Common use of Good Standing of the Investment Advisor Clause in Contracts

Good Standing of the Investment Advisor. The Investment Advisor has been duly organized and is validly existing and in good standing as a limited liability company under the laws of Delaware with full limited liability company power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and the Investment Advisor is duly qualified as a foreign limited liability company to transact business and is in good standing in each other jurisdiction in which such qualification is required, except to the extent that failure to be so qualified and in good standing would not have a Material Adverse Effect on the Investment Advisor's ability to provide services to the Fund.

Good Standing of the Investment Advisor. The Investment Advisor has been duly organized and is validly existing and in good standing as a limited liability company corporation under the laws of Delaware the State of Delaware, with full limited liability company corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and the Investment Advisor is duly qualified as a foreign limited liability company corporation to transact business and is in good standing in each other jurisdiction in which such qualification is required, except to the extent that failure to be so qualified and in good standing would not reasonably be expected to have a Material Adverse Effect on the Investment Advisor's ability to provide services to the FundTrust pursuant to the Investment Advisory Agreement.