Common use of Management of the Fund Clause in Contracts

Management of the Fund. The General Partner and the Fund Manager shall, and shall cause the Fund to, at all times comply with this Agreement, including the Investment Objectives, the Investment Policy and the investment restrictions set forth in Section 7.1 (Investment Restrictions) and the standard of care set forth in Section 20.5 (Standard of Care). The organization, conduct, management, control and operation of the Fund and its investment and other activities shall be vested in the General Partner, which is hereby authorized and empowered on behalf and in the name of the Fund, subject to the provisions of this Agreement, to exercise and carry out any and all of the purposes of the Fund and to perform all acts and enter into and perform all contracts and other undertakings that may be necessary, advisable or incidental thereto without any further act, approval or vote of any Person, including any Limited Partner. The General Partner shall, to the maximum extent permitted by the Act, delegate to the Fund Manager, all of the powers of the General Partner, provided that no such delegation shall reduce the responsibility of the General Partner for the conduct of the Fund and the General Partner shall be liable for the conduct of the Fund Manager as if such conduct were the conduct of the General Partner. Notwithstanding anything to the contrary provided herein, neither the General Partner nor the Fund Manager may, or shall have any right, power or authority to, avoid its obligations under this Agreement by delegation of authority or responsibility.