Common use of EFFECTIVENESS, DURATION AND TERMINATION Clause in Contracts

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after immediately upon approval by (1) a majority of the outstanding voting securities interests of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities interests of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities interests of the a Fund on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a the Fund on immediately upon the date above after later of approval by a majority of the Trust's Trustees who are not parties to this Agreement or interested persons of any such party (1other than as trustees of the Trust) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a the Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a the Fund, the Adviser Subadvisor may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a the Fund at any time, without the payment of any penalty: , (i) by the Board or Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Advisor on 60 days' written notice to the Adviser; Subadvisor or (ii) by the Adviser Subadvisor on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignmentassignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a the Fund on immediately upon the date above after later of approval by a majority of the Trust's Trustees who are not interested persons (1as defined in the ▇▇▇▇ ▇▇▇) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a the Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, andand in, in either case; , (ii) by a majority of the Trust's trustees Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to a the Fund, the Adviser Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a the Fund at any time, without the payment of any penalty: , (i) by the Board or Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Adviser on 60 days' written notice to the Adviser; Subadviser or (ii) by the Adviser Subadviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignmentassignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser Advisor may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the AdviserAdvisor; or (ii) by the Adviser Advisor on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after immediately upon approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after Portfolio immediately upon approval by (1) a majority of the outstanding voting securities interests of that Fund and (2) a majority of the Board who are not interested parties of the TrustPortfolio. (b) This Agreement shall remain in effect with respect to a Fund Portfolio for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the FundPortfolio; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities interests of the FundPortfolio, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a FundPortfolio, the Adviser may continue to render to that Fund Portfolio the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund Portfolio at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund Portfolio on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a the Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a the Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a the Fund, the Adviser may continue to render to that the Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a the Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after Portfolio immediately upon approval by (1) a majority of the outstanding voting securities interests of that Fund and (2) a majority of the Board who are not interested parties of the TrustPortfolio. (b) This Agreement shall remain in effect with respect to a Fund Portfolio for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the FundPortfolio; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities interests of the FundPortfolio, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a FundPortfolio, the Adviser may continue to render to that Fund Portfolio the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund Portfolio at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities interests of the Fund a Portfolio on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after immediately upon approval by (1) a majority of the outstanding voting securities interests of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities Shares of the Fund, and, in either case; (ii) , by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities Shares of the a Fund on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement agreement shall terminate immediately automatically upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after immediately upon approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by the vote of a majority of the TrustCorporation's trustees directors who are not parties to this Agreement or interested persons of any such party (other than as trustees directors of the Trust)Corporation) cast in person at a meeting called for the purpose of voting on such approval; provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the TrustCorporation. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board Trust's trustees who are not parties to this Agreement or interested parties persons of any such party (other than as trustees of the Trust). (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund Fund, if required by the 1940 Act, and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a the Fund on immediately upon the date above after later of approval by a majority of the Trust's Trustees who are not interested persons (1as defined in the ▇▇▇▇ ▇▇▇) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a the Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, andand in, in either case; , (ii) by a majority of the Trust's trustees ’s Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to a the Fund, the Adviser Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a the Fund at any time, without the payment of any penalty: , (i) by the Board or Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Adviser on 60 days' written notice to the Adviser; Subadviser or (ii) by the Adviser Subadviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignmentassignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund Fund, if required by the 1940 Act, and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's ’s trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' ’ written notice to the Adviser; or (ii) by the Adviser on 60 days' ’ written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's ’s trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' ’ written notice to the Adviser; or (ii) by the Adviser on 60 days' ’ written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund (if required) and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after immediately upon approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a Fund, the Adviser Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities interests of the Fund a Portfolio on 60 days' written notice to the Adviser; Subadviser or (ii) by the Adviser Subadviser on 60 days' written notice to the Trust. This Agreement agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after Portfolio immediately upon approval by (1) a majority of the outstanding voting securities interests of that Fund and (2) a majority of the Board who are not interested parties of the TrustPortfolio. (b) This Agreement shall remain in effect with respect to a Fund Portfolio for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the Fund; Portfolio, provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities interests of the FundPortfolio, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a FundPortfolio, the Adviser may continue to render to that Fund Portfolio the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund Portfolio at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities interests of the Fund a Portfolio on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after Funds immediately upon the later of approval by a majority of the Trust's Trustees who are not interested persons (1as defined in the ▇▇▇▇ ▇▇▇) and, if required by applicable law, by a vote of a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a Fund the Funds for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the FundFunds; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, andand in, in either case; , (ii) by a majority of the Trust's trustees Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Adviser on 60 days' written notice to the Adviser; Subadviser or (ii) by the Adviser Subadviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignmentassignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a the Fund on the date above after immediately upon approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a the Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a the Fund, the Adviser may continue to render to that the Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to the a Fund at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund Series on the date above after approval by (1) a majority of the outstanding voting securities of that Fund Series (if required) and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund Series for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the FundSeries; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the FundSeries, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a FundSeries, the Adviser may continue to render to that Fund Series the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund Series at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund Series on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after immediately upon approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1i) a majority of the outstanding voting securities of that Fund and (2ii) a majority of the Board Trustees who are not interested parties of persons (as defined in the Trust1940 Act). (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its initial effectiveness with respect to that Fund and shall continue in effect for successive annual periods with respect to the that Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to a the Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment. Termination of this Agreement with respect to a given Fund shall not affect the continued validity of this Agreement or the performance thereunder with respect to any other Fund.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees Trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunderthereunder until such time as a new adviser is selected. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 sixty (60) days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 sixty (60) days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority hereof. Upon effectiveness of this Agreement, it shall supersede all previous agreements between the outstanding voting securities of that Fund and (2) a majority of parties hereto covering the Board who are not interested parties of subject matter hereof insofar as such Agreement may have been deemed to relate to the TrustFund. (b) This Agreement shall remain continue in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fundtwelve-month periods; provided provided, however, that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: annually (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund and (ii) by a vote of a majority of Trustees of the Trust who are not parties to this agreement or interested persons of any such party (other than as Trustees of the Trust); provided further, however, that if the continuation of this agreement is not approved, Administrator may continue to render to the Fund the services described herein in the manner and to the extent permitted by the Act and the rules and regulations thereunder. (c) This Agreement may be terminated at any time, without the payment of any penalty, (i) by the Board on 60 days' written notice to the Adviser; Administrator or (ii) by the Adviser Administrator on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1i) a majority of the outstanding voting securities of that Fund and (2ii) a majority of the Board Trustees who are not interested parties of persons (as defined in the Trust1940 Act). (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, andand in, in either case; , (ii) by a majority of the Trust's trustees Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after immediately upon approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the TrustFund. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (iI) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (iI) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority hereof. Upon effectiveness of this Agreement, it shall supersede all previous agreements between the outstanding voting securities of that Fund and (2) a majority of parties hereto covering the Board who are not interested parties of the Trustsubject matter hereof insofar as such Agreement may have been deemed to relate to each Fund. (b) This Agreement shall remain continue in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fundtwelve-month periods; provided provided, however, that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: annually (i) by the Board or by a vote of a majority of the outstanding voting securities of each Fund and (ii) by a vote of a majority of Trustees of the Trust who are not parties to this agreement or interested persons of any such party (other than as Trustees of the Trust); provided further, however, that if the continuation of this agreement is not approved, Administrator may continue to render to each Fund the services described herein in the manner and to the extent permitted by the Act and the rules and regulations thereunder. (c) This Agreement may be terminated at any time, without the payment of any penalty, (i) by the Board on 60 days' written notice to the Adviser; Administrator or (ii) by the Adviser Administrator on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after Portfolio immediately upon approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority interests of the Board who are not interested parties of the TrustPortfolio. (b) This Agreement shall remain in effect with respect to a Fund the Portfolio for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual twelve-month periods (computed from each anniversary date of the approval) with respect to the FundPortfolio; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities interests of the FundPortfolio, and, in either case; , (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if this Agreement or the continuation of this Agreement is not approved as to a Fundthe Portfolio, the Adviser may continue to render to that Fund the Portfolio the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund the Portfolio at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities interests of the Fund Portfolio on 60 days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on immediately upon the date above after approval of this Agreement by (1) a majority of the outstanding voting securities of that Fund and (2) Board, including a majority of the Board Trust's Trustees who are not interested parties of persons (as defined in the Trust1940 Act). (b) This Agreement shall remain in effect with respect to a the Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, andand in, in either case; , (ii) by a majority of the Trust's trustees ’s Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to a the Fund, the Adviser Subadviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or Board, by a vote of a majority of the outstanding voting securities of the Fund or by the Adviser on 60 days' written notice to the Adviser; Subadviser or (ii) by the Adviser Subadviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately (x) upon its assignmentassignment or (y) upon termination of the Advisory Agreement.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1i) a majority of the outstanding voting securities of that Fund and (2ii) a majority of the Board Trustees who are not interested parties of persons (as defined in the Trust1940 Act). (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, andand in, in either case; , (ii) by a majority of the Trust's trustees ’s Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' ’ written notice to the Adviser; or (ii) by the Adviser on 60 days' ’ written notice to the Trust. This Agreement shall terminate immediately upon its assignment. Termination of this Agreement shall be without the payment of any penalty. Termination of this Agreement with respect to a given Fund shall not affect the continued validity of this Agreement or the performance thereunder with respect to any other Fund.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1) a majority of the outstanding voting securities of that Fund and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year from the date of its effectiveness and shall continue in effect for successive annual periods $$/BREAK/$$END with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a each Fund on the date above after approval by (1) a majority of the outstanding voting securities of that each Fund and (2) a majority of the Board who are not interested parties of the Trust. (b) This Agreement shall remain in effect with respect to a each Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the each Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the each Fund, and, in either case; (ii) by a majority of the Trust's trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a each Fund, the Adviser may continue to render to that each Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a each Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the each Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after approval by (1i) a majority of the outstanding voting securities of that Fund and (2ii) a majority of the Board Trustees who are not interested parties of persons (as defined in the Trust1940 Act). (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; (ii) by a majority of the Trust's trustees Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees of defined in the Trust1940 Act); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 days' written notice to the Adviser; or (ii) by the Adviser on 60 days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment. Termination of this Agreement with respect to a given Fund shall not affect the continued validity of this Agreement or the performance thereunder with respect to any other Fund.

EFFECTIVENESS, DURATION AND TERMINATION. (a) This Agreement shall become effective with respect to a Fund on the date above after immediately upon approval by (1) a majority of the outstanding voting securities of that Fund and (2) or approval by at least a majority of the Board who are not interested parties of the Trustall independent Trustees. (b) This Agreement shall remain in effect with respect to a Fund for a period of one year two years from the date of its effectiveness and shall continue in effect for successive annual periods with respect to the Fund; provided that such continuance is specifically approved at least annually: annually (i) by the Board or by the vote of a majority of the outstanding voting securities of the Fund, and, in either case; , (ii) by a majority of the Trust's trustees Trustees who are not parties to this Agreement or interested persons of any such party (other than as trustees Trustees of the Trust); provided further, however, that if the continuation of this Agreement is not approved as to a Fund, the Adviser may continue to render to that Fund the services described herein in the manner and to the extent permitted by the 1940 Act and the rules and regulations thereunder. (c) This Agreement may be terminated with respect to a Fund at any time, without the payment of any penalty: , (i) by the Board or by a vote of a majority of the outstanding voting securities of the Fund on 60 sixty (60) days' written notice to the Adviser; Adviser or (ii) by the Adviser on 60 sixty (60) days' written notice to the Trust. This Agreement shall terminate immediately upon its assignment.