Common use of Powers of the Fund Clause in Contracts

Powers of the Fund. Without limiting any powers granted to the Fund under this Agreement or applicable law, in carrying out its purposes the Fund has all powers granted to a limited liability company organized under the Delaware Act, including, without limitation: (a) To borrow money or to loan money and to pledge or mortgage any and all Fund Property and to execute conveyances, mortgages, security agreements, assignments and any other contract or agreement deemed proper and in furtherance of the Fund's purposes and affecting it or any Fund Property; provided, however, that the Fund shall not loan money to the Manager, or any other Managing Person; (b) To pay all indebtedness, taxes and assessments due or to be due with regard to Fund Property and to give or receive notices, reports or other communications arising out of or in connection with the Fund's business or Fund Property; (c) To collect all monies due the Fund; (d) To establish, maintain and supervise the deposit of funds or Fund Property into, and the withdrawals of the same from, Fund bank accounts or securities accounts; (e) To employ accountants to prepare required tax returns and provide other professional services and to pay their fees at the Fund expense; (f) To make any election relating to adjustments in basis on behalf of the Fund or the Shareholders which is or may be permitted under the Code, particularly with respect to Sections 743, 754 and 771 of the Code; (g) To employ legal counsel for Fund purposes and to pay their fees and expenses at the Fund expense; and (h) To invest in any asset consistent with the objectives of the Fund as described in the Memorandum; and

Powers of the Fund. Without limiting any powers granted to the Fund under this Agreement or applicable law, in carrying out its purposes the Fund has all powers granted to a limited liability company organized under the Delaware Act, including, without limitation: (a) To borrow money or to loan money and to pledge or mortgage any and all Fund Property and to execute conveyances, mortgages, security agreements, assignments and any other contract or agreement deemed proper and in furtherance of the Fund's purposes and affecting it or any Fund Property; provided, however, that the Fund shall not loan money to the Manager, or any other Managing Person; (b) To pay all indebtedness, taxes and assessments due or to be due with regard to Fund Property and to give or receive notices, reports or other communications arising out of or in connection with the Fund's business or Fund Property; (c) To collect all monies due the Fund; (d) To establish, maintain and supervise the deposit of funds or Fund Property into, and the withdrawals of the same from, Fund bank accounts or securities accounts; (e) To employ accountants to prepare required tax returns and provide other professional services and to pay their fees at the Fund Fund's expense; (f) To make any election relating to adjustments in basis on behalf of the Fund or the Shareholders which is or may be permitted under the Code, particularly with respect to Sections 743, 754 and 771 of the Code; (g) To employ legal counsel for Fund purposes and to pay their fees and expenses at the Fund Fund's expense; and (h) To invest in any asset consistent with the objectives of the Fund as described in the Memorandum; and