Common use of Reports to the Trust; Escalation Clause in Contracts

Reports to the Trust; Escalation. A. The CCO shall make regular reports to the Trust regarding its administration and enforcement of the Compliance Program. These regular reports shall address compliance by the Trust and the Service Providers and such other matters as the Trust may reasonably request. B. In addition, at least annually, the CCO shall submit a written report to the Trust addressing the following issues: 1. the operation of the Compliance Program, and the written compliance policies and procedures of the Service Providers; 2. any material changes made to the Compliance Program since the date of the last report; 3. any material changes to the Compliance Program recommended as a result of the Annual Review; and 4. each “Material Compliance Matter” that occurred since the date of the last report.2 C. In the event that the CCO reports a Material Compliance Matter and is not reasonably satisfied with the Trust’s efforts to address and remedy the same, the CCO shall report such Material Compliance Matter to the Trustees.

Reports to the Trust; Escalation. A. The CCO shall make regular reports to the Trust regarding its administration and enforcement of the Compliance Program. These regular reports shall address compliance by the Trust and the Service Providers and such other matters as the Trust may reasonably request. B. In addition, at least annually, the CCO shall submit a written report to the Trust addressing the following issues: 1. the operation of the Compliance Program, and the written compliance policies and procedures of the Service Providers; 2. any material changes made to the Compliance Program since the date of the last report; 3. any material changes to the Compliance Program recommended as a result of the Annual Review; and 4. each “Material Compliance Matter” that occurred since the date of the last report.2report. 2 C. In the event that the CCO reports a Material Compliance Matter and is not reasonably satisfied with the Trust’s efforts to address and remedy the same, the CCO shall report such Material Compliance Matter to the Trustees.