Common use of Delegation of Services Clause in Contracts

Delegation of Services. The Manager may, at its expense, select and contract with one or more subadvisers registered under the Investment Advisers Act of 1940 (“Subadvisers”) to perform some or all of the services for the Fund for which it is responsible under this Agreement or as the Manager may otherwise determine to be necessary or appropriate to seek to implement the Fund’s investment goals and strategies. The Manager will compensate any Subadviser for its services to the Fund. The Manager will evaluate the Subadvisers and will make recommendations to the Board about the hiring, termination and replacement of a Subadviser. The Manager also may terminate the services of any Subadviser at any time in its sole discretion, and shall at such time assume the responsibilities of such Subadviser unless and until a successor Subadviser is selected and the requisite approval of the Fund’s shareholders, if any is required, is obtained. Notwithstanding any delegation pursuant to this paragraph or Section 6.A. of this Agreement, the Manager will continue to have responsibility and liability for all advisory services furnished by any Subadviser and will supervise each Subadviser in its performance of its duties for the Fund with a view to preventing violations of the federal securities laws.

Delegation of Services. The Manager may, at its expense, select and contract with one or more subadvisers investment advisers registered under the Investment Advisers Act of 1940 (“SubadvisersSub-Advisers”) to perform some or all of the services for the Fund for which it is responsible under this Agreement or as the Manager may otherwise determine to be necessary or appropriate to seek to implement the Fund’s investment goals and strategies. The Manager will compensate any Subadviser Sub-Adviser for its services to the Fund. The Manager will evaluate the Subadvisers Sub-Advisers and will make recommendations to the Board about the hiring, termination and replacement of a SubadviserSub-Adviser. The Manager also may terminate the services of any Subadviser Sub-Adviser at any time in its sole discretion, and shall at such time assume the responsibilities of such Subadviser Sub-Adviser unless and until a successor Subadviser Sub-Adviser is selected and the requisite approval of the Fund’s shareholders, if any is required, shareholders is obtained. Notwithstanding any delegation pursuant to this paragraph or Section 6.A. of this Agreement, the Manager will continue to have responsibility and liability for all advisory services furnished by any Subadviser Sub-Adviser and will supervise each Subadviser Sub-Adviser in its performance of its duties for the Fund with a view to preventing violations of the federal securities laws.