Common use of Scope of Authority Clause in Contracts

Scope of Authority. Subject to supervision by the Adviser and Trustees, the Sub-Adviser will formulate and implement a continuous investment program for each Fund and determine, for each Fund, what securities and other investments will be purchased, retained, sold by the Fund and what portion of such assets will be invested or held uninvested as cash. The Sub-Adviser will exercise discretion and act for the Fund in the same manner and with the same force and effect as the Fund itself might or could do with respect to purchases, sales, or other transactions, as well as with respect to all other things necessary or incidental to the furtherance or conduct of such purchases, sales or other transactions.

Scope of Authority. Subject to supervision by the Adviser and Trustees, the Sub-Adviser will formulate and implement provide a continuous investment program for each Fund and determine, for each Fund, determine what securities and other investments will be purchased, retained, sold by the Fund and what portion of such assets will be invested or held uninvested as cash. The Sub-Adviser will exercise discretion and act for the each Fund in the same manner and with the same force and effect as the Fund itself might or could do with respect to purchases, sales, or other transactions, as well as with respect to all other things necessary or incidental to the furtherance or conduct of such purchases, sales or other transactions.

Scope of Authority. Subject to supervision by the Adviser Manager and Trustees, the Sub-Adviser will formulate and implement provide a continuous investment program for each Fund the Allocated Portion and determine, for each Fundthe Allocated Portion, what securities and other investments will be purchased, retained, sold by the Fund and what portion of such assets will be invested or held uninvested as cash. The Sub-Adviser will exercise discretion and act for the Fund Allocated Portion in the same manner and with the same force and effect as the Fund itself might or could do with respect to purchases, sales, or other transactions, as well as with respect to all other things necessary or incidental to the furtherance or conduct of such purchases, sales or other transactions.

Scope of Authority. Subject to supervision by the Adviser and Trustees, the Sub-Sub- Adviser will formulate and implement a continuous investment program for each Fund and determine, for each Fund, what securities and other investments will be purchased, retained, sold by the Fund and what portion of such assets will be invested or held uninvested as cash. The Sub-Adviser will exercise discretion and act for the Fund in the same manner and with the same force and effect as the Fund itself might or could do with respect to purchases, sales, or other transactions, as well as with respect to all other things necessary or incidental to the furtherance or conduct of such purchases, sales or other transactions.

Scope of Authority. Subject to supervision by the Adviser Manager and Trustees, the Sub-Adviser will formulate and implement provide a continuous investment program for each Fund and determine, for each Fund, determine what securities and other investments will be purchased, retained, sold or loaned by the each Fund and what portion of such assets will be invested or held uninvested as cash. The Sub-Adviser will exercise discretion and act for the each Fund in the same manner and with the same force and effect as the such Fund itself might or could do with respect to purchases, sales, or other transactions, as well as with respect to all other things necessary or incidental to the furtherance or conduct of such purchases, sales or other transactions.

Scope of Authority. Subject to supervision by the Adviser Manager and Trustees, the Primary Sub-Adviser will formulate and implement oversee the Sub-Advisers in providing a continuous investment program for each Fund and determine, for each Fund, determining what securities and other investments will be purchased, retained, sold or loaned by the each Fund and what portion of such assets will be invested or held uninvested as cash. The Primary Sub-Adviser will exercise discretion and act for the each Fund in the same manner and with the same force and effect as the such Fund itself might or could do with respect to purchases, sales, or other transactions, as well as with respect to all other things necessary or incidental to the furtherance or conduct of such purchases, sales or other transactions.