Common use of Novation and Acceptance Clause in Contracts

Novation and Acceptance. Subject to the terms and conditions contained herein and the completion of the Transaction, HFMC and WMC Massachusetts hereby effect the novation of the Sub-Advisory Agreement (the “Novation”) to substitute WMC Delaware for WMC Massachusetts for all purposes of the Sub-Advisory Agreement. HFMC hereby consents to such Novation and hereby releases WMC Massachusetts from all of its duties and obligations under the Sub-Advisory Agreement, and WMC Delaware hereby accepts the Novation and assumes all rights, benefits, duties and obligations of WMC Massachusetts under the Sub-Advisory Agreement.