Common use of Novation and Acceptance Clause in Contracts

Novation and Acceptance. Subject to the terms and conditions contained herein, New York LLC hereby effects a novation of the Agreement to substitute Delaware LLC for New York LLC as a party to such agreement, and the Trust hereby consents to such novation and hereby releases New York LLC from all of its duties and obligations under the Agreement, and Delaware LLC hereby accepts such novation and hereby releases New York LLC from all of its duties and obligations under the Agreement and assumes all rights, duties and obligations of New York LLC under the Agreement.

Appears in 5 contracts

Samples: Operating Expense Limitation Agreement (Direxion Funds), Management Services Agreement (Direxion Funds), Management Services Agreement (Direxion Shares ETF Trust)

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Novation and Acceptance. Subject to the terms and conditions contained herein, New York LLC hereby effects a novation of the Advisory Agreement to substitute Delaware LLC for New York LLC as a party to such agreement, and the Trust hereby consents to such novation and hereby releases New York LLC from all of its duties and obligations under the Advisory Agreement, and Delaware LLC hereby accepts such novation and hereby releases New York LLC from all of its duties and obligations under the Advisory Agreement and assumes all rights, duties and obligations of New York LLC under the Advisory Agreement.

Appears in 2 contracts

Samples: Investment Advisory Agreement (Direxion Funds), Investment Advisory Agreement (Direxion Shares ETF Trust)

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Novation and Acceptance. Subject to the terms and conditions contained herein, New York LLC hereby effects a novation of the Agreement to substitute Delaware LLC for New York LLC as a party to such agreement, and the Trust Subadviser hereby consents to such novation and hereby releases New York LLC from all of its duties and obligations under the Agreement, and Delaware LLC hereby accepts such novation and hereby releases New York LLC from all of its duties and obligations under the Agreement and assumes all rights, duties and obligations of New York LLC under the Agreement.

Appears in 1 contract

Samples: Subadvisory Agreement (Direxion Funds)

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