Common use of Paragraph Five Clause in Contracts

Paragraph Five. The Adviser agrees that the Sub-Adviser shall not be expected to recommend the purchase or sale of any security or other investment instrument (such as a credit default swap) to the extent applicable on behalf of any Fund on the basis of any information which might cause such purchase or sale to, in the Sub-Adviser’s opinion, constitute a violation of any federal or state laws, rules or regulations. The Sub-Adviser shall use its best judgment in carrying out its duties hereunder, but does not guarantee investment results. No past performance of the Sub-Adviser or its affiliates should be relied upon or considered a reliable indicator of present or future performance.