Common use of Delegation and Sub-Delegation Clause in Contracts

Delegation and Sub-Delegation. Subject to and in accordance with the terms and conditions herein contained (including Section 3.01), ECT may delegate (by subcontract or otherwise) the performance of the Services to any Person without the prior written consent of the Trustee, provided that such delegation shall not relieve ECT of the responsibility for performance of the Services. In particular, it is agreed that ECT may, in its discretion, delegate responsibility to the Administrator for carrying out some or all of the requisite actions or matters necessary to execute the decisions made by ECT in connection with those matters for which ECT has been given responsibility hereunder, as set forth in Section 2.01. Where ECT expressly or impliedly delegates such responsibility to the Administrator, then such activities and matters for which the Administrator is delegated responsibility shall be considered and deemed to be part of the duties and services being provided by the Administrator to the Fund pursuant to the Administration Agreement, the performance of which shall be subject to the terms, conditions and limitations set forth therein.