day following the day of the trade and cause broker confirmations to be sent directly to the Fund’s designated Fund Accountant and adopt such other trade reporting, settlement and clearance procedures with respect to the Fund as shall be in accordance with the Fund’s existing procedures and as mutually agreed by the parties hereto; and
(d) will treat confidentially and as proprietary information of the Fund all records and other information relative to the Fund and prior, present or potential shareholders, and will not use such records and information for any purpose other than performance of its responsibilities and duties hereunder (except alter prior notification to and approval in writing by AIP Funds, which approval shall not be unreasonably withheld, and may not be withheld and will be deemed granted where the Sub-Adviser may be exposed to civil or criminal contempt proceedings for failure to comply, when requested to divulge such information by duly constituted authorities, or when so requested by AIP Funds); and
(e) will maintain its own Code of Ethics and report to the Adviser’s Compliance Officer any violation of such Code.
Covenants by the Sub-Adviser. The Sub-Adviser agrees with respect to the services provided to the Fund that it will:
(a) conform with all Rules and Regulations of the Securities and Exchange Commission;
(b) telecopy trade information to the Adviser on the first business day following the day of the trade and cause broker confirmations to be sent directly to the Adviser; and
(c) treat confidentially and as proprietary information of the Trust all records and other information relative to the Trust and prior, present or potential shareholders, and not use such records and information for any purpose other than performance of its responsibilities and duties hereunder (except after prior notification to and approval in writing by the Trust, which approval shall not be unreasonably withheld and may not be withheld and will be deemed granted where the Sub-Adviser may be exposed to civil or criminal contempt proceedings for failure to comply, when requested to divulge such information by duly constituted authorities, or when so requested by the Trust).
Covenants by the Sub-Adviser. The Sub-Adviser agrees with respect to the services provided to the Fund that it will:
(a) Maintain its status as a Registered Investment Advisor with the Securities and Exchange Commission;
(b) Conform with all applicable provisions of the 1940 Act and all other applicable rules and regulations promulgated by the Securities and Exchange Commission;
(c) Telecopy trade information to the Fund's designated Fund Accountant no later than the first business day following the day of the trade, cause broker confirmations to be sent directly to the Fund's designated Fund Accountant and adopt such other trade reporting, settlement and clearance procedures with respect to the Fund as shall be mutually agreed by the parties hereto; and
(d) Treat confidentially all records and other information relative to the Fund and its prior, present or potential shareholders;
(e) Refrain from any use of any Fund information for any purpose other than performance of its responsibilities and duties hereunder (except after prior notification to and approval in writing by Agile, which approval shall not be unreasonably withheld); and
(f) Maintain its own Code of Ethics, a copy of which shall be provided to the Adviser (including any amendments thereto), and report to the Adviser's Compliance Officer any violation of such Code as it relates in any way to the Fund.
Covenants by the Sub-Adviser. The Sub-Adviser agrees with respect to the services provided to the Fund that it will:
Covenants by the Sub-Adviser. The Sub-Adviser agrees with respect to the services provided to the Fund that it will:
(a) Maintain its status as a Registered Investment Adviser with the Securities and Exchange Commission;
(b) Conform with all applicable provisions of the 1940 Act and the Investment Advisers Act of 1940 and all other applicable rules and regulations promulgated by the Securities and Exchange Commission;
(c) Telecopy trade information to the Fund's designated Fund Accountant within the time frame specified by the Adviser so as to permit the timely calculation of the Fund's net asset value, cause broker confirmations to be sent directly to the Fund's designated Fund Accountant and adopt such other trade reporting, settlement and clearance procedures with respect to the Fund as shall be mutually agreed by the parties hereto; and
(d) Treat confidentially all records and other information relative to the Fund and its prior, present or potential shareholders;
(e) Refrain from any use of any Fund information for any purpose other than performance of its responsibilities and duties hereunder (except after prior notification to and approval in writing by Agile, which approval shall not be unreasonably withheld); and
(f) Maintain its own Code of Ethics, a copy of which shall be provided to the Adviser (including any amendments thereto), and report to the Adviser's Compliance Officer any violation of such Code as it relates in any way to the Fund.