Common use of JOINT SERVICES COMMITTEE Clause in Contracts

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “MLIM Group”) which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee (the “JSC”) comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “Committee Members”). For purposes of this section, the MLIM Group shall be treated as one entity in terms of their ability to appoint representatives to the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 Xxxxx Xxxxxx shall provide to the JSC and the representative(s) of the MLIM Group a monthly report in such form as the Committee Members shall agree (the “Key Performance Indicator Report”) showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM to one or more of the Funds. 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “"MLIM Group”") which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee ­Committee (the “"JSC”") comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “"Committee Members”"). For purposes of this section, the MLIM MUM Group shall be treated as one entity in terms of their ability to appoint representatives to the ­the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM MUM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM MUM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 Xxxxx Xxxxxx shall provide to the JSC and the representative(s) of the MLIM MUM Group a monthly report in such form as the Committee Members shall agree (the “"Key Performance Indicator Report”") showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM MUM to one or more of the Funds. 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “MLIM Group”) which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee (the “JSC”) comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “Committee Members”). For purposes of this section, the MLIM Group shall be treated as one entity in terms of their ability to appoint representatives to the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 10.0 Xxxxx Xxxxxx shall provide to the JSC and the representative(s) of the MLIM Group a monthly report in such form as the Committee Members shall agree (the “Key Performance Indicator Report”) showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM to one or more of the Funds. 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “"MLIM Group”") which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee (the “"JSC”") comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “"Committee Members”"). For purposes of this section, the MLIM Group shall be treated as one entity in terms of their ability to appoint representatives to the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 Xxxxx Xxxxxx shall provide to the JSC and the representative(s) of the MLIM Group a monthly report in such form as the Committee Members shall agree (the “"Key Performance Indicator Report”") showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 15.2. 1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM to one or more of the Funds. 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “"MLIM Group”") which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee ­Committee (the “"JSC”") comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “"Committee Members”"). For purposes of this section, the MLIM Group shall be treated as one entity in terms of their ability to appoint representatives to the ­the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 Xxxxx Xxxxxx shall provide to the JSC and the representative(s) of the MLIM Group a monthly report in such form as the Committee Members shall agree (the “"Key Performance Indicator Report”") showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM to one or more of the Funds. 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “"MLIM Group”") which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee (the “"JSC”") comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “"Committee Members”"). For purposes of this section, the MLIM Group shall be treated as one entity in terms of their ability to appoint representatives to the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 Xxxxx Xxxxxx shall provide to the JSC and the representative(s) of the MLIM Group a monthly report in such form as the Committee Members shall agree (the “"Key Performance Indicator Report”") showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM to one or more of the Funds. 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “MLIM Group”) which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee (the “JSC”) comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “Committee Members”). For purposes of this section, the MLIM MUM Group shall be treated as one entity in terms of their ability to appoint representatives to the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM MUM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM MUM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 Xxxxx Xxxxxx shall provide to the JSC and the representative(s) of the MLIM MUM Group a monthly report in such form as the Committee Members shall agree (the “Key Performance Indicator Report”) showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM MUM to one or more of the Funds. 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “"MLIM Group”") which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee (the “"JSC”") comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “"Committee Members”"). For purposes of this section, the MLIM Group shall be treated as one entity in terms of their ability to appoint representatives to the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 15.2 Xxxxx Xxxxxx shall xxxll provide to the JSC and the representative(s) of the MLIM Group a monthly report in such form as the Committee Members shall agree (the “"Key Performance Indicator Report”") showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM to one or more of the Funds. 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “"MLIM Group”") which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee (the “"JSC”") comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “"Committee Members”"). For purposes of this section, the MLIM Group shall be treated as one entity in terms of their ability to appoint representatives to the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings meeting of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 Xxxxx Xxxxxx shall provide to the JSC and the representative(s) of the MLIM Group a monthly report in such form as the Committee Members shall agree (the “"Key Performance Indicator Report”") showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM to one or more of the Funds.; 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.

JOINT SERVICES COMMITTEE. 15.1 Following the signing of this Agreement, State Street and the Funds, in conjunction with MLIM and Princeton Administrators, L.P. (collectively, the “"MLIM Group”") which have entered into separate Administrative Services Agreements with State Street, shall establish a Joint Services Committee (the “"JSC”") comprised of an equal number of representatives appointed to represent State Street and the MLIM Group (the “"Committee Members”"). For purposes of this section, the MLIM Group shall be treated as one entity in terms of their ability to appoint representatives to the JSC. Except as otherwise agreed, a meeting shall not be validly constituted unless an equal number of representatives from the MLIM Group and State Street are present. The JSC shall continue in existence after termination of this Agreement until such time as all activities performed by State Street under this Agreement have been transferred to a successor service provider. All parties shall be entitled from time to time to replace any of their representatives (and shall notify one another of their intention to do so). The JSC shall monitor the progress and performance of this Agreement in relation to the Services and shall meet on a regular basis no less frequently than quarterly unless otherwise agreed. Each of State Street and the MLIM Group shall also be entitled to convene meetings of the JSC by giving notice to all members of the JSC. A representative of the Funds shall chair all meetings of the JSC. The minutes shall be kept by State Street and, subject to review of all parties, issued to the MLIM Group. The JSC shall establish its own procedures and each party shall use all reasonable endeavors to meet the actions agreed at those meetings and cooperate with the other to provide personnel, resources and actions to meet their obligations under this Agreement. 00.0 15.2 Xxxxx Xxxxxx shall xxxll provide to the JSC and the representative(s) of the MLIM Group a monthly report in such form as the Committee Members shall agree (the “"Key Performance Indicator Report”") showing the following performance levels achieved by State Street in providing the relevant Services including, but not limited to: 15.2.1 the average performance in the previous 12 months; 15.2.2 the month with the highest and lowest performance levels in the previous 12 months; and 15.2.3 the performance in each month since the previous meeting. 15.3 The JSC shall be responsible for: 15.3.1 determining whether a Service is an Existing Service or a New Service and, for this purpose, a Service shall be determined to be an Existing Service if, although that Service is not described in a Service Level Agreement, it is a service which a Fund can demonstrate (to the reasonable satisfaction of State Street) has been provided or made available prior to the date of this Agreement by MLIM to one or more of the Funds. 15.3.2 oversight of the performance of the Services; 15.3.3 oversight of the performance by State Street, each Fund and third parties of their duties under the Service Level Agreement; 15.3.4 determining when and where revisions need to be made to this Agreement and to the Service Level Agreement(s) to more adequately meet or address the service requirements of the Funds from time to time; and 15.3.5 determining changes to be made in the Services as a result of changes in any law, rule or regulation applicable to the Funds.