Common use of Managed Assets Clause in Contracts

Managed Assets. The Manager will provide investment management services with respect to assets placed with the Manager on behalf of the Fund from time to time. Such assets, as changed by investment, reinvestment, additions, disbursements of fees and expenses, and withdrawals, are referred to in this Agreement as the “Managed Assets.” The Fund may, with the consent of the Manager, make additions to the Managed Assets at any time, which additions will under normal circumstances be made as of the first Business Day of the month. The Fund may withdraw all or any portion of the Managed Assets as of the first Business Day of the month following sixty (60) days’ notice to the Manager. For purposes of this Section 1, a "Business Day" shall be any day on which banks are open for normal banking business in New York and London and disbursements of fees and expenses shall not be considered to be withdrawals.