Common use of Term and Continuation Clause in Contracts

Term and Continuation. This Agreement shall take effect as of the date indicated above, and shall remain in effect, unless sooner terminated as provided herein, for one year from such date, and shall continue thereafter on an annual basis with respect to each Fund provided that such continuance is specifically approved at least annually: (a) by the vote of a majority of the Board of Trustees of the Trust, and (b) by the vote of a majority of the Board of Trustees of the Trust who are not parties to this Agreement or “interested persons” (as defined in the 1940 Act) (“Independent Trustees”) of the Trust or the Adviser, cast in person at a meeting called for the purpose of voting on such approval. Failure of the Independent Trustees to renew this Agreement and/or its termination by shareholder vote, assignment, or otherwise, shall not preclude the Board of Trustees from approving a substitute agreement in the manner provided under applicable law. This Agreement may be terminated: (a) by the Trust at any time with respect to the services provided by the Adviser, without the payment of any penalty, by vote of a majority of the entire Board of Trustees of the Trust or by a vote of a majority of the outstanding voting shares of the Trust or, with respect to a particular Fund or class, by vote of a majority of the outstanding voting shares of such Fund or class, on sixty (60) days’ written notice to the Adviser; (b) at the expiration of the one-year period commencing on the date of this Agreement, by the Adviser at any time, without the payment of any penalty, upon sixty (60) days’ written notice to the Trust.

Term and Continuation. This Agreement shall take effect as of the date indicated above, and shall remain in effect, unless sooner terminated as provided herein, for one year from such date, and shall continue thereafter on an annual basis with respect to each Fund provided that such continuance is specifically approved at least annually: (a) by the vote of a majority of the Board of Trustees of the Trust, and (b) by the vote of a majority of the Board of Trustees of the Trust who are not parties to this Agreement or “interested persons” (as defined in the 1940 Act) (“Independent Trustees”) of the Trust or the AdviserManager, cast in person at a meeting called for the purpose of voting on such approval. Failure of the Independent Trustees to renew this Agreement and/or its termination by shareholder vote, assignment, or otherwise, shall not preclude the Board of Trustees from approving a substitute agreement in the manner provided under applicable law. This Agreement may be terminated: (a) by the Trust at any time with respect to the services provided by the AdviserManager, without the payment of any penalty, by vote of a majority of the entire Board of Trustees of the Trust or by a vote of a majority of the outstanding voting shares of the Trust or, with respect to a particular Fund or class, by vote of a majority of the outstanding voting shares of such Fund or class, on sixty (60) days’ written notice to the AdviserManager; (b) at the expiration of the one-year period commencing on the date of this Agreement, by the Adviser Manager at any time, without the payment of any penalty, upon sixty (60) days’ written notice to the Trust.

Term and Continuation. This Agreement shall take effect as of the date indicated above, and shall remain in effect, unless sooner terminated as provided herein, for one year from such date, and shall continue thereafter on an annual basis with respect to each Fund provided that such continuance is specifically approved at least annually: (a) by the vote of a majority of the Board of Trustees of the Trust, and (b) by the vote of a majority of the Board of Trustees of the Trust who are not parties to this Agreement or “interested persons” (as defined in the 1940 Act) (“Independent Trustees”) of the Trust or the AdviserManager, cast in person at a meeting called for the purpose of voting on such approval. Failure of the Independent Trustees to renew this Agreement and/or its termination by shareholder vote, assignment, or otherwise, shall not preclude the Board of Trustees from approving a substitute agreement in the manner provided under applicable law. This Agreement may be terminated: (a) by the Trust at any time with respect to the services provided by the AdviserManager, without the payment of any penalty, by vote of a majority of the entire Board of Trustees of the Trust or by a vote of a majority of the outstanding voting shares of the Trust or, with respect to a particular Fund or class, by vote of a majority of the outstanding voting shares of such Fund or class, on sixty (60) days’ written notice to the Adviser;Manager; or (b) at the expiration of the one-year period commencing on the date of this Agreement, by the Adviser Manager at any time, without the payment of any penalty, upon sixty (60) days’ written notice to the Trust.

Term and Continuation. This Agreement shall take effect as of the date indicated abovehereof, and shall remain in effect, unless sooner terminated as provided herein, with respect to the Fund for one year from such date, and a period of two years following the date set forth on the attached Schedule. This Agreement shall continue thereafter on an annual basis with respect to each the Fund provided that such continuance is specifically approved at least annually: annually (a) by the vote of a majority of the Board of Trustees of the Trust, and or (b) by vote of a majority of the outstanding voting shares of the Fund, and provided continuance is also approved by the vote of a majority of the Board of Trustees of the Trust who are not parties to this Agreement or “interested persons” (as defined in the 1940 Act) (“Independent Trustees”▇▇▇▇ ▇▇▇) of the Trust Trust, or the Adviser, cast in person at a meeting called for the purpose of voting on such approval. Failure This Agreement may not be materially amended without a vote of a majority of the Independent Trustees outstanding voting shares (as defined in the ▇▇▇▇ ▇▇▇) of the Fund. This Agreement will terminate automatically with respect to renew this Agreement and/or the services provided by the Adviser in the event of its termination by shareholder vote, assignment, or otherwise, shall not preclude the Board of Trustees from approving a substitute agreement as that term is defined in the manner provided under applicable law1940 Act, by the Adviser. This Agreement may be terminated: (a) a. by the Trust Fund at any time with respect to the services provided by the Adviser, without the payment of any penalty, by vote of a majority of the entire Board of Trustees of the Trust or by a vote of a majority of the outstanding voting shares of the Trust or, with respect to a particular Fund or class, by vote of a majority of the outstanding voting shares of such Fund or classFund, on sixty (60) 60 days’ written notice to the Adviser; and by a vote of a majority of the Trustees of the Trust who are not “interested persons” (as such term is defined in the ▇▇▇▇ ▇▇▇) of the Trust; (b) at the expiration of the one-year period commencing on the date of this Agreement, b. by the Adviser at any time, without the payment of any penalty, upon sixty (60) 60 days’ written notice to the TrustFund.