Common use of Portfolio Compliance Service Clause in Contracts

Portfolio Compliance Service. 1. Subject to the timely availability of accurate data, X.X. Xxxxxx will perform testing of the Fund’s portfolio compliance: (i) on a daily basis with respect to such investment restrictions and other regulatory requirements as are agreed in writing by the Customer and X.X. Xxxxxx; (ii) on a quarterly basis with respect to the requirements of Section 851 of the Internal Revenue Code and applicable Treasury Regulations for qualification as a regulated investment company; and will report its findings to the Customer from time to time as agreed between the parties, including at least on quarterly basis in connection with Board meetings (the “Portfolio Compliance Service”). 2. X.X. Xxxxxx is providing the Portfolio Compliance Service as a reporting service to the Customer to assist it in the oversight of the Funds and is not acting in a fiduciary capacity for the Funds. Accordingly, X.X. Xxxxxx shall have no liability for any Liabilities (including investment losses) incurred by the Customer or any Fund resulting from the reliance by the Customer (or any other person) on the accuracy or completeness of the Portfolio Compliance Service unless as result of negligence, fraud or willful misconduct of X.X. Xxxxxx or its affiliates or sub-contractors. For avoidance of doubt, X.X. Xxxxxx’x Portfolio Compliance Services will include the following: (i) Prepare quarterly reports listing any known material compliance violations that occurred; (ii) Monitor and test each Fund’s compliance with such investment restrictions and other regulatory requirements, as may be agreed to among the Funds’ investment adviser, X.X. Xxxxxx and each Fund as necessary to meet industry regulations (e.g., issuer or industry diversification, etc.); (iii) Prepare brokerage commission reports for review by the Funds’ investment adviser; (iv) Provide access to compliance records and compliance tracking systems; (v) Develop, maintain, and monitor a compliance calendar for the Trust; and (vi) Assist in monitoring best execution by providing quarterly brokerage commission.

Portfolio Compliance Service. 1. Subject to the timely availability of accurate data, X.X. Xxxxxx will perform testing of the Fund’s portfolio compliance: (i) on a daily basis with respect to such investment restrictions and other regulatory requirements as are agreed in writing by the Customer and X.X. Xxxxxx;. (ii) on a quarterly basis with respect to the requirements of Section 851 of the Internal Revenue Code and applicable Treasury Regulations for qualification as a regulated investment company; and will report its findings to the Customer from time to time as agreed between the parties, including at least on quarterly basis in connection with Board meetings (the “Portfolio Compliance Service”). 2. X.X. Xxxxxx is providing the Portfolio Compliance Service as a reporting service to the Customer to assist it in the oversight of the Funds and is not acting in a fiduciary capacity for the Funds. Accordingly, X.X. Xxxxxx shall have no liability for any Liabilities (including investment losses) incurred by the Customer or any Fund resulting from the reliance by the Customer (or any other person) on the accuracy or completeness of the Portfolio Compliance Service unless as result of negligence, fraud or willful misconduct of X.X. Xxxxxx or its affiliates or sub-contractors. For avoidance of doubt, X.X. Xxxxxx’x Portfolio Compliance Services will include the following: (i) Prepare quarterly reports listing any known material compliance violations that occurred; (ii) Monitor and test each Fund’s compliance with such investment restrictions and other regulatory requirements, as may be agreed to among the Funds’ investment adviser, X.X. Xxxxxx and each Fund as necessary to meet industry regulations (e.g., issuer or industry diversification, etc.); (iii) Prepare brokerage commission reports for review by the Funds’ investment adviser; (iv) Provide access to compliance records and compliance tracking systems; (v) Develop, maintain, and monitor a compliance calendar for the Trust; and; (vi) Assist in monitoring best execution by providing quarterly brokerage commission.

Portfolio Compliance Service. 1. Subject to the timely availability of accurate data, X.X. Xxxxxx will perform testing of the Fund’s portfolio compliance: (i) on a daily basis with respect to such investment restrictions and other regulatory requirements as are agreed in writing by the Customer and X.X. Xxxxxx; (ii) on a quarterly basis with respect to the requirements of Section 851 of the Internal Revenue Code and applicable Treasury Regulations for qualification as a regulated investment company; and will report its findings to the Customer from time to time as agreed between the parties, including at least on quarterly basis in connection with Board meetings (the “Portfolio Compliance Service”). 2. X.X. Xxxxxx is providing the Portfolio Compliance Service as a reporting service to the Customer to assist it in the oversight of the Funds and is not acting in a fiduciary capacity for the Funds. Accordingly, X.X. Xxxxxx shall have no liability for any Liabilities (including investment losses) incurred by the Customer or any Fund resulting from the reliance by the Customer (or any other person) on the accuracy or completeness of the Portfolio Compliance Service unless as result of negligence, fraud or willful misconduct of X.X. Xxxxxx or its affiliates or sub-contractors. For avoidance of doubt, X.X. Xxxxxx’x Portfolio Compliance Services will include the following: (i) Prepare quarterly reports listing any known material compliance violations that occurred; (ii) Monitor and test each Fund’s compliance with such investment restrictions and other regulatory requirements, as may be agreed to among the Funds’ investment adviser, X.X. Xxxxxx and each Fund as necessary to meet industry regulations (e.g., issuer or industry diversification, etc.); (iii) Prepare brokerage commission reports for review by the Funds’ investment adviser; (iv) Provide access to compliance records and compliance tracking systems; (v) Develop, maintain, and monitor a compliance calendar for the Trust; and (vi) Assist in monitoring best execution by providing quarterly brokerage commission.