Common use of IRS Compliance Clause in Contracts

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions)distribution amounts for the review and approval of Fund management and/or its independent accountant.

IRS Compliance. a. Monitor the TrustCompany’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate the required distributions (including annual excise tax distributions)distribution amounts for the review and approval of Fund management and/or its independent accountant.

IRS Compliance. a. Monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”)M, including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”)M, including without limitation, review of the following: (i) Asset diversification requirements. . (ii) Qualifying income requirements. . (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions)distribution amounts) for the review and approval of Fund management and/or its independent registered public accounting firm.

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986M, as amended (the “Code”)including, including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor Periodically monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986Code, as amended (the “Code”)amended, including without limitation, through review of the following: (i1) Asset diversification requirements.; (ii2) Qualifying income requirements.; and (iii3) Distribution requirements. b. Calculate required distributions as required (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”)M, including without limitation, review of the following: : (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (distributions, including annual excise tax distributions)distribution amounts, for the review and approval of Fund management and/or its independent accountant.

IRS Compliance. a. Monitor Periodically monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986Code, as amended (the “Code”)amended, including without limitation, through review of the following: (i1) Asset diversification requirements. (ii; 2) Qualifying income requirements.; and (iii3) Distribution requirements. b. Monitor short testing as required. c. Calculate required distributions as required (including excise tax distributions).

IRS Compliance. a. Monitor Periodically monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986Code, as amended (the “Code”)amended, including without limitation, through review of the following: (i1) Asset diversification requirements. (ii2) Qualifying income requirements. (iii3) Distribution requirements. b. Monitor short short testing as required c. Calculate required distributions as required (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification requirements. . (ii) Qualifying income requirements. . (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions)distribution amounts for the review and approval of Fund management and/or its independent accountant. c. Provide reports to the Board of Trustees and the Funds as may be reasonably requested demonstrating the Funds’ compliance status under subchapter M of the Code. 2013 3

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).. Execution Copy

IRS Compliance. a. Monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “"Code”"), including without limitation, review of the following: : (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Periodically monitor Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, through review of the following: (i1) Asset diversification requirements. (iirequirements 2) Qualifying income requirements. (iiirequirements 3) Distribution requirements. b. Monitor short testing c. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “"Code”"), including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Monitor the Trust's compliance with Section 817 of the Code. c. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor Periodically monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986Code, as amended (the “Code”)amended, including without limitation, through review of the following: (i1) Asset diversification requirements. (ii; 2) Qualifying income requirements. (iii; and 3) Distribution requirements. b. Monitor short testing as required. c. Calculate required distributions as required (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions distribution (including excise tax distributions).

IRS Compliance. a. (1) Monitor the TrustCompany’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) a. Asset diversification requirements. (ii) b. Qualifying income requirements. (iii) c. Distribution requirements. b. (i) Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”)M, including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. . (iii) Distribution requirements. b. a. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions)distribution amounts for the review and approval of Fund management and/or its independent accountant. 2013 3 c. Provide reports to the Board of Trustees and the Funds as may be reasonably requested demonstrating the Funds’ compliance status under subchapter M of the Code.

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate the required distributions (including annual excise tax distributions)distribution amounts for the review and approval of Trust management and/or its independent accountant.

IRS Compliance. a. Monitor the Trust’s Trusts’ status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements.. Execution Copy b. Calculate required distributions (including annual excise tax distributions)distribution amounts for the review and approval of Fund management and/or its independent accountant.

IRS Compliance. a. Monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “"Code”"), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions)distribution amounts for the review and approval of Fund management and/or its independent accountant.

IRS Compliance. a. Monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”)M, including without limitation, review of the following: (i) Asset diversification requirements. . (ii) Qualifying income requirements. . (iii) Distribution iii)Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”)M, including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “"Code”"), including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions).distribution amounts for the review and approval of Fund management and/or its independent accountant. FundX

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions).distribution amounts for the review and approval of Fund management and/or its independent accountant. 2016

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review reviewing and monitoring of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions)distribution amounts for the review and approval of the Funds’ Adviser and/or its independent accountant.

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions)distribution amounts for the review and approval of Fund management and/or its independent accountant.

IRS Compliance. a. Monitor Periodically monitor the Trust’s 's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986Code, as amended (the “Code”)amended, including without limitation, through review of the following: (i1) Asset diversification requirements.; (ii2) Qualifying income requirements.; and (iii3) Distribution requirements. b. Monitor short testing as required. c. Calculate required distributions as required (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including annual excise tax distributions)distribution amounts for the review and approval of Fund management and/or its independent registered public accounting firm.

IRS Compliance. a. (1) Monitor the Trust’s Corporation's status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “"Code”"), including without limitation, review of the following: (i) a. Asset diversification requirements.diversification (ii) b. Qualifying income requirements. c. Distribution requirements (iii2) Distribution requirements. b. Calculate required distributions (including excise tax distributions).

IRS Compliance. a. Monitor the Trust’s status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), including without limitation, review of the following: : (i) Asset diversification Diversification requirements. (ii) Qualifying income requirements. (iii) Distribution requirements. b. Calculate required distributions (including excise tax distributions).