Common use of Responsibilities of the Adviser Clause in Contracts

Responsibilities of the Adviser. Under the supervision of the Board and pursuant to this Agreement and in accordance with the 1940 Act, the Adviser shall, during the term and subject to the provisions of this Agreement: (a) determine the composition and allocation of the portfolio of the Fund, the nature and timing of the changes therein and the manner of implementing such changes; (b) identify, evaluate and negotiate the structure of the investments made by the Fund; (c) execute, monitor and service the Fund’s investments; (d) determine the securities and/or other assets that the Fund shall purchase, retain, or sell; (e) perform due diligence on prospective investment managers (the “Investment Managers”) and investment funds and/or assets (the “Investment Funds”); (f) select investment managers, sub-advisers, service providers including without limitation broker-dealers, attorneys, accountants, administrators and transfer agents; (g) manage the assets and liabilities of the Fund; and (h) provide the Fund with such other investment advisory, research and related services as the Fund’s Board may, from time to time, reasonably request or require for the investment of its funds.

Responsibilities of the Adviser. Under the supervision of the Board and Board, pursuant to this Agreement and in accordance with the 1940 Investment Company Act, the Adviser shall, during the term and subject to the provisions of this Agreement: (a) determine the composition and allocation of the portfolio of the Fund, the nature and timing of the changes therein and the manner of implementing such changes; (b) identify, evaluate and negotiate the structure of the investments made by the Fund; (c) execute, monitor and service the Fund’s investments; (d) determine the securities and/or other assets that the Fund shall purchase, retain, or sell; (e) perform due diligence on prospective and current Institutional Investment Funds (as defined below), their respective investment managers managers, and the Underlying Advisers (the “Investment Managers”) and investment funds and/or assets (the “Investment Funds”as defined below); (f) select investment managers, sub-advisers, service providers including without limitation broker-dealers, attorneys, accountants, administrators and transfer agents; (g) manage the assets and liabilities of the Fund; and (h) provide the Fund with such other investment advisory, research and related services as the Fund’s Board may, from time to time, reasonably request or require for the investment of its funds.

Responsibilities of the Adviser. Under the supervision of the Board and pursuant to this Agreement and in accordance with the 1940 Investment Company Act, the Adviser shall, during the term and subject to the provisions of this Agreement: (a) determine the composition and allocation of the portfolio of the Fund, the nature and timing of the changes therein and the manner of implementing such changes; (b) identify, evaluate and negotiate the structure of the investments made by the Fund; (c) execute, monitor and service the Fund’s investments; (d) determine the securities and/or other assets that the Fund shall purchase, retain, or sell; (e) perform due diligence on prospective investment managers (the “Investment Managers”) and investment funds and/or assets (the “Investment Funds”); (f) select investment managers, sub-advisers, service providers including without limitation broker-dealers, custodians, attorneys, accountants, administrators administrators, clearing firms and transfer agents; (g) manage the assets and liabilities of the Fund; and (h) provide the Fund with such other investment advisory, research and related services as the Fund’s Board may, from time to time, reasonably request or require for the investment of its funds.