Common use of Investment Program Clause in Contracts

Investment Program. The Adviser shall (i) furnish continuously an investment program for each Fund, (ii) determine (subject to the overall supervision and review of the Trust’s Board of Trustees) the investments to be purchased, held, sold or exchanged by each Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each Fund and its shares of beneficial interest (“Shares”), including each Fund’s prospectus(es) and statement of additional information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a Fund, which sub-advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each Fundthe Trust, (ii) determine (subject to the overall supervision and review of the Trust’s Board of Trustees) the investments to be purchased, held, sold or exchanged by each Fund the Trust and the portion, if any, of the assets of the Fund Trust to be held uninvested, (iii) make changes in the investments of a Fund the Trust and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each Fund the Trust and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s Board of Trustees, Trustees and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each Fund and its shares of beneficial interest (“Shares”), including each Fundthe Trust’s prospectus(es) Prospectus and statement Statement of additional informationAdditional Information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a Fundthe Trust, which sub-advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each the Fund, (ii) determine (subject to the overall supervision and review of the Trust’s 's Board of Trustees) the investments to be purchased, held, sold or exchanged by each the Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a the Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each the Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s 's Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each the Fund and its shares of beneficial interest (“Shares”" Shares "), including each the Fund’s prospectus(es) 's Prospectus and statement Statement of additional informationAdditional Information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a the Fund, which sub-sub- advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each the Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each the Fund, (ii) determine (subject to the overall supervision and review of the Trust’s Board of Trustees) the investments to be purchased, held, sold or exchanged by each the Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a the Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each the Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each the Fund and its shares of beneficial interest (“Shares”), including each the Fund’s prospectus(es) and statement of additional information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a the Fund, which sub-advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each the Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each the Fund, (ii) determine (subject to the overall supervision and review of the Trust’s Board of Trustees) the investments to be purchased, held, sold or exchanged by each the Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a the Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each the Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each the Fund and its shares of beneficial interest (“Shares”), including each the Fund’s prospectus(esProspectus(es) and statement Statement of additional informationAdditional Information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a the Fund, which sub-advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each the Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each the Fund, (ii) determine (subject to the overall supervision and review of the Trust’s Trust s Board of Trustees) the investments to be purchased, held, sold or exchanged by each the Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a the Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each the Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s Trust s Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each the Fund and its shares of beneficial interest (“Shares”( Shares ), including each Fund’s prospectus(esthe Fund s Prospectus(es) and statement Statement of additional informationAdditional Information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a the Fund, which sub-advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each the Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each the Fund, (ii) determine (subject to the overall supervision and review of the Trust’s 's Board of Trustees) the investments to be purchased, held, sold or exchanged by each the Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a the Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each the Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s 's Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each the Fund and its shares of beneficial interest (“Shares”" Shares "), including each the Fund’s prospectus(es's Prospectus(es) and statement Statement of additional informationAdditional Information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a the Fund, which sub-sub- advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each the Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each the Fund, (ii) determine (subject to the overall supervision and review of the Trust’s Trust s Board of Trustees) the investments to be purchased, held, sold or exchanged by each the Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a the Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each the Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s Trust s Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each the Fund and its shares of beneficial interest (“Shares”( Shares ), including each Fund’s the Fund s prospectus(es) and statement of additional information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a the Fund, which sub-sub- advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each the Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each the Fund, (ii) determine (subject to the overall supervision and review of the Trust’s 's Board of Trustees) the investments to be purchased, held, sold or exchanged by each the Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a the Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each the Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s 's Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each the Fund and its shares of beneficial interest (“"Shares”"), including each the Fund’s 's prospectus(es) and statement of additional information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-sub- advisers in connection with the portfolio management of a the Fund, which sub-advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each the Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each the Fund, (ii) determine (subject to the overall supervision and review of the Trust’s 's Board of Trustees) the investments to be purchased, held, sold or exchanged by each the Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a the Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each the Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s 's Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each the Fund and its shares of beneficial interest (“"Shares”"), including each the Fund’s prospectus(es) 's Prospectus and statement Statement of additional informationAdditional Information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a the Fund, which sub-sub- advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each the Fund set forth in this Agreement.

Investment Program. The Adviser shall (i) furnish continuously an investment program for each Fund, (ii) determine (subject to the overall supervision and review of the Trust’s Trust s Board of Trustees) the investments to be purchased, held, sold or exchanged by each Fund and the portion, if any, of the assets of the Fund to be held uninvested, (iii) make changes in the investments of a Fund and (iv) vote, exercise consents and exercise all other rights pertaining to such investments. The Adviser also shall manage, supervise and conduct the other affairs and business of each Fund and matters incidental thereto pursuant to a separate administration agreement with the Trust, subject always to the control of the Trust’s Trust s Board of Trustees, and to the provisions of the organizational documents of the Trust, the Registration Statement of the Trust with respect to each Fund and its shares of beneficial interest (“Shares”( Shares ), including each Fund’s Fund s prospectus(es) and statement of additional information, and the 1940 Act, in each case as from time to time amended and in effect. Subject to the foregoing, the Adviser shall have the authority to engage one or more sub-advisers in connection with the portfolio management of a Fund, which sub-sub- advisers may be affiliates of the Adviser; provided, however, that the Adviser shall remain responsible to the Trust with respect to its duties and obligations on behalf of each Fund set forth in this Agreement.