Common use of Independent Agent Clause in Contracts

Independent Agent. It is understood and agreed that the Sub-Advisor shall be an independent contractor of the Advisor and the Trust and, except as specifically provided in this Agreement, that the Sub-Advisor shall not have authority to act for or represent the Advisor or the Trust in any way and shall not otherwise be deemed to be an agent of the Advisor or the Trust. Nothing contained herein shall create or constitute the Sub-Advisor and the Advisor or Trust as members of any partnership, joint venture, association, syndicate, unincorporated business, or other separate entity, nor shall anything contained herein be deemed to confer on any of them any express, implied, or apparent authority to incur any obligation or liability on behalf of any other such entity.

Independent Agent. It is understood and agreed that the Sub-Advisor Adviser shall be an independent contractor of the Advisor and the Trust Adviser and, except as specifically provided in this Sub-Advisory Agreement, that the Sub-Advisor Adviser shall not have authority to act for or represent the Advisor Adviser or the Trust in any way and shall not otherwise be deemed to be an agent of the Advisor Adviser or the Trust. Nothing contained herein shall create or constitute the Sub-Advisor Adviser and the Advisor Adviser or Trust as members of any partnership, joint venture, association, syndicate, unincorporated business, or other separate entity, nor shall anything contained herein be deemed to confer on any of them any express, implied, or apparent authority to incur any obligation or liability on behalf of any other such entity.