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 (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.

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 (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.

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 (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, except to the extent that X.X. Xxxxxx failed to comply with the standards of care set forth in Section 6.1 of the Agreement in providing the Portfolio Compliance Service.

Portfolio Compliance Service. 1. Subject to the timely availability of accurate data, X.X. data J.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. J.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; company and will report its findings to the Customer from time to time as agreed between the parties (the “Portfolio Compliance Service”). 2. X.X. J.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. J.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.

Portfolio Compliance Service. 1. Subject to the timely availability of accurate data, X.X. J.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 Trust and X.X. J.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 Trust from time to time as agreed between the parties (the “Portfolio Compliance Service”). 2. X.X. J.X. Xxxxxx is providing the Portfolio Compliance Service as a reporting service to the Customer Trust to assist it in the oversight of the Funds and is not acting in a fiduciary capacity for the Funds. Accordingly, X.X. J.X. Xxxxxx shall have no liability for any Liabilities (including investment losses) incurred by the Customer Trust or any Fund resulting from the reliance by the Customer Trust (or any other person) on the accuracy or completeness of the Portfolio Compliance Service.