Common use of Delegation of Responsibilities Clause in Contracts

Delegation of Responsibilities. Upon the request of the Directors, the Investment Manager may perform services on behalf of the Company which are not required by this Agreement. Such services will be performed on behalf of the Company and the Investment Manager's cost in rendering such services may be billed monthly to the Company, subject to examination by the Company's independent accountants. Payment or assumption by the Investment Manager of any Company expense that the Investment Manager is not required to pay or assume under this Agreement shall not relieve the Investment Manager of any of its obligations to the Company nor obligate the Investment Manager to pay or assume any similar Company expense on any subsequent occasion.

Delegation of Responsibilities. Upon the request of the Directors, the Investment Manager may perform services on behalf of ------------------------------- the Company which are not required by this Agreement. Such services will be performed on behalf of the Company and the Investment Manager's cost in rendering such services may be billed monthly to the Company, subject to examination by the Company's independent accountants. Payment or assumption by the Investment Manager of any Company expense that the Investment Manager is not required to pay or assume under this Agreement shall not relieve the Investment Manager of any of its obligations to the Company nor obligate the Investment Manager to pay or assume any similar Company expense on any subsequent occasion.

Delegation of Responsibilities. Upon the request of the Directors, the Investment Manager may perform ------------------------------- services on behalf of the Company which are not required by this Agreement. Such services will be performed on behalf of the Company and the Investment Manager's cost in rendering such services may be billed monthly to the Company, subject to examination by the Company's independent accountants. Payment or assumption by the Investment Manager of any Company expense that the Investment Manager is not required to pay or assume under this Agreement shall not relieve the Investment Manager of any of its obligations to the Company nor obligate the Investment Manager to pay or assume any similar Company expense on any subsequent occasion.

Delegation of Responsibilities. Upon the request of the Directors, the Investment Manager may perform services ------------------------------- on behalf of the Company which are not required by this Agreement. Such services will be performed on behalf of the Company and the Investment Manager's cost in rendering such services may be billed monthly to the Company, subject to examination by the Company's independent accountants. Payment or assumption by the Investment Manager of any Company expense that the Investment Manager is not required to pay or assume under this Agreement shall not relieve the Investment Manager of any of its obligations to the Company nor obligate the Investment Manager to pay or assume any similar Company expense on any subsequent occasion.