Common use of Performance Calculations Clause in Contracts

Performance Calculations. The Bank will compute the performance ------------------------ results of each Fund (the "Performance Calculations") in accordance with applicable provisions of the 1933 Act and 1940 Act and the rules under such Acts related to the computations to be undertaken by the Bank pursuant to this Agreement, as promulgated by the Securities and Exchange Commission, as such provisions and or rules may be amended from time to time, and any published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such rules or the subject matter thereof ("Subsequent Staff Positions"), subject to the Registration Statement, as amended from time to time, and the terms set forth below: (a) The Bank shall compute the Performance Calculations for each Fund for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the Company. (b) In performing the Performance Calculations, the Bank will derive from the records it generates and maintains for each Fund pursuant Section 11 hereof, the data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the Company, any of the its designated agents or any of its designated third- party providers. (c) At the request of the Bank, the Company shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods pursuant to the rules or any Subsequent Staff Positions as they specifically apply to a Fund, provided that the Bank shall be responsible for general knowledge of such rules and any Subsequent Staff Positions. In the event that the computation methods in a rule or the Subsequent Staff Positions or the application to a Fund of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation that is pertinent to the Fund, the Company or its designated agent, BGFA, shall have the full responsibility for making the determination of how the security, or payment, is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item that is covered by this Section, and the Bank shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (d) The Company shall keep the Bank informed of all publicly available information, and of any non-public advice or information, obtained by the Company from its independent auditors or by its personnel or the personnel of its investment adviser, related to the computations to be undertaken by the Bank pursuant to this Agreement, and the Bank shall not be deemed to have knowledge of such information (except as contained in the Registration Statement) unless it has been furnished to the Bank in writing.; provided that the Bank shall be charged with knowledge of any material changes to the 1933 Act, the 1940 Act, and any related rules under such acts related to the computations to be undertaken by the Bank pursuant to this Agreement without specific notice from the Company.

Performance Calculations. The Bank will compute the performance ------------------------ results of each Fund Master Portfolio (the "Performance Calculations") in accordance with applicable provisions of the 1933 Act and 1940 Act and the rules under such Acts related to the computations to be undertaken by the Bank pursuant to this Agreement, as promulgated by the Securities and Exchange Commission, as such provisions and or rules may be amended from time to time, and any published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such rules or the subject matter thereof ("Subsequent Staff Positions"), subject to the Registration Statement, as amended from time to time, and the terms set forth below: (a) The Bank shall compute the Performance Calculations for each Fund Master Portfolio for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the CompanyTrust. (b) In performing the Performance Calculations, the Bank will derive from the records it generates and maintains for each Fund Master Portfolio pursuant Section 11 hereof, the data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the CompanyTrust, any of the its designated agents or any of its designated third- third-party providers. (c) At the request of the Bank, the Company Trust shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods pursuant to the rules or any Subsequent Staff Positions as they specifically apply to a FundMaster Portfolio, provided that the Bank shall be responsible for general knowledge of such rules and any Subsequent Staff Positions. In the event that the computation methods in a rule or the Subsequent Staff Positions or the application to a Fund Master Portfolio of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation that is pertinent to the FundMaster Portfolio, the Company Trust or its designated agent, BGFA, shall have the full responsibility for making the determination of how the security, or payment, is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item that is covered by this Section, and the Bank shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (d) The Company Trust shall keep the Bank informed of all publicly available information, and of any non-public advice or information, obtained by the Company Trust from its independent auditors or by its personnel or the personnel of its investment adviser, related to the computations to be undertaken by the Bank pursuant to this Agreement, and the Bank shall not be deemed to have knowledge of such information (except as contained in the Registration Statement) unless it has been furnished to the Bank in writing.; provided that the Bank shall be charged with knowledge of any material changes to the 1933 Act, the 1940 Act, and any related rules under such acts related to the computations to be undertaken by the Bank pursuant to this Agreement without specific notice from the CompanyTrust.

Performance Calculations. The Bank will compute the performance ------------------------ results of each Fund Portfolio (the "Performance Calculations") in accordance with applicable provisions of the 1933 Act and 1940 Act and the rules under such Acts related to the computations to be undertaken by the Bank pursuant to this Agreement, as promulgated by the Securities and Exchange Commission, as such provisions and or rules may be amended from time to time, and any published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such rules or the subject matter thereof ("Subsequent Staff Positions"), subject to the Registration Statement, as amended from time to time, and the terms set forth below: (a) The Bank shall compute the Performance Calculations for each Fund Portfolio for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the CompanyTrust. (b) In performing the Performance Calculations, the Bank will derive from the records it generates and maintains for each Fund Portfolio pursuant Section 11 hereof, the data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the CompanyTrust, any of the its designated agents or any of its designated third- third-party providers. (c) At the request of the Bank, the Company Trust shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods pursuant to the rules or any Subsequent Staff Positions as they specifically apply to a FundPortfolio, provided that the Bank shall be responsible for general knowledge of such rules and any Subsequent Staff Positions. In the event that the computation methods in a rule or the Subsequent Staff Positions or the application to a Fund Portfolio of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation that is pertinent to the FundPortfolio, the Company Trust or its designated agent, BGFA, shall have the full responsibility for making the determination of how the security, or payment, is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item that is covered by this Section, and the Bank shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (d) The Company Trust shall keep the Bank informed of all publicly available information, and of any non-public advice or information, obtained by the Company Trust from its independent auditors or by its personnel or the personnel of its investment adviser, related to the computations to be undertaken by the Bank pursuant to this Agreement, and the Bank shall not be deemed to have knowledge of such information (except as contained in the Registration Statement) unless it has been furnished to the Bank in writing.; provided that the Bank shall be charged with knowledge of any material changes to the 1933 Act, the 1940 Act, and any related rules under such acts Acts related to the computations to be undertaken by the Bank pursuant to this Agreement without specific notice from the CompanyTrust.

Performance Calculations. The Bank will compute the performance ------------------------ results of each Fund Master Portfolio (the "Performance Calculations") in accordance with applicable provisions of the 1933 Act and 1940 Act and the rules under such Acts related to the computations to be undertaken by the Bank pursuant to this Agreement, as promulgated by the Securities and Exchange Commission, as such provisions and or rules may be amended from time to time, and any published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such rules or the subject matter thereof ("Subsequent Staff Positions"), subject to the Registration Statement, as amended from time to time, and the terms set forth below: (a) The Bank shall compute the Performance Calculations for each Fund Master Portfolio for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the CompanyTrust. (b) In performing the Performance Calculations, the Bank will derive from the records it generates and maintains for each Fund Master Portfolio pursuant Section 11 hereof, the data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the CompanyTrust, any of the its designated agents or any of its designated third- third-party providers. (c) At the request of the Bank, the Company Trust shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods pursuant to the rules or any Subsequent Staff Positions as they specifically apply to a FundMaster Portfolio, provided that the Bank shall be responsible for general knowledge of such rules and any Subsequent Staff Positions. In the event that the computation methods in a rule or the Subsequent Staff Positions or the application to a Fund Master Portfolio of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation that is pertinent to the FundMaster Portfolio, the Company Trust or its designated agent, BGFA, shall have the full responsibility for making the determination of how the security, or payment, is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item that is covered by this Section, and the Bank shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (d) The Company Trust shall keep the Bank informed of all publicly available information, and of any non-public advice or information, obtained by the Company Trust from its independent auditors or by its personnel or the personnel of its investment adviser, related to the computations to be undertaken by the Bank pursuant to this Agreement, and the Bank shall not be deemed to have knowledge of such information (except as contained in the Registration Statement) unless it has been furnished to the Bank in writing.; provided that the Bank shall be charged with knowledge of any material changes to the 1933 Act, the 1940 Act, and any related rules under such acts related to the computations to be undertaken by the Bank pursuant to this Agreement without specific notice from the CompanyTrust.

Performance Calculations. The Bank will compute the performance ------------------------ results of each Fund (the "Performance Calculations") in accordance with applicable provisions of the 1933 Act and 1940 Act and the rules under such Acts related to the computations to be undertaken by the Bank pursuant to this Agreement, as promulgated by the Securities and Exchange Commission, as such provisions and or rules may be amended from time to time, and any published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such rules or the subject matter thereof ("Subsequent Staff Positions"), subject to the Registration Statement, as amended from time to time, and the terms set forth below: (a) The Bank shall compute the Performance Calculations for each Fund for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to the Company. (b) In performing the Performance Calculations, the Bank will derive from the records it generates and maintains for each Fund pursuant Section 11 hereof, the data necessary for the computation. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by the Company, any of the its designated agents or any of its designated third- party providers. (c) At the request of the Bank, the Company shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods pursuant to the rules or any Subsequent Staff Positions as they specifically apply to a Fund, provided that the Bank shall be responsible for general knowledge of such rules and any Subsequent Staff Positions. In the event that the computation methods in a rule or the Subsequent Staff Positions or the application to a Fund of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation that is pertinent to the Fund, the Company or its designated agent, BGFA, shall have the full responsibility for making the determination of how the security, or payment, is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item that is covered by this Section, and the Bank shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (d) The Company shall keep the Bank informed of all publicly available information, and of any non-public advice or information, obtained by the Company from its independent auditors or by its personnel or the personnel of its investment adviser, related to the computations to be undertaken by the Bank pursuant to this Agreement, and the Bank shall not be deemed to have knowledge of such information (except as contained in the Registration Statement) unless it has been furnished to the Bank in writing.; provided that the Bank shall be charged with knowledge of any material changes to the 1933 Act, the 1940 Act, and any related rules under such acts related to the computations to be undertaken by the Bank pursuant to this Agreement without specific notice from the Company.