Common use of License to Proprietary Technology Clause in Contracts

License to Proprietary Technology. The Investment Manager owns and controls certain intellectual property rights to certain inventions relating to proprietary structures, models, methodologies, and strategies used in connection with the Funds and described in one or more pending patent applications (collectively, the “Proprietary Technology”). Each Trust and each Fund acknowledges and agrees that, as between it and the Investment Manager, the Investment Manager owns and controls the Proprietary Technology. The Investment Manager grants to each Trust and its corresponding Fund a royalty-free, non-exclusive license to use the Proprietary Technology for the duration of this Agreement with respect to such Trust and Fund, and any extensions or renewals thereof, solely in connection with the operation, management, and administration of such Trust and Fund. Such license shall, immediately upon termination of this Agreement with respect to any Trust and Fund, be deemed terminated with respect to such Trust and Fund by the Investment Manager, in which event the applicable Trust and Fund shall promptly take whatever action may be necessary (including calling a meeting of the Trust’s Board of Trustees or the Fund’s shareholders) to discontinue any use of the Proprietary Technology in connection with such Trust and Fund.

License to Proprietary Technology. The Investment Manager owns and controls certain intellectual property rights to certain inventions relating to proprietary structures, models, methodologies, and strategies used in connection with the Funds and described in one or more pending patent applications (collectively, the “Proprietary Technology”). Each The Trust and each Fund acknowledges and agrees that, as between it and the Investment Manager, the Investment Manager owns and controls the Proprietary Technology. The Investment Manager grants to each the Trust and its corresponding each Fund a royalty-free, non-exclusive license to use the Proprietary Technology for the duration of this Agreement with respect to such the Trust and each Fund, and any extensions or renewals thereof, solely in connection with the operation, management, and administration of such the Trust and each Fund. Such license shall, immediately upon termination of this Agreement with respect to any the Trust and each Fund, be deemed terminated with respect to such the Trust and each Fund by the Investment Manager, in which event the applicable Trust and each Fund shall promptly take whatever action may be necessary (including calling a meeting of the Trust’s Board of Trustees or the Fund’s shareholders) to discontinue any use of the Proprietary Technology in connection with such the Trust and each Fund.