Common use of USE OF SUB-ADVISERS Clause in Contracts

USE OF SUB-ADVISERS. In providing the services and assuming the obligations set forth herein, in connection with the investment portfolios of the Fund, the Adviser may at its expense employ one or more sub-advisers, and may enter into such service agreements as the Adviser deems appropriate in connection with the performance of its duties and obligations hereunder, including without limitation, from time to time delegating any or all of its portfolio management responsibilities hereunder. Reference herein to the duties and responsibilities of the Adviser shall include any sub-adviser employed by the Adviser to the extent that the Adviser shall delegate such duties and responsibilities to any such sub-adviser. Any agreement between the Adviser and a sub-adviser shall be subject to the approval of the Trust, its Board of Trustees, and the owners of interests issued by any portfolio affected thereby, as required by the 1940 Act, and any such sub-adviser shall at all times be subject to the direction of the Board of Trustees of the Trust or any officer of the Trust acting pursuant to the authority of the Board of Trustees. The Adviser shall perform ongoing due diligence oversight of any such sub-adviser in order to assure continuing quality of performance by said sub-adviser.

USE OF SUB-ADVISERS. In providing the services and assuming the obligations set forth herein, in connection with the any investment portfolios portfolio of the Fund, the Adviser may at its expense employ one or more subSub-advisersAdvisers, and or may enter into such service agreements as the Adviser deems appropriate in connection with the performance of its duties and obligations hereunder, including without limitation, from time to time delegating any or all of its portfolio management responsibilities hereunder. Reference herein to the duties and responsibilities of the Adviser shall include any subSub-adviser Adviser employed by the Adviser to the extent that the Adviser shall delegate such duties and responsibilities to any such subSub-adviserAdviser. Any agreement between the Adviser and a subSub-adviser Adviser shall be subject to the approval of the TrustFund, its Board of TrusteesDirectors, and the owners shareholders of interests issued by any portfolio affected thereby, as required by the Investment Company Act of 1940, as amended (the “1940 Act”), and any such subSub-adviser Adviser shall at all times be subject to the direction of the Board of Trustees Directors of the Trust Fund or any officer of the Trust Fund acting pursuant to the authority of Board’s authority. Furthermore, the Board of Trustees. The Adviser shall perform ongoing due diligence oversight of any such subSub-adviser Adviser in order to assure continuing quality of performance by said Sub-Adviser. The Adviser also agrees to assist in the collection of materials from any such Sub-Adviser that the Board reasonably requests for purposes of reviewing or approving a sub-adviseradvisory agreement under Section 15(c) of the 1940 Act.