Common use of Services as Investment Manager Clause in Contracts

Services as Investment Manager. Subject to the ultimate supervision and direction of the Fund’s Board of Directors (the “Board”), the Investment Manager will (a) provide overall investment management to the Fund, and make investment decisions for the Fund, in accordance with its investment objective, guidelines and restrictions specified in Schedule A hereto, as may be amended from time to time by mutual consent of the Investment Manager and the Fund; (b) oversee the placement of purchase and sale orders on behalf of the Fund; (c) employ professional portfolio managers and securities analysts to provide research services to the Fund; (d) maintain books and records with respect to the Fund’s transactions; (e) provide or procure administrative services for the Fund and coordinate the activities of, and act as liaison with, each party providing legal, audit, tax, administrative, custodian and/or other services to the Fund in accordance with the Articles and the agreements in respect of such service arrangements; and (f) provide such other services as the Fund and the Investment Manager may determine to be necessary or appropriate for the management or administration of the Fund. In providing those services, the Investment Manager will (i) invest and otherwise manage the assets of the Fund in accordance with the Articles and (ii) provide the Fund with ongoing research, analysis, advice and judgments regarding individual investments, general economic conditions and trends and long-range investment policy. The Investment Manager is authorized on behalf of the Fund to enter into agreements and execute any documents required to make investments. To the fullest extent permitted by law, the Investment Manager is hereby authorized to delegate all, or any such part as it deems appropriate, of its discretionary management and investment advisory authority and responsibility hereunder to other persons or entities, including its affiliates. The Investment Manager further agrees that, in performing its duties hereunder, it will: (1) comply with the Advisers Act and all rules and regulations thereunder, the U.S. Commodity Exchange Act (the “CEA”), and all rules and regulations thereunder, the U.S. Internal Revenue Code of 1986, as amended (the “Code”), and all other applicable U.S. federal and state law and regulations, and with any applicable policies or procedures adopted by the Board; (2) maintain books and records with respect to the Fund’s transactions, render to the Board such periodic and special reports as the Board may reasonably request, and keep the Board informed of developments materially affecting the Fund’s portfolio; (3) furnish the Fund with whatever statistical information the Fund may reasonably request with respect to the investments that the Fund may hold or contemplate purchasing; (4) make available to the Fund’s administrator (the “Administrator”) and the Fund, promptly upon their request, such copies of its investment records and ledgers with respect to the Fund as may be required to assist the Administrator and the Fund in their compliance with applicable laws and regulations. The Investment Manager will furnish the Board with such periodic and special reports regarding the Fund as the Board may reasonably request; and (5) immediately notify the Board in the event that the Investment Manager or any of its affiliates: (i) becomes aware that it is subject to a statutory disqualification that prevents the Investment Manager from serving as investment advisor pursuant to this Agreement; or (ii) becomes aware that it is the subject of an administrative proceeding or enforcement action by the U.S. Securities and Exchange Commission or other regulatory authority.

Services as Investment Manager. Subject to the ultimate supervision and direction of the Fund’s 's Board of Directors (the “"Board”"), the Investment Manager will (a) provide overall investment management to the Fund, and make investment decisions for the Fund, in accordance with its investment objective, guidelines and restrictions specified in Schedule A hereto, as may be amended from time to time by mutual consent of the Investment Manager and the Fund; (b) oversee the placement of purchase and sale orders on behalf of the Fund; (c) employ professional portfolio managers and securities analysts to provide research services to the Fund; (d) maintain books and records with respect to the Fund’s 's transactions; (e) provide or procure administrative services for the Fund and coordinate the activities of, and act as liaison with, each party providing legal, audit, tax, administrative, custodian and/or other services to the Fund in accordance with the Articles and the agreements in respect of such service arrangements; and (f) provide such other services as the Fund and the Investment Manager may determine to be necessary or appropriate for the management or administration of the Fund. In providing those services, the Investment Manager will (i) invest and otherwise manage the assets of the Fund in accordance with the Articles and (ii) provide the Fund with ongoing research, analysis, advice and judgments regarding individual investments, general economic conditions and trends and long-range investment policy. The Investment Manager is authorized on behalf of the Fund to enter into agreements and execute any documents required to make investments. To the fullest extent permitted by law, the Investment Manager is hereby authorized to delegate all, or any such part as it deems appropriate, of its discretionary management and investment advisory authority and responsibility hereunder to other persons or entities, including its affiliates. The Investment Manager further agrees that, in performing its duties hereunder, it will: (1) comply with the Advisers Act and all rules and regulations thereunder, the U.S. Commodity Exchange Act (the “"CEA”"), and all rules and regulations thereunder, the U.S. Internal Revenue Code of 1986, as amended (the “"Code”"), and all other applicable U.S. federal and state law and regulations, and with any applicable policies or procedures adopted by the Board; (2) maintain books and records with respect to the Fund’s 's transactions, render to the Board such periodic and special reports as the Board may reasonably request, and keep the Board informed of developments materially affecting the Fund’s 's portfolio; (3) furnish the Fund with whatever statistical information the Fund may reasonably request with respect to the investments that the Fund may hold or contemplate purchasing; (4) make available to the Fund’s 's administrator (the “"Administrator”") and the Fund, promptly upon their request, such copies of its investment records and ledgers with respect to the Fund as may be required to assist the Administrator and the Fund in their compliance with applicable laws and regulations. The Investment Manager will furnish the Board with such periodic and special reports regarding the Fund as the Board may reasonably request; and (5) immediately notify the Board in the event that the Investment Manager or any of its affiliates: (i) becomes aware that it is subject to a statutory disqualification that prevents the Investment Manager from serving as investment advisor pursuant to this Agreement; or (ii) becomes aware that it is the subject of an administrative proceeding or enforcement action by the U.S. Securities and Exchange Commission or other regulatory authority.

Services as Investment Manager. Subject to the ultimate supervision and direction of the Fund’s Board of Directors (the “Board”), the Investment Manager will (a) provide overall investment management to the Fund, and make investment decisions for the Fund, in accordance with its investment objective, guidelines and restrictions specified in Schedule A heretothe Parent Company’s Prospectus, as may be amended and or supplemented from time to time by mutual consent of the Investment Manager and the Fundtime; (b) oversee the placement of purchase and sale orders on behalf of the Fund; (c) employ professional portfolio managers and securities analysts to provide research services to the Fund; (d) maintain books and records with respect to the Fund’s transactions; (e) provide or procure administrative services for the Fund and coordinate the activities of, and act as liaison with, each party providing legal, audit, tax, administrative, custodian and/or other services to the Fund in accordance with the Articles and the agreements in respect of such service arrangements; and (f) provide such other services as the Fund and the Investment Manager may determine to be necessary or appropriate for the management or administration of the Fund. In providing those services, the Investment Manager will (i) invest and otherwise manage the assets of the Fund in accordance with the Articles and (ii) provide the Fund with ongoing research, analysis, advice and judgments regarding individual investments, general economic conditions and trends and long-range investment policy. The Investment Manager is authorized on behalf of the Fund to enter into agreements and execute any documents required to make investments. To the fullest extent permitted by law, the Investment Manager is hereby authorized to delegate all, or any such part as it deems appropriate, of its discretionary management and investment advisory authority and responsibility hereunder to other persons or entities, including its affiliates. The Investment Manager further agrees that, in performing its duties hereunder, it will: (1) comply with the Advisers Act and all rules and regulations thereunder, the U.S. Commodity Exchange Act (the “CEA”), and all rules and regulations thereunder, the U.S. Internal Revenue Code of 1986, as amended (the “Code”), and all other applicable U.S. federal and state law and regulations, and with any applicable policies or procedures adopted by the Board; (2) maintain books and records with respect to the Fund’s transactions, render to the Board such periodic and special reports as the Board may reasonably request, and keep the Board informed of developments materially affecting the Fund’s portfolio; (3) furnish the Fund with whatever statistical information the Fund may reasonably request with respect to the investments that the Fund may hold or contemplate purchasing; (4) make available to the Fund’s administrator (the “Administrator”) and the Fund, promptly upon their request, such copies of its investment records and ledgers with respect to the Fund as may be required to assist the Administrator and the Fund in their compliance with applicable laws and regulations. The Investment Manager will furnish the Board with such periodic and special reports regarding the Fund as the Board may reasonably request; and (5) immediately notify the Board in the event that the Investment Manager or any of its affiliates: (i) becomes aware that it is subject to a statutory disqualification that prevents the Investment Manager from serving as investment advisor pursuant to this Agreement; or (ii) becomes aware that it is the subject of an administrative proceeding or enforcement action by the U.S. Securities and Exchange Commission or other regulatory authority.