Common use of Duties of Subadvisor Clause in Contracts

Duties of Subadvisor. The Investment Manager employs the Subadvisor to manage the investment and reinvestment of the assets of the Company, and to continuously review, supervise and (where appropriate) administer the investment program of the Company, to determine in its discretion (where appropriate) the investments to be purchased or sold, to provide the Administrator and the Company with records concerning the Subadvisor's activities which the Company is required to maintain, and to render regular reports to the Administrator and to the Company's officers and Directors concerning the Subadvisor's discharge of the foregoing responsibilities. The Subadvisor shall discharge the foregoing responsibilities subject to the control of the Investment Manager and in compliance with such policies as the Directors may from time to time establish, and in compliance with the objectives, policies, and limitations of the Company as set forth in its Prospectus, Statement of Additional Information and Operating Agreement, as amended from time to time, and applicable laws and regulations. The Subadvisor accepts such employment and agrees, at its own expense, to render the services and to provide the office space, furnishings and equipment and the personnel required by it to perform the services on the terms and for the compensation provided herein. The Subadvisor will not, however, pay for the cost of securities, commodities, and other investments (including brokerage commissions and other transaction charges, if any) purchased or sold for the Company.

Duties of Subadvisor. The Investment Manager employs the Subadvisor to manage the investment and reinvestment of the assets of the CompanyTrust, and to continuously review, supervise and (where appropriate) administer the investment program of the CompanyTrust, to determine in its discretion (where appropriate) the investments to be purchased or sold, to provide the Administrator and the Company Trust with records concerning the Subadvisor's activities which the Company Trust is required to maintain, and to render regular reports to the Administrator and to the CompanyTrust's officers and Directors Trustees concerning the Subadvisor's discharge of the foregoing responsibilities. The Subadvisor shall discharge the foregoing responsibilities subject to the control of the Investment Manager and in compliance with such policies as the Directors Trustees may from time to time establish, and in compliance with the objectives, policies, and limitations of the Company each Fund as set forth in its Prospectus, Statement of Additional Information and Operating AgreementDeclaration of Trust, as amended from time to time, and applicable laws and regulations. The Subadvisor accepts such employment and agrees, at its own expense, to render the services and to provide the office space, furnishings and equipment and the personnel required by it to perform the services on the terms and for the compensation provided herein. The Subadvisor will not, however, pay for the cost of securities, commodities, and other investments (including brokerage commissions and other transaction charges, if any) purchased or sold for the CompanyTrust.