Common use of Yield Calculation Clause in Contracts

Yield Calculation. The Bank will compute the performance results of the Portfolios (the "Yield Calculation") in accordance with the provisions of Release No. 33-6753 and Release No. IC- 16245 (February 2, 1988) (the "Releases") promulgated by the Securities and Exchange Commission, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such releases or the subject matter thereof ("Subsequent Staff Positions"), and as may be defined in the Funds' prospectuses and statements of additional information, subject to the terms set forth below: (i) The Bank shall compute the Yield Calculation for each Portfolio for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to NYLIM. (ii) In performing the Yield Calculation for a Portfolio, the Bank will derive the items of data necessary for the computation from the records it generates and maintains for the Portfolio pursuant Section 16 hereof. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by NYLIM, the Fund, any of the Fund's designated agents or any of the Fund's designated third party providers. (iii) At the request of the Bank, a Fund shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to a Portfolio. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to a Portfolio of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, NYLIM, the Fund or any of the Fund's designated agents shall have the full responsibility for making the determination of how the security or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (iv) NYLIM shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Yield Calculation. The Bank will compute the performance results of the Portfolios Trust (the "Yield Calculation") in accordance with the provisions of Release No. 33-6753 and Release No. IC- 16245 IC-16245 (February 2, 1988) (the "Releases") promulgated by the Securities and Exchange Commission, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such releases or the subject matter thereof ("Subsequent Staff Positions"), and as may be defined in the Funds' prospectuses and statements of additional information, subject to the terms set forth below: (ia) The Bank shall compute the Yield Calculation for each Portfolio the Trust for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to NYLIMthe Trust. (iib) In performing the Yield Calculation for a PortfolioCalculation, the Bank will derive the items of data necessary for the computation from the records it generates and maintains for the Portfolio Trust pursuant Section 16 11 hereof. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by NYLIM, the FundTrust, any of the FundTrust's designated agents or any of the FundTrust's designated third party providers. (iiic) At the request of the Bank, a Fund the Trust shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to a Portfoliothe Trust. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to a Portfolio the Trust of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, NYLIMTrust, the Fund Trust or any of the Fund's its designated agents agent shall have the full responsibility for making the determination of how the security or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (ivd) NYLIM The Trust shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund Trust from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Yield Calculation. The Bank will compute the performance results of the Portfolios (the "“Yield Calculation"”) in accordance with the provisions of Release No. 33-6753 and Release No. IC- 16245 IC-16245 (February 2, 1988) (the "“Releases"”) promulgated by the Securities and Exchange Commission, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such releases or the subject matter thereof ("“Subsequent Staff Positions"”), and as may be defined in the Funds' ’ prospectuses and statements of additional information, subject to the terms set forth below: (i) The Bank shall compute the Yield Calculation for each Portfolio for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to NYLIM. (ii) In performing the Yield Calculation for a Portfolio, the Bank will derive the items of data necessary for the computation from the records it generates and maintains for the Portfolio pursuant Section 16 hereof. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by NYLIM, the Fund, any of the Fund's ’s designated agents or any of the Fund's ’s designated third party providers. (iii) At the request of the Bank, a Fund shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to a Portfolio. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to a Portfolio of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, NYLIM, the Fund or any of the Fund's ’s designated agents shall have the full responsibility for making the determination of how the security or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (iv) NYLIM shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Yield Calculation. The Bank will compute the performance results of the Portfolios each Portfolio (the "Yield Calculation") in accordance with the provisions of Release No. 33-6753 and Release No. IC- 16245 IC-16245 (February 2, 1988) (the "Releases") promulgated by the Securities and Exchange CommissionSEC, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission SEC with respect to such releases or the subject matter thereof ("Subsequent Staff Positions"), and as may be defined in the Funds' prospectuses and statements of additional information, subject to the terms set forth below: (ia) The Bank shall compute the Yield Calculation for each Portfolio for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to NYLIMthe Portfolio. (iib) In performing the Yield Calculation for a PortfolioCalculation, the Bank will derive the items of data necessary for the computation from the records it generates and maintains for the each Portfolio pursuant Section 16 11 hereof. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by NYLIM, the Funda Portfolio, any of the Fundsuch Portfolio's designated agents or any of the Fund's designated third party providers. (iiic) At the request of the Bank, a the Fund shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to a each Portfolio. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to a Portfolio of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, NYLIMsuch Portfolio, the Fund or any of the Fund's its designated agents agent shall have the full responsibility for making the determination of how the security or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (ivd) NYLIM The Fund shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Yield Calculation. The Bank will compute the performance results ----------------- of the Portfolios Fund (the "Yield Calculation") in accordance with the provisions of Release No. 33-6753 and Release No. IC- 16245 IC-16245 (February 2, 1988) (the "Releases") promulgated by the Securities and Exchange Commission, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such releases or the subject matter thereof ("Subsequent Staff Positions"), and as may be defined in the Funds' prospectuses and statements of additional information, subject to the terms set forth below: (ia) The Bank shall compute the Yield Calculation for each Portfolio the Fund for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to NYLIMthe Fund. (iib) In performing the Yield Calculation for a PortfolioCalculation, the Bank will derive the items of data necessary for the computation from the records it generates and maintains for the Portfolio Fund pursuant Section 16 11 hereof. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by NYLIM, the Fund, any of the Fund's designated agents or any of the Fund's designated third party providers, provided, however, the Bank shall promptly notify the Fund if the Bank becomes aware that such data is, or may be, inaccurate or incorrect. (iiic) At the request of the Bank, a the Fund shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to a Portfoliothe Fund. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to a Portfolio the Fund of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, NYLIM, the Fund or any of the Fund's its designated agents agent shall have the full responsibility for making the determination of how the security or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as absent negligence, bad faith and willful misconduct by the Bank in the performance of such computations are mathematically correctcomputations. (ivd) NYLIM The Fund shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such non-public information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Yield Calculation. The Bank will compute the performance results of the Portfolios Funds (the "Yield Calculation") in accordance with the provisions of Release No. 33-6753 and Release No. IC- 16245 IC-16245 (February 2, 1988) (the "Releases") promulgated by the Securities and Exchange Commission, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such releases or the subject matter thereof ("Subsequent Staff Positions"), and as may be defined in the Funds' prospectuses and statements of additional information, subject to the terms set forth below: (ia) The Bank shall compute the Yield Calculation for each Portfolio the Funds for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to NYLIMthe Trust. (iib) In performing the Yield Calculation for a PortfolioCalculation, the Bank will derive the items of data necessary for the computation from the records it generates and maintains for the Portfolio Trust pursuant Section 16 11 hereof. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by NYLIM, the FundTrust, any of the FundTrust's designated agents or any of the FundTrust's designated third party providers. (iiic) At the request of the Bank, a Fund the Trust shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to a Portfoliothe Trust. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to a Portfolio the Trust of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, NYLIMTrust, the Fund Trust or any of the Fund's its designated agents agent shall have the full responsibility for making the determination of how the security or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (ivd) NYLIM The Trust shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund Trust from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Yield Calculation. The Bank will compute the performance results of the Portfolios Funds (the "“Yield Calculation"”) in accordance with the provisions of Release No. 33-6753 and Release No. IC- 16245 IC-16245 (February 2, 1988) (the "“Releases"”) promulgated by the Securities and Exchange Commission, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such releases or the subject matter thereof ("“Subsequent Staff Positions"”), and as may be defined in the Funds' prospectuses and statements of additional information, subject to the terms set forth below: (ia) The Bank shall compute the Yield Calculation for each Portfolio the Funds for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to NYLIMthe Trust. (iib) In performing the Yield Calculation for a PortfolioCalculation, the Bank will derive the items of data necessary for the computation from the records it generates and maintains for the Portfolio Trust pursuant Section 16 11 hereof. The Bank shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by NYLIM, the FundTrust, any of the Fund's Trust’s designated agents or any of the Fund's Trust’s designated third party providers. (iiic) At the request of the Bank, a Fund the Trust shall provide, and the Bank shall be entitled to rely on, written standards and guidelines to be followed by the Bank in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to a Portfoliothe Trust. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to a Portfolio the Trust of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, NYLIMTrust, the Fund Trust or any of the Fund's its designated agents agent shall have the full responsibility for making the determination of how the security or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank thereof on a timely basis. The Bank shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct. (ivd) NYLIM The Trust shall keep the Bank informed of all publicly available information and of any non-public advice, or information obtained by the Fund Trust from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions related to the computations to be undertaken by the Bank pursuant to this Agreement and the Bank shall not be deemed to have knowledge of such information (except as contained in the Releases) unless it has been furnished to the Bank in writing.

Yield Calculation. The Bank IBT will compute the performance results of the Portfolios Trust (the "Yield Calculation") in accordance with the provisions of Release No. 33-6753 and Release No. IC- 16245 IC-16245 (February 2, 1988) (the "Releases") promulgated by the Securities and Exchange Commission, and any subsequent amendments to, published interpretations of or general conventions accepted by the staff of the Securities and Exchange Commission with respect to such releases or the subject matter thereof ("Subsequent Staff Positions"), and as may be defined in the Funds' prospectuses and statements of additional information, subject to the terms set forth below: (ia) The Bank IBT shall compute the Yield Calculation for each Portfolio the Trust for the stated periods of time as shall be mutually agreed upon, and communicate in a timely manner the result of such computation to NYLIMthe Trust. (iib) In performing the Yield Calculation for a PortfolioCalculation, the Bank IBT will derive the items of data necessary for the computation from the records it generates and maintains for the Portfolio Trust pursuant Section 16 11 hereof. The Bank IBT shall have no responsibility to review, confirm, or otherwise assume any duty or liability with respect to the accuracy or correctness of any such data supplied to it by NYLIM, the FundTrust, any of the FundTrust's designated agents or any of the FundTrust's designated third party providers. (iiic) At the request of IBT, the Bank, a Fund Trust shall provide, and the Bank IBT shall be entitled to rely on, written standards and guidelines to be followed by the Bank IBT in interpreting and applying the computation methods set forth in the Releases or any Subsequent Staff Positions as they specifically apply to a Portfoliothe Trust. In the event that the computation methods in the Releases or the Subsequent Staff Positions or the application to a Portfolio the Trust of a standard or guideline is not free from doubt or in the event there is any question of interpretation as to the characterization of a particular security or any aspect of a security or a payment with respect thereto (e.g., original issue discount, participating debt security, income or return of capital, etc.) or otherwise or as to any other element of the computation which is pertinent to the Fund, NYLIMTrust, the Fund Trust or any of the Fund's its designated agents agent shall have the full responsibility for making the determination of how the security or payment is to be treated for purposes of the computation and how the computation is to be made and shall inform the Bank IBT thereof on a timely basis. The Bank IBT shall have no responsibility to make independent determinations with respect to any item which is covered by this Section, and shall not be responsible for its computations made in accordance with such determinations so long as such computations are mathematically correct.be (ivd) NYLIM The Trust shall keep the Bank IBT informed of all publicly available information relating specifically to the Trust (as opposed to investment companies generally) and of any non-public advice, or non-public information obtained by the Fund Trust from its independent auditors or by its personnel or the personnel of its investment adviser, or Subsequent Staff Positions adviser related to the computations to be undertaken by the Bank IBT pursuant to this Agreement and the Bank IBT shall not be deemed to have knowledge of such information (except as contained in the ReleasesReleases and the Subsequent Staff Positions or as publicly available regarding investment companies generally) unless it has been furnished to the Bank IBT in writing.