Common use of Investment Limits Clause in Contracts

Investment Limits. In the performance of its duties and obligations under this Agreement with respect to Allocated Assets, Sub-Adviser shall act in conformity with applicable limits and requirements, as amended from time to time, as set forth in the (A) Funds’ Prospectus(es) and SAI(s) as currently in effect, including the sustainability criteria of each such Sub-Adviser as disclosed by that Fund; (B) instructions and directions of the Manager and of the Trustees; (C) requirements of the 1940 Act, the Internal Revenue Code of 1986, as amended, as applicable to each Fund, and all other applicable federal and state laws and regulations; and (D) the procedures and standards set forth in, or established in accordance with, the Advisory Agreement to the extent communicated to Sub-Adviser. In managing the Allocated Assets of each Fund, Sub-Adviser shall apply each of such limits and restrictions to that Fund’s Allocated Assets as though such assets constituted the entire Fund. Notwithstanding the foregoing, Sub-Adviser shall not be responsible to the Manager or the Funds for any Fund’s investment adherence to a percentage restriction contained in the Fund’s investment objective(s) or investment restrictions as set forth in the Funds’ currently effective Prospectus(es) and SAI(s) with respect to the portion of the Fund’s assets which is not allocated to Sub-Adviser.

Investment Limits. In the performance of its duties and obligations under Section (1)(b) of this Agreement with respect to Allocated Assets, Sub-Adviser shall act in conformity with applicable limits and requirements, as amended from time to time, as set forth in the (A) Funds’ Prospectus(es) and SAI(s) as currently in effect, including the sustainability criteria of each such Sub-Adviser as disclosed by that Fund; (B) instructions and directions of the Manager and of the Trustees; (C) requirements of the 1940 Act, the Internal Revenue Code of 1986, as amended, as applicable to each Fund, and all other applicable federal and state laws and regulations; and (D) the procedures and standards set forth in, or established in accordance with, the Advisory Agreement to the extent communicated to Sub-Adviser. In managing the Allocated Assets of each Fund, Sub-Adviser shall apply each of such limits and restrictions to that Fund’s Allocated Assets as though such assets constituted the entire Fund. Notwithstanding the foregoing, Sub-Adviser shall not be responsible to the Manager or the Funds for any Fund’s investment adherence to a percentage restriction contained in the Fund’s investment objective(s) or investment restrictions as set forth in the Funds’ currently effective Prospectus(es) and SAI(s) with respect to the portion of the Fund’s assets which is not allocated to Sub-Adviser.