Common use of Sub-Advisors Clause in Contracts

Sub-Advisors. The Advisor is hereby authorized to enter into one or more investment sub-advisory agreements (each a “Sub-Advisory Agreement”) with other investment advisors (each a “Sub-Advisor”) pursuant to which the Advisor may obtain the services of such Sub-Advisor(s) to assist the Advisor in fulfilling its responsibilities hereunder, subject to the oversight of the Advisor and/or the Company, with the scope of such services and oversight to be set forth in each Sub-Advisory Agreement. (i) The Advisor and not the Company shall be responsible for any compensation payable to any Sub-Advisor; provided, however, that the Advisor shall have the right to direct the Company to pay directly to any Sub-Advisor the amounts due and payable to such Sub-Advisor from the fees and expenses payable to the Advisor under this Agreement. (ii) Any Sub-Advisory Agreement entered into by the Advisor shall be in accordance with the requirements of the 1940 Act and the Advisers Act, including without limitation, the requirements of the 1940 Act relating to Board of Trustees and Company shareholder approval thereunder, and other applicable federal and state law. (iii) Any Sub-Advisor shall be subject to the same fiduciary duties as are imposed on the Advisor pursuant to this Agreement, the 1940 Act and the Advisers Act, as well as other applicable federal and state law.

Sub-Advisors. The Advisor is hereby authorized to enter into one or more investment sub-advisory agreements (each a “Sub-Advisory Agreement”) with other investment advisors advisers (each a “Sub-Advisor”) pursuant to which the Advisor may obtain the services of such the Sub-Advisor(s) to assist the Advisor in fulfilling its responsibilities hereunder, subject to the oversight of the Advisor and/or the Company, with the scope of such services and oversight to be set forth in each Sub-Advisory Agreement. (i) The Advisor and not the Company shall be responsible for any compensation payable to any Sub-Advisor; provided, however, that the Advisor shall have the right to direct the Company to pay directly to any Sub-Advisor the amounts due and payable to such Sub-Advisor from the fees and expenses otherwise payable to the Advisor under this Agreement. (ii) Any Sub-Advisory Agreement entered into by the Advisor shall be in accordance with the requirements of the 1940 Act and the Advisers Act, including without limitation, the requirements of the 1940 Act relating to Board of Trustees and Company shareholder approval thereunder, and other applicable federal and state law. (iii) Any Sub-Advisor shall be subject to the same fiduciary duties as are imposed on the Advisor pursuant to this Agreement, the 1940 Act and the Advisers Act, as well as other applicable federal and state law.