Common use of RESPONSIBILITY OF ADVISOR Clause in Contracts

RESPONSIBILITY OF ADVISOR. So long as the Sub-Investment Advisor serves as Investment advisor to all or a portion of the Funds assets, the obligation of the Advisor under this Agreement shall be, subject in any event to the control of the Board of Trustees of the Trust, to determine and review with the Sub-investment Advisor investment policies of the Fund with respect to the assets managed by the Sub-investment Advisor and the Sub-Investment Advisor shall have the obligation of furnishing continuously an investment program and making investment decisions for the Fund, adhering to applicable policies and restrictions and of placing all orders for the purchase and sale of portfolio securities for the Fund with respect to such assets. The Advisor shall compensate any Sub-Investment Advisor to the Fund for its services to the Fund.

RESPONSIBILITY OF ADVISOR. So long as the Sub-Investment Advisor serves -------------------------- as Investment advisor to all or a portion of the Funds Fund's assets, the obligation of the Advisor under this Agreement shall be, subject in any event to the control of the Board of Trustees of the Trust, to determine and review with the Sub-investment Investment Advisor investment policies of the Fund with respect to the assets managed by the Sub-investment Investment Advisor and the Sub-Investment Advisor shall have the obligation of furnishing continuously an investment program and making investment decisions for the Fund, adhering to applicable policies and restrictions and of placing all orders for the purchase and sale of portfolio securities for the Fund with respect to such assets. The Advisor shall compensate any Sub-Investment investment Advisor to the Fund for its services to the Fund.

RESPONSIBILITY OF ADVISOR. So long as the Sub-Investment Advisor serves as Investment advisor to all or a portion of the Funds Fund's assets, the obligation of the Advisor under this Agreement shall be, subject in any event to the control of the Board of Trustees of the Trust, to determine and review with the Sub-investment Investment Advisor investment policies of the Fund with respect to the assets managed by the Sub-investment Investment Advisor and the Sub-Investment Advisor shall have the obligation of furnishing continuously an investment program and making investment decisions for the Fund, adhering to applicable policies and restrictions and of placing all orders for the purchase and sale of portfolio securities for the Fund with respect to such assets. The Advisor shall compensate any Sub-Investment Advisor to the Fund for its services to the Fund.

RESPONSIBILITY OF ADVISOR. So long as the Sub-Investment Advisor serves as Investment investment advisor to all or a portion of the Funds Fund's assets, the obligation of the Advisor under this Agreement shall be, subject in any event to the control of the Board of Trustees of the Trust, to determine and review with the Sub-investment Advisor investment policies of the Fund with respect to the assets managed by the Sub-investment Investment Advisor and the Sub-Investment Advisor shall have the obligation of furnishing continuously an investment program and making investment decisions for the Fund, adhering to applicable policies and restrictions and of placing all orders for the purchase and sale of portfolio securities for the Fund with respect to such assets. The Advisor shall compensate any Sub-Investment investment Advisor to the Fund for its services to the Fund.