Common use of Statement of Assets and Liabilities and Statement of Operations Clause in Contracts

Statement of Assets and Liabilities and Statement of Operations. t Calculate expenses payable pursuant to the Trust’s various contractual obligations. t Control all disbursements from the Trust on behalf of each Portfolio and authorize such disbursements upon instructions of the Trust. t Calculate capital gains and losses. t Determine each Portfolio's net income. t At the Portfolio's expense, obtain security market prices or if such market prices are not readily available, then obtain such prices from services approved by the advisor, and in either case calculate the market or fair value of each Portfolio's investments. t Where applicable, calculate the amortized cost value of debt instruments. t Transmit or mail a copy of the portfolio valuations to the advisor.