Common use of Holdings Reconciliation Clause in Contracts

Holdings Reconciliation. Reconcile the portfolio holdings per the ----------------------- system to custodian records; . Pricing - Determine N.A.V. for Portfolios using market value of all ------- securities and currencies (plus N.O.A.), divided by the shares outstanding, and investigate securities with significant price changes (over 5%); . System Check-Back - Verify the change in market value of securities ----------------- which saw trading activity per the system; . Net Asset Value Reconciliation - Identify the impact of current day's ------------------------------ Portfolio activity on a per share basis; . Reporting of Price to NASDAQ - 5:30 P.M. is the final deadline for ----------------------------- Fund prices being reported to the newspaper; . Reporting of Price to Transfer Agent- N.A.V.s are reported to transfer ------------------------------------ agent upon total completion of above activities. In addition, fund accounting personnel: communicate corporate actions of portfolio holdings to portfolio managers; initiate notification to custodian procedures on outstanding income receivables; provide information to the Fund's treasurer for reports to shareholders, SEC, Board members, tax authorities, statistical and performance reporting companies and the Fund's auditors; interface with the Fund's auditors; prepare monthly reconciliation packages, including expense pro forma; prepare amortization schedules for premium and discount bonds based on the effective yield method; prepare vault reconciliation reports to indicate securities currently "out-for-transfer;" and calculate daily expenses based on expense ratios supplied by Fund's treasurer.

Holdings Reconciliation. Reconcile the portfolio holdings per the ----------------------- system to custodian records; . Pricing - Determine N.A.V. for Portfolios Fund using market value of all ------- securities and currencies (plus N.O.A.), divided by the shares outstanding, and investigate securities with significant price changes (over 5%); . System Check-Back - Verify the change in market value of ----------------- securities ----------------- which saw trading activity per the system; . Net Asset Value Reconciliation - Identify the impact of current day's ------------------------------ Portfolio Fund activity on a per share basis; . Reporting of Price to NASDAQ - 5:30 P.M. is the final deadline for ----------------------------- Fund prices being reported to the newspaper; . Reporting of Price to Transfer Agent- N.A.V.s are reported to transfer ------------------------------------ agent upon total completion of above activities. In addition, fund accounting personnel: communicate corporate actions of portfolio holdings to portfolio managers; initiate notification to custodian procedures on outstanding income receivables; provide information to the Fund's treasurer for reports to shareholders, SEC, Board members, tax authorities, statistical and performance reporting companies and the Fund's auditors; interface with the Fund's auditors; prepare monthly reconciliation packages, including expense pro forma; prepare amortization schedules for premium and discount bonds based on the effective yield method; prepare vault reconciliation reports to indicate securities currently "out-for-transfer;" and calculate daily expenses based on expense ratios supplied by Fund's treasurer.

Holdings Reconciliation. Reconcile the portfolio holdings per the ----------------------- system to custodian records; . ? Pricing - Determine N.A.V. for Portfolios using market value of all ------- securities and currencies (plus N.O.A.), divided by the shares outstanding, and investigate securities with significant price changes (over 5%); . ? System Check-Back - Verify the change in market value of securities ----------------- which saw trading activity per the system; . ? Net Asset Value Reconciliation - Identify the impact of current day's ------------------------------ Portfolio activity on a per share basis; . ? Reporting of Price to NASDAQ - 5:30 P.M. is the final deadline for ----------------------------- Fund prices being reported to the newspaper; . ? Reporting of Price to Transfer Agent- N.A.V.s are reported to transfer ------------------------------------ agent upon total completion of above activities. In addition, fund accounting personnel: communicate corporate actions of portfolio holdings to portfolio managers; initiate notification to custodian procedures on outstanding income receivables; provide information to the Fund's treasurer for reports to shareholders, SEC, Board members, tax authorities, statistical and performance reporting companies and the Fund's auditors; interface with the Fund's auditors; prepare monthly reconciliation packages, including expense pro forma; prepare amortization schedules for premium and discount bonds based on the effective yield method; prepare vault reconciliation reports to indicate securities currently "out-for-transfer;" and calculate daily expenses based on expense ratios supplied by Fund's treasurer. Financial Administration. The financial administration services made available to the Fund fall within three main categories: Financial Reporting; Statistical Reporting; and Publications. The following is a summary of the services made available to the Fund by the Financial Administration Division: Financial Reporting ? Coordinate the preparation and review of the annual, semi-annual and quarterly portfolio of investments and financial statements included in the Fund's shareholder reports. Statistical Reporting ? Total return reporting; ? SEC 30-day yield reporting; ? Prepare dividend summary; ? Prepare quarter-end reports; ? Communicate statistical data to the financial media (Donoghue, Lipper, Morningstar, et al.)

Holdings Reconciliation. Reconcile the portfolio holdings per the ----------------------- system to custodian records; . Pricing - Determine N.A.V. for Portfolios Fund using market value of all ------- securities and currencies (plus N.O.A.), divided by the shares outstanding, and investigate securities with significant price changes (over 5%); . Money Market Fund Pricing - Monitor valuation for compliance with Rule 2a-7; System Check-Back - Verify the change in market value of securities ----------------- which saw trading activity per the system; . Net Asset Value Reconciliation - Identify the impact of current day's ------------------------------ Portfolio Fund activity on a per share basis; . Reporting of Price to NASDAQ - 5:30 P.M. is the final deadline for ----------------------------- Fund prices being reported to the newspaper; . Reporting of Price to Transfer Agent- N.A.V.s are reported to transfer ------------------------------------ agent upon total completion of above activities. In addition, fund accounting personnel: communicate corporate actions of portfolio holdings to portfolio managers; initiate notification to custodian procedures on outstanding income receivables; provide information to the Fund's treasurer for reports to shareholders, SEC, Board members, tax authorities, statistical and performance reporting companies and the Fund's auditors; interface with the Fund's auditors; prepare monthly reconciliation packages, including expense pro forma; prepare amortization schedules for premium and discount bonds based on the effective yield method; prepare vault reconciliation reports to indicate securities currently "out-for-transfer;" and calculate daily expenses based on expense ratios supplied by Fund's treasurer. Financial Administration. The financial administration services made available to the Fund fall within three main categories: Financial Reporting; Statistical Reporting; and Publications. The following is a summary of the services made available to the Fund by the Financial Administration Division: Financial Reporting Coordinate the preparation and review of the annual, semi- annual and quarterly portfolio of investments and financial statements included in the Fund's shareholder reports. Statistical Reporting Total return reporting; SEC 30-day yield reporting and 7-day yield reporting (for money market funds); Prepare dividend summary; Prepare quarter-end reports; Communicate statistical data to the financial media (Donoghue, Lipper, Morningstar, et al.)