Common use of Appointment of the Subadviser Clause in Contracts

Appointment of the Subadviser. The Manager hereby appoints the Subadviser to act as an investment subadviser for the Portfolio and to manage the investment and reinvestment of the assets of the Portfolio, subject to the supervision of the Directors of the Fund and the terms and conditions of this Agreement. The Subadviser will be an independent contractor and will have no authority to act for or represent the Fund or Manager in any way or otherwise be deemed an agent of the Fund or Manager except as expressly authorized in this Agreement or another writing by the Fund, Manager and the Subadviser. Notwithstanding the foregoing, the Subadviser may execute account documentation, agreements, contracts and other documents as the Subadviser may be requested by brokers, dealers, counterparts and other persons in connection with the Subadviser's management of the assets of the Portfolio. In such respect, and only for this limited purpose, the Subadviser shall act as the Manager and/or the Fund's agent and attorney-in-fact.

Appointment of the Subadviser. The Manager hereby appoints the Subadviser to act as an investment subadviser for the Portfolio and to manage the investment and reinvestment of the assets of the Portfolio, subject to the supervision of the Directors of the Fund and the terms and conditions of this Agreement. The Subadviser will be an independent contractor and will have no authority to act for or represent the Fund or Manager in any way or otherwise be deemed an agent of the Fund or Manager except as expressly authorized in this Agreement or another writing by the Fund, Manager and the Subadviser. Notwithstanding the foregoing, the Subadviser may execute account documentation, agreements, contracts and other documents as the Subadviser may be requested by brokers, dealers, counterparts counterparties and other persons in connection with the Subadviser's management of the assets of the Portfolio, provided that the Subadviser receives the express agreement and consent of the Manager and/or the Fund's Board of Directors to execute such documentation, agreements, contracts and other documents. In such respect, and only for this limited purpose, the Subadviser shall act as at the Manager and/or the Fund's agent and attorney-in-fact.