Common use of SERVICES NOT EXCLUSIVE/USE OF NAME Clause in Contracts

SERVICES NOT EXCLUSIVE/USE OF NAME. Your services to the Fund pursuant to this Agreement are not to be deemed to be exclusive, and it is understood that you may render investment advice, management and other services to others, including other registered investment companies, provided, however, that such other services and activities do not, during the term of this Agreement, interfere in a material manner, with your ability to meet all of your obligations with respect to rendering services to the Fund. The Trust and you acknowledge that all rights to the name "BlueArc Multi-Strategy Fund" or any variation thereof belong to BlueArc Capital Management, LLC, and that the Trust is being granted a limited non-exclusive license to use such words in its Fund name or in any class name. In the event BlueArc Capital Management, LLC ceases to be a co-adviser to the Fund, the Trust's right to the use of the name "BlueArc Multi-Strategy Fund" shall automatically cease on the ninetieth day following the termination of this Agreement. The right to the name may also be withdrawn by you during the term of this Agreement upon ninety (90) days written notice by BlueArc Capital Management, LLC to the Trust. Nothing contained herein shall impair or diminish in any respect, BlueArc Capital Management, LLC’s right to use the name "BlueArc Multi-Strategy Fund" in the name of, or in connection with, any other business enterprises with which you are or may become associated. There is no charge to the Trust for the right to use this name.

SERVICES NOT EXCLUSIVE/USE OF NAME. Your services to the each Fund pursuant to this Agreement are not to be deemed to be exclusive, and it is understood that you may render investment advice, management and other services to others, including other registered investment companies, provided, however, that such other services and activities do not, during the term of this Agreement, interfere in a material manner, with your ability to meet all of your obligations with respect to rendering services to the each Fund. The Trust and you acknowledge that all rights to the name "BlueArc Multi-Strategy SGM Funds", "SGM Global Hard Asset Fund" or any variation thereof belong to BlueArc Capital Management, LLCyou or your parent entity, and that the Trust is being granted a limited non-exclusive license to use such words in its Fund name or in any class name. In the event BlueArc Capital Management, LLC ceases you cease to be a co-the adviser to the a Fund, the Trust's ’s right to the use of the name names "BlueArc Multi-Strategy SGM Funds", "SGM Global Hard Asset Fund" or any variation thereof belong to you shall automatically cease on the ninetieth day following the termination of this Agreement. The right to the name may also be withdrawn by you during the term of this Agreement upon ninety (90) days written notice by BlueArc Capital Management, LLC you to the Trust. Nothing contained herein shall impair or diminish in any respect, BlueArc Capital Management, LLC’s your right to use the name "BlueArc Multi-Strategy SGM Funds", "SGM Global Hard Asset Fund" or any variation thereof belong to you in the name of, or in connection with, any other business enterprises with which you are or may become associated. There is no charge to the Trust for the right to use this name.