Common use of Investment Objectives, Policies, Practices and Restrictions Clause in Contracts

Investment Objectives, Policies, Practices and Restrictions. (i) The investment of the assets of the Portfolio shall at all times be subject to the applicable provisions of the Articles of Incorporation, the Bylaws, the Registration Statement, the current Prospectus and the Statement of Additional Information of the Fund and shall conform to the investment objectives, policies and restrictions of the Portfolio as set forth in such documents and as interpreted from time to time by the Board of Directors of the Fund and by the Adviser, including diversification of the holdings of the Portfolio as a segregated asset account in accordance with Section 817 of the Internal Revenue Code, as amended (the "Code"), and Regulation Section 1.817-5 thereunder, provided that Adviser shall be responsible for ensuring that the Fund as a whole is "adequately diversified" if and to the extent required by Section 817(h) of the Code and Regulation 1.817-5 thereunder. (ii) Within the framework of the investment objectives, policies and restrictions of the Portfolio, and subject to the supervision of the Adviser, the Sub-Adviser shall formulate and implement an overall continuing program for managing the investment of the assets of the Portfolio, and shall amend and update such program from time to time as financial and other economic conditions warrant. (iii) Adviser agrees to promptly inform the Sub-Adviser, in writing, of any changes in such documents or interpretations which may affect the Sub-Adviser's services hereunder, it being understood that such changes will be effective with respect to the Sub-Adviser upon the Sub-Adviser's receipt of such notice, provided, however, that Sub-Advisor shall have a reasonable period to effect any necessary portfolio changes to bring the assets into compliance with such changes or interpretations.

Investment Objectives, Policies, Practices and Restrictions. (i) The investment of the assets of the Portfolio shall at all times be subject to the applicable provisions of the Articles of Incorporation, the Bylaws, the Registration Statement, the current Prospectus and the Statement of Additional Information of the Fund and shall conform to the investment objectives, policies and restrictions of the Portfolio as set forth in such documents and as interpreted from time to time by the Board of Directors of the Fund and by the Adviser, including diversification of the holdings of the Portfolio as a segregated asset account in accordance with Section 817 of the Internal Revenue Code, as amended (the "Code"), and Regulation Section 1.817-5 thereunder, provided that Adviser shall be responsible for ensuring that the Fund as a whole is "adequately diversified" if and to the extent required by Section 817(h) of the Code and Regulation 1.817-5 thereunder. (ii) Within the framework of the investment objectives, policies and restrictions of the Portfolio, and subject to the supervision of the Adviser, the Sub-Adviser shall formulate and implement an overall continuing program for managing the investment of the assets of the Portfolio, and shall amend and update such program from time to time as financial and other economic conditions warrant. (iii) Adviser agrees to promptly inform the Sub-Adviser, in writing, of any changes in such documents or interpretations which may affect the Sub-Adviser's services hereunder, it being understood that such changes will be effective with respect to the Sub-Adviser upon the Sub-Adviser's receipt of such notice, provided, however, that Sub-Advisor Adviser shall have a reasonable period to effect any necessary portfolio changes to bring the assets into compliance with such changes or interpretations.

Investment Objectives, Policies, Practices and Restrictions. (i) The investment In managing the investments of and determining the composition of the assets of the Portfolio shall at all times Fund and in performing its other services and obligations hereunder, the Sub-Adviser shall: (i) be subject to the applicable provisions of the Articles Agreement and Declaration of IncorporationTrust, the Bylaws, the Registration Statement, the current Prospectus and the Statement of Additional Information of as provided to the Fund and shall conform to Sub-Adviser; (ii) comply with the investment objectives, policies and restrictions of the Portfolio Fund as set forth in such documents and the registration statement of the Fund, as interpreted from time to time amended or supplemented as provided to the Sub-Adviser; (iii) comply with all policies, guidelines, instructions and procedures approved by the Board of Directors of or the Adviser with respect to the Fund and by furnished to the Sub-Adviser, including diversification ; (iv) comply with all applicable requirements of the holdings Investment Advisers Act, the Investment Company Act and the rules and regulations under each thereof, as the same may be amended from time to time; (v) cause the Fund to comply with (a) the diversification requirements of the Portfolio as a segregated asset account in accordance with Section 817 Subchapter M of the Internal Revenue CodeCode of 1986, as amended (the "“Code"”), for qualification as a regulated investment company (if and for so long as the Fund seeks to qualify as a regulated investment company under the Code) and (b) the diversification requirements under Subchapter L, including the requirements of Regulation Section 1.817-5 thereunder5, provided of the Code; and (vi) comply with all other applicable law, rules and regulations. The Adviser acknowledges that Adviser shall be responsible for ensuring that the Fund as a whole is "adequately diversified" if and to the extent required by Section 817(h) of that the Code and Regulation 1.817Sub-5 thereunder. (ii) Within the framework of Adviser has agreed to perform the investment objectives, policies compliance monitoring specified in this Agreement and restrictions of the Portfolio, and subject to the supervision of instructions from the Adviser, the Sub-Adviser shall formulate and implement an overall continuing program not be held liable under this Subadvisory Agreement for managing the investment liability arising out of the assets of the Portfolio, and shall amend and update such program from time to time as financial and other economic conditions warrant. (iii) Adviser agrees to promptly inform the a difference between Sub-Adviser, ’s internal books and the official books and records of the Fund so long as it performs such services in writing, of any changes in such documents or interpretations which may affect accordance with the Sub-Adviser's services hereunder, it being understood that such changes will be effective with respect to the Sub-Adviser Subadvisory Agreement based upon the Sub-Adviser's receipt of ’s internal books and records and such noticeinstructions provided by the Fund or the Adviser , provided, however, that provided Sub-Advisor shall have Adviser has been afforded a reasonable period amount of time to effect implement any necessary portfolio changes such instructions. In addition, the Sub-Adviser shall maintain compliance procedures for its management of the Fund that the Sub-Adviser reasonably believes are adequate to bring ensure its and the assets into Fund’s compliance with such changes or interpretationsthe foregoing. During the term of the Agreement, the Sub-Adviser will monitor the Fund’s compliance with the trading restrictions set forth in subsection (c)(2)(iii) of CFTC Rule 4.5. The Sub-Adviser represents that it is currently exempt from registration as a commodity trading adviser with respect to the Fund.

Investment Objectives, Policies, Practices and Restrictions. (i) The investment of the assets of the Portfolio Fund shall at all times be subject to the applicable provisions of the Articles Agreement and Declaration of IncorporationTrust, the Bylaws, the Registration Statement, the current Prospectus and the Statement of Additional Information of the Fund Trust and shall conform to the investment objectives, policies and restrictions of the Portfolio Fund as set forth in such documents and as interpreted from time to time by the Board of Directors Trustees of the Fund Trust and by the Adviser, including diversification of the holdings of the Portfolio Fund as a segregated asset account in accordance with Section 817 of the Internal Revenue Code, as amended (the "“Code"”), and Regulation Section 1.817-5 thereunder, provided that Adviser shall be responsible for ensuring that the Fund Trust as a whole is "“adequately diversified" ” if and to the extent required by Section 817(h) of the Code and Regulation 1.817-5 thereunder. (ii) Within the framework of the investment objectives, policies and restrictions of the PortfolioFund, and subject to the supervision of the Adviser, the Sub-Adviser shall formulate and implement an overall continuing program for managing the investment of the assets of the PortfolioFund, and shall amend and update such program from time to time as financial and other economic conditions warrant. (iii) Adviser agrees to promptly inform the Sub-Adviser, in writing, of any changes in such documents or interpretations which may affect the Sub-Adviser's ’s services hereunder, it being understood that such changes will be effective with respect to the Sub-Adviser upon the Sub-Adviser's ’s receipt of such notice, provided, however, that Sub-Advisor Adviser shall have a reasonable period to effect any necessary portfolio changes to bring the assets into compliance with such changes or interpretations.

Investment Objectives, Policies, Practices and Restrictions. (i) The investment In managing the investments of and determining the composition of the assets of the Portfolio shall at all times Fund and in performing its other services and obligations hereunder, the Sub-Adviser shall: (i) be subject to the applicable provisions of the Articles Agreement and Declaration of IncorporationTrust, the Bylaws, the Registration Statement, the current Prospectus and the Statement of Additional Information of as provided to the Fund and shall conform to Sub-Adviser; (ii) comply with the investment objectives, policies and restrictions of the Portfolio Fund as set forth in such documents and the registration statement of the Fund, as interpreted from time to time amended or supplemented as provided to the Sub-Adviser; (iii) comply with all policies, guidelines, instructions and procedures approved by the Board of Directors of or the Adviser with respect to the Fund and by furnished to the Sub-Adviser, including diversification ; (iv) comply with all applicable requirements of the holdings Investment Advisers Act of the Portfolio as a segregated asset account in accordance with Section 817 of the Internal Revenue Code1940, as amended (the "Code"“Investment Advisers Act”), the Investment Company Act and Regulation Section 1.817-5 thereunderthe rules and regulations under each thereof, provided that Adviser shall as the same may be responsible for ensuring that amended from time to time; (v) cause the Fund to comply with (a) the diversification requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), for qualification as a whole is "adequately diversified" regulated investment company (if and for so long as the Fund seeks to qualify as a regulated investment company under the extent required by Section 817(hCode) and (b) the diversification requirements under Subchapter L, including the requirements of the Code and Regulation 1.817-5 thereunder. (ii) Within the framework 5, of the investment objectivesCode; and (vi) comply with all other applicable law, policies rules and restrictions of the Portfolio, and subject to the supervision of the Adviserregulations. In addition, the Sub-Adviser shall formulate and implement an overall continuing program maintain compliance procedures for managing the investment its management of the assets of the Portfolio, and shall amend and update such program from time to time as financial and other economic conditions warrant. (iii) Adviser agrees to promptly inform the Sub-Adviser, in writing, of any changes in such documents or interpretations which may affect the Sub-Adviser's services hereunder, it being understood Fund that such changes will be effective with respect to the Sub-Adviser upon reasonably believes are adequate to ensure its and the Fund’s compliance with the foregoing. In no event shall Sub-Adviser's receipt of such notice, provided, however, Adviser cause the Fund to enter into derivative transactions that Sub-Advisor shall have a reasonable period would cause the Fund to effect any necessary portfolio changes to bring exceed the assets into compliance with such changes or interpretationsde minimus test for commodity pool operator registration set forth in CFTC Regulation 4.5.

Investment Objectives, Policies, Practices and Restrictions. (i) The investment of the assets of the Portfolio shall at all times be subject to the applicable provisions of the Articles of Incorporation, the Bylaws, the Registration Statement, the current Prospectus and the Statement of Additional Information of the Fund and shall conform to the investment objectives, policies and restrictions of the Portfolio as set forth in such documents and as interpreted from time to time by the Board of Directors of the Fund and by the Adviser, including diversification of the holdings of the Portfolio as a segregated asset account in accordance with Section 817 of the Internal Revenue Code, as amended (the "Code"), and Regulation Section 1.817-5 thereunder, provided that Adviser shall be responsible for ensuring that the Fund as a whole is "adequately diversified" diversified if and to the extent required by Section 817(h) of the Code and Regulation 1.817-5 thereunder. (ii) Within the framework of the investment objectives, policies and restrictions of the Portfolio, and subject to the supervision of the Adviser, the Sub-Adviser shall formulate and implement an overall continuing program for managing the investment of the assets of the Portfolio, and shall amend and update such program from time to time as financial and other economic conditions warrant. (iii) Adviser agrees to promptly inform the Sub-Adviser, in writing, of any changes in such documents or interpretations which may affect the Sub-Adviser's Advisers services hereunder, it being understood that such changes will be effective with respect to the Sub-Adviser upon the Sub-Adviser's Advisers receipt of such notice, provided, however, that Sub-Advisor shall have a reasonable period to effect any necessary portfolio changes to bring the assets into compliance with such changes or interpretations.