Common use of Covenants of the Manager Clause in Contracts

Covenants of the Manager. The Manager agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's principal underwriter or distributor, as principals in making purchases or sales of securities, options, futures, 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 shares of beneficial interest of the Fund except as 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 Manager and its partners and officers. The Manager shall notify the Trust of any change in the partners of the Manager within a reasonable time after such change.

Covenants of the Manager. The Manager agrees that it will not deal with itself, or with the Trustees of the Trust or the Trust's principal underwriter or distributor, if any, as principals in making purchases or sales of securities, options, futures, 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 shares of beneficial interest interests of the Fund Portfolio except as 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 Portfolio relative to the Manager and its partners and officers. The Manager shall notify the Trust of any change in the partners of the Manager within a reasonable time after such change.