Common use of Services as Investment Manager Clause in Contracts

Services as Investment Manager. Subject to the supervision, direction and approval of the Board of the Company, the Manager shall (a) maintain compliance procedures for the Portfolio that it reasonably believes are adequate to ensure the Portfolio's compliance with (i) the Investment Company Act of 1940, as amended (the "1940 Act") and the rules and regulations promulgated thereunder and (ii) the Portfolio's investment objective(s), policies and restrictions as stated in the Prospectus and the Statement; (b) make investment decisions for the Portfolio; (c) place purchase and sale orders for portfolio transactions on behalf of the Portfolio; (d) employ professional portfolio managers and securities analysts who provide research services to the Portfolio; and (e) administer the Portfolio's corporate affairs and, in connection therewith, furnish the Portfolio with office facilities and with clerical, bookkeeping and recordkeeping services at such office facilities. In providing those services, the Manager will conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of the Portfolio's assets.

Services as Investment Manager. Subject to the supervision, direction and approval of the Board of the Company, the Manager shall (a) maintain compliance procedures for the Portfolio Company that it reasonably believes are adequate to ensure the PortfolioCompany's compliance with (i) the Investment Company Act of 1940, as amended (the "1940 Act") and the rules and regulations promulgated thereunder and (ii) the PortfolioCompany's investment objective(s), policies and restrictions as stated in the Prospectus and the Statement; (b) make investment decisions for the PortfolioCompany; (c) place purchase and sale orders for portfolio transactions on behalf of the PortfolioCompany; (d) employ professional portfolio managers and securities analysts who provide research services to the PortfolioCompany; and (e) administer the PortfolioCompany's corporate affairs and, in connection therewith, furnish the Portfolio Company with office facilities and with clerical, bookkeeping and recordkeeping services at such office facilities. In providing those services, the Manager will conduct a continual program of investment, evaluation and, if appropriate, sale and reinvestment of the PortfolioCompany's assets.