Common use of Politically Exposed Persons Clause in Contracts

Politically Exposed Persons. “PEPS”). The Transfer Agent on behalf of the Fund will maintain risk-based written policies and procedures to reasonably ascertain the status of an individual as a PEP. On a daily basis, the Transfer Agent will submit all new customer account registrations and registration changes against the PEPS database and conduct a risk-based review of accounts held by a PEP. The Transfer Agent will promptly notify the Fund of potential high-dollar or high-risk direct matches to the PEPS database to determine if additional action is required.