Common use of Part Four Clause in Contracts

Part Four. MISCELLANEOUS (1) The Corporation shall be deemed to be an independent contractor and, except as expressly provided or authorized in this Agreement, shall have no authority to act for or represent the Company. (2) A "full business day" shall be as defined in the By-laws. (3) The Company recognizes that the Corporation now renders and may continue to render investment advice and other services to other investment companies and persons which may or may not have investment policies and investments similar to those of the Company and that the Corporation manages its own investments and/or those of its subsidiaries. The Corporation shall be free to render such investment advice and other services and the Company hereby consents thereto. (4) Neither this Agreement nor any transaction had pursuant hereto shall be invalidated or in anyway affected by the fact that directors, officers, agents and/or shareholders of the Company are or may be interested in the Corporation or any successor or assignee thereof, as directors, officers, stockholders or otherwise; that directors, officers, stockholders or agents of the Corporation are or may be interested in the Company as directors, officers, shareholders, or otherwise; or that the Corporation or any successor or assignee, is or may be interested in the Company as shareholder or otherwise, provided, however, that neither the Corporation, nor any officer, director or employee thereof or of the Corporation, shall sell to or buy from the Company any property or security other than shares issued by the Company, except in accordance with applicable regulations or orders of the United States Securities and Exchange Commission. (5) Any notice under this Agreement shall be given in writing, addressed, and delivered, or mailed postpaid, to the party to this Agreement entitled to receive such, at such party's principal place of business in Minneapolis, Minnesota, or to such other address as either party may designate in writing mailed to the other. (6) The Corporation agrees that no officer, director or employee of the Corporation will deal for or on behalf of the Company with himself as principal or agent, or with any corporation or partnership in which he may have a financial interest, except that this shall not prohibit officers, directors or employees of the Corporation from having a financial interest in the Company or in the Corporation.

Part Four. MISCELLANEOUS (1) The Corporation shall be deemed to be an independent contractor and, except as expressly provided or authorized in this Agreement, shall have no authority to act for or represent the Company. (2) A "full business day" shall be as defined in the By-By- laws. (3) The Company recognizes that the Corporation now renders and may continue to render investment advice and other services to other investment companies and persons which may or may not have investment policies and investments similar to those of the Company and that the Corporation manages its own investments and/or those of its subsidiaries. The Corporation shall be free to render such investment advice and other services and the Company hereby consents thereto. (4) Neither this Agreement nor any transaction had pursuant hereto shall be invalidated or in anyway affected by the fact that directors, officers, agents and/or shareholders of the Company are or may be interested in the Corporation or any successor or assignee thereof, as directors, officers, stockholders or otherwise; that directors, officers, stockholders or agents of the Corporation are or may be interested in the Company as directors, officers, shareholders, or otherwise; or that the Corporation or any successor or assignee, is or may be interested in the Company as shareholder or otherwise, provided, however, that neither the Corporation, nor any officer, director or employee thereof or of the Corporation, shall sell to or buy from the Company any property or security other than shares issued by the Company, except in accordance with applicable regulations or orders of the United States Securities and Exchange Commission. (5) Any notice under this Agreement shall be given in writing, addressed, and delivered, or mailed postpaid, to the party to this Agreement entitled to receive such, at such party's principal place of business in Minneapolis, Minnesota, or to such other address as either party may designate in writing mailed to the other. (6) The Corporation agrees that no officer, director or employee of the Corporation will deal for or on behalf of the Company with himself as principal or agent, or with any corporation or partnership in which he may have a financial interest, except that this shall not prohibit officers, directors or employees of the Corporation from having a financial interest in the Company or in the Corporation. (7) The Company agrees that the Corporation may subcontract for certain of the services described under this Agreement with the understanding that there shall be no diminution in the quality or level of the services and that the Corporation remains fully responsible for the services.

Part Four. MISCELLANEOUS (1) The American Express Financial Corporation shall be deemed to be an independent contractor and, except as expressly provided or authorized in this Agreement, shall have no authority to act for or represent the CompanyFund. (2) A "full business day" shall be as defined in the By-laws. (3) The Company Fund recognizes that the American Express Financial Corporation now renders and may continue to render investment advice and other services to other investment companies and persons which may or may not have investment policies and investments similar to those of the Company Fund and that the American Express Financial Corporation manages its own investments and/or those of its subsidiaries. The American Express Financial Corporation shall be free to render such investment advice and other services and the Company Fund hereby consents thereto. (4) Neither this Agreement nor any transaction had pursuant hereto shall be invalidated or in anyway affected by the fact that directors, officers, agents and/or shareholders of the Company Fund are or may be interested in the American Express Financial Corporation or any successor or assignee thereof, as directors, officers, stockholders or otherwise; that directors, officers, stockholders or agents of the American Express Financial Corporation are or may be interested in the Company Fund as directors, officers, shareholders, or otherwise; or that the American Express Financial Corporation or any successor or assignee, is or may be interested in the Company Fund as shareholder or otherwise, provided, however, that neither the American Express Financial Corporation, nor any officer, director or employee thereof or of the CorporationFund, shall sell to or buy from the Company Fund any property or security other than shares issued by the CompanyFund, except in accordance with applicable regulations or orders of the United States Securities and Exchange Commission. (5) Any notice under this Agreement shall be given in writing, addressed, and delivered, or mailed postpaid, to the party to this Agreement entitled to receive such, at such party's principal place of business in Minneapolis, Minnesota, or to such other address as either party may designate in writing mailed to the other. (6) The American Express Financial Corporation agrees that no officer, director or employee of the American Express Financial Corporation will deal for or on behalf of the Company Fund with himself as principal or agent, or with any corporation or partnership in which he may have a financial interest, except that this shall not prohibit officers, directors or employees of the American Express Financial Corporation from having a financial interest in the Company Fund or in the American Express Financial Corporation. (7) The Fund agrees that American Express Financial Corporation may subcontract for certain of the services described under this Agreement with the understanding that there shall be no diminution in the quality or level of the services and that American Express Financial Corporation remains fully responsible for the services.

Part Four. MISCELLANEOUS (1) The American Express Financial Corporation shall be deemed to be an independent contractor and, except as expressly provided or authorized in this Agreement, shall have no authority to act for or represent the CompanyFund. (2) A "full business day" shall be as defined in the By-laws. (3) The Company Fund recognizes that the American Express Financial Corporation now renders and may continue to render investment advice and other services to other investment companies and persons which may or may not have investment policies and investments similar to those of the Company Fund and that the American Express Financial Corporation manages its own investments and/or those of its subsidiaries. The American Express Financial Corporation shall be free to render such investment advice and other services and the Company Fund hereby consents thereto. (4) Neither this Agreement nor any transaction had pursuant hereto shall be invalidated or in anyway affected by the fact that directorstrustees, officers, agents and/or shareholders of the Company Fund are or may be interested in the American Express Financial Corporation or any successor or assignee thereof, as directorstrustees, officers, stockholders or otherwise; that directorstrustees, officers, stockholders or agents of the American Express Financial Corporation are or may be interested in the Company Fund as directorstrustees, officers, shareholders, or otherwise; or that the American Express Financial Corporation or any successor or assignee, is or may be interested in the Company Fund as shareholder or otherwise, provided, however, that neither the American Express Financial Corporation, nor any officer, director trustee or employee thereof or of the CorporationFund, shall sell to or buy from the Company Fund any property or security other than shares issued by the CompanyFund, except in accordance with applicable regulations or orders of the United States Securities and Exchange Commission. (5) Any notice under this Agreement shall be given in writing, addressed, and delivered, or mailed postpaid, to the party to this Agreement entitled to receive such, at such party's principal place of business in Minneapolis, Minnesota, or to such other address as either party may designate in writing mailed to the other. (6) The American Express Financial Corporation agrees that no officer, director trustee or employee of the American Express Financial Corporation will deal for or on behalf of the Company Fund with himself as principal or agent, or with any corporation or partnership in which he may have a financial interest, except that this shall not prohibit officers, directors trustees or employees of the American Express Financial Corporation from having a financial interest in the Company Fund or in the American Express Financial Corporation. (7) The Fund agrees that American Express Financial Corporation may subcontract for certain of the services described under this Agreement with the understanding that there shall be no diminution in the quality or level of the services and that American Express Financial Corporation remains fully responsible for the services.