Common use of POWERS OF THE INVESTMENT MANAGER Clause in Contracts

POWERS OF THE INVESTMENT MANAGER. The Investment Manager is empowered, through any of its officers or employees: (a) to invest and reinvest in equity securities, debt securities and other obligations of every description issued or incurred by governmental bodies, corporations, mutual funds, trusts, associations or firms, in money market instruments, and in loans and deposits at interest on call or on time, whether or not secured by collateral; (b) to buy, sell, and exercise warrants and other rights to subscribe for or sell stock or other securities; and (c) to take such other action, or direct the Custodian to take such other action, as may be necessary or desirable to carry out the purpose and intent of the foregoing. The Investment Manager is not empowered to have custody or possession of, or have authority to obtain custody or possession of securities or funds of the Company.

POWERS OF THE INVESTMENT MANAGER. The Investment Manager is empowered, through any of its officers or employees: : (a) to invest and reinvest in equity securities, debt securities and other obligations of every description issued or incurred by governmental bodies, corporations, mutual funds, trusts, associations or firms, in money market instruments, and in loans and deposits at interest on call or on time, whether or not secured by collateral; ; (b) to buy, sell, and exercise warrants and other rights to subscribe for or sell stock or other securities; and and (c) to take such other action, or direct the Custodian to take such other action, as may be necessary or desirable to carry out the purpose and intent of the foregoing. The Investment Manager is not empowered to have custody or possession of, or have authority to obtain custody or possession of securities or funds of the Company.