Common use of Absence of Violation or Default Clause in Contracts

Absence of Violation or Default. None of the Advisers is in violation of its certificate of incorporation, by-laws or other organizational documents nor in default under any agreement, indenture or instrument except for such violations or defaults that would not result in a material adverse effect on the respective Adviser or a Trust Material Adverse Effect on the Trust.

Absence of Violation or Default. None of the Advisers Neither Adviser is in violation of its certificate of incorporation, by-laws or other organizational documents nor in default under any agreement, indenture or instrument except for such violations or defaults that would not result in a material adverse effect on the respective Adviser or a Trust Material Adverse Effect on the Trust.

Absence of Violation or Default. None of the Advisers Neither Adviser is in violation of (i) its certificate of formation or certificate of incorporation, as the case may be, (ii) its limited liability company agreement or by-laws or other organizational documents documents, as the case may be, nor in default under any agreement, indenture or instrument except for such violations or defaults that would not result in reasonably be expected to have a material adverse effect on the ability of respective Adviser to perform its obligations under, as applicable, the Management Agreement, the Sub-Advisory Agreement or a Trust Material Adverse Effect on the TrustFee Agreements.

Absence of Violation or Default. None of the Advisers Neither Adviser is in violation of its certificate of incorporationformation, limited liability company agreement, by-laws or other organizational documents nor in default under any agreement, indenture or instrument except for such violations or defaults that would not result in reasonably be expected to have a material adverse effect on the ability of the respective Adviser to perform its obligations under, as applicable, the Management Agreement, the Sub-Advisory Agreement or a Trust Material Adverse Effect on the TrustAdditional Compensation Agreements.

Absence of Violation or Default. None of the Advisers Neither Adviser is in violation of its certificate of incorporationformation, limited liability company agreement, by-laws or other organizational documents nor in default under any agreement, indenture or instrument except for such violations or defaults that would not result in a material adverse effect on the respective Adviser or a Trust Material Adverse Effect on the Trust.

Absence of Violation or Default. None of the Advisers Neither Adviser is in violation of its certificate of incorporationformation, by-laws its operating agreement or other organizational documents nor or in default under any agreement, indenture or instrument except for instrument, where such violations violation or defaults that default would not result in reasonably be expected to have a material adverse effect on either Adviser's ability to function as an investment adviser or perform its obligations under the respective Adviser Management Agreement or a Trust Material Adverse Effect on the TrustPortfolio Management Agreement, as applicable.