Common use of Supervision and Compliance Clause in Contracts

Supervision and Compliance. The activities of the Investment Adviser shall be subject at all times to the direction and control of the Board of Managers and shall comply with: (a) the Certificate of Formation of the Company and the Operating Agreement, as such documents are amended from time to time; (b) the investment objective and policies of the Company as initially set forth in the Registration Statement as such objective and policies may be amended from time to time with advance notice to the Investment Adviser; (c) the applicable provisions of the Investment Company Act and the applicable regulations thereunder; (d) any other applicable laws or regulations; and (e) such other limitations as the Board of Managers may adopt.

Supervision and Compliance. The activities of the Managing Investment Adviser shall be subject at all times to the direction and control of the Board of Managers Directors and shall comply with: (a) the Certificate Articles of Formation Incorporation of the Company and the Operating AgreementBy-Laws of the Company, as such documents are amended from time to time; (b) the Registration Statement, including the investment objective and policies of the Company as initially set forth in the Registration Statement as such objective and policies may be amended from time to time with advance notice to the Investment Advisertherein; (c) the applicable provisions of the Investment Company Act and the applicable regulations thereunder; (d) the Internal Revenue Code of 1986, as amended, and the regulations thereunder applicable to regulated investment companies; (e) any other applicable laws or regulations; and (ef) such other limitations as the Board of Managers Directors may adopt.