Common use of Ownership of Shares of the Fund Clause in Contracts

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fund.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholdersmembers, officers, directors officers or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Except in connection with the initial capitalization of the Fund, the Adviser shall not take an ownership position in the Fundtake, and shall not permit any of its shareholders, officers, directors or employees to take take, a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Adviser Advisor shall not take an ownership position in the Fund, and shall not permit any of its shareholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fund.

Ownership of Shares of the Fund. The Except in connection with the initial capitalization of the Company, the Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholdersmembers, officers, directors officers or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its partners or any of the shareholders, officers, directors or employees of its general partner to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fund.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fundtake, and shall not permit any of its shareholders, officers, directors or employees to take take, a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholdersmembers, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fund.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase. 7.

Ownership of Shares of the Fund. The Adviser Except in connection with the initial capitalization of the Fund, the Advisor shall not take an ownership position in the Fundtake, and shall not permit any of its shareholders, officers, directors or employees to take take, a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the FundFunds, and shall not permit any of its shareholders, officers, directors or employees to take a long or short position in the shares of the FundFunds, except for the purchase of shares of the Fund Funds for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the FundFunds.

Ownership of Shares of the Fund. The Except in connection with the initial capitalization of the Fund, the Adviser shall not take an ownership position in the Fundtake, and shall not permit any of its shareholdersstockholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholdersmembers, officers, directors officers or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fund.

Ownership of Shares of the Fund. The Except in connection with the initial capitalization of the Fund, the Adviser shall not take an ownership position in the Fundtake, and shall not permit any of its shareholdersstockholders, officers, directors or employees to take take, a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase. 6.

Ownership of Shares of the Fund. The Adviser Except in connection with the initial capitalization of the Fund, the Administrator shall not take an ownership position in the Fund, and shall not permit any of its shareholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholdersmembers, officers, directors officers or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available pursuant to a private placement prior to the public at the time offering of purchase or in connection with the initial capitalization shares of the FundFund or pursuant to the public offering.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholdersmembers, officers, directors officers or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase. 6.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fundtake, and ------------------------------- shall not permit any of its shareholders, officers, directors or employees to take take, a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Adviser shall not take an ------------------------------- ownership position in the Fund, and shall not permit any of its shareholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fund.

Ownership of Shares of the Fund. The Adviser shall not take an ------------------------------- ownership position in the Fund, and shall not permit any of its the shareholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fund.

Ownership of Shares of the Fund. The Except in connection with the initial capitalization of the Fund, the Adviser shall not take an ownership position in the Fundtake, and shall not permit any of its shareholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholdersstockholders, officers, directors or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fund.

Ownership of Shares of the Fund. The Adviser shall not take an ownership position in the Fund, and shall not permit any of its shareholders, officers, directors members or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fund.

Ownership of Shares of the Fund. The Adviser Advisor shall not take an ownership position in the Fund, and shall not permit any of its shareholdersmembers, officers, directors officers or employees to take a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available pursuant to the public at the time of purchase or in connection with the initial capitalization of the Fundoffering.

Ownership of Shares of the Fund. The Adviser Except in connection with the initial capitalization of the Fund, the Advisor shall not take an ownership position in the Fundtake, and shall not permit any of its shareholders, officers, directors or employees to take take, a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at in the same price as that available to the public at the time of purchase or in connection with the initial capitalization of secondary market and not directly from the Fund.

Ownership of Shares of the Fund. The Except in connection with the ------------------------------- initial capitalization of the Fund, the Adviser shall not take an ownership position in the Fundtake, and shall not permit any of its shareholders, officers, directors or employees to take take, a long or short position in the shares of the Fund, except for the purchase of shares of the Fund for investment purposes at the same price as that available to the public at the time of purchase or in connection with the initial capitalization of the Fundpurchase.