Delegation of Services. The Manager may, at its expense, select and contract with one or more investment advisers registered under the Investment Advisers Act of 1940 ("Sub-Advisers") to perform some or all of the services for the Trust for which it is responsible under this Agreement. The Manager will compensate any Sub-Adviser for its services to the Trust. The Manager may terminate the services of any Sub-Adviser at any time in its sole discretion, and shall at such time assume the responsibilities of such Sub-Adviser unless and until a successor Sub-Adviser is selected and the requisite approval of the Trust's shareholders is obtained. The Manager will continue to have responsibility for all advisory services furnished by any Sub-Adviser.
Appears in 4 contracts
Samples: Investment Management Agreement (Franklin Templeton Limited Duration Income Trust), Investment Management Agreement (Franklin Mutual Recovery Fund), Investment Management Agreement (Franklin Mutual Recovery Fund)
