Common use of Services as Placement Agent Clause in Contracts

Services as Placement Agent. (a) Forum will act as Placement Agent of the Interests covered by the Trust's registration statement then in effect under the 1940 Act. As Placement Agent, Forum shall have the right to sell Interests of the Portfolios upon the terms set forth in the Trust's registration statement, as such registration statement is amended and in effect from time to time. In acting as Placement Agent under the Placement Agency Agreement, neither Forum nor its employees nor any agents thereof shall make any offer or sale of Interests in a manner which would require the Interests to be registered under the Securities Act of 1933, as amended (the "1933 Act"). As used in this Agreement the term "registration statement" shall mean any registration statement filed with the Securities and Exchange Commission (the "Commission") as modified by any amendments thereto that at any time shall have been filed with the Commission by or on behalf of the Trust.