Common use of GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY Clause in Contracts

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk BOARD'S CONCLUSIVE DETERMINATION REGARDING COUNTRY RISK In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisor, pursuant to authority delegated by Board) hashas Monitored, and will continue toto Monitor, Monitor such Country Risk to the extent Board (or such investment adviser) deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk BOARD'S CONCLUSIVE DETERMINATION REGARDING COUNTRY RISK In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing Nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or FundTrust's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund Trust and FundTrust's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or FundTrust's investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund Trust that would entail consideration of Country Risk.

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk BOARD'S CONCLUSIVE DETERMINATION REGARDING COUNTRY RISK In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisoradviser, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisoradviser, pursuant to authority delegated by Board) hashas Monitored, and will continue toto Monitor, Monitor such Country Risk to the extent Board (or such investment adviser) deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisoradviser or subadviser, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisoradviser or subadviser, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that the Board (or each Fund's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to each Fund and each Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that the Board (or each Fund's investment advisor, pursuant to authority delegated by the Board) has, and will continue to, Monitor such Country Risk to the extent the Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of any Fund that would entail consideration of Country Risk.

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk BOARD'S CONCLUSIVE DETERMINATION REGARDING COUNTRY RISK In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisoradviser, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisoradviser, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk ------------------------------------------------------- In exercising its delegated authority under this Agreement, Delegate may assume, for all purposes, that Board (or Fund's investment advisor, pursuant to authority delegated by Board) has considered, and pursuant to its fiduciary duties to Fund and Fund's shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, Delegate may also assume that Board (or Fund's investment advisor, pursuant to authority delegated by Board) has, and will continue to, Monitor such Country Risk to the extent Board deems necessary or appropriate. Except as specifically described herein, nothing Nothing in this Agreement shall require Delegate to make any selection or to engage in any Monitoring on behalf of Fund that would entail consideration of Country Risk.

GUIDELINES AND PROCEDURES FOR THE EXERCISE OF DELEGATED AUTHORITY. a. Board's Conclusive Determination Regarding Country Risk In exercising its delegated authority under this Agreement, the Delegate may assume, for all purposes, that the Board (or Funda Portfolio's investment advisoradviser, pursuant to authority delegated by the Board) has considered, and pursuant to its fiduciary duties to the Fund and Fund's the Portfolios' shareholders, determined to accept, such Country Risk as is incurred by placing and maintaining Foreign Assets in the jurisdictions to which this Agreement applies. In exercising its delegated authority under this Agreement, the Delegate may also assume that the Board (or the Fund's investment advisoradviser, pursuant to authority delegated by the Board) has, and will continue to, Monitor such Country Risk to the extent the Board deems necessary or appropriate. Except as specifically described herein, nothing Nothing in this Agreement shall require the Delegate to make any selection or to engage in any Monitoring on behalf of the Fund that would entail consideration of Country Risk.