Common use of No Investing Fund or Investing Fund Clause in Contracts

No Investing Fund or Investing Fund. Affiliate will cause a Trust to purchase a security from any Affiliated Underwriting, except to the extent that it is acting in its capacity as an investment adviser to the Trust. Nothing in this Agreement, however, shall limit the authority of a Trust to accept and satisfy in-kind creation orders and redemption requests from an Investing Fund or an Underwriting Affiliate that is also an authorized participant in the ordinary course of business. For purposes of this Agreement, the term “Affiliated Underwriting” means an offering of securities during the existence of an underwriting or selling syndicate of which a principal underwriter is an Underwriting Affiliate. For purposes of this Agreement, the term “Underwriting Affiliate” means a principal underwriter in any underwriting or selling syndicate that is an officer, director, member of an advisory board, investment adviser, subadviser, employee or sponsor of an Investing Fund, or a person which any such officer, director, member of an advisory board, investment adviser, subadviser, employee or sponsor is an affiliated person. An Underwriting Affiliate does not include any person whose relationship to a Trust is covered by Section 10(f) of the 1940 Act.

No Investing Fund or Investing Fund. Affiliate will cause a Trust to purchase a security from any Affiliated Underwriting, except to the extent that it is acting in its capacity as an investment adviser to the Trust. Nothing in this Agreement, however, shall limit the authority of a Trust to accept and satisfy in-kind creation orders and redemption requests from an Investing Fund or an Underwriting Affiliate that is also an authorized participant in the ordinary course of business. For purposes of this Agreement, the term “"Affiliated Underwriting” " means an offering of securities during the existence of an underwriting or selling syndicate of which a principal underwriter is an Underwriting Affiliate. For purposes of this Agreement, the term “"Underwriting Affiliate” " means a principal underwriter in any underwriting or selling syndicate that is an officer, director, member of an advisory board, investment adviser, subadvisersub-adviser, employee or sponsor of an Investing Fund, or a person of which any such officer, director, member of an advisory board, investment adviser, subadvisersub-adviser, employee or sponsor is an affiliated person. An Underwriting Affiliate does not include any person whose relationship to a Trust is covered by Section 10(f) of the 1940 Act.