Common use of Powers of the Adviser Clause in Contracts

Powers of the Adviser. 3.1 The Adviser shall pursue the Investment Objective and the Investment Policy in accordance therewith and shall have and is hereby granted the following authority, power and right for the account and in the name of the Fund but subject to the Act and the supervision of the Directors: 3.1.1 upon making its appropriate investment decisions, to issue orders or instructions to the Custodian, the Administrator and to such brokers as it may employ from time to time (or other agent or agents) with respect to the purchase, sale, dealing in and investment in Investments by the Fund and the disposition of Investments of the Fund; and 3.1.2 to enter into, make, and perform all contracts, agreements and other undertakings as may in the opinion of the Adviser be necessary or advisable or incidental to the carrying out of the objectives of this Agreement. 3.2 The authorities herein contained are continuing ones and shall remain in full force and effect until revoked by termination of this Agreement, provided that such revocation shall not affect any liability in any way resulting from transactions initiated prior to such revocation.