Common use of Activities of Administrator Clause in Contracts

Activities of Administrator. (a) The services furnished by the --------------------------- Administrator to the Fund hereunder are not to be deemed exclusive, and the Administrator and its affiliates shall be free to render services to others and engage in other activities; provided, however, that any such other services and activities do not, during the term of this Agreement, interfere, in a material manner, with the Administrator's ability to meet all of its obligations to the Fund hereunder. (b) Subject to and in accordance with the charter and bylaws of the Fund, the 1940 Act and the rules thereunder, it is understood that directors, officers, agents and shareholders of the Fund are or may be interested in the Administrator or its affiliated persons as directors, officers, agents or shareholders or otherwise; that directors, officers, agents and shareholders of the Administrator or its affiliated persons are or may be interested in the Fund as directors, officers, agents, shareholders or otherwise; that the Administrator or its affiliated persons may be interested in the Fund as a shareholder or otherwise; and that the effect of any such interests shall be governed by the charter and bylaws of the Fund and the 1940 Act and the rules thereunder.