Common use of Futures and Options Clause in Contracts

Futures and Options. The Sub-Adviser's investment authority shall include advice with regard to purchasing, selling, or covering open positions, and generally dealing in financial futures contracts and options thereon, in accordance with the rules and regulations of the Commodity Futures Trading Commission ("CFTC") applicable to registered investment companies and their investment advisers. The Sub-Adviser's authority shall include authority to: (i) open and maintain brokerage accounts for financial futures and options (such accounts hereinafter referred to as "Brokerage Accounts") on behalf of and in the name of the Growth Fund; and (ii) execute for and on behalf of the Brokerage Accounts, standard customer agreements with any broker or dealer. The Sub-Adviser may, using such of the securities and other property in the Brokerage Accounts as the Sub-Adviser deems necessary or desirable, direct the custodian to deposit on behalf of the Growth Fund, original and maintenance brokerage deposits and otherwise direct payments of cash, cash equivalents and securities and other property into such Brokerage Accounts and to such brokers as the Sub-Adviser deems desirable or appropriate. The Trust represents and warrants that it is a "qualified eligible client" within the meaning of CFTC Regulations Section 4.7 and, as such, consents to treat the Growth Fund in accordance with the exemption contained in CFTC Regulations Section 4.7(b).

Futures and Options. The Sub-Adviser's investment authority shall include advice with regard to purchasing, selling, or covering open positions, and generally dealing in financial futures contracts and options thereon, in accordance with the rules and regulations of the Commodity Futures Trading Commission ("CFTC") applicable to registered investment companies and their investment advisers. The Sub-Adviser's authority shall include authority to: (i) open and maintain brokerage accounts for financial futures and options (such accounts hereinafter referred to as "Brokerage Accounts") on behalf of and in the name of the Growth Value Fund; and (ii) execute for and on behalf of the Brokerage Accounts, standard customer agreements with any broker or dealer. The Sub-Adviser may, using such of the securities and other property in the Brokerage Accounts as the Sub-Adviser deems necessary or desirable, direct the custodian to deposit on behalf of the Growth Value Fund, original and maintenance brokerage deposits and otherwise direct payments of cash, cash equivalents and securities and other property into such Brokerage Accounts and to such brokers as the Sub-Adviser deems desirable or appropriate. The Trust represents and warrants that it is a "qualified eligible client" within the meaning of CFTC Regulations Section 4.7 and, as such, consents to treat the Growth Value Fund in accordance with the exemption contained in CFTC Regulations Section 4.7(b).

Futures and Options. The Sub-Adviser's investment authority shall include advice with regard to purchasing, selling, or covering open positions, and generally dealing in financial futures contracts and options thereon, in accordance with the rules and regulations of the Commodity Futures Trading Commission ("CFTC") applicable to registered investment companies and their investment advisers. The Sub-Adviser's authority shall include authority to: (i) open and maintain brokerage accounts for financial futures and options (such accounts hereinafter referred to as "Brokerage Accounts") on behalf of and in the name of the Growth each Fund; and (ii) execute for and on behalf of the Brokerage Accounts, standard customer agreements with any broker or dealer. The Sub-Adviser may, using such of the securities and other property in the Brokerage Accounts as the Sub-Adviser deems necessary or desirable, direct the custodian to deposit on behalf of the Growth each Fund, original and maintenance brokerage deposits and otherwise direct payments of cash, cash equivalents and securities and other property into such Brokerage Accounts and to such brokers as the Sub-Adviser deems desirable or appropriate. The Trust represents and warrants that it is a "qualified eligible client" within the meaning of CFTC Regulations Section 4.7 and, as such, consents to treat the Growth each Fund in accordance with the exemption contained in CFTC Regulations Section 4.7(b).

Futures and Options. The Sub-Adviser's investment authority shall include advice with regard to purchasing, selling, or covering open positions, and generally dealing in financial futures contracts and options thereon, in accordance with the rules and regulations of the Commodity Futures Trading Commission ("CFTC") applicable to registered investment companies and their investment advisers. The Sub-Adviser's authority shall include authority to: : (i) open and maintain brokerage accounts for financial futures and options (such accounts hereinafter referred to as "Brokerage Accounts") on behalf of and in the name of the Growth each Fund; and and (ii) execute for and on behalf of the Brokerage Accounts, standard customer agreements with any broker or dealer. The Sub-Adviser may, using such of the securities and other property in the Brokerage Accounts as the Sub-Adviser deems necessary or desirable, direct the custodian to deposit on behalf of the Growth each Fund, original and maintenance brokerage deposits and otherwise direct payments of cash, cash equivalents and securities and other property into such Brokerage Accounts and to such brokers as the Sub-Adviser deems desirable or appropriate. The Trust represents and warrants that it is a "qualified eligible client" within the meaning of CFTC Regulations Section 4.7 and, as such, consents to treat the Growth each Fund in accordance with the exemption contained in CFTC Regulations Section 4.7(b).

Futures and Options. The Sub-Adviser's investment authority shall include advice with regard to purchasing, selling, or covering open positions, and generally dealing in financial futures contracts and options thereon, in accordance with the rules and regulations of the Commodity Futures Trading Commission ("CFTC") applicable to registered investment companies and their investment advisers. The Sub-Adviser's authority shall include authority to: (i) open and maintain brokerage accounts for financial futures and options (such accounts hereinafter referred to as "Brokerage Accounts") on behalf of and in the name of the Growth each Fund; andand 4 (ii) execute for and on behalf of the Brokerage Accounts, standard customer agreements with any broker or dealer. The Sub-Adviser may, using such of the securities and other property in the Brokerage Accounts as the Sub-Adviser deems necessary or desirable, direct the custodian to deposit on behalf of the Growth each Fund, original and maintenance brokerage deposits and otherwise direct payments of cash, cash equivalents and securities and other property into such Brokerage Accounts and to such brokers as the Sub-Adviser deems desirable or appropriate. The Trust represents and warrants that it is a "qualified eligible client" within the meaning of CFTC Regulations Section 4.7 and, as such, consents to treat the Growth each Fund in accordance with the exemption contained in CFTC Regulations Section 4.7(b).

Futures and Options. The Sub-Adviser's ’s investment authority shall include advice with regard to purchasing, selling, or covering open positions, and generally dealing in financial futures contracts and options thereon, in accordance with the rules and regulations of the Commodity Futures Trading Commission ("“CFTC"”) applicable to registered investment companies and their investment advisers. The Sub-Adviser's ’s authority shall include authority to: (i) open and maintain brokerage accounts for financial futures and options (such accounts hereinafter referred to as "“Brokerage Accounts"”) on behalf of and in the name of the Growth each Fund; and (ii) execute for and on behalf of the Brokerage Accounts, standard customer agreements with any broker or dealer. The Sub-Adviser may, using such of the securities and other property in the Brokerage Accounts as the Sub-Adviser deems necessary or desirable, direct the custodian to deposit on behalf of the Growth each Fund, original and maintenance brokerage deposits and otherwise direct payments of cash, cash equivalents and securities and other property into such Brokerage Accounts and to such brokers as the Sub-Adviser deems desirable or appropriate. The Trust represents and warrants that it is a "“qualified eligible client" ” within the meaning of CFTC Regulations Section 4.7 and, as such, consents to treat the Growth each Fund in accordance with the exemption contained in CFTC Regulations Section 4.7(b).