Common use of REPRESENTATION OF OTHER CLIENTS Clause in Contracts

REPRESENTATION OF OTHER CLIENTS. The services provided by the Subadviser under this Agreement are not to be deemed exclusive and the Subadviser shall be free to render similar services to others so long as its services hereunder are not impaired thereby. It is specifically understood that directors, officers and employees of the Subadviser and of any subsidiaries and affiliates may continue to engage in providing portfolio management services and advice to other investment advisory clients. In addition, the Adviser understands that the Subadviser may give advice and take action with respect to other clients in a manner that may differ from the timing or nature of action taken by the Subadviser with respect to a Portfolio. Nothing in this Agreement imposes upon the Subadviser any obligation to purchase or sell or to recommend for purchase or sale, with respect to a Portfolio, any security or other instrument which the Subadviser may purchase for any other client. For purposes of clarification, nothing in this Section 10 shall, in any way, alter or reduce the Subadviser’s fiduciary duties and obligations to the Portfolios or its covenants and obligations under any Agreement for Organizational and Promotional Costs or similar agreement, between the Adviser and the Subadviser, then in effect.