Duties as Manager Sample Clauses
The "Duties as Manager" clause defines the responsibilities and obligations of the individual or entity acting as the manager within an agreement. It typically outlines the manager's authority to make decisions, oversee operations, and act in the best interests of the business or partnership, often requiring them to exercise reasonable care and diligence. This clause ensures that all parties understand the manager's role and the standards they are expected to uphold, thereby promoting accountability and reducing the risk of mismanagement.
Duties as Manager. Subject to the supervision of the Directors of the Company, the Manager shall administer each Fund's business affairs and manage the investment operations of the Fund and the composition of the portfolio of the Fund, including the purchase, retention and disposition of securities therein, in accordance with the investment objectives, policies and restrictions of the Fund, as stated in the currently effective Prospectus (as hereinafter defined) and subject to the following understandings:
A. The Manager shall (i) furnish the Funds with office facilities; (ii) be responsible for the financial and accounting records required to be maintained by the Funds (excluding those being maintained by the Funds' Custodian, Transfer Agent except as to which the Manager has supervisory functions) and other than those being maintained by the Funds' subadvisor, if any; and (iii) furnish the Funds with ordinary clerical, bookkeeping and recordkeeping services at such office facilities.
B. The Manager shall provide supervision of each Fund's investments and determine from time to time what investments or securities will be purchased, retained, sold or lent by the Fund, and what portion of the Fund's assets will be invested or held uninvested as cash.
C. The Manager shall use its best judgment in the performance of its duties under this Agreement.
D. The Manager, in the performance of its duties and obligations under this Agreement, shall act in conformity with the Articles of Incorporation, By-Laws and Prospectus (each as hereinafter defined) of the Company and with the instructions and directions of the Directors of the Company and will conform to and comply with the requirements of the 1940 Act and all other applicable federal and state laws and regulations.
E. The Manager, and any subadvisor to whom such authority has been delegated, shall determine the securities to be purchased or sold by the Funds and will place orders pursuant to its determination with or through such persons, brokers or dealers (including NYLIFE Securities Inc.) in conformity with the policy with respect to brokerage as set forth in the Company's Registration Statement and Prospectus (each as hereinafter defined) or as the Directors may direct from time to time. It is recognized that, in providing the Funds with investment supervision or the placing of orders for portfolio transactions, the Manager or any subadvisor will give primary consideration to securing the most favorable price and efficient exe...
Duties as Manager. Subject to the supervision of the Directors of the Company, the Manager shall administer each Fund’s business affairs and manage the investment operations of the Fund and the composition of the portfolio of the Fund, including the purchase, retention and disposition of securities therein, in accordance with the investment objectives, policies and restrictions of the Fund, as stated in the currently effective Prospectus (as hereinafter defined); in conformity with the Articles of Incorporation and By-Laws (each as hereinafter defined) of the Company; under the instructions and directions of the Directors of the Company; and in accordance with the applicable provisions of the 1940 Act and the rules and regulations thereunder, the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), relating to regulated investment companies and all rules and regulations thereunder, and all other applicable federal and state laws and regulations. In connection with the services provided under this Agreement, the Manager will use best efforts to manage each Fund so that it will qualify as a regulated investment company under Subchapter M of the Code and regulations issued under the Code. The Manager will also monitor, to the extent not monitored by another agent, each Fund’s compliance with its investment and tax guidelines and other compliance policies. In managing each Fund in accordance with the requirements set out in this Section, the Manager will be entitled to receive and act upon advice of counsel for the Company or a Fund.
Duties as Manager. Lucor's duties under this Agreement shall include providing management services to the diabetes disease management and microsampling businesses operated by the Company, the Subsidiaries and Diabetes Management Services, Inc., with overall responsibility for the management of such businesses, subject to the direction and oversight of the Chief Executive Officer of the Company (the "Services"). Services shall include, without limitation, identifying and implementing other acquisition opportunities or joint ventures and business development projects agreed upon by Lucor and the Company's Chief Executive Officer. Lucor agrees that substantially the full-time services of its officer, MJG, will be included in the Services provided hereunder.
Duties as Manager. Chancellor LGT will manage the affairs of the Fund subject to the supervision of the Trust's Board of Trustees ("Board") and the following understandings:
(a) Chancellor LGT will be responsible for the daily allocation and periodic rebalancing of the Fund's assets among the investment companies in which the Fund invests ("Underlying Funds"). Such allocation and rebalancing shall be made in accordance with the Trust's Registration Statement. Chancellor LGT will be responsible for placing all trades on behalf of the Fund. Chancellor LGT also will determine from time to time what other securities, if any, will be purchased, retained or sold by the Fund and what cash, if any, will be retained by the Fund.
(b) Chancellor LGT will oversee the maintenance of all books and records with respect to the securities transactions of the Fund and will furnish the Board with such periodic and special reports as the Board reasonably may request. In compliance with the requirements of Rule 31a-3 under the 1940 Act, Chancellor LGT hereby agrees that all records which it maintains for the Fund are the property of the Fund, agrees to preserve for the periods prescribed by Rule 31a-2 under the 1940 Act any records which it maintains for the Fund and which are required to be maintained by Rule 31a-1 under the 1940 Act, and further agrees to surrender promptly to the Fund any records which it maintains for the Fund upon request by the Fund.
(c) Chancellor LGT will supervise all aspects of the operations of the Fund, including the oversight of transfer agency, custodial, pricing and accounting services, except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board of its responsibility for control of the conduct of the affairs of the Fund.
(d) At Chancellor LGT's expense, Chancellor LGT will provide the Fund with such corporate, administrative and clerical personnel (including officers of the Trust) and services as are reasonably deemed necessary or advisable by the Board.
(e) Chancellor LGT will arrange for, but not pay for (except as may be provided for under Section 6 of this Agreement) the periodic preparation, updating, filing and dissemination (as applicable) of the Fund's prospectus, proxy material, tax returns and required reports with or to the Fund's shareholders, the Securities and Exchange Commission and other appropriate federal or state regulatory authorities.
(f) Chancellor LGT will provide the Fund...