Common use of STATUS OF THE ADVISER Clause in Contracts

STATUS OF THE ADVISER. The services of the Adviser to the Trust and the Fund are not to be deemed exclusive, and the Adviser shall be free to render similar services to others or to engage in any other lawful activity so long as its Services to the Trust and the Fund are not impaired thereby. The Adviser shall be deemed an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Trust or the Fund in any way or otherwise be deemed an agent of the Trust or the Fund. Nothing in this Agreement shall limit or restrict the right of any director, officer, or employee of the Adviser, who is also a trustee, officer, or employee of the Trust, to buy, sell, or trade any securities for his or her or own account, subject to the codes of ethics of the Adviser and the Trust, as applicable, or to engage in any other business or to devote his or her time and attention in part to the management or other aspects of any other business, whether of a similar nature or a dissimilar nature.