Common use of Employment of Administrator Clause in Contracts

Employment of Administrator. The Corporation hereby employs the Administrator to act as administrator of the Corporation, and to furnish, or arrange for others to furnish, the administrative services, personnel and facilities described below, subject to review by and the overall control of the Board of Directors of the Corporation, for the period and on the terms and conditions set forth in this Agreement. The Administrator hereby accepts such employment and agrees during such period to render, or arrange for the rendering of, such services and to assume the obligations herein set forth subject to the reimbursement of costs and expenses provided for below. The Administrator and such others shall for all purposes herein be deemed to be independent contractors and shall, unless otherwise expressly provided or authorized herein, have no authority to act for or represent the Corporation in any way or otherwise be deemed agents of the Corporation. It is understood and agreed that the Administrator is acting hereunder for its own separate account and not as the managing member of the Adviser.

Employment of Administrator. The Corporation hereby employs the --------------------------- Administrator to act as a manager and administrator of the Corporationeach Fund, and to furnish, or arrange for others affiliates to furnish, the management and administrative services, personnel and facilities services described below, subject to review by and the overall control of the Board of Directors of the CorporationDirectors, for the period and on the terms and conditions set forth in this Agreement. The Administrator hereby accepts such employment and agrees during such period period, at its own expense, to render, or arrange for the rendering of, such services and to assume the obligations herein set forth subject to for the reimbursement of costs and expenses compensation provided for belowherein. The Administrator and such others its affiliates shall for all purposes herein be deemed to be independent contractors and shall, unless otherwise expressly provided or authorized hereinauthorized, have no authority to act for or represent the Corporation or any Fund in any way or otherwise be deemed agents of the Corporation. It is understood and agreed that the Administrator is acting hereunder for its own separate account and not as the managing member of the AdviserCorporation or any Fund.