Fiduciary Obligations of Adviser. The Advisory Agreement shall provide that the Adviser has a fiduciary responsibility for the safekeeping and use of all funds and assets of the Company, whether or not in the Sponsor’s immediate possession or control, and that the Adviser shall not employ, or permit another to employ, such funds or assets in any manner except for the exclusive benefit of the Company. The Company shall not permit any Shareholder to contract away any fiduciary obligation owed by the Adviser under common law.
Appears in 7 contracts
Samples: Agreement and Declaration of Trust (TPG Twin Brook Capital Income Fund), Agreement and Declaration of Trust (PGIM Private Credit Fund), Agreement and Declaration of Trust (PGIM Private Credit Fund)
Fiduciary Obligations of Adviser. The Advisory Agreement shall provide that the Adviser Sponsor has a fiduciary responsibility for the safekeeping and use of all funds and assets of the CompanyTrust, whether or not in the Sponsor’s immediate possession or control, and that the Adviser shall not employ, or permit another to employ, such funds or assets in any manner except for the exclusive benefit of the CompanyTrust. The Company Trust shall not permit any Shareholder to contract away any fiduciary obligation owed by the Adviser under common law.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (BlackRock Private Credit Fund), Agreement and Declaration of Trust (BlackRock Private Credit Fund), Agreement and Declaration of Trust (BlackRock Private Credit Fund)
Fiduciary Obligations of Adviser. The Advisory Agreement shall provide that the Adviser has a fiduciary responsibility for the safekeeping and use of all funds and assets of the CompanyTrust, whether or not in the SponsorTrust’s immediate possession or control, and that the Adviser shall not employ, or permit another to employ, such funds or assets in any manner except for the exclusive benefit of the CompanyTrust. The Company Trust shall not permit any Shareholder to contract away any fiduciary obligation owed by the Adviser under common law.
Appears in 1 contract
Samples: Agreement and Declaration of Trust (BlackRock Private Credit Fund)
Fiduciary Obligations of Adviser. The Advisory Agreement shall provide that the Adviser and Sponsor has a fiduciary responsibility for the safekeeping and use of all funds and assets of the Company, whether or not in the SponsorAdviser’s immediate possession or control, and that the Adviser shall not employ, or permit another to employ, such funds or assets in any manner except for the exclusive benefit of the Company. The Company shall not permit any Shareholder to contract away any fiduciary obligation owed by the Adviser and Sponsor under common law.
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