Common use of OBLIGATIONS OF THE INVESTMENT MANAGER Clause in Contracts

OBLIGATIONS OF THE INVESTMENT MANAGER. As the Investment Manager, PMC Asset will: (a) advise the Company as to the acquisition and disposition of Invested Assets and temporary investments (collectively, "INVESTMENTS") in accordance with the Company's underwriting criteria and investment policies; (b) provide the Company with office space and services to the extent required by the Company's trust managers, officers and employees; (c) maintain the Company's books of account and other records and files; (d) report to the Company's trust managers, or to any committee or officer of the Company acting pursuant to the authority of the trust managers, at such times and in such detail as the trust managers deem appropriate in order to enable the Company to determine that its investment policies are being observed and implemented; (e) undertake its obligations pursuant hereto and any other activities undertaken by PMC Asset on the Company's behalf subject to any directives of the Company's trust managers or any duly constituted committee or officer of the Company acting pursuant to authority of the Company's trust managers; (f) subject to the Company's investment policies and any specific directives from the Company's trust managers, to effect acquisitions and dispositions for the Company's account in the Investment Manager's discretion and to arrange for the documents representing acquired Investments to be delivered to the Company's custodian; (g) on a continuing basis, monitor, manage and service the Company's Investments; and (h) arrange debt and equity financing for the Company, subject to policies adopted by the Company's trust managers.

OBLIGATIONS OF THE INVESTMENT MANAGER. As the Investment Manager, PMC Asset Advisers will: (a) advise the Company as to the acquisition and disposition of Invested Assets and temporary investments (collectively, "INVESTMENTSInvestments") in accordance with the Company's underwriting criteria and investment policies; (b) provide the Company with office space and services to the extent required by the Company's trust managers, officers and employees; (c) maintain the Company's books of account and other records and files; (d) report to the Company's trust managers, or to any committee or officer of the Company acting pursuant to the authority of the trust managers, at such times and in such detail as the trust managers deem appropriate in order to enable the Company to determine that its investment policies are being observed and implemented; (e) undertake its obligations pursuant hereto and any other activities undertaken by PMC Asset Advisers on the Company's behalf subject to any directives of the Company's trust managers or any duly constituted committee or officer of the Company acting pursuant to authority of the Company's trust managers; (f) subject to the Company's investment policies and any specific directives from the Company's trust managers, to effect acquisitions and dispositions for the Company's account in the Investment Manager's discretion and to arrange for the documents representing acquired Investments to be delivered to the Company's custodian; (g) on a continuing basis, monitor, manage and service the Company's Investments; and (h) arrange debt and equity financing for the Company, subject to policies adopted by the Company's trust managers.

OBLIGATIONS OF THE INVESTMENT MANAGER. As the Investment Manager, PMC Asset Advisers will: (a) advise the Company as to the acquisition and disposition of Invested Assets and temporary investments (collectively, "INVESTMENTSInvestments") in accordance with the Company's underwriting criteria and investment policies; (b) provide the Company with office space and services to the extent required by the Company's trust managers, officers and employees; (c) maintain the Company's books of account and other records and files; (d) report to the Company's trust managers, or to any committee or officer of the Company acting pursuant to the authority of the trust managers, at such times and in such detail as the trust managers deem appropriate in order to enable the Company to determine that its investment policies are being observed and implemented;such (e) undertake its obligations pursuant hereto and any other activities undertaken by PMC Asset Advisers on the Company's behalf subject to any directives of the Company's trust managers or any duly constituted committee or officer of the Company acting pursuant to authority of the Company's trust managers; (f) subject to the Company's investment policies and any specific directives from the Company's trust managers, to effect acquisitions and dispositions for the Company's account in the Investment Manager's discretion and to arrange for the documents representing acquired Investments to be delivered to the Company's custodian; (g) on a continuing basis, monitor, manage and service the Company's Investments; and (h) arrange debt and equity financing for the Company, subject to policies adopted by the Company's trust managers.