Common use of Valuation of Securities Clause in Contracts

Valuation of Securities. The Administrator shall ensure that the value of the Fund’s securities is computed in accordance with governing law, rules and regulations, the Fund’s governing instruments and subject to the oversight and direction of the Fund’s Trustees. The Administrator shall oversee the use of one or more external pricing services (at the separate expense of the Funds) to provide the value of a Fund’s securities, including broker/dealers, provided that the Fund’s Trustees or a committee or an individual designated by the Fund’s Trustees has approved the use of such pricing services. The Administrator shall administer the Valuation Policies approved by the Trustees for the Fund, including the implementation and application of fair valuation methods and security valuation factors for applicable securities and other assets, including those provided by third-party service providers at the expense of the Funds, and provide such reports to the Fund’s Trustees or a committee thereof as is required by such Policies or otherwise requested.

Valuation of Securities. The Administrator shall ensure that the value of the Fund’s 's securities is computed in accordance with governing law, rules and regulations, the Fund’s 's governing instruments and subject to the oversight and direction of the Fund’s 's Trustees. The Administrator shall oversee the use of one or more external pricing services (at the separate expense of the Funds) to provide the value of a Fund’s 's securities, including broker/dealers, provided that the Fund’s 's Trustees or a committee or an individual designated by the Fund’s 's Trustees has approved the use of such pricing services. The Administrator shall administer the Valuation Policies approved by the Trustees for the Fund, including the implementation and application of fair valuation methods and security valuation factors for applicable securities and other assets, including those provided by third-party service providers at the expense of the Funds, and provide such reports to the Fund’s 's Trustees or a committee thereof as is required by such Policies or otherwise requested.