Common use of Supervision of the Clause in Contracts

Supervision of the. Investment Manager shall be the exclusive responsibility of the Company. Therefore, the Trustee shall have no duty to review any direction or any securities or other property held in any Directed Fund or to make suggestions to the Investment Manager or the Company with respect to the exercise or non-exercise of any power by the Investment Manager. The Trustee shall be fully protected in acting or omitting to act in accordance with or in the absence of the written directions of the Investment Manager or of the Company respecting any Company Directed Fund and shall be under no liability for any loss of any kind which may result by reason of any action taken or omitted by it in good faith in accordance with any such direction or by reason of inaction in the absence of such written directions.