Common use of RESERVATION OF NAME Clause in Contracts

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the Funds, the name of the Funds will be changed to one that does not contain the name “Cutwater Asset Management” or “Cutwater” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “CutwaterEquinox” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the each Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the each Fund’s name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the Funds, the name of the Funds each Fund will be changed to one that does not contain the name names “Cutwater Asset Management” or “CutwaterEquity Investment Corporation” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “CutwaterTOBAM” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “CutwaterSirios” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s 's name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s 's name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “Cutwater” "Piedmont Investment Advisors, LLC" or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name names “Cutwater Asset Lateef Investment Management, L.P.” or “CutwaterLateef” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “CutwaterXxxxxxx” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “CutwaterArabesque” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the a Fund’s name and all investment models used by or on behalf of the FundFunds. The Investment Adviser may use the a Fund’s name or any portion thereof in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management[Bradesco]” or “Cutwater[BRAM]” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management[Choice Financial]” or “Cutwater[EquityCompass]” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Equinox Institutional Asset Management, LP” or “CutwaterEquinox” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset ManagementPemberwick Investment Advisors, LLC” or “CutwaterPemberwick” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “CutwaterPiedmont Investment Advisors, LLC” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset ManagementPemberwick Investment Advisors LLC” or “CutwaterPemberwick” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s 's name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s 's name or any portion thereof in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset names "Lateef Investment Management” , L.P." or “Cutwater” "LATEEF" or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof thereof, and the Fund’s performance record, in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset ManagementChoice Financial” or “CutwaterEquityCompass” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s 's name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s 's name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” "Pemberwick Investment Advisors LLC" or “Cutwater” "Pemberwick" or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “Cutwater[ ]” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “Cutwater[____]” or otherwise suggest an affiliation with the Investment Adviser.

RESERVATION OF NAME. The Investment Adviser shall at all times have all rights in and to the Fund’s name and all investment models used by or on behalf of the Fund. The Investment Adviser may use the Fund’s name or any portion thereof in connection with any other mutual Trust fund or business activity without the consent of any shareholder and the Trust shall execute and deliver any and all documents required to indicate the consent of the Trust to such use. The Trust hereby agrees that in the event that neither the Investment Adviser nor any of its affiliates acts as investment adviser to the FundsFund, the name of the Funds Fund will be changed to one that does not contain the name “Cutwater Asset Management” or “Cutwater[Sirios]” or otherwise suggest an affiliation with the Investment Adviser.