Common use of Delegation by Manager Clause in Contracts

Delegation by Manager. The Manager shall have the power and authority to delegate to one or more Persons, agents and employees, such rights and powers to manage and control the business and affairs of the Fund as the Manager determines in the Manager’s sole discretion. The Manager shall have the power and authority, in its sole discretion, to appoint individuals to serve as officers of the Fund from time to time and determine their respective powers and authorities. Subject to the rights, if any, of any such Person under an employment agreement or other contract with the Fund, the power and authority of any such Person, agent or employee may be reduced or terminated, either with or without cause, by the Manager at any time in the Manager’s sole discretion.