Common use of Additional Delegated Duties Clause in Contracts

Additional Delegated Duties. (1) Consistent with the services provided by Transfer Agent and with respect to the ownership of shares in a Fund for which Transfer Agent maintains the applicable shareholder information, Transfer Agent shall, on behalf of each Fund and LMIS: (i) Compare Transfer Agent’s database of Fund investor names and personal information against the OFAC SDN list and the Sanctions Programs and consult with the Fund regarding appropriate action with respect to any possible or verified matches; new accounts and account changes shall be screened daily against such lists by a Transfer Agent compliance specialist and the entire database shall be screened each time the OFAC list is updated or when the Fund submits a FinCEN Section 314(a) Information Request to the Transfer Agent; (ii) Compare alternate payee standing instructions against the OFAC SDN list and the Sanctions Programs and consult with the Fund and LMIS regarding appropriate action with respect to any possible or verified matches; (iii) Review redemption transactions that occur within thirty (30) days of account establishment or maintenance; (iv) Review wires sent pursuant to banking instructions other than those on file with Transfer Agent against the OFAC SDN list and the Sanctions Programs; (v) Review accounts with small balances followed by large purchases; (vi) Review accounts with frequent activity within a specified date range followed by a large redemption; (vii) On a daily basis, review purchase and redemption activity per tax identification number (“TIN”) within the Funds to determine if activity for that TIN exceeded the $100,000 threshold on any given day; (viii) Monitor and track each incoming or outgoing payment or transfer of more than $10,000 in currency (as defined by the applicable regulations) by, through, or to the Fund or LMIS and monitor payments or transfers in currency under $10,000 for a rolling twelve-month period to determine whether an aggregate amount received in two or more related transactions has exceeded $10,000; file a Currency Transaction Report through FinCEN’s BSA E-Filing System in accordance with the applicable regulations. (ix) Determine, in coordination with the Fund’s Chief AML Compliance Officer or his or her delegate (“AML Officer”) and, where appropriate, LMIS’ chief AML compliance officer, whether a SAR should be filed pursuant to regulations applicable to mutual funds; prepare and file a joint SAR through FinCEN’s BSA E-Filing System in accordance with the applicable regulations; maintain documents supporting the SAR; provide the Fund with a copy of the final SAR with the filing confirmation attached within a reasonable time after filing; maintain the confidentiality of each SAR and its supporting information and share such SAR and information only to the extent permitted by applicable law; notify the Fund and, where appropriate, LMIS if any further communication is received from FinCEN or other authorized law enforcement agencies regarding the SAR; and reasonably cooperate and assist the Fund and LMIS in responding to inquiries from FinCEN or authorized law enforcement agencies regarding a SAR. If, after coordination efforts among the Fund, LMIS and the Transfer Agent there is disagreement regarding filing a joint SAR, either party may file a SAR independently of the other party. (x) Undertake reviews of the Fund’s records of accounts and transactions maintained by Transfer Agent on behalf of the Fund to respond to Section 314(a) Information Requests received by the Fund or LMIS and transmitted to Transfer Agent; provide the Fund or LMIS with documents/information necessary to respond to such requests within the time frame required by applicable law; and (xi) In accordance with applicable law and the procedures agreed upon by the parties (which may be amended from time to time by mutual agreement of the parties) (i) verify the identity of any person seeking to open an account with the Fund, (ii) maintain records of the information used to verify the person’s identity and (iii) determine whether the person appears on any list of known or suspected terrorists or terrorist organizations issued by any federal government agency and designated as such by the Department of the Treasury in consultation with the federal functional regulators. (2) In the event that Transfer Agent detects activity as a result of the foregoing procedures which necessitates the filing by Transfer Agent of a Currency Transaction Report or other similar report or notice to OFAC, Transfer Agent shall promptly notify the Fund and consult with the Fund’s AML Officer and LMIS’ chief AML compliance officer regarding the appropriate steps. Transfer Agent shall notify the Fund and, where appropriate, LMIS’ AML Officer no later than 25 days after Transfer Agent determines activity may necessitate the filing of a SAR.

Additional Delegated Duties. (1) Consistent with the services provided by Transfer Agent and with respect to the ownership of shares in a Fund for which Transfer Agent maintains the applicable shareholder information, Transfer Agent shall, on behalf of each Fund and LMIS: (i) Compare Transfer Agent’s database of Fund investor names and personal information against the OFAC SDN list and the Sanctions Programs list of embargoed countries and consult with the Fund regarding appropriate action with respect to any possible or verified matches; new accounts and account changes shall be screened daily against such lists by a Transfer Agent compliance specialist and the entire database shall be screened each time the OFAC list is updated or when the Fund submits a FinCEN Section 314(a) Information Request to the Transfer Agent; (ii) Compare alternate payee standing instructions against the OFAC SDN list and the Sanctions Programs list of embargoed countries and consult with the Fund and LMIS regarding appropriate action with respect to any possible or verified matches; (iii) Review redemption transactions that occur within thirty (30) days of account establishment or maintenance; (iv) Review wires sent pursuant to banking instructions other than those on file with Transfer Agent against the OFAC SDN list and the Sanctions Programslist; (v) Review accounts with small balances followed by large purchases; (vi) Review accounts with frequent activity within a specified date range followed by a large redemption; (vii) On a daily basis, review purchase and redemption activity per tax identification number (“TIN”) within the Funds to determine if activity for that TIN exceeded the $100,000 threshold on any given day; (viii) Monitor and track each incoming or outgoing payment or transfer of more than $10,000 in currency cash equivalents (as defined by the applicable regulations) by, through, or to the Fund or LMIS and monitor payments or transfers in currency under $10,000 received by the Fund for a rolling twelve-month period to determine whether an aggregate amount received in two or more related transactions has exceeded $10,000; file IRS/FinCEN Form 8300 (Report of Cash Payments Over $10,000 Received in a Currency Transaction Report through FinCEN’s BSA E-Filing System in accordance with Trade or Business), as necessary; prepare and issue annual notices for the corresponding Shareholder accounts as required by applicable regulationsIRS/FinCEN rules; and provide copies of Forms 8300 and related Shareholder notices to the Fund. (ix) Determine, in coordination with the Fund’s Chief AML Compliance Officer or his or her delegate (“AML Officer”) and, where appropriate, LMIS’ chief AML compliance officer, whether a SAR should be filed pursuant to regulations applicable to mutual funds; prepare and file a joint the appropriate SAR through Form with FinCEN’s BSA E-Filing System in accordance with the applicable regulations; , and maintain documents supporting the SAR; provide the Fund with a copy of the final SAR with the filing confirmation attached within a reasonable time after filing; maintain the confidentiality of each SAR and its supporting information and share such SAR and information only to the extent permitted by applicable law; notify the Fund and, where appropriate, LMIS if any further communication is received from FinCEN U.S. Department of the Treasury or other authorized law enforcement agencies regarding the SAR; and reasonably cooperate and assist the Fund and LMIS in responding to inquiries from FinCEN or authorized law enforcement agencies regarding a SAR. If, after coordination efforts among the Fund, LMIS and the Transfer Agent there is disagreement regarding filing a joint SAR, either party may file a SAR independently of the other party. (x) Undertake reviews of the Fund’s records of accounts and transactions maintained by Transfer Agent on behalf of the Fund to respond to Section 314(a) Information Requests received by the Fund or LMIS and transmitted to Transfer Agent; provide the Fund or LMIS with documents/information necessary to respond to such requests within the time frame required by applicable law; and (xi) In accordance with applicable law and the procedures agreed upon by the parties (which may be amended from time to time by mutual agreement of the parties) (i) verify the identity of any person seeking to open an account with the Fund, (ii) maintain records of the information used to verify the person’s identity and (iii) determine whether the person appears on any list of known or suspected terrorists or terrorist organizations issued by any federal government agency and designated as such by the Department of the Treasury in consultation with the federal functional regulators. (2) In the event that Transfer Agent detects activity as a result of the foregoing procedures which necessitates the filing by Transfer Agent of a Currency Transaction Report SAR, a Form 8300, or other similar report or notice to OFAC, Transfer Agent shall promptly notify the Fund and consult with the Fund’s AML Officer and LMIS’ chief AML compliance officer regarding the appropriate steps. Transfer Agent shall notify the Fund and, where appropriate, LMIS’ AML Officer no later than 25 days after Transfer Agent determines activity may necessitate the filing of a SAR.