Common use of Representation and conflict Clause in Contracts

Representation and conflict. It is hereby acknowledged by each of the parties hereto that counsel to the Fund and the Manager acts solely for the Fund and the Manager, and that the Subscriber has obtained independent legal advice with respect to his/her/its review and execution of this Subscription Agreement. It is hereby further acknowledged and agreed by the parties hereto that such counsel, and certain or all of its partners or associates, from time to time, may have both an economic or securities interest in the Fund or its business and/or a position as a director, officer or similar relationship arising at the request of the Fund to act in such capacity while acting for the Fund as counsel. Any conflict or appearance of conflict is hereby waived and it is agreed that such does not give rise to a duty to the Subscriber and the Subscriber does not rely upon such solicitors for any purpose.