Common use of Daily Accounting Services Clause in Contracts

Daily Accounting Services. BNY shall perform the following services on each Business Day: 1. Calculate Net Asset Value (NAV), and Public Offering Price (POP) ---------------------------------------------------------------- Per Share Pursuant to SEC formulas: ----------------------------------- o Update the valuation of security positions held by each Fund's portfolio in accordance with the Fund's Pricing Procedures and any other appropriate procedures established by the Board and NBAI as NBAI shall provide BNY in writing o When instructed by NBAI, enter manual prices supplied by broker and link to pricing procedures o Calculate each Fund's NAV/POP in accordance with the applicable Pricing Procedures approved by Reserves' Board of Trustees and prepare NAV proof sheet. Review components of change in NAV for reasonableness based on the tolerance levels as NBAI shall direct BNY in writing o Review variance reporting for price changes in individual securities using variance levels established by Fund and report to Fund portfolio managers and to NBAI o Review for ex-dividend items indicated by pricing sources; trace to general ledger for agreement o Communicate required pricing and yield information (NAV/POP), as appropriate, to NBAI, the Funds' Transfer Agent and Sub-Transfer Agent and, electronically, to NASDAQ and to such other third parties as designated by the Funds with respect to its various distribution channels. In addition, provide Fund share activity to NBAI. 2. Dividend Rates/Yields/Dollar Weighted Average Maturity: ------------------------------------------------------ o Calculate, subject to the approval of NBAI, net investment income available for distribution daily as appropriate o Calculate daily dividend rate, and 1, 7, 30-day yields/SEC yields o Calculate dollar weighted average maturity

Daily Accounting Services. BNY shall perform the following services on each Business Day: 1. Calculate Net Asset Value (NAV), and Public Offering Price (POP) ---------------------------------------------------------------- Per Share Pursuant to SEC formulas: ----------------------------------- ----------------------------------------------------------------------- o Update the valuation of security positions held by each Fund's portfolio in accordance with the Fund's Pricing Procedures and any other appropriate procedures established by the Board and NBAI as NBAI shall provide BNY in writing o When instructed by NBAI, enter manual prices supplied by broker and link to pricing procedures o Calculate each Fund's NAV/POP in accordance with the applicable Pricing Procedures approved by Reserves' the Company's Board of Trustees Directors and prepare NAV proof sheet. Review components of change in NAV for reasonableness based on the tolerance levels as NBAI shall direct BNY in writing o Review variance reporting for price changes in individual securities using variance levels established by Fund and report to Fund portfolio managers and to NBAI o Review for ex-dividend items indicated by pricing sources; trace to general ledger for agreement o Communicate required pricing and yield information (NAV/POP), as appropriate, to NBAI, the Funds' Transfer Agent and Sub-Transfer Agent and, electronically, to NASDAQ and to such other third parties as designated by the Funds with respect to its various distribution channels. In addition, provide Fund share activity to NBAI. 2. Dividend Rates/Yields/Dollar Weighted Average Maturity: ------------------------------------------------------ ------------------------------------------------------- o Calculate, subject to the approval of NBAI, net investment income available for distribution daily as appropriate o Calculate daily dividend rate, and 1, 7, 30-day yields/SEC yields o Calculate dollar weighted average maturity

Daily Accounting Services. BNY shall perform the following services on each Business Day: 1. Calculate Net Asset Value (NAV), and Public Offering Price (POP) ---------------------------------------------------------------- Per -------------------------------------------------------------------- Share Pursuant to SEC formulas: ----------------------------------- ------------------------------ o Update the valuation of security positions held by each Fund's portfolio in accordance with the Fund's Pricing Procedures and any other appropriate procedures established by the Board and NBAI BAAI as NBAI BAAI shall provide BNY in writing o When instructed by NBAIBAAI, enter manual prices supplied by broker and link to pricing procedures o Calculate each Fund's NAV/POP in accordance with the applicable Pricing Procedures approved by Reserves' the Trust's Board of Trustees and prepare NAV proof sheet. Review components of change in NAV for reasonableness based on the tolerance levels as NBAI BAAI shall direct BNY in writing o Review variance reporting for price changes in individual securities using variance levels established by Fund and report to Fund portfolio managers and to NBAI BAAI o Review for ex-dividend items indicated by pricing sources; trace to general ledger for agreement o Communicate required pricing and yield information (NAV/POP), as appropriate, to NBAIBAAI, the Funds' Transfer Agent transfer agent and Subsub-Transfer Agent transfer agent and, electronically, to NASDAQ and to such other third parties as designated by the Funds with respect to its various distribution channels. In addition, provide Fund share activity to NBAIBAAI. 2. Dividend Rates/Yields/Dollar Weighted Average Maturity: ------------------------------------------------------ o Calculate, subject to the approval of NBAIBAAI, net investment income available for distribution daily as appropriate o Calculate daily dividend rate, and 1, 7, 30-day yields/SEC yields o Calculate dollar weighted average maturity

Daily Accounting Services. BNY shall perform the following services on each Business Day: 1. Calculate Net Asset Value (NAV), and Public Offering Price (POP) ---------------------------------------------------------------- Per Share -------------------------------------------------------------------------- Pursuant to SEC formulas: ----------------------------------- ------------------------ o Update the valuation of security positions held by each Fund's portfolio in accordance with the Fund's Pricing Procedures and any other appropriate procedures established by the Board and NBAI BAAI as NBAI BAAI shall provide BNY in writing o When instructed by NBAIBAAI, enter manual prices supplied by broker and link to pricing procedures o Calculate each Fund's NAV/POP in accordance with the applicable Pricing Procedures approved by Reserves' the Trust's Board of Trustees and prepare NAV proof sheet. Review components of change in NAV for reasonableness based on the tolerance levels as NBAI BAAI shall direct BNY in writing o Review variance reporting for price changes in individual securities using variance levels established by Fund and report to Fund portfolio managers and to NBAI BAAI o Review for ex-dividend items indicated by pricing sources; trace to general ledger for agreement o Communicate required pricing and yield information (NAV/POP), as appropriate, to NBAIBAAI, the Funds' Transfer Agent transfer agent and Subsub-Transfer Agent transfer agent and, electronically, to NASDAQ and to such other third parties as designated by the Funds with respect to its various distribution channels. In addition, provide Fund share activity to NBAIBAAI. 2. Dividend Rates/Yields/Dollar Weighted Average Maturity: ------------------------------------------------------ ------------------------------------------------------- o Calculate, subject to the approval of NBAIBAAI, net investment income available for distribution daily as appropriate o Calculate daily dividend rate, and 1, 7, 30-day yields/SEC yields o Calculate dollar weighted average maturity

Daily Accounting Services. BNY shall perform the following services on each Business Day: 1. Calculate Net Asset Value (NAV), and Public Offering Price (POP) ---------------------------------------------------------------- Per Share Pursuant to SEC formulas: ----------------------------------- o Update the valuation of security positions held by each Fund's portfolio in accordance with the Fund's Pricing Procedures and any other appropriate procedures established by the Board and NBAI as NBAI shall provide BNY in writing o When instructed by NBAI, enter manual prices supplied by broker and link to pricing procedures o Calculate each Fund's NAV/POP in accordance with the applicable Pricing Procedures approved by Reserves' the Annuity Trust's Board of Trustees and prepare NAV proof sheet. Review components of change in NAV for reasonableness based on the tolerance levels as NBAI shall direct BNY in writing o Review variance reporting for price changes in individual securities using variance levels established by Fund and report to Fund portfolio managers and to NBAI o Review for ex-dividend items indicated by pricing sources; trace to general ledger for agreement o Communicate required pricing and yield information (NAV/POP), as appropriate, to NBAI, the Funds' Transfer Agent and Sub-Transfer Agent and, electronically, to NASDAQ and to such other third parties as designated by the Funds with respect to its various distribution channels. In addition, provide Fund share activity to NBAI. 2. Dividend Rates/Yields/Dollar Weighted Average Maturity: ------------------------------------------------------ ------------------------------------------------------- o Calculate, subject to the approval of NBAI, net investment income available for distribution daily as appropriate o Calculate daily dividend rate, and 1, 7, 30-day yields/SEC yields o Calculate dollar weighted average maturity

Daily Accounting Services. BNY shall perform the following services on each Business Day: 1. Calculate Net Asset Value (NAV), and Public Offering Price (POP) ---------------------------------------------------------------- Per -------------------------------------------------------------------- Share Pursuant to SEC formulas: ----------------------------------- ------------------------------- o Update the valuation of security positions held by each Fund's portfolio in accordance with the Fund's Pricing Procedures and any other appropriate procedures established by the Board and NBAI as NBAI shall provide BNY in writing o When instructed by NBAI, enter manual prices supplied by broker and link to pricing procedures o Calculate each Fund's NAV/POP in accordance with the applicable Pricing Procedures approved by Reserves' the Company's Board of Trustees Directors and prepare NAV proof sheet. Review components of change in NAV for reasonableness based on the tolerance levels as NBAI shall direct BNY in writing o Review variance reporting for price changes in individual securities using variance levels established by Fund and report to Fund portfolio managers and to NBAI o Review for ex-dividend items indicated by pricing sources; trace to general ledger for agreement o Communicate required pricing and yield information (NAV/POP), as appropriate, to NBAI, the Funds' Transfer Agent and Sub-Transfer Agent and, electronically, to NASDAQ and to such other third parties as designated by the Funds with respect to its various distribution channels. In addition, provide Fund share activity to NBAI. 2. Dividend Rates/Yields/Dollar Weighted Average Maturity: ------------------------------------------------------ ------------------------------------------------------- o Calculate, subject to the approval of NBAI, net investment income available for distribution daily as appropriate o Calculate daily dividend rate, and 1, 7, 30-day yields/SEC yields o Calculate dollar weighted average maturity