Common use of Fund Evaluation Clause in Contracts

Fund Evaluation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of a share of capital stock of the Fund, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund and Prospectus and Statement of Additional Information relating to the Fund, and valuation procedures approved by the Board, and any applicable resolutions of the Board at the time in force and applicable, as they may from time to time be amended. Current copies of each such document are to be made available by the Fund to the Bank on a timely basis. The Bank shall promptly notify the Fund, the proper exchange and the NASD or such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of the Fund and in respect of liabilities of the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii) above. (a) The Bank shall compute the Yield Calculation for the Fund for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the Fund. (b) In performing the Yield Calculation, the Bank will derive from the records it generates and maintains for the Fund pursuant Section 11 hereof, the items of data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the Fund, any of the Fund's designated agents or any of the Fund's designated third party providers. (c) At the request of the Bank, the Fund shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to the Fund. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to the Fund of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, the Fund or its designated agent shall have the full responsibility for making the determination of how the security, or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (d) The Fund shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Fund Evaluation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, Board the net asset value and the public offering price of a share of capital stock of the FundTrust, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund Trust and Prospectus and Statement of Additional Information relating to the FundTrust, and valuation procedures approved by the Boardas they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable, as they may from time to time be amended. Current copies of each such document are to be made available by the Fund to the Bank on a timely basis. The Bank shall ; and promptly notify the FundTrust, the proper exchange and the NASD or such other persons as the Fund Trust may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of the Fund Trust and in respect of liabilities of the Fund Trust not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the sharesvalue, and the Bank shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii) above. (a) The Bank shall compute the Yield Calculation for the Fund for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the Fund. (b) . In performing the Yield Calculationaddition, the Bank will derive from shall determine daily the records it generates net asset value of each investor's interest in the Trust and maintains shall allocate daily on a book basis and annually or as mutually agreed on a tax basis among the investors in the Trust on a pro rata basis all incremental investment activity. All services and activities provided for the Fund pursuant in this Section 11 hereof, the items of data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the Fund, any of the Fund's designated agents or any of the Fund's designated third party providers. (c) At the request of the Bank, the Fund shall provide, and the Bank 12 shall be entitled to rely on, written standards undertaken from and guidelines to be followed by occur at a location outside the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to the Fund. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to the Fund of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etcUnited States.) or otherwise or as to any other element of the computation which is pertinent to the Fund, the Fund or its designated agent shall have the full responsibility for making the determination of how the security, or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (d) The Fund shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Fund Evaluation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading business on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, Board the net asset value and the public offering price of a share of capital stock of the Fund, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund and Prospectus and Statement of Additional Information relating to the Fund, and valuation procedures approved by the Boardas they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable, as they may from time and promptly to time be amended. Current copies of each such document are to be made available by the Fund to the Bank on a timely basis. The Bank shall promptly notify the Fund, the proper exchange and the NASD or such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of expenses the Fund and in respect of liabilities of the Fund not appearing on its books of account kept by the BankFund, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations value to be used in computing the net asset valueassigned to any security for which no price quotations are readily available and said valuation is therefore supplied by any Authorized Person, (iv) the value to be assigned to any security for which no conflicting price quotations are availableavailable or the Bank otherwise needs further direction from an Authorized Person, and said valuation is therefore supplied by any Authorized Person, and (v) the method use of computation trade information supplied by any Authorized Person until such time as the incorrectness of such trade information should reasonably have been discovered through the public offering price on the basis of the net asset value of the sharessettlement process, and the Bank shall not be responsible for any loss occasioned by such reliance reliance. The Bank shall be authorized to obtain quotations for use in computing the net asset value from one or more pricing services which it believes to be reliable but, except as expressly set forth in the preceding sentence, the Bank shall be responsible for any the accuracy of all net asset value computations made hereunder, notwithstanding the Bank's good faith reliance on any quotations received from a source pursuant to (iii) above. (a) The Bank shall compute the Yield Calculation for the Fund for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the Fund. (b) In performing the Yield Calculation, the Bank will derive from the records it generates and maintains for the Fund pursuant Section 11 hereof, the items of data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the Fund, any of the Fund's designated agents or any of the Fund's designated third party providers. (c) At the request of the Bank, the Fund shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to the Fund. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to the Fund of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, the Fund pricing service or its designated agent shall have the full responsibility for making the determination of how the security, or payment is to be treated for purposes of the computation compliance with its own reasonable monitoring and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correcttesting controls. (d) The Fund shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Fund Evaluation. The Bank shall compute and, unless otherwise --------------- directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of a share of capital stock of the Fund, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund and the Prospectus and Statement of Additional Information relating to the Fund, and valuation procedures approved by the Boardas they may from time to time be amended, and any applicable resolutions of the Board or procedures adopted by the Board at the time in force and applicable, as they may from time ; and promptly to time be amended. Current copies of each such document are to be made available by the Fund to the Bank on a timely basis. The Bank shall promptly notify the Fund, the proper exchange and the NASD or such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of the Fund and in respect of liabilities of the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by such reliance or or, absent any negligence, bad faith and willful misconduct by the the Bank, for any good faith reliance on any quotations received from a source pursuant to (iii) above. (a) The Bank shall compute the Yield Calculation for the Fund for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the Fund. (b) In performing the Yield Calculation, the Bank will derive from the records it generates and maintains for the Fund pursuant Section 11 hereof, the items of data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the Fund, any of the Fund's designated agents or any of the Fund's designated third party providers. (c) At the request of the Bank, the Fund shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to the Fund. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to the Fund of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, the Fund or its designated agent shall have the full responsibility for making the determination of how the security, or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (d) The Fund shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Fund Evaluation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading business on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, Board the net asset value and the public offering price of a share of capital stock of the Fund, such determination to be made in accordance with the provisions of the Articles Declaration of Trust and By-laws of the Fund and Prospectus and Statement of Additional Information relating to the Fund, and valuation procedures approved by the Boardas they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable, as they may from time and promptly to time be amended. Current copies of each such document are to be made available by the Fund to the Bank on a timely basis. The Bank shall promptly notify the Fund, the proper exchange and the NASD or such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of expenses the Fund and in respect of liabilities of the Fund not appearing on its books of account kept by the BankFund, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations value to be used in computing the net asset valueassigned to any security for which no price quotations are readily available and said valuation is therefore supplied by any Authorized Person, (iv) the value to be assigned to any security for which no conflicting price quotations are availableavailable or the Bank otherwise needs further direction from an Authorized Person, and said valuation is therefore supplied by any Authorized Person, and (v) the method use of computation trade information supplied by any Authorized Person until such time as the incorrectness of such trade information should reasonably have been discovered through the public offering price on the basis of the net asset value of the sharessettlement process, and the Bank shall not be responsible for any loss occasioned by such reliance reliance. The Bank shall be authorized to obtain quotations for use in computing the net asset value from one or more pricing services which it believes to be reliable but, except as expressly set forth in the preceding sentence, the Bank shall be responsible for any the accuracy of all net asset value computations made hereunder, notwithstanding the Bank's good faith reliance on any quotations received from a source pursuant to (iii) above. (a) The Bank shall compute the Yield Calculation for the Fund for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the Fund. (b) In performing the Yield Calculation, the Bank will derive from the records it generates and maintains for the Fund pursuant Section 11 hereof, the items of data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the Fund, any of the Fund's designated agents or any of the Fund's designated third party providers. (c) At the request of the Bank, the Fund shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to the Fund. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to the Fund of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, the Fund pricing service or its designated agent shall have the full responsibility for making the determination of how the security, or payment is to be treated for purposes of the computation compliance with its own reasonable monitoring and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correcttesting controls. (d) The Fund shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Fund Evaluation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading business on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, Board the net asset value and the public offering price of a share of capital stock of the Fund, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund and Prospectus and Statement of Additional Information relating to the Fund, and valuation procedures approved by the Boardas they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable, as they may from time ; and promptly to time be amended. Current copies of each such document are to be made available by the Fund to the Bank on a timely basis. The Bank shall promptly notify the Fund, the proper exchange and the NASD or such other persons as the Fund may request of the results of such computation and determination. In The Bank shall use reasonable care in computing the net asset value hereunder, and the Bank shall be liable and shall hold the fund harmless for any losses to the Fund occasioned by the Bank's own negligence in the performance of its duties under this paragraph, provided however that the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of the Fund and in respect of liabilities of the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board of Directors or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii) above. (a) The , provided the Bank shall compute the Yield Calculation for has timely supplied the Fund for the stated periods of time with such variance reports as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the Fund. (b) In performing the Yield Calculation, the Bank will derive from the records it generates and maintains for the Fund pursuant Section 11 hereof, the items of data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the Fund, any of the Fund's designated agents or any of the Fund's designated third party providers. (c) At the request of the Bank, the Fund shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods are specifically set forth in the Releases or any Subsequent Staff Positions as they specifically apply to the Fund. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to the Fund of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etcon Schedule B annexed hereto.) or otherwise or as to any other element of the computation which is pertinent to the Fund, the Fund or its designated agent shall have the full responsibility for making the determination of how the security, or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (d) The Fund shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.