Common use of Services on a Continuing Basis Clause in Contracts

Services on a Continuing Basis. (a) In preparing the accounting records of the Fund, PFPC shall comply with generally accepted accounting principles (GAAP) or with an alternative method described in Written Instructions provided that such alternative method is not unreasonable and would not be burdensome to PFPC. PFPC will perform the following accounting services for the Fund on an ongoing or a daily basis, as appropriate, it being understood that the services provided hereunder shall be provided on a per Series basis in a manner that properly identifies the Series as to which such services relate: (1) On a daily basis, journalize the Fund's investment, capital Share and income and expense activities and post to the general ledger; (2) Verify with the Fund's custodians, investment buy/sell trade tickets which may be sent electronically via modem from the Advisor and which may include securities acquired for Fund shares when received from the Advisor, transmit verified trades to the Fund's custodians for proper settlement, and PFPC shall promptly notify the Advisor of any trades received which have not been so verified; (3) Maintain individual ledgers for investment securities; (4) Maintain historical tax lots for each security; (5) Reconcile cash and investment balances with the custodian of each Series, and provide the Advisor with the beginning cash balances available for investment purposes; (6) Update the cash availability and projected receivables/ payables throughout the day as required by the Advisor and direct the custodians to invest idle cash in repurchase agreements and/or in other liquid investments as mutually agreed upon in accordance with the Written Instructions of the Advisor; (7) Post to and prepare the Statement of Assets and Liabilities and the Statement of Operations; (8) Calculate various contractual expenses (e.g., advisory and custody fees) and confirm to the Fund the amounts paid by the Fund in respect of such contracts as provided for therein; (9) Monitor the expense accruals and notify Fund management of any proposed adjustments; (10) Control all disbursements and authorize such disbursements upon Written Instructions; (11) Calculate capital gains and losses; (12) Determine net income; (13) Obtain security market quotes from independent pricing services approved by the Fund, or if such quotes are unavailable, then obtain such prices from, or in accordance with the directions of, the Advisor, and in either case calculate the market value of the Fund's investments; (14) Transmit or mail a copy of the daily portfolio valuations and a listing of acquisitions and dispositions of securities of the Fund and, as of each month-end, transmit or mail a floppy diskette reflecting securities holdings to the Advisor; (15) Consistent with the requirements of the Registration Statement or Written Instructions which change those requirements, compute the net asset values and, where applicable, the offering prices of the Series and promptly report thereon to the transfer agent of each Series; (16) Compute, and report to the Fund, each Series' yields, expense ratios, portfolio turnover rate, and portfolio average dollar-weighted maturity; and (17) Compute amounts of foreign currency needed to settle foreign securities transactions, and in accordance with Written Instructions, enter into forward currency contracts with banks and brokers. (b) In addition to the accounting services described in the foregoing Paragraph 5(a), PFPC will: (1) Prepare monthly financial statements, which will include the following items (the form and content of such statements shall be in accordance with GAAP): Statement of Assets and Liabilities Statement of Shareholders' Equity Statement of Operations Statement of Changes in Net Assets Cash Statement Schedule of Capital Gains and Losses; PFPC will also prepare a Schedule of Investments for those Series and at those times designated by the parties upon mutual agreement (the form and content of such schedule shall be in accordance with GAAP). (2) Prepare quarterly broker security transactions summaries, including monthly reports of brokerage commissions paid setting forth such information as the Fund may reasonably request and as to which the parties may agree; (3) Prepare monthly security transaction listings; (4) Supply various Fund statistical data and reports as requested by the Fund on an ongoing basis including the reports set forth on Schedule A hereto; (5) Prepare for execution and file the Fund's Federal and state income tax returns, Federal Excise Tax returns, tax returns for the States of Delaware and California and any supporting schedules to such returns and assist the Fund in determining the amount, types and timing of dividend and capital gains distributions necessary for each Series to avoid being required to pay Federal Income or Excise taxes on its income and gains; (6) Assist in the preparation of and file the Fund's Semi-Annual Reports with the SEC on Form N-SAR; (7) Assist in the preparation of and file with the SEC the Fund's annual and semi-annual Shareholder reports; (8) Assist in the preparation of registration statements on Form N-1A and other filings relating to the registration of the Fund; (9) Monitor each Series' status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and if there is a change in such status, alert the Fund as soon as practicable of such change; (10) In the event that any securities transaction of the Fund fails to settle in accordance with Written or Oral Instructions, PFPC shall promptly notify the Fund; and (11) Monitor each Series' securities positions to determine whether, with respect to 75 percent of the value of each Series' total assets, more than 5 percent of the value of each Series' total assets are invested in any one issuer and, if so, alert the Fund as soon as practicable of such circumstances.

Services on a Continuing Basis. (a) In preparing the accounting records of the Fund, PFPC shall comply with generally accepted accounting principles (GAAP) or with an alternative method described in Written Instructions provided that such alternative method is not unreasonable and would not be burdensome to PFPC. PFPC will perform the following accounting services for the Fund on an ongoing or a daily basis, as appropriate, it being understood that the services provided hereunder shall be provided on a per Series Portfolio basis in a manner that properly identifies the Series Portfolio as to which such services relate: (1) On a daily basis, journalize the Fund's investment, capital Share share and income and expense activities and post to the general ledger; (2) Verify with the Fund's custodianscustodian, investment buy/sell trade tickets which may be sent electronically via modem from the Advisor or a designated Sub-Advisor, and which may include securities acquired for Fund shares when received from the Advisor or any Sub-Advisor designated in writing by the Advisor, transmit verified trades to the Fund's custodians custodian for proper settlement, and PFPC shall promptly notify the Advisor or Sub-Advisor (as appropriate) of any trades received which have not been so verified; (3) Maintain individual ledgers for investment securities; (4) Maintain historical tax lots for each security; (5) Reconcile cash and investment balances with the custodian of each Seriescustodian, and provide the Advisor and any Sub-Advisor designated by the Advisor with the beginning cash balances available for investment purposes; (6) Update the cash availability and projected receivables/ receivables/payables throughout the day as required by the Advisor and any Sub-Advisor designated in writing by the Advisor and direct the custodians custodian to invest idle cash in repurchase agreements agreements, and/or registered investment companies, and/or in other liquid investments as mutually agreed upon in accordance with the Written Instructions of the Advisor or such Sub-Advisor; (7) Post to and prepare the Statement of Assets and Liabilities and the Statement of Operations; (8) Calculate various contractual expenses (e.g., advisory and custody fees) and confirm to the Fund the amounts paid by the Fund in respect of such contracts as provided for therein; (9) Monitor the expense accruals and notify Fund management of any proposed adjustments; (10) Control all disbursements and authorize such disbursements upon Written Instructions; (11) Calculate capital gains and losses; (12) Determine net income; (13) Obtain security market quotes and foreign currency exchange rates from independent pricing services approved by the Fund, or if such quotes are unavailable, then obtain such prices from, or in accordance with the directions of, the Advisor or a Sub-Advisor, and in either case calculate the market value of the Fund's investments; (14) Transmit or mail a copy of the daily portfolio valuations and a listing of acquisitions and dispositions of securities of the Fund and, as of each month-end, transmit or mail a floppy diskette reflecting securities holdings to the AdvisorAdvisor and any Sub-Advisor designated by the Advisor hereunder; (15) Consistent with the requirements of the Registration Statement prospectus dated April 9, 1989 or Written Instructions which change those requirements, compute the net asset values and, where applicable, the public offering prices of the Series Portfolios and promptly report thereon to NASDAQ and the transfer agent of each Seriescustodian; (16) Compute, and report to the Fund, each Series' Portfolio's yields, total return, expense ratios, portfolio turnover rate, and and, portfolio average dollar-weighted maturity; and (17) Compute amounts of foreign currency needed to settle foreign securities transactions, and in accordance with Written Instructions, enter into forward currency contracts with banks and brokers. (b) In addition to the accounting services described in the foregoing Paragraph 5(a), PFPC will: (1) Prepare monthly financial statements, which will include the following items (the form and content of such statements shall be in accordance with GAAPgenerally accepted accounting principles): Schedule of Investments Statement of Assets and Liabilities Statement of Shareholders' Equity Statement of Operations Statement of Changes in Net Assets Cash Statement Schedule of Capital Gains and Losses; PFPC will also prepare a Schedule of Investments for those Series and at those times designated by the parties upon mutual agreement (the form and content of such schedule shall be in accordance with GAAP).; (2) Prepare quarterly broker security transactions summaries, including monthly reports of brokerage commissions paid setting forth such information as the Fund may reasonably request and as to which the parties may agree; (3) Prepare monthly security transaction listings; (4) Supply various Fund statistical data and reports as requested by the Fund on an ongoing basis including the reports set forth on Schedule A hereto; (5) Prepare for execution and file the Fund's Federal and state income tax returns, Federal Excise Tax returns, tax returns for the States of Delaware Maryland and California and any supporting schedules to such returns and assist the Fund in determining the amount, types and timing of dividend and capital gains distributions necessary for each Series Portfolio to avoid being required to pay Federal Income or Excise taxes on its income and gains; (6) Assist in the preparation of and file the Fund's ' s Semi-Annual Reports with the SEC on Form N-SAR; (7) Assist in the preparation of and file with the SEC the Fund's annual and annual, semi-annual annual, and quarterly Shareholder reports; (8) Assist in the preparation of registration statements Statements on Form N-1A N-lA and other filings relating to the registration of the FundShares; (9) Monitor and report monthly to the Fund's Board each Series' Portfolio's status as a regulated investment company under Subchapter Sub-chapter M of the Internal Revenue Code of 1986, as amended, and if there is a change in such status, alert the Fund as soon as practicable of such change; (10) In the event that any securities transaction of the Fund Covered Portfolios, as defined in the Custodian Agreement, fails to settle in accordance with Written or Oral Instructions, PFPC shall promptly notify the Fund; and (11) Monitor each Series' securities positions to determine whether, with respect to 75 percent of the value of each Series' total assets, more than 5 percent of the value of each Series' total assets are invested in any one issuer and, if so, alert the Fund as soon as practicable of such circumstances.Advisor or Sub-Advisor;

Services on a Continuing Basis. (a) In preparing the accounting records of the Fund, PFPC shall comply with generally accepted accounting principles (GAAP) or with an alternative method described in Written Instructions provided that such alternative method is not unreasonable and would not be burdensome to PFPC. PFPC will perform the following accounting services for the Fund on an ongoing or a daily basis, as appropriate, it being understood that the services provided hereunder shall be provided on a per Series basis in a manner that properly identifies the Series as to which such services relate: (1) On a daily basis, journalize the Fund's investment, capital Share and income and expense activities and post to the general ledger; (2) Verify with the Fund's custodianscustodian(s), investment buy/sell trade tickets which may be sent electronically via modem from the Advisor and which may include securities acquired for Fund shares when received from the Advisor, transmit verified trades to the Fund's custodians custodian(s) for proper settlement, and PFPC shall promptly notify the Advisor of any trades received which have not been so verified; (3) Maintain individual ledgers for investment securities; (4) Maintain historical tax lots for each security; (5) Reconcile cash and investment balances with the custodian of each Seriescustodian, and provide the Advisor with the beginning cash balances available for investment purposes; (6) Update the cash availability and projected receivables/ receivables/payables throughout the day as required by the Advisor and direct the custodians custodian(s) to invest idle cash in repurchase agreements and/or in other liquid investments as mutually agreed upon in accordance with the Written Instructions of the Advisor; (7) Post to and prepare the Statement of Assets and Liabilities and the Statement of Operations; (8) Calculate various contractual expenses (e.g., advisory and custody fees) and confirm to the Fund the amounts paid by the Fund in respect of such contracts as provided for therein; (9) Monitor the expense accruals and notify Fund management of any proposed adjustments; (10) Control all disbursements and authorize such disbursements upon Written Instructions; (11) Calculate capital gains and losses; (12) Determine net income; (13) ; Obtain security market quotes from independent pricing services approved by the Fund, or if such quotes are unavailable, then obtain such prices from, or in accordance with the directions of, the Advisor, and in either case calculate the market value of the Fund's investments; (14) Transmit or mail a copy of the daily portfolio valuations and a listing of acquisitions and dispositions of securities of the Fund and, as of each month-end, transmit or mail a floppy diskette reflecting securities holdings to the Advisor; (15) Consistent with the requirements of the Registration Statement or Written Instructions which change those requirements, compute the net asset values and, where applicable, the public offering prices of the Series and promptly report thereon to the transfer agent custodian of each Series; (16) Compute, and report to the Fund, each Series' yields, expense ratios, portfolio turnover rate, and and, portfolio average dollar-weighted maturity; and (17) Compute amounts of foreign currency needed to settle foreign securities transactions, and in accordance with Written Instructions, enter into forward currency contracts with banks and brokers. (b) In addition to the accounting services described in the foregoing Paragraph 5(a), PFPC will: (1) Prepare monthly financial statements, which will include the following items (the form and content of such statements shall be in accordance with GAAP): Schedule of Investments (as requested) Statement of Assets and Liabilities Statement of Shareholders' Equity Statement of Operations Statement of Changes in Net Assets Cash Statement Schedule of Capital Gains and Losses; PFPC will also prepare a Schedule of Investments for those Series and at those times designated by the parties upon mutual agreement (the form and content of such schedule shall be in accordance with GAAP). (2) Prepare quarterly broker security transactions summaries, including monthly reports of brokerage commissions paid setting forth such information as the Fund may reasonably request and as to which the parties may agree; (3) Prepare monthly security transaction listings; (4) Supply various Fund statistical data and reports as requested by the Fund on an ongoing basis including the reports set forth on Schedule A hereto; (5) Prepare for execution and file the Fund's Federal and state income tax returns, Federal Excise Tax returns, tax returns for the States of Delaware and California and any supporting schedules to such returns and assist the Fund in determining the amount, types and timing of dividend and capital gains distributions necessary for each Series to avoid being required to pay Federal Income or Excise taxes on its income and gains; (6) Assist in the preparation of and file the Fund's Semi-Annual Reports with the SEC on Form N-SAR; (7) Assist in the preparation of and file with the SEC the Fund's annual and semi-annual Shareholder reports; (8) Assist in the preparation of registration statements on Form N-1A and other filings relating to the registration of the Fund; (9) Monitor each Series' status as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and if there is a change in such status, alert the Fund as soon as practicable of such change; (10) In the event that any securities transaction of the Fund fails to settle in accordance with Written or Oral Instructions, PFPC shall promptly notify the Fund; and (11) Monitor each Series' securities positions to determine whether, with respect to 75 percent of the value of each Series' total assets, more than 5 percent of the value of each Series' total assets are invested in any one issuer and, if so, alert the Fund as soon as practicable of such circumstances.

Services on a Continuing Basis. (a) In preparing the accounting records of the Fund, PFPC shall comply with generally accepted accounting principles (GAAP) or with an alternative method described in Written Instructions provided that such alternative method is not unreasonable and would not be burdensome to PFPC. PFPC will perform the following accounting services for the Fund on an ongoing or a daily basis, as appropriate, it being understood that the services provided hereunder shall be provided on a per Series Portfolio basis in a manner that properly identifies the Series Portfolio as to which such services relate: (1) On a daily basis, journalize the Fund's investment, capital Share and income and expense activities and post to the general ledger; (2) Verify with the Fund's custodianscustodian, investment buy/sell trade tickets which may be sent electronically via modem from the Advisor Fund and which may include securities acquired for Fund shares when received from the Advisor, Fund transmit verified trades to the Fund's custodians custodian for proper settlement, and PFPC shall promptly notify the Advisor Fund of any trades received which have not been so verified; (3) Maintain individual ledgers for investment securities; (4) Maintain historical tax lots for each security; (5) Reconcile cash and investment balances with the custodian of each Seriescustodian, and provide the Advisor Fund with the beginning cash balances available for investment purposes; (6) Update the cash availability and projected receivables/ receivables/payables throughout the day as required by the Advisor Fund and direct the custodians custodian to invest idle cash in repurchase agreements agreements, and/or registered investment companies, and/or in other liquid investments as mutually agreed upon in accordance with the Written Instructions of the Advisor;Fund. (7) Post to and prepare the Statement of Assets and Liabilities and the Statement of Operations; (8) Calculate various contractual expenses (e.g., advisory and custody fees) and confirm to the Fund the amounts paid by the Fund in respect of such contracts as provided for therein; (9) Monitor the expense accruals and notify Fund management of any proposed adjustments; (10) Control all disbursements and authorize such disbursements upon Written Instructions; (11) Calculate capital gains and losses; (12) Determine net income; (13) Obtain security market quotes from independent pricing services approved by the Fund, or if such quotes are unavailable, then obtain such prices from, or in accordance with the directions of, the AdvisorFund, and in either case calculate the market value of the Fund's investments; (14) Transmit or mail a copy of the daily portfolio valuations and a listing of acquisitions and dispositions of securities of the Fund and, as of each month-end, transmit or mail a floppy diskette reflecting securities holdings to the AdvisorFund; (15) Consistent with the requirements of the Registration Statement prospectus dated May 14, 1991 or Written Instructions which change those requirements, compute the net asset values and, where applicable, the public offering prices of the Series Portfolios and promptly report thereon to NASDAQ and the transfer agent of each Series;custodian; 8 (16) Compute, and report to the Fund, each Series' Portfolio's yields, total return, expense ratios, portfolio turnover rate, and and, portfolio average dollar-weighted maturity; and (17) Compute amounts of foreign currency needed to settle foreign securities transactions, and in accordance with Written Instructions, enter into forward currency contracts with banks and brokers. (b) In addition to the accounting services described in the foregoing Paragraph 5(a), PFPC will: (1) Prepare monthly financial statements, which will include the following items (the form and content of such statements shall be in accordance with GAAPgenerally accepted accounting principles): Schedule of Investments Statement of Assets and Liabilities Statement of Shareholders' Equity Statement of Operations Statement of Changes in Net Assets Cash Statement Schedule of Capital Gains and Losses; PFPC will also prepare a Schedule of Investments for those Series and at those times designated by the parties upon mutual agreement (the form and content of such schedule shall be in accordance with GAAP).; (2) Prepare quarterly broker security transactions summaries, including monthly reports of brokerage commissions paid setting forth such information as the Fund may reasonably request and as to which the parties may agree; ; (3) Prepare monthly security transaction listings; (4) Supply various Fund statistical data and reports as requested by the Fund on an ongoing basis including the reports set forth on Schedule A hereto; (5) Prepare for execution and file the Fund's Federal and state income tax returns, Federal Excise Tax returns, tax returns for the States of Delaware Maryland and California and any supporting schedules to such returns and assist the Fund in determining the amount, types and timing of dividend and capital gains distributions necessary for each Series Portfolio to avoid being required to pay Federal Income or Excise taxes on its income and gains; (6) Assist in the preparation of and file the Fund's Semi-Annual Reports with the SEC on Form N-SAR; (7) Assist in the preparation of and file with the SEC the Fund's annual and annual, semi-annual annual, and quarterly Shareholder reports; (8) Assist in the preparation of registration statements on Form N-1A N-lA and other filings relating to the registration of the FundShares; (9) Monitor and report monthly to the Fund's Board each Series' Portfolio's status as a regulated investment company under Subchapter Sub-chapter M of the Internal Revenue Code of 1986, as amended, and if there is a change in such status, alert the Fund as soon as practicable of such change; (10) In the event that any securities transaction of the Fund fails to settle in accordance with Written or Oral Instructions, PFPC shall promptly notify the Fund; and (11) Monitor each Series' Portfolio's securities positions to determine whether, with respect to 75 percent of the value of each Series' Portfolio's total assets, more than 5 percent of the value of each Series' Portfolio's total assets are invested in any one issuer and, if so, alert the Fund as soon as practicable of such circumstances.