Common use of Term and Approval Clause in Contracts

Term and Approval. This Agreement shall become effective with respect to a Fund after it is approved in accordance with the express requirements of the 1940 Act, and executed by the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (i) by the Trust’s Board of Trustees or (ii) by the vote of “a majority of the outstanding voting securities” of the Fund (as defined in Section 2(a)(42) of the 1940 Act, and by the affirmative vote of a majority of the Trust’s Trustees who are not parties to this Agreement or “interested persons” (as defined in the 0000 Xxx) of a party to this Agreement (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund after it is approved in accordance with the express requirements of the 1940 Act, and executed by the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (i) by the Trust’s 's Board of Trustees or (ii) by the vote of “"a majority of the outstanding voting securities” " of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s 's Trustees who are not parties to this Agreement or “"interested persons” " (as defined in the 0000 Xxx) of a party to this Agreement (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund for an initial two-year term after it is being approved in accordance with the express requirements of the 1940 Act, and executed by the Manager and the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is specifically approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (ia) by the Trust’s Board of Trustees Board, or (ii) by the vote of “a majority of the outstanding voting securities” of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s Trustees who are not parties to this Agreement or “interested persons” (as defined in the 0000 Xxx1940 Act) of a party to this Agreement (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund for an initial two-year term after it is being approved in accordance with the express requirements of the 1940 Act, and executed by the Manager and the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is specifically approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (ia) by the Trust’s Board of Trustees Board, or (ii) by the vote of “a majority of the outstanding voting securities” of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s Trustees who are not parties to this Agreement or “interested persons” (as defined in the 0000 Xxx) of a party to this Agreement (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund after it is approved in accordance with the express requirements of the 1940 Act, and executed by the Adviser and the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is specifically approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (a) (i) by the Trust’s 's Board of Trustees or (ii) by the vote of “"a majority of the outstanding voting securities” " of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s Trustees 's Directors who are not parties to this Agreement or “"interested persons” " (as defined in the 0000 Xxx) of a party to this Agreement (other than as Trustees Directors of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund for an initial two-year term after it is being approved in accordance with the express requirements of the 1940 Act, and executed by the Manager and the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is specifically approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (ia) by the Trust’s Board of Trustees Board, or (ii) by the vote of “a majority of the outstanding voting securities” of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s Trustees who are not parties to this Agreement or “interested persons” (as defined in the 0000 1000 Xxx) of a party to this Agreement (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund after it is approved in accordance with the express requirements of the 1940 Act, and executed by the Trust, Adviser and Sub-Adviser and shall thereafter continue for an initial term ending June 30, 2017. Thereafter, the Agreement shall continue from year to year, provided that the continuation of the Agreement is approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (a) (i) by the Trust’s 's Board of Trustees or (ii) by the vote of “"a majority of the outstanding voting securities” " of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s 's Trustees who are not parties to this Agreement or “"interested persons” " (as defined in the 0000 Xxx) of a party to this Agreement (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund after it is approved in accordance with the express requirements of the 1940 Act, and executed by the Trust, Adviser and Sub-Adviser SubAdviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: annually (a) (i) by the Trust’s Trust s Board of Trustees or (ii) by the vote of “a majority of the outstanding voting securities” securities of the Fund (as defined in Section 2(a)(42) of the 1940 Act, and (b) by the affirmative vote of a majority of the Trust’s Trust s Trustees who are not parties to this Agreement or “interested persons” persons (as defined in the 0000 Xxx1940 Act) of a party to this Agreement thix Xxxxxxent (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund for an initial two-year term after it is approved in accordance with the express requirements of the 1940 Act, and executed by the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (ia) by the Trust’s Board of Trustees Board, or (ii) by the vote of “a majority of the outstanding voting securities” of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and or (b) by the affirmative vote of a majority of the Trust’s Trustees who are not parties to this Agreement or “interested persons” (as defined in the 0000 Xxx) of a party to this Agreement (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund for an initial two-year term after it is approved in accordance with the express requirements of the 1940 Act, and executed by the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (ia) by the Trust’s Board of Trustees Board, or (ii) by the vote of “a majority of the outstanding voting securities” of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s Trustees who are not parties to this Agreement or “interested persons” (as defined in the 0000 Xxx) of a party to this Agreement (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund for an initial two-year term after it is approved in accordance with the express requirements of the 1940 Act, and executed by the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (ia) by the Trust’s Board of Trustees Board, or (ii) by the vote of “a majority of the outstanding voting securities” of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s Trustees who are not parties to this Agreement or “interested persons” (as defined in the 0000 Xxx1940 Act) of a party to this Agreement (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a the Fund for an initial two-year term after it is being approved in accordance with the express requirements of the 1940 Act, Act and executed by the Adviser and the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is specifically approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (ia) by the Trust’s Board of Trustees Board, or (ii) by the vote of “"a majority of the outstanding voting securities” " of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s 's Trustees who are not parties to this Agreement or “"interested persons” " (as defined in the 0000 Xxx1940 Act) of a party to this Agreement thix Xxxxxxent (other than as Trustees of the Trust), by votes cast in person at a meeting specifically called for such purpose.

Term and Approval. This Agreement shall become effective with respect to a Fund after it is approved in accordance with the express requirements of the 1940 Act, and executed by the Adviser and the Trust, Adviser and Sub-Adviser and shall thereafter continue from year to year, provided that the continuation of the Agreement is specifically approved in accordance with the requirements of the 1940 Act, which currently requires that the continuation be approved at least annually: (ia) (I) by the Trust’s 's Board of Trustees or (ii) by the vote of “"a majority of the outstanding voting securities” " of the Fund (as defined in Section 2(a)(42) of the 1940 Act), and and (b) by the affirmative vote of a majority of the Trust’s Trustees 's Directors who are not parties to this Agreement or “"interested persons” " (as defined in the 0000 Xxx) of a party to this Agreement (other than as Trustees Directors of the Trust), by votes cast in person at a meeting specifically called for such purpose.