Common use of SERVICES TO BE RENDERED BY MANAGER TO THE TRUST Clause in Contracts

SERVICES TO BE RENDERED BY MANAGER TO THE TRUST. (a) Subject always to the control of the Trustees of the Trust, the Manager will, at its expense, furnish continuously an investment program for the Fund, will make investment decisions on behalf of the Fund and will, subject to the provisions of paragraph (c), place all orders for the purchase and sale of its portfolio securities. Subject always to the control of the Trustees of the Fund, the Manager will also manage, supervise and conduct the other affairs and business of the Fund and matters incidental thereto. In the performance of its duties, the Manager will comply with the provisions of the Agreement and Declaration of Trust, the By-laws of the Trust and the Fund's stated investment objectives, policies and restrictions as set forth in its Registration Statement on Form N-1A, File No. 33-57732 and will use its best efforts to safeguard and promote the welfare of the Fund and to comply with other policies which the Trustees may from time to time determine.