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 that are directed by the Customer and are within X.X. Xxxxxx’x product capability to track, in a manner reasonably acceptable to X.X. Xxxxxx; (ii) on a quarterly basis with respect to the requirements of Section 817(h) of the Internal Revenue Code and applicable Treasury Regulations; (iii) 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 directed by Customer (the “Portfolio Compliance Service”). The Customer shall assist X.X. Xxxxxx in the testing and sign-off of the set-up of the restrictions and requirements incorporated into X.X. Xxxxxx’x systems.

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 that are directed by the Customer and are within X.X. J.X. Xxxxxx’x product capability to track, in a manner reasonably acceptable to X.X. J.X. Xxxxxx; (ii) on a quarterly basis with respect to the requirements of Section 817(h) of the Internal Revenue Code and applicable Treasury Regulations; (iii) 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 directed by Customer (the “Portfolio Compliance Service”). The Customer shall assist X.X. J.X. Xxxxxx in the testing and sign-off of the set-up of the restrictions and requirements incorporated into X.X. J.X. Xxxxxx’x systems.