Common use of Not an Investment Adviser Clause in Contracts

Not an Investment Adviser. The Adviser acknowledges that UBS has not provided any advice hereunder as to the value of securities or regarding the advisability of purchasing or selling any securities for the Fund’s portfolio. The Adviser acknowledges and agrees that UBS has been retained to act solely as an advisor to the Adviser, and the Adviser’s engagement of UBS is not intended to confer rights upon any person (including the Fund or any partners, shareholders, employees or creditors, as applicable, of the Adviser or the Fund) not a party hereto as against UBS or its affiliates, or their respective directors, officers, employees or agents, successors, or assigns. UBS has acted as an independent contractor under this Agreement, and not in any other capacity including as a fiduciary, and any duties arising out of its engagement shall be owed solely to the Adviser.

Not an Investment Adviser. The Adviser acknowledges Companies acknowledge that UBS has not provided any advice hereunder as to the value of securities or regarding the advisability of purchasing or selling any securities for the Fund’s portfolio. The Adviser acknowledges Companies acknowledge and agrees that UBS has been retained to act solely as an advisor adviser to the AdviserCompanies, and the Adviser’s Companies’ engagement of UBS is not intended to confer rights upon any person (including the Fund or any partners, shareholders, employees or creditors, as applicable, creditors of the Adviser Companies or the Fund) not a party hereto as against UBS or its affiliates, or their respective directors, officers, employees or agents, successors, or assigns. UBS has acted as an independent contractor under this Agreement, and not in any other capacity including as a fiduciary, and any duties arising out of its engagement shall be owed solely to the AdviserCompanies.

Not an Investment Adviser. The Adviser acknowledges that UBS has not provided any advice hereunder as to the value of securities or regarding the advisability of purchasing or selling any securities for the Fund’s 's portfolio. The Adviser acknowledges and agrees that UBS has been retained to act solely as an advisor adviser to the Adviser, and the Adviser’s 's engagement of UBS is not intended to confer rights upon any person (including the Fund or any partners, shareholders, employees or creditors, as applicable, creditors of the Adviser or the Fund) not a party hereto as against UBS or its affiliates, or their respective directors, officers, employees or agents, successors, or assigns. UBS has acted as an independent contractor under this Agreement, and not in any other capacity including as a fiduciary, and any duties arising out of its engagement shall be owed solely to the Adviser.