Common use of Investment Plan Clause in Contracts

Investment Plan. (i) obtain and evaluate pertinent economic, statistical, financial and other information affecting the economy generally and individual companies or industries the securities of which are included in the Fund or are under consideration for inclusion therein; (ii) formulate and implement a continuous investment program for the Fund consistent with the investment objective and related investment policies for such Fund as set forth in the Trust’s registration statement, as amended; (iii) take such steps as are necessary to implement the aforementioned investment program by purchase and sale of securities and other instruments, including the placing of orders for such purchases and sales, entering into derivative transactions (if applicable) and by managing all cash in the Fund; (iv) if applicable, purchase, sell, exchange or convert foreign currency in the spot or forward markets in connection with portfolio trades as agent, at the market rate, as determined by the Sub-Adviser in its sole discretion. Conversion of currencies into and out of the base currency of the Fund in restricted markets and, unless agreed otherwise by the Sub-Adviser, generally income repatriation transactions will be the responsibility of the Fund’s custodian (the “Custodian”), not of the Sub-adviser. To the extent that the Fund’s custodian performs such transactions, the Sub-Adviser shall not have the ability to control such transactions and will be limited in its ability to assess the quality of such transactions. In addition, whether a market is considered to be restricted will depend on a number of factors, including, but not limited to, country specific statutory documentation requirements, country specific structural risks and convertibility issues. Accordingly, the Sub-Adviser shall be entitled to consult with third parties, including, but not limited to, broker-dealers and custodians, and rely upon such information in making a good faith determination on whether a market is considered restricted. (v) if applicable, manage required collateral levels in connection with the investment and reinvestment of the assets of the Funds. If applicable, the Sub-Adviser will provide instructions to the Custodian to post collateral and to call for collateral from counterparties, as necessary, and will arrange for the transmission to the Custodian on a daily basis such confirmation, trade tickets, and other identifying information (including, but not limited to, Cusip, Sedol, or other numbers that identify the securities to be purchased or sold on behalf of the Fund) as may be reasonably necessary to enable the Custodian to perform its administrative and recordkeeping responsibilities with respect to the Fund. If applicable, the Sub-Adviser will provide reports with respect to its collateral management activities as requested by the Adviser; (vi) regularly report to the Trustees of the Trust with respect to the implementation of these investment programs; (vii) provide assistance with and make recommendations for the fair value of securities held by the Fund for which market quotations are not readily available or which may be identified for review from time to time by either the Trust or the Sub-Adviser; (viii) notify Adviser of securities in the Fund that are fair valued by the Sub-Adviser pursuant to the Sub-Adviser’s valuation policies; and (ix) review portions of the Trust’s registration statement applicable to Sub-adviser on an annual basis and provide proposed revisions to Adviser.

Investment Plan. (i) i. obtain and evaluate pertinent economic, statistical, financial and other information affecting the economy generally and individual companies or industries the securities of which are included in the Fund or are under consideration for inclusion therein; (ii) . formulate and implement a continuous investment program for the Fund Funds consistent with the investment objective and related investment policies for such Fund as set forth in the Trust’s registration statement, as amendedRegistration Statement; (iii) . take such steps as are necessary to implement the aforementioned investment program by purchase and sale of securities and other instruments, including the placing of orders for such purchases and sales, entering into derivative transactions (if applicable) and by managing all cash in the FundFunds; (iv) . if applicable, purchase, sell, exchange or convert foreign currency in the spot or forward markets in connection with portfolio trades as agent, at the market rate, as determined by the Sub-Adviser in its sole discretion. Conversion of currencies into and out of the base currency of the Fund in restricted markets and, unless agreed otherwise by the Sub-Adviser, generally income repatriation transactions will be the responsibility of the Fund’s custodian (the “Custodian”), not of the Sub-adviserAdviser. To the extent that the Fund’s custodian Custodian performs such transactions, the Sub-Adviser shall not have the ability to control such transactions and will be limited in its ability to assess the quality of such transactions. In addition, whether a market is considered to be restricted will depend on a number of factors, including, but not limited to, country specific statutory documentation requirements, country specific structural risks and convertibility issues. Accordingly, the Sub-Adviser shall be entitled to consult with third parties, including, but not limited to, broker-dealers and custodians, and rely upon such information in making a good faith determination on whether a market is considered restricted. (v) v. if applicable, manage required collateral levels in connection with the investment and reinvestment of the assets of the Funds. If applicable, the Sub-Adviser will provide instructions to the Custodian to post collateral and to call for collateral from counterparties, as necessary, and will arrange for the transmission to the Custodian on a daily basis such confirmation, trade tickets, and other identifying information (including, but not limited to, CusipCUSIP, Sedol, or other numbers that identify the securities to be purchased or sold on behalf of the FundFunds) as may be reasonably necessary to enable the Custodian to perform its administrative and recordkeeping responsibilities with respect to the Fund. If applicable, the Sub-Adviser will provide reports with respect to its collateral management activities as requested by the Adviser; (vi) . regularly report to the Trustees of the Trust Board with respect to the implementation of these investment programs; (vii) . provide reasonable assistance with and make recommendations for to the Adviser, the Trust, or the Custodian, or each of their respective delegates regarding the assessment of the fair value of securities held by the Fund Funds for which market quotations are not readily available available, or which may be identified for review by review, from time to time time, by either the Trust or the Sub-Adviser; (viii) . notify Adviser of securities in the Fund Funds that are fair valued by the Sub-Adviser pursuant to the Sub-Adviser’s valuation policies; and; (ix) . review portions of the Trust’s registration statement Registration Statement applicable to the Funds or the Sub-adviser Adviser on an annual basis and provide proposed revisions to Adviser; x. provide reasonable input to the Adviser and the Funds with regards to the Adviser and Fund’s duties for certain operational services for the Funds, including, without limitation, the following: (a) the preparation of tax returns; (b) the preparation and submission of reports to the shareholders of the Funds; (c) periodic updates to those portions of the Prospectus and Statement of Additional Information of the Trust relevant to the Funds; and (d) the preparation of reports to be filed with the SEC and other regulatory authorities; and xi. upon request by the Adviser, the Sub-Adviser shall provide such information and assistance as may be reasonably required to enable the Adviser to fulfill its obligations under the Trust’s Liquidity Risk Management Program, including, without limitation, review of all liquidity determinations.

Investment Plan. (i) obtain and evaluate pertinent economic, statistical, financial financial, and other information affecting the economy generally generally, and individual companies or industries the securities of which are included in the Fund or are under consideration for inclusion thereinin the Fund; (ii) formulate and implement a continuous investment program for the Fund consistent with the investment objective objectives and related investment policies for such the Fund as set forth in the Trust’s registration statement, as amendedFund Documents; (iii) take such steps as are necessary to implement the aforementioned investment program by purchase and sale of securities and other financial instruments, including the placing of orders for such purchases and sales, entering into derivative transactions (if applicable) ), and by managing all cash in and cash equivalents held by the Fund; (iv) if applicable, purchase, sell, exchange exchange, or convert foreign currency in the spot or forward markets in connection with portfolio trades as agent, at the market rate, as determined by the Sub-Adviser in its sole discretion. Conversion of currencies currency into and out of the base currency of the Fund in markets where the Sub-Adviser has determined that country-specific regulations, market practices, or operational risk considerations call for the execution of FX (often referred to as “restricted markets market” FX) and, unless agreed otherwise by the Sub-Adviser, generally income repatriation transactions will transactions, shall be the responsibility of the Fund’s custodian (the “Custodian”), not of the Sub-adviserAdviser. To the extent that the Fund’s custodian Custodian performs such transactions, the Sub-Adviser shall not have the ability to control such transactions and will shall be limited in its ability to assess the quality of such transactions. In addition, whether a market is considered to be restricted will shall depend on a number of factors, including, but not limited to, country country-specific statutory documentation requirements, country country-specific structural risks risks, and convertibility issues. Accordingly, the Sub-Adviser shall be entitled to consult with third parties, including, but not limited to, broker-dealers and custodians, and rely upon such the information it receives in response in making a good faith determination on whether a market is shall be considered restricted.; (v) if applicable, manage any required collateral levels in connection with the investment and reinvestment of the assets of the FundsFund. If applicablecollateral management is required, the Sub-Adviser will shall provide instructions to the Custodian to post collateral and to call for collateral from counterparties, as necessary, and will shall arrange for the transmission to the Custodian on a daily basis such confirmation, trade tickets, and other identifying information (including, but not limited to, CusipCUSIP, Sedol, ISIN, FIGI, or other numbers that identify identifiers of the securities to be purchased or sold on behalf of the Fund) as may be reasonably necessary or required to enable the Custodian to perform and carry out its administrative and recordkeeping responsibilities with respect to the Fund. If applicableUpon request, the Sub-Adviser will shall provide Adviser with any reports with respect to its the collateral management activities as requested performed by the AdviserSub-Adviser under this Agreement; (vi) regularly report to the Trustees of the Trust with respect to the implementation and performance of these the investment programsprograms of the Fund; (vii) provide reasonable assistance with and make recommendations for to the Adviser, the Trust, the Fund, or each of their respective delegates regarding the assessment of the fair value of securities held by the Fund for which market quotations are not readily available available, or which may be identified for review by review, from time to time time, by either the Trust or the Sub-Adviser; (viii) notify Adviser on an annual basis, review those certain portions of securities in the Fund that are fair valued by Documents appliable to the Fund and the Sub-Adviser, provide proposed revisions thereto, or otherwise confirm to the Adviser the information relevant to the Fund and the Sub-Adviser pursuant contained in the Fund Documents is accurate; (ix) assist the Adviser and the Fund with certain operational services for the Fund, including, without limitation, the following: (a) the preparation of tax returns; (b) the preparation and submission of reports to the Sub-Adviser’s valuation policiesshareholders of the Fund; (c) periodic updates to those portions of the Prospectus and Statement of Additional Information of the Trust relevant to the Fund; and (d) the preparation of reports, including, but not limited to, information statements or proxy statements, to be filed with the SEC and other regulatory authorities; and (ixx) review portions of upon request by the Adviser, the Sub-Adviser shall provide such information and assistance as may be reasonably required to enable the Adviser to fulfill its obligations under the Trust’s registration statement applicable to Sub-adviser on an annual basis and provide proposed revisions to AdviserLiquidity Risk Management Program, including, without limitation, review of all liquidity determinations.

Investment Plan. (i) obtain and evaluate pertinent economic, statistical, financial and other information affecting the economy generally and individual companies or industries the securities of which are included in the Fund or are under consideration for inclusion therein; (ii) formulate and implement a continuous investment program for the Fund consistent with the investment objective and related investment policies for such Fund as set forth in the Trust’s registration statement, as amended; (iii) take such steps as are necessary to implement the aforementioned investment program by purchase and sale of securities and other instruments, including the placing of orders for such purchases and sales, entering into derivative transactions (if applicable) and by managing all cash in the Fund; (iv) if applicable, purchase, sell, exchange or convert foreign currency in the spot or forward markets in connection with portfolio trades as agent, at the market rate, as determined by the Sub-Adviser in its sole discretion. Conversion of currencies into and out of the base currency of the Fund in markets where the Sub-Adviser has determined that country-specific regulations, market practice, or operational risk considerations call for the Adviser’s custodian to execute FX (often referred to as “restricted markets market” FX) and, unless agreed otherwise by the Sub-Adviser, generally income repatriation transactions will be the responsibility of the Fund’s custodian (the “Custodian”), not of the Sub-adviser. To the extent that the Fund’s custodian performs such transactions, the Sub-Adviser shall not have the ability to control such transactions and will be limited in its ability to assess the quality of such transactions. In addition, whether a market is considered to be restricted will depend on a number of factors, including, but not limited to, country specific statutory documentation requirements, country specific structural risks and convertibility issues. Accordingly, the Sub-Adviser shall be entitled to consult with third parties, including, but not limited to, broker-dealers and custodians, and rely upon such information in making a good faith determination on whether a market is considered restricted. (v) if applicable, manage required collateral levels in connection with the investment and reinvestment of the assets of the Funds. If applicable, the Sub-Adviser will provide instructions to the Custodian to post collateral and to call for collateral from counterparties, as necessary, and will arrange for the transmission to the Custodian on a daily basis such confirmation, trade tickets, and other identifying information (including, but not limited to, Cusip, Sedol, or other numbers that identify the securities to be purchased or sold on behalf of the Fund) as may be reasonably necessary to enable the Custodian to perform its administrative and recordkeeping responsibilities with respect to the Fund. If applicable, the Sub-Adviser will provide reports with respect to its collateral management activities as reasonably requested by the Adviser; (vi) regularly report to the Trustees of the Trust with respect to the implementation of these investment programs; (vii) provide reasonable assistance to the Fund and/or its delegates with and make recommendations for regard to the assessment of the fair value of securities held by the Fund for which market quotations are not readily available or which may be identified for review from time to time by either the Trust or the Sub-Adviser; (viii) notify Adviser of securities in the Fund that are fair valued by the Sub-Adviser pursuant to the Sub-Adviser’s valuation policies; and (ixviii) review portions of the Trust’s registration statement applicable to Sub-adviser on an annual basis upon request and provide proposed revisions to Adviser.

Investment Plan. (i) obtain and evaluate pertinent economic, statistical, financial financial, and other information affecting the economy generally generally, and individual companies or industries the securities of which are included in the Fund or are under consideration for inclusion thereinin the Fund; (ii) formulate and implement a continuous investment program for the Fund consistent with the investment objective objectives and related investment policies for such the Fund as set forth in the Trust’s registration statement, as amendedFund Documents; (iii) take such steps as are necessary to implement the aforementioned investment program by purchase and sale of securities and other financial instruments, including the placing of orders for such purchases and sales, entering into derivative transactions (if applicable) ), and by managing all cash in and cash equivalents held by the Fund; (iv) if applicable, purchase, sell, exchange exchange, or convert foreign currency in the spot or forward markets in connection with portfolio trades as agent, at the market rate, as determined by the Sub-Adviser in its sole discretion. Conversion of currencies currency into and out of the base currency of the Fund in markets where the Sub-Adviser has determined that country-specific regulations, market practices, or operational risk considerations call for the execution of FX (often referred to as “restricted markets market” FX) and, unless agreed otherwise by the Sub-Adviser, generally income repatriation transactions will transactions, shall be the responsibility of the Fund’s custodian (the “Custodian”), not of the Sub-adviserAdviser. To the extent that the Fund’s custodian Custodian performs such transactions, the Sub-Adviser shall not have the ability to control such transactions and will shall be limited in its ability to assess the quality of such transactions. In addition, whether a market is considered to be restricted will shall depend on a number of factors, including, but not limited to, country country-specific statutory documentation requirements, country country-specific structural risks risks, and convertibility issues. Accordingly, the Sub-Adviser shall be entitled to consult with third parties, including, but not limited to, broker-dealers and custodians, and rely upon such the information it receives in response in making a good faith determination on whether a market is shall be considered restricted.; (v) if applicable, manage any required collateral levels in connection with the investment and reinvestment of the assets of the FundsFund. If applicablecollateral management is required, the Sub-Adviser will shall provide instructions to the Custodian to post collateral and to call for collateral from counterparties, as necessary, and will shall arrange for the transmission to the Custodian on a daily basis such confirmation, trade tickets, and other identifying information (including, but not limited to, CusipCUSIP, Sedol, ISIN, FIGI, or other numbers that identify identifiers of the securities to be purchased or sold on behalf of the Fund) as may be reasonably necessary or required to enable the Custodian to perform and carry out its administrative and recordkeeping responsibilities with respect to the Fund. If applicableUpon request, the Sub-Adviser will shall provide Adviser with any reports with respect to its the collateral management activities as requested performed by the AdviserSub-Adviser under this Agreement; (vi) regularly report to the Trustees of the Trust with respect to the implementation and performance of these the investment programsprograms of the Fund; (vii) provide reasonable assistance with and make recommendations for to the Adviser, the Trust, the Fund, or each of their respective delegates regarding the assessment of the fair value of securities held by the Fund for which market quotations are not readily available available, or which may be identified for review by review, from time to time time, by either the Trust or the Sub-Adviser; (viii) notify Adviser on an annual basis, review those certain portions of securities in the Fund that are fair valued by Documents appliable to the Fund and the Sub-Adviser, provide proposed revisions thereto, or otherwise confirm to the Adviser the information relevant to the Fund and the Sub-Adviser pursuant contained in the Fund Documents is accurate; (ix) assist the Adviser and the Fund with certain operational services for the Fund, including, without limitation, the following: (a) the preparation of tax returns; (b) the preparation and submission of reports to the Sub-Adviser’s valuation policiesshareholders of the Fund; (c) periodic updates to those portions of the Fund Documents relevant to the Fund; and (d) the preparation of reports to be filed with the SEC and other regulatory authorities; and (ixx) review portions of upon request by the Adviser, the Sub-Adviser shall provide such information and assistance as may be reasonably required to enable the Adviser to fulfill its obligations under the Trust’s registration statement applicable to Sub-adviser on an annual basis and provide proposed revisions to AdviserLiquidity Risk Management Program, including, without limitation, review of all liquidity determinations.

Investment Plan. (i) obtain and evaluate pertinent economic, statistical, financial and other information affecting the economy generally and individual companies or industries the securities of which are included in the Fund or are under consideration for inclusion therein; (ii) formulate and implement a continuous investment program for the Fund consistent with the investment objective and related investment policies for such Fund as set forth in the Trust’s registration statement, as amended; (iii) take such steps as are necessary to implement the aforementioned investment program by purchase and sale of securities and other instruments, including the placing of orders for such purchases and sales, entering into derivative transactions (if applicable) and by managing all cash in the Fund; (iv) if applicable, purchase, sell, exchange or convert foreign currency in the spot or forward markets in connection with portfolio trades as agent, at the market rate, as determined by the Sub-Adviser in its sole discretion. Conversion of currencies into and out of the base currency of the Fund in restricted markets and, unless agreed otherwise by the Sub-Adviser, generally income repatriation transactions will be the responsibility of the Fund’s custodian (the “Custodian”), not of the Sub-adviser. To the extent that the Fund’s custodian performs such transactions, the Sub-Adviser shall not have the ability to control such transactions and will be limited in its ability to assess the quality of such transactions. In addition, whether a market is considered to be restricted will depend on a number of factors, including, but not limited to, country specific statutory documentation requirements, country specific structural risks and convertibility issues. Accordingly, the Sub-Adviser shall be entitled to consult with third parties, including, but not limited to, broker-dealers and custodians, and rely upon such information in making a good faith determination on whether a market is considered restricted. (v) if applicable, manage required collateral levels in connection with the investment and reinvestment of the assets of the Funds. If applicable, the Sub-Adviser will provide instructions to the Custodian to post collateral and to call for collateral from counterparties, as necessary, and will arrange for the transmission to the Custodian on a daily basis such confirmation, trade tickets, and other identifying information (including, but not limited to, Cusip, Sedol, or other numbers that identify the securities to be purchased or sold on behalf of the Fund) as may be reasonably necessary to enable the Custodian to perform its administrative and recordkeeping responsibilities with respect to the Fund. If applicable, the Sub-Adviser will provide reports with respect to its collateral management activities as requested by the Adviser; (vi) regularly report to the Trustees of the Trust with respect to the implementation of these investment programs; (vii) provide assistance with and make recommendations for the fair value of securities held by the Fund for which market quotations are not readily available or which may be identified for review from time to time by either the Trust or the Sub-Adviser; (viii) notify Adviser of securities in the Fund that are fair valued by the Sub-Adviser pursuant to the Sub-Adviser’s valuation policies; and (ix) review portions of the Trust’s registration statement applicable to Sub-adviser on an annual basis and provide proposed revisions to Adviser.

Investment Plan. (i) obtain and evaluate pertinent economic, statistical, financial financial, and other information affecting the economy generally generally, and individual companies or industries the securities of which are included in the Fund or are under consideration for inclusion thereinin the Fund; (ii) formulate and implement a continuous investment program for the Fund consistent with the investment objective objectives and related investment policies for such the Fund as set forth in the TrustFund Documents. An investment’s registration statementcompliance with the Fund Documents shall be determined on the date of purchase only, based upon the price and characteristics of the investment on the date of purchase compared to the market value of the Fund as amendedof the most recent valuation date; (iii) take such steps as are necessary to implement the aforementioned investment program by purchase and sale of securities and other financial instruments, including the placing of orders for such purchases and sales, entering into derivative transactions (if applicable) ), and by managing all cash in and cash equivalents held by the Fund; (iv) if applicable, purchase, sell, exchange exchange, or convert foreign currency in the spot or forward markets in connection with portfolio trades as agent, at the market rate, as determined by the Sub-Adviser in its sole discretion. Conversion of currencies currency into and out of the base currency of the Fund in markets where the Sub-Adviser has determined that country-specific regulations, market practices, or operational risk considerations call for the execution of FX (often referred to as “restricted markets market” FX) and, unless agreed otherwise by the Sub-Adviser, generally income repatriation transactions will transactions, shall be the responsibility of the Fund’s custodian (the “Custodian”), not of the Sub-adviserAdviser. To the extent that the Fund’s custodian Custodian performs such transactions, the Sub-Adviser shall not have the ability to control such transactions and will shall be limited in its ability to assess the quality of such transactions. In addition, whether a market is considered to be restricted will shall depend on a number of factors, including, but not limited to, country country-specific statutory documentation requirements, country country-specific structural risks risks, and convertibility issues. Accordingly, the Sub-Adviser shall be entitled to consult with third parties, including, but not limited to, broker-dealers and custodians, and rely upon such the information it receives in response in making a good faith determination on whether a market is shall be considered restricted.; (v) if applicable, manage any required collateral levels in connection with the investment and reinvestment of the assets of the FundsFund. If applicablecollateral management is required, the Sub-Adviser will shall provide instructions to the Custodian to post collateral and to call for collateral from counterparties, as necessary, and will shall arrange for the transmission to the Custodian on a daily basis such confirmation, trade tickets, and other identifying information (including, but not limited to, CusipCUSIP, Sedol, ISIN, FIGI, or other numbers that identify identifiers of the securities to be purchased or sold on behalf of the Fund) as may be reasonably necessary or required to enable the Custodian to perform and carry out its administrative and recordkeeping responsibilities with respect to the Fund. If applicableUpon request, the Sub-Adviser will shall provide Adviser with any reports with respect to its the collateral management activities as requested performed by the AdviserSub-Adviser under this Agreement; (vi) regularly annually (or as otherwise agreed by the parties), provide an in-person report to the Trustees of the Trust with respect to the implementation and performance of these the investment programsprograms of the Fund; (vii) provide reasonable assistance with and make recommendations for to the Adviser, the Trust, the Fund, or each of their respective delegates regarding the assessment of the fair value of securities held by the Fund for which market quotations are not readily available available, or which may be identified for review by review, from time to time time, by either the Trust or the Sub-Adviser; (viii) notify Adviser on request, but no more than on an annual or as otherwise agreed basis, review those certain portions of securities in the Fund that are fair valued by Documents appliable to the Fund and the Sub-Adviser, provide proposed revisions thereto, or otherwise confirm to the Adviser the information relevant to the Fund and the Sub-Adviser pursuant contained in the Fund Documents is accurate; (ix) assist the Adviser and the Fund with certain operational services for the Fund, including, without limitation, the following: (a) the preparation and submission of reports to the Sub-Adviser’s valuation policiesshareholders of the Fund; and (b) periodic updates to those portions of the Prospectus and Statement of Additional Information of the Trust relevant to the Fund; and (ixx) review portions of upon request by the Adviser, the Sub-Adviser shall provide such information and assistance as may be reasonably required to enable the Adviser to fulfill its obligations under the Trust’s registration statement applicable to Sub-adviser on an annual basis and provide proposed revisions to AdviserLiquidity Risk Management Program, including, without limitation, review of all liquidity determinations. For the avoidance of doubt, the Fund shall be responsible for procuring its own Liquidity Risk Management monitoring system.

Investment Plan. (i) obtain and evaluate pertinent economic, statistical, financial and other information affecting the economy generally and individual companies or industries the securities of which are included in the Fund or are under consideration for inclusion therein; (ii) formulate and implement a continuous investment program for the Fund consistent with the investment objective and related investment policies for such Fund as set forth in the Trust’s registration statement, as amended; (iii) take such steps as are necessary to implement the aforementioned investment program by purchase and sale of securities and other instruments, including the placing of orders for such purchases and sales, entering into derivative transactions (if applicable) and by managing all cash in the Fund; (iv) if applicable, purchase, sell, exchange or convert foreign currency in the spot or forward markets in connection with portfolio trades as agent, at the market rate, as determined by the Sub-Adviser in its sole discretion. Conversion of currencies into and out of the base currency of the Fund in restricted markets and, unless agreed otherwise by the Sub-Adviser, generally income repatriation transactions will be the responsibility of the Fund’s custodian (the “Custodian”), not of the Sub-adviser. To the extent that the Fund’s custodian performs such transactions, the Sub-Adviser shall not have the ability to control such transactions and will be limited in its ability to assess the quality of such transactions. In addition, whether a market is considered to be restricted will depend on a number of factors, including, but not limited to, country specific statutory documentation requirements, country specific structural risks and convertibility issues. Accordingly, the Sub-Adviser shall be entitled to consult with third parties, including, but not limited to, broker-dealers and custodians, and rely upon such information in making a good faith determination on whether a market is considered restricted. (v) if applicable, manage required collateral levels in connection with the investment and reinvestment of the assets of the Funds. If applicable, the Sub-Adviser will provide instructions to the Custodian to post collateral and to call for collateral from counterparties, as necessary, and will arrange for the transmission to the Custodian on a daily basis such confirmation, trade tickets, and other identifying information (including, but not limited to, Cusip, Sedol, or other numbers that identify the securities to be purchased or sold on behalf of the Fund) as may be reasonably necessary to enable the Custodian to perform its administrative and recordkeeping responsibilities with respect to the Fund. If applicable, the Sub-Adviser will provide reports with respect to its collateral management activities as requested by the Adviser; (vi) regularly report to the Trustees of the Trust with respect to the implementation of these investment programs; (vii) provide reasonable assistance with and make recommendations for the fair value of securities held by the Fund for which market quotations are not readily available or which may be identified for review from time to time by either the Trust or the Sub-Adviser; (viii) notify Adviser of securities in the Fund that are fair valued by the Sub-Adviser pursuant to the Sub-Adviser’s valuation policies; and (ixviii) review portions of the Trust’s registration statement applicable to Sub-adviser on an annual basis upon request and provide proposed revisions to Adviser.