Common use of Covenants of the Adviser Clause in Contracts

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, except as provided by the Declaration, and will comply with all other provisions of the Declaration and By-Laws relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the Investment Company Act of 1940 Actand the Rules, Regulations or orders thereunder, will not take a long or short position in the shares of the Fund, Fund except as provided permitted by the Declaration, and will comply with all other provisions of the Declaration and the By-Laws and the then-current Prospectus and Statement of Additional Information of the Trust relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor principal underwriter or distributor, as principals in making purchases or sales of securities or other property for the account of the FundPortfolio, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, Portfolio except as provided permitted by the Declaration, and will comply with all other provisions of the Declaration and By-Laws and the then-current Registration Statement applicable to the Portfolio relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor as principals in making purchases or sales of securities or other property for the account of the any Fund, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, any Fund except as provided by the Declaration, and will comply with all other provisions of the Declaration and By-Laws relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor Underwriter as principals in making purchases or sales of securities or other property for the account of the FundTrust, except as permitted by the Investment Company Act of 1940 Actand the Rules, Regulations or orders thereunder, will not take a long or short position in the shares of the Fund, Trust except as provided by the Declaration, Indenture of Trust and will comply with all other provisions of the Declaration and By-Laws Indenture of Trust relative to the Adviser and its Directors officers and officersdirectors.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor principal underwriter or distributor, as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, Fund except as provided permitted by the Declaration, and will comply with all other provisions of the Declaration and By-Laws and the then-current Prospectus and Statement of Additional Information applicable to the Fund relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust Fund or the Trust's distributor Underwriter as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the Investment Company Act of 1940 Actand the Rules, Regulations or orders thereunder, will not take a long or short position in the shares of the Fund, Fund except as provided by the Declaration, and will comply with all other provisions of the Declaration and By-Laws relative to the Adviser and its Directors officers and officersdirectors.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the Investment Company Act of 1940 Actand the Rules, Regulations or orders thereunder, will not take a long or short position in the shares of the Fund, Fund except as provided permitted by the Declaration, Declaration and will comply with all other provisions of the Declaration and the By-Laws and the then-current Prospectus and Statement of Additional Information of the Trust relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the 1940 ActTrust, will not take a long or short position in the shares Shares of any series of the Fund, Trust except as provided by the Declaration, Declaration and will comply with all other provisions of the Declaration and By-Laws and the then-current Prospectus of the Trust relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor principal underwriter, if any, as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, Fund except as provided permitted by the Declaration, and will comply with all other provisions of the Declaration and By-Laws and the then-current Prospectus of the Fund relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor as principals in making purchases or of sales of securities or other property for the account of the Fund, except as permitted by the 1940 ActTrust, will not take a long or short position in the shares Shares of any of the Fund, Series except as provided by the Declaration, Declaration and will comply with all other provisions of the Declaration and By-Laws and the then-current Prospectus of the Trust relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor principal underwriter or distributor, as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, Fund except as provided permitted by the Declaration, and will comply with all other provisions of the Declaration and By-Laws and the then-current Prospectus and Statement of Additional Information applicable to the Fund relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor principal underwriter or distributor, as principals in making purchases or sales of securities or other property for the account of the FundPortfolio, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, Portfolio except as provided permitted by the Declaration, and will comply with all other provisions of the Declaration and By-Laws ByLaws and the thencurrent Registration Statement applicable to the Portfolio relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not ------------------------ deal with itself, or with the Trustees of the Trust or the Trust's distributor as principals in making purchases or sales of securities or other property for the account of the any Fund, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, any Fund except as provided by the Declaration, and will comply with all other provisions of the Declaration and By-Laws relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust Account or the Trust's distributor underwriter as principals in making purchases or sales of securities or other property for the account Account of the Fund, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, Account except as provided permitted by the Declaration, and will comply with all other provisions of the Declaration and By-Laws relative to the Adviser and its Directors directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust Portfolio or the TrustPortfolio's distributor exclusive placing agent as principals in making purchases or sales of securities or other property for the account of the FundPortfolio, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, except as provided by the Declaration, and will comply with all other provisions of the Portfolio's Declaration and By-Laws and the then-current Registration Statement of the Portfolio under the 1940 Act relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor principal underwriter or distributor, as principals in making purchases or sales of securities or other property for the account of the FundPortfolio, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, Portfolio except as provided permitted by the Declaration, and will comply with all other provisions of the Declaration and ByByLaws and the then-Laws current Registration Statement applicable to the Portfolio relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust Fund or the Trust's distributor Underwriter, as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the Investment Company Act of 1940 Actand the Rules, Regulations or Orders thereunder, will not take a long or short position in the shares of the Fund, Fund except as provided by the Declaration, and will comply with all other provisions of the Declaration and By-Laws relative to the Adviser and its Directors directors and officers.

Covenants of the Adviser. The Adviser agrees that it will ------------------------------------- not deal with itself, or with the Trustees of the Trust or the Trust's distributor as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, Fund except as provided by the Declaration, and will comply with all other provisions of the Declaration and By-Laws relative to the Adviser and its Directors and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor principal underwriter or distributor, as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the 1940 Act, will not take a long or short position in the shares of the Fund, Fund except as provided permitted by the Declaration, and will comply with all other provisions of the Declaration and By-Laws and the then-current Registration Statement applicable to the Fund relative to the Adviser and its Directors Trustees and officers.

Covenants of the Adviser. The Adviser agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's distributor as principals in making purchases or sales of securities or other property for the account of the Fund, except as permitted by the 1940 ActTrust, will not take a long or short position in the shares Shares of any of the Fund, Series except as provided by the Declaration, Declaration and will comply with all other provisions of the Declaration and By-Laws and the then-current Prospectus of the Trust relative to the Adviser and its Directors and officers.