Common use of Powers and Duties of Manager Clause in Contracts

Powers and Duties of Manager. ‌ (a) The Trustee hereby delegates to the Manager the exclusive power and sole responsibility to manage the business and affairs of a Fund. The Manager shall have the powers and duties expressly provided for herein, including the power to further delegate the administration of a Fund, where in the discretion of the Manager, it would be in the best interest of a Fund to do so. (b) For greater certainty, it is hereby confirmed that the Trustee shall have no responsibility for investment management of the securities or other Fund Property of a Fund or for any investment decisions or for compliance with any investment policy or principle regardless of whether such policy or principle is set out in a supplemental agreement.