Common use of Status of the Advisor Clause in Contracts

Status of the Advisor. (a) Advisor's performance of its services required to be performed by it hereunder shall be performed as Advisor to the Trust in respect of the Fund. Nothing in this agreement shall be construed as creating an agency relationship between the Trust or the Fund and the Advisor with respect to any services or activities whether or not expressly provided for in this Agreement. Nothing in this Agreement shall be construed as creating a partnership, joint venture, co-venture, joint undertaking or employment arrangement by or between the Trust and Advisor. (b) It is understood that Advisor performs or may perform investment advisory, investment management or consulting services for accounts and/or clients other than the Trust. The Trust acknowledges that Advisor may provide investment advice or consulting services to any of its other accounts and/or clients that may differ from advice given to the Trust, or take action with respect to any of its other clients accounts and/or that may differ from the nature of action recommended with respect to the Trust. It is understood that Advisor shall have no obligation to purchase or sell, or to recommend for purchase or sale for the Trust, any security which Advisor, its principals, affiliates, employees or agents may purchase or sell for its own or their own accounts or for the account of any other client, if, in the opinion of Advisor, such transaction or investment appears unsuitable, impractical or undesirable for the Trust or does not comply with the terms and provisions of the Fund's Prospectus and Statement of Additional Information.

Status of the Advisor. (a) Advisor's performance of its services required to be performed by it hereunder shall be performed as Advisor to the Trust in respect of the FundFunds. Nothing in this agreement shall be construed as creating an agency relationship between the Trust or the a Fund and the Advisor with respect to any services or activities whether or not expressly provided for in this Agreement. Nothing in this Agreement shall be construed as creating a partnership, joint venture, co-venture, joint undertaking or employment arrangement by or between the Trust and Advisor. (b) It is understood that Advisor performs or may perform investment advisory, investment management or consulting services for accounts and/or clients other than the Trust. The Trust acknowledges that Advisor may provide investment advice or consulting services to any of its other accounts and/or clients that may differ from advice given to the Trust, or take action with respect to any of its other clients accounts and/or that may differ from the nature of action recommended with respect to the Trust. It is understood that Advisor shall have no obligation to purchase or sell, or to recommend for purchase or sale for the Trust, any security which Advisor, its principals, affiliates, employees or agents may purchase or sell for its own or their own accounts or for the account of any other client, if, in the opinion of Advisor, such transaction or investment appears unsuitable, impractical or undesirable for the Trust or does not comply with the terms and provisions of the Fund's Prospectus and Statement of Additional Information.

Status of the Advisor. (a) Advisor's performance of its services required to be performed by it hereunder shall be performed as Advisor to the Trust in respect of the Fund. Nothing in this agreement Agreement shall be construed as creating an agency relationship between the Trust or the Fund and the Advisor with respect to any services or activities whether or not expressly provided for in this Agreement. Nothing in this Agreement shall be construed as creating a partnership, joint venture, co-venture, joint undertaking or employment arrangement by or between the Trust and Advisor. (b) It is understood that Advisor performs or may perform investment advisory, investment management or consulting services for accounts and/or clients other than the Trust. The Trust acknowledges that Advisor may provide investment advice or consulting services to any of its other accounts and/or clients that may differ from advice given to the Trust, or take action with respect to any of its other clients accounts and/or that may differ from the nature of action recommended with respect to the Trust. It is understood that Advisor shall have no obligation to purchase or sell, or to recommend for purchase or sale for the Trust, any security which Advisor, its principals, affiliates, employees or agents may purchase or sell for its own or their own accounts or for the account of any other client, if, in the opinion of Advisor, such transaction or investment appears unsuitable, impractical or undesirable for the Trust or does not comply with the terms and provisions of the Fund's Prospectus and Statement of Additional Information.