Common use of Activities of the Investment Adviser Clause in Contracts

Activities of the Investment Adviser. The services of the Investment Adviser to the Trust are not to be deemed to be exclusive; the Investment Adviser and any person controlled by or under common control with the Investment Adviser (for purposes of this Article V referred to as "affiliates") are free to render services to others. It is understood that the Board of Trustees, officers, employees and shareholders of the Trust are or may become interested in the Investment Adviser and its affiliates, as directors, officers, employees, partners, and shareholders or otherwise, and that the Investment Adviser and directors, officers, employees, partners and shareholders of the Investment Adviser and its affiliates are or may become similarly interested in the Trust as shareholders or otherwise.

Activities of the Investment Adviser. The services of the Investment Adviser to the Trust are not to be deemed to be exclusive; the Investment Adviser and any person controlled by or under common control with the Investment Adviser (for purposes of this Article V referred to as "affiliates") are free to render services to others. It is understood that the Board of Trustees, officers, employees and shareholders of the Trust are or may become interested in the Investment Adviser and its affiliates, as directors, officers, employees, partners, and shareholders or otherwise, otherwise and that the Investment Adviser and directors, officers, employees, partners partners, and shareholders of the Investment Adviser and its affiliates are or may become similarly interested in the Trust, and that the Investment Adviser and directors, officers, employees, shareholders, partners, and shareholders of its affiliates may become interested in the Trust as shareholders or otherwise.

Activities of the Investment Adviser. The services of the Investment Adviser to the Trust Portfolio are not to be deemed to be exclusive; , and the Investment Adviser and any person controlled by or under common control with the Investment Adviser (for purposes of this Article V referred to as "affiliates") are is free to render services to others. It is understood that the Board of TrusteesDirectors, officers, employees and shareholders stockholders of the Trust Fund or the Portfolio are or may become interested in the Investment Adviser and its affiliates, as directors, officers, employees, partners, partners and shareholders or otherwise, otherwise and that the Investment Adviser and the directors, officers, employees, partners and shareholders of the Investment Adviser and its affiliates are or may become similarly interested in the Trust Portfolio as shareholders stockholders or otherwise.

Activities of the Investment Adviser. The services of the Investment Adviser to the Trust are not to be deemed to be exclusive; , and the Investment Adviser and any person controlled by or under common control with the Investment Adviser (for purposes of this Article V referred to as "affiliates") are is free to render services to others. It is understood that the Board of Trustees, officers, employees and shareholders of the Trust are or may become interested in the Investment Adviser and its affiliates, as directors, officers, employees, partners, employees and shareholders or otherwiseotherwise and that directors, officers, employees and shareholders of the Investment Adviser and its affiliates are or may become similarly interested in the Trust, and that the Investment Adviser and directors, officers, employees, partners and shareholders of the Investment Adviser and its affiliates are or may become similarly interested in the Trust as shareholders or otherwise.