Common use of Duties of the Investment Manager Clause in Contracts

Duties of the Investment Manager. The Fund hereby appoints the Investment Manager to act as investment adviser for the period and on such terms set forth in this Agreement. The Fund employs the Investment Manager to manage the investment and reinvestment of the Fund's assets, to continuously review, supervise and administer the investment program of the Fund to determine in its discretion the securities to be purchased or sold and the portion of the Fund's assets to be held uninvested, to provide the Fund with records concerning the Investment Manager's activities which the Fund is required to maintain, and to render regular reports to the Fund's Directors concerning the Investment Manager's discharge of the foregoing responsibilities. The Investment Manager accepts such employment and shall discharge the foregoing responsibilities subject to the control of the Directors of the Fund, and in compliance with the objectives, policies and limitations set forth in the Fund's prospectus as amended or supplemented from time to time (the "Prospectus"), and applicable laws and regulations.

Duties of the Investment Manager. The Fund hereby appoints the Investment Manager to act as investment adviser for the period and on such terms set forth in this Agreement. The Fund employs the Investment Manager to manage the investment and reinvestment of the Fund's assets, to continuously review, supervise and administer the investment program of the Fund to determine in its discretion the securities to be purchased or sold and the portion of the Fund's assets to be held uninvested, to provide the Fund with records concerning the Investment Manager's activities which the Fund is required to maintain, and to render regular reports to the Fund's Directors concerning the Investment Manager's discharge of the foregoing responsibilities. The Investment Manager accepts such employment and shall discharge the foregoing responsibilities subject to the control of the Directors of the Fund, and in compliance with the objectives, policies and limitations set forth in the Fund's prospectus as amended or supplemented from time to time (the "Prospectus"), and applicable laws and regulationsregulations and in compliance with the Fund's Operating Agreement.