Common use of Portfolio Compliance Monitoring Clause in Contracts

Portfolio Compliance Monitoring. The compliance monitoring of the investments of each Fund with respect to investment restrictions and policies is subject to parameters that may vary over time and which may be beyond the control or knowledge of the Administrator. Consequently, the results of the monitoring as notified by the Administrator to the Adviser are to be considered merely as an indication of possible non-compliance with the investment restrictions and policies of a Fund rather than an affirmative statement as to non-compliance with the investment restrictions and policies. Moreover, the Administrator may not detect a breach and consequently might not notify the Adviser thereof if information or data provided to it is inaccurate, incomplete or ambiguous. The Adviser acknowledges and agrees that each Fund shall remain responsible for complying with laws applicable to its investments, and the services provided by the Administrator in monitoring investment restrictions and policies shall not be deemed to be a delegation of the Fund's responsibility in this regard. In addition, the Adviser agrees that the Administrator shall not be liable for the accuracy or completeness of any information or data that CRD (as defined in Appendix B hereof) or any other compliance system provides in connection with such administrative compliance monitoring on any given date.

Portfolio Compliance Monitoring. The compliance monitoring of the investments of each Fund with respect to investment restrictions and policies is subject to parameters that may vary over time and which may be beyond the control or knowledge of the Administrator. Consequently, the results of the monitoring as notified by the Administrator to the Adviser are to be considered merely as an indication of possible non-compliance with the investment restrictions and policies of a Fund rather than an affirmative statement as to non-compliance with the investment restrictions and policies. Moreover, the Administrator may not detect a breach and consequently might not notify the Adviser thereof if information or data provided to it is inaccurate, incomplete or ambiguous. The Adviser acknowledges and agrees that each Fund shall remain responsible for complying with laws applicable to its investments, and the services provided by the Administrator in monitoring investment restrictions and policies shall not be deemed to be a delegation of the Fund's ’s responsibility in this regard. In addition, the Adviser agrees that the Administrator shall not be liable for the accuracy or completeness of any information or data that CRD (as defined in Appendix B hereof) or any other compliance system provides in connection with such administrative compliance monitoring on any given date.

Portfolio Compliance Monitoring. The compliance monitoring of the investments of each the Fund with respect to investment restrictions and policies is subject to parameters that may vary over time and which may be beyond the control or knowledge of the Administrator. Consequently, the results of the monitoring as notified by the Administrator to the Adviser Fund are to be considered merely as an indication of possible non-compliance with the investment restrictions and policies of a the Fund rather than an affirmative statement as to non-compliance with the investment restrictions and policies. Moreover, the Administrator may not detect a breach and consequently might not notify the Adviser Fund thereof if information or data provided to it is in its possession are inaccurate, incomplete or ambiguous. The Adviser acknowledges and agrees that each Board of Directors of the Fund shall remain fully responsible for complying ensuring compliance of the investments of the Fund with laws applicable to its investments, investment restrictions and policies and the services provided by the Administrator in monitoring investment restrictions and policies shall not be deemed to be a delegation of the Fund's Board’s responsibility in this regardto the Administrator. In addition, the Adviser Fund agrees that the Administrator shall not be liable for the accuracy accuracy, completeness or completeness use of any information or data that CRD (as defined in Appendix B A hereof) or any other compliance system provides used by the Administrator generates in connection with such administrative compliance monitoring on any given date.