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• 3.05 Successors. In the event that, at any time, the position of Adviser, Administrator, <br /> or Custodian shall become vacant for any reason, the Trustees may appoint, employ or contract <br /> with a successor Adviser, Administrator, or Custodian. A predecessor shall assist and cooperate <br /> with the 4M Fund in the smooth and orderly transition in the event a successor Adviser, <br /> Administrator, or Custodian is appointed for any reason. <br /> ARTICLE IV <br /> Investments <br /> 4.01 Statement of Investment Policy and Objective. Subject to the prohibitions and <br /> restrictions contained in Section 4.02 hereof, the general investment policy and objective of the <br /> Trustees shall be to provide to the Participants of the 4M Fund the highest possible investment <br /> yield, while maintaining liquidity and preserving capital by investing in Permitted Investments <br /> in accordance with applicable provisions of Law, as may be set forth more fully in the 4M <br /> Fund's Information Statement or Statements, as the same may be amended from time to time. <br /> 4.02 Restrictions Fundamental to the 4M Fund. Notwithstanding anything in this <br /> Declaration of Trust which may be deemed to authorize the contrary, the 4M Fund: <br /> (i) May not make any investment other than investment authorized by the <br /> provisions of Law applicable to the investment of funds by the Participants, as the same may be <br /> • amended from time to time; <br /> (ii) Except as provided herein. may not purchase any Permitted Investment which <br /> has a maturity date more than ene--year93 7 days from the date of the 4M Fund's purchase <br /> thereof, unless subject, at the time of such purchase by the 4M Fund to an irrevocable agreement <br /> on the part of a Responsible Person to purchase such Permitted Investment from the 4M Fund <br /> within erre-yeas 397 days. The 4M Fund may invest in floating rate government and agency <br /> securities with maturities of three years or less if there is a coupon reset period within 397 days <br /> of the date of the 4M Funds purchase thereof. <br /> (iii) May not purchase any Permitted Investment if the effect of such purchase by <br /> the 4M Fund would be to make the average dollar weighted maturity of 4N1 Fund's inyestifleft <br /> peFtfelie any portfolio greater than that which has been designated by the <br /> Trustees as the intended average dollar weighted maturity of the portfolio to which the purchase <br /> of such permitted investment relates, provided, however, that in making such determination any <br /> Permitted Investment which is subject to an irrevocable agreement of the nature referred to in <br /> the preceding clause (ii) shall be deemed to mature on the day on which the 4M Fund is <br /> obligated to sell such Permitted Investment back to a Responsible Person or the day on which <br /> the 4M Fund may exercise its rights under such agreement to require the purchase of such <br /> Permitted Investment by a Responsible Person; <br /> • 15 <br />