Common use of Rights of the Administrator Clause in Contracts

Rights of the Administrator. The Administrator may: 5.1 employ servants or agents in the performance of its duties and the exercise of its rights under this Agreement; 5.2 with the prior approval of the Fund, delegate its functions, powers, discretions, privileges and duties under this Agreement or any of them to such persons on such terms and conditions as it may deem appropriate, provided that such responsibility may not be delegated to the extent that they are to be performed by any person outside the United States if such responsibilities are required to be performed within the United States under United States law; 5.3 use the name of the Fund and sign any necessary letters or other documents for and on behalf of the Fund as Administrator of the Fund in the performance of its duties under this Agreement; 5.4 act as Administrator for any other persons on such terms as may be arranged with such persons and shall not be deemed to be affected with notice of, or to be under any duty to disclose to the Fund, any fact or thing which may come to the knowledge of the Administrator or any servant, agent or delegate of the Administrator in the course of so doing or in any manner whatsoever otherwise than in the course of carrying out the duties of Administrator under this Agreement; and 5.5 acquire, hold or deal with for the account of any customer or other persons and in its own name or in the name of such customer or person or of a nominee any units or securities for the time being issued by the Fund or any investment in which the Fund is authorized to invest and shall not be required to account to the Fund for any profit arising therefrom.

Rights of the Administrator. The Administrator may: 5.1 (a) at its own expense employ servants or agents in the performance of its duties and the exercise of its rights hereunder provided that such employment shall not reduce the obligations or liabilities of the Administrator under this Agreement; 5.2 with the prior approval of the Fund, (b) delegate its functions, powers, discretions, privileges and duties under this Agreement hereunder or any of them to such persons person, firm or corporation on such terms and conditions as it may deem appropriate, provided that such responsibility may not be delegated are agreed between the Administrator and the Trust and without prejudice to the extent that they are to be performed by any person outside the United States if such responsibilities are required to be performed within the United States under United States lawClause 3; 5.3 (c) use the name of the Fund Trust and sign any necessary letters or other documents for and on behalf of the Fund Trust as Administrator registrar of the Fund Trust in the performance of its duties under this Agreement;hereunder; and 5.4 (d) act as Administrator registrar or administrator for any other company, corporation or body of persons on such terms as may be arranged with such company, corporation or body of persons and shall not be deemed to be affected with notice of, of or to be under any duty to disclose to the Fund, Trust any fact or thing which may come to the knowledge of the Administrator or any servant, agent or delegate of the Administrator in the course of so doing or in any manner whatsoever whatever otherwise than in the course of carrying out the duties of Administrator under this Agreement; andregistrar hereunder; 5.5 (e) acquire, hold or deal with for its own account or for the account of any customer or other persons person and in its own name or in the name of such customer or person or of a nominee any units or securities for the time being issued by the Fund or any investment in which the Fund Trust is authorized to invest and shall not be required to account to the Fund Trust for any profit arising therefrom.