Exhibit 99.(k)(iii)
FUND ACCOUNTING AGREEMENT
AGREEMENT made as of this ______ day of ___________, 2003 by and between
_________________________________________, a Delaware statutory trust having its
principal place of business at _________________________________________________
(hereinafter called the "Fund") and The Bank of New York, a New York corporation
authorized to do a banking business, having its principal place of business at
Xxx Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (hereinafter called the "Bank").
W I T N E S S E T H:
In consideration of the mutual agreements herein contained, the Fund and
the Bank hereby agree as follows:
nn. THE FUND HEREBY APPOINTS THE BANK TO PERFORM THE DUTIES
HEREINAFTER SET FORTH.
oo. THE BANK HEREBY ACCEPTS APPOINTMENT AND AGREES TO PERFORM
THE DUTIES HEREINAFTER SET FORTH.
pp. SUBJECT TO THE PROVISIONS OF PARAGRAPHS 4 AND 5 BELOW, THE
BANK SHALL COMPUTE THE NET ASSET VALUE PER SHARE OF EACH
SERIES OF SHARES LISTED ON SCHEDULE I HERETO (THE "SERIES")
OF THE FUND AND SHALL VALUE THE SECURITIES HELD BY THE FUND
(THE "SECURITIES") AT SUCH TIMES AND DATES AND IN THE MANNER
SPECIFIED IN THE THEN CURRENTLY EFFECTIVE PROSPECTUS OF THE
FUND.
qq. TO THE EXTENT VALUATION OF SECURITIES OR COMPUTATION OF A
SERIES' NET ASSET VALUE AS SPECIFIED IN THE FUND'S THEN
CURRENTLY EFFECTIVE PROSPECTUS IS AT ANY TIME INCONSISTENT
WITH ANY APPLICABLE LAWS OR REGULATIONS, THE FUND SHALL
IMMEDIATELY SO NOTIFY THE BANK IN WRITING AND THEREAFTER
SHALL EITHER FURNISH THE BANK AT ALL APPROPRIATE TIMES WITH
THE VALUES OF SUCH SECURITIES AND EACH SERIES' NET ASSET
VALUE, OR SUBJECT TO THE PRIOR APPROVAL OF THE BANK,
INSTRUCT THE BANK IN WRITING TO VALUE SECURITIES AND COMPUTE
EACH SERIES' NET ASSET VALUE IN A MANNER WHICH THE FUND THEN
REPRESENTS IN WRITING TO BE CONSISTENT WITH ALL APPLICABLE
LAWS AND REGULATIONS. THE FUND MAY ALSO FROM TIME TO TIME,
1
SUBJECT TO THE PRIOR APPROVAL OF THE BANK, INSTRUCT THE BANK
IN WRITING TO COMPUTE THE VALUE OF THE SECURITIES OR A
SERIES' NET ASSET VALUE IN A MANNER OTHER THAN AS SPECIFIED
IN PARAGRAPH 3 OF THIS AGREEMENT. BY GIVING SUCH
INSTRUCTION, THE FUND SHALL BE DEEMED TO HAVE REPRESENTED
THAT SUCH INSTRUCTION IS CONSISTENT WITH ALL APPLICABLE LAWS
AND REGULATIONS AND THE THEN CURRENTLY EFFECTIVE PROSPECTUS
OF THE FUND. THE FUND SHALL HAVE SOLE RESPONSIBILITY FOR
DETERMINING THE METHOD OF VALUATION OF SECURITIES AND THE
METHOD OF COMPUTING EACH SERIES' NET ASSET VALUE.
rr. THE FUND SHALL FURNISH THE BANK WITH ANY AND ALL
INSTRUCTIONS, EXPLANATIONS, INFORMATION, SPECIFICATIONS AND
DOCUMENTATION DEEMED NECESSARY BY THE BANK IN THE
PERFORMANCE OF ITS DUTIES HEREUNDER, INCLUDING, WITHOUT
LIMITATION, THE AMOUNTS OR WRITTEN FORMULA FOR CALCULATING
THE AMOUNTS AND TIMES OF ACCRUAL OF FUND LIABILITIES AND
EXPENSES. THE BANK SHALL NOT BE REQUIRED TO INCLUDE AS FUND
LIABILITIES AND EXPENSES, NOR AS A REDUCTION OF NET ASSET
VALUE, ANY ACCRUAL FOR ANY FEDERAL, STATE, OR FOREIGN INCOME
TAXES UNLESS THE FUND SHALL HAVE SPECIFIED TO THE BANK THE
PRECISE AMOUNT OF THE SAME TO BE INCLUDED IN LIABILITIES AND
EXPENSES OR USED TO REDUCE NET ASSET VALUE. THE FUND SHALL
ALSO FURNISH THE BANK WITH BID, OFFER, OR MARKET VALUES OF
SECURITIES IF THE BANK NOTIFIES THE FUND THAT SAME ARE NOT
AVAILABLE TO THE BANK FROM A SECURITY PRICING OR SIMILAR
SERVICE UTILIZED, OR SUBSCRIBED TO, BY THE BANK WHICH THE
BANK IN ITS JUDGMENT DEEMS RELIABLE AT THE TIME SUCH
INFORMATION IS REQUIRED FOR CALCULATIONS HEREUNDER. AT ANY
TIME AND FROM TIME TO TIME, THE FUND ALSO MAY FURNISH THE
BANK WITH BID, OFFER, OR MARKET VALUES OF SECURITIES AND
INSTRUCT THE BANK TO USE SUCH INFORMATION IN ITS
CALCULATIONS HEREUNDER. THE BANK SHALL AT NO TIME BE
REQUIRED OR OBLIGATED TO COMMENCE OR MAINTAIN ANY
UTILIZATION OF, OR SUBSCRIPTIONS TO, ANY SECURITIES PRICING
OR SIMILAR SERVICE.
ss. THE BANK SHALL ADVISE THE FUND, THE FUND'S CUSTODIAN AND THE
FUND'S TRANSFER AGENT OF THE NET ASSET VALUE OF EACH SERIES
UPON COMPLETION OF THE COMPUTATIONS REQUIRED TO BE MADE BY
THE BANK PURSUANT TO THIS AGREEMENT.
2
tt. THE BANK SHALL, AS AGENT FOR THE FUND, MAINTAIN AND KEEP
CURRENT THE BOOKS, ACCOUNTS AND OTHER DOCUMENTS, IF ANY,
LISTED IN APPENDIX A HERETO AND MADE A PART HEREOF, AS SUCH
APPENDIX A MAY BE AMENDED FROM TIME TO TIME, AND PRESERVE
ANY SUCH BOOKS, ACCOUNTS AND OTHER DOCUMENTS IN ACCORDANCE
WITH THE APPLICABLE PROVISIONS OF RULE 31A-2 OF THE GENERAL
RULES AND REGULATIONS UNDER THE INVESTMENT COMPANY ACT OF
1940, AS AMENDED (THE "RULES"). SUCH BOOKS, ACCOUNTS AND
OTHER DOCUMENTS SHALL BE MADE AVAILABLE UPON REASONABLE
REQUEST FOR INSPECTION BY OFFICERS, EMPLOYEES AND AUDITORS
OF THE FUND DURING THE BANK'S NORMAL BUSINESS HOURS.
uu. ALL RECORDS MAINTAINED AND PRESERVED BY THE BANK PURSUANT TO
THIS AGREEMENT WHICH THE FUND IS REQUIRED TO MAINTAIN AND
PRESERVE IN ACCORDANCE WITH THE ABOVE-MENTIONED RULES SHALL
BE AND REMAIN THE PROPERTY OF THE FUND AND SHALL BE
SURRENDERED TO THE FUND PROMPTLY UPON REQUEST IN THE FORM IN
WHICH SUCH RECORDS HAVE BEEN MAINTAINED AND PRESERVED. UPON
REASONABLE REQUEST OF THE FUND, THE BANK SHALL PROVIDE IN
HARD COPY OR ON MICRO-FILM, WHICHEVER THE BANK SHALL ELECT,
ANY RECORDS INCLUDED IN ANY SUCH DELIVERY WHICH ARE
MAINTAINED BY THE BANK ON A COMPUTER DISC, OR ARE SIMILARLY
MAINTAINED, AND THE FUND SHALL REIMBURSE THE BANK FOR ITS
EXPENSES OF PROVIDING SUCH HARD COPY OR MICRO-FILM.
vv. THE BANK, IN PERFORMING THE SERVICES REQUIRED OF IT UNDER
THE TERMS OF THIS AGREEMENT, SHALL BE ENTITLED TO RELY FULLY
ON THE ACCURACY AND VALIDITY OF ANY AND ALL INSTRUCTIONS,
EXPLANATIONS, INFORMATION, SPECIFICATIONS AND DOCUMENTATION
FURNISHED TO IT IN WRITING BY THE FUND AND SHALL HAVE NO
DUTY OR OBLIGATION TO REVIEW THE ACCURACY, VALIDITY OR
PROPRIETY OF SUCH INSTRUCTIONS, EXPLANATIONS, INFORMATION,
SPECIFICATIONS OR DOCUMENTATION, INCLUDING, WITHOUT
LIMITATION, EVALUATIONS OF SECURITIES; THE AMOUNTS OR
FORMULA FOR CALCULATING THE AMOUNTS AND TIMES OF ACCRUAL OF
SERIES' LIABILITIES AND EXPENSES; THE AMOUNTS RECEIVABLE AND
THE AMOUNTS PAYABLE ON THE SALE OR PURCHASE OF SECURITIES;
AND AMOUNTS RECEIVABLE OR AMOUNTS PAYABLE FOR THE SALE OR
REDEMPTION OF FUND SHARES EFFECTED BY OR ON BEHALF OF THE
FUND. IN THE EVENT THE BANK'S COMPUTATIONS
3
HEREUNDER RELY, IN WHOLE OR IN PART, UPON INFORMATION,
INCLUDING, WITHOUT LIMITATION, BID, OFFER OR MARKET VALUES
OF SECURITIES OR OTHER ASSETS, OR ACCRUALS OF INTEREST OR
EARNINGS THEREON, FROM A PRICING OR SIMILAR SERVICE
UTILIZED, OR SUBSCRIBED TO, BY THE BANK WHICH THE BANK IN
ITS JUDGMENT DEEMS RELIABLE, THE BANK SHALL NOT BE
RESPONSIBLE FOR, UNDER ANY DUTY TO INQUIRE INTO, OR DEEMED
TO MAKE ANY ASSURANCES WITH RESPECT TO, THE ACCURACY OR
COMPLETENESS OF SUCH INFORMATION.
ww. THE BANK SHALL NOT BE REQUIRED TO INQUIRE INTO ANY VALUATION
OF SECURITIES OR OTHER ASSETS BY THE FUND OR ANY THIRD PARTY
DESCRIBED IN PRECEDING PARAGRAPH 9 HEREOF, EVEN THOUGH THE
BANK IN PERFORMING SERVICES SIMILAR TO THE SERVICES PROVIDED
PURSUANT TO THIS AGREEMENT FOR OTHERS MAY RECEIVE DIFFERENT
VALUATIONS OF THE SAME OR DIFFERENT SECURITIES OF THE SAME
ISSUERS.
xx. THE BANK, IN PERFORMING THE SERVICES REQUIRED OF IT UNDER
THE TERMS OF THIS AGREEMENT, SHALL NOT BE RESPONSIBLE FOR
DETERMINING WHETHER ANY INTEREST ACCRUABLE TO THE FUND IS OR
WILL BE ACTUALLY PAID, BUT WILL ACCRUE SUCH INTEREST UNTIL
OTHERWISE INSTRUCTED BY THE FUND.
yy. THE BANK SHALL NOT BE RESPONSIBLE FOR DELAYS OR ERRORS WHICH
OCCUR BY REASON OF CIRCUMSTANCES BEYOND ITS CONTROL IN THE
PERFORMANCE OF ITS DUTIES UNDER THIS AGREEMENT, INCLUDING,
WITHOUT LIMITATION, LABOR DIFFICULTIES WITHIN OR WITHOUT THE
BANK, MECHANICAL BREAKDOWNS, FLOOD OR CATASTROPHE, ACTS OF
GOD, FAILURES OF TRANSPORTATION, COMMUNICATION OR POWER
SUPPLY, OR OTHER SIMILAR CIRCUMSTANCES. NOR SHALL THE BANK
BE RESPONSIBLE FOR DELAYS OR FAILURES TO SUPPLY THE
INFORMATION OR SERVICES SPECIFIED IN THIS AGREEMENT WHERE
SUCH DELAYS OR FAILURES ARE CAUSED BY THE FAILURE OF ANY
PERSON(S) OTHER THAN THE BANK TO SUPPLY ANY INSTRUCTIONS,
EXPLANATIONS, INFORMATION, SPECIFICATIONS OR DOCUMENTATION
DEEMED NECESSARY BY THE BANK IN THE PERFORMANCE OF ITS
DUTIES UNDER THIS AGREEMENT.
zz. NO PROVISION OF THIS AGREEMENT SHALL PREVENT THE BANK FROM
OFFERING SERVICES SIMILAR OR IDENTICAL TO THOSE COVERED BY
THIS AGREEMENT TO ANY OTHER CORPORATIONS, ASSOCIATIONS OR
ENTITIES OF ANY KIND. ANY AND ALL
4
OPERATIONAL PROCEDURES, TECHNIQUES AND DEVICES DEVELOPED BY
THE BANK IN CONNECTION WITH THE PERFORMANCE OF ITS DUTIES
AND OBLIGATIONS UNDER THIS AGREEMENT, INCLUDING THOSE
DEVELOPED IN CONJUNCTION WITH THE FUND, SHALL BE AND REMAIN
THE PROPERTY OF THE BANK, AND THE BANK SHALL BE FREE TO
EMPLOY SUCH PROCEDURES, TECHNIQUES AND DEVICES IN CONNECTION
WITH THE PERFORMANCE OF ANY OTHER CONTRACT WITH ANY OTHER
PERSON WHETHER OR NOT SUCH CONTRACT IS SIMILAR OR IDENTICAL
TO THIS AGREEMENT.
aaa. THE BANK MAY, WITH RESPECT TO QUESTIONS OF LAW, APPLY TO AND
OBTAIN THE ADVICE AND OPINION OF COUNSEL TO THE FUND OR ITS
OWN COUNSEL AND SHALL BE ENTITLED TO RELY ON THE ADVICE OR
OPINION OF SUCH COUNSEL, PROVIDED THAT THE BANK SHALL WHERE
CIRCUMSTANCES REASONABLY PERMIT NOTIFY THE FUND IN WRITING
PRIOR TO OBTAINING SUCH ADVICE OR OPINION OF COUNSEL. THE
COSTS OF ANY SUCH ADVICE OR OPINION SHALL BE BORNE BY THE
FUND.
bbb. IN NO EVENT SHALL THE BANK BE REQUIRED TO ACCEPT OR ACT UPON
ANY ORAL INSTRUCTIONS; REGARDLESS OF THE CIRCUMSTANCES.
ccc. NOTWITHSTANDING ANY OTHER PROVISION CONTAINED IN THIS
AGREEMENT, THE BANK SHALL HAVE NO DUTY OR OBLIGATION WITH
RESPECT TO, INCLUDING, WITHOUT LIMITATION, ANY DUTY OR
OBLIGATION TO DETERMINE, OR ADVISE OR NOTIFY THE FUND OF:
(a) THE TAXABLE NATURE OF ANY DISTRIBUTION OR AMOUNT
RECEIVED OR DEEMED RECEIVED BY, OR PAYABLE TO, THE FUND; (b)
THE TAXABLE NATURE OR EFFECT ON THE FUND OR ITS SHAREHOLDERS
OF ANY CORPORATE ACTIONS, CLASS ACTIONS, TAX RECLAIMS, TAX
REFUNDS, OR SIMILAR EVENTS; (c) THE TAXABLE NATURE OR
TAXABLE AMOUNT OF ANY DISTRIBUTION OR DIVIDEND PAID, PAYABLE
OR DEEMED PAID, BY THE FUND TO ITS SHAREHOLDERS; OR (d) THE
EFFECT UNDER ANY FEDERAL, STATE, OR FOREIGN INCOME TAX LAWS
OF THE FUND MAKING OR NOT MAKING ANY DISTRIBUTION OR
DIVIDEND PAYMENT, OR ANY ELECTION WITH RESPECT THERETO.
ddd. THE BANK SHALL NOT BE LIABLE FOR ANY LOSS, DAMAGE OR
EXPENSE, INCLUDING COUNSEL FEES AND OTHER COSTS AND EXPENSES
OF A DEFENSE AGAINST ANY CLAIM OR LIABILITY, RESULTING FROM,
ARISING OUT OF, OR IN CONNECTION WITH ITS PERFORMANCE
HEREUNDER, INCLUDING ITS ACTIONS OR
5
OMISSIONS, THE INCOMPLETENESS OR INACCURACY OF ANY
SPECIFICATIONS OR OTHER INFORMATION FURNISHED BY THE FUND,
OR FOR DELAYS CAUSED BY CIRCUMSTANCES BEYOND THE BANK'S
CONTROL, UNLESS SUCH LOSS, DAMAGE OR EXPENSE ARISES OUT OF
THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF THE BANK. IN
NO EVENT SHALL THE BANK BE LIABLE TO THE COMPANY OR ANY
THIRD PARTY FOR SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES,
OR FOR LOST PROFITS OR LOSS OF BUSINESS, ARISING UNDER OR IN
CONNECTION WITH THIS AGREEMENT, EVEN IF PREVIOUSLY INFORMED
OF THE POSSIBILITY OF SUCH DAMAGES AND REGARDLESS OF THE
FORM OF ACTION.
eee. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE FUND
SHALL INDEMNIFY THE BANK AGAINST AND SAVE THE BANK HARMLESS
FROM ANY LOSS, DAMAGE OR EXPENSE, INCLUDING REASONABLE
COUNSEL FEES AND OTHER COSTS AND EXPENSES OF A DEFENSE
AGAINST ANY CLAIM OR LIABILITY, ARISING FROM ANY ONE OR MORE
OF THE FOLLOWING:
a. Errors in records or instructions, explanations,
information, specifications or documentation of any
kind, as the case may be, supplied to the Bank in
writing by any third party described in preceding
paragraph 9 hereof or by or on behalf of the Fund;
b. Action or inaction taken or omitted to be taken by the
Bank pursuant to written instructions of the Fund or
otherwise without gross negligence or willful
misconduct;
c. Any action taken or omitted to be taken by the Bank in
good faith in accordance with the advice or opinion of
counsel for the Fund or its own counsel;
d. Any improper use by the Fund or its agents, distributor
or investment advisor of any valuations or computations
supplied by the Bank pursuant to this Agreement;
e. The method of valuation of the Securities and the
method of computing each Series' net asset value; or
f. Any valuations of Securities or net asset value
provided by the Fund.
6
fff. IN CONSIDERATION FOR ALL OF THE SERVICES TO BE PERFORMED BY
THE BANK AS SET FORTH HEREIN THE BANK SHALL BE ENTITLED TO
RECEIVE REIMBURSEMENT FOR ALL OUT-OF-POCKET EXPENSES AND
SUCH COMPENSATION AS MAY BE AGREED UPON IN WRITING FROM TIME
TO TIME BETWEEN THE BANK AND THE FUND.
ggg. ATTACHED HERETO AS APPENDIX B IS A LIST OF PERSONS DULY
AUTHORIZED BY THE FUND'S DECLARATION OF TRUST AND BY-LAWS TO
EXECUTE THIS AGREEMENT AND GIVE ANY WRITTEN INSTRUCTIONS, OR
WRITTEN SPECIFICATIONS, BY OR ON BEHALF OF THE FUND. FROM
TIME TO TIME THE FUND MAY DELIVER A NEW APPENDIX B TO ADD OR
DELETE ANY PERSON AND THE BANK SHALL BE ENTITLED TO RELY ON
THE LAST APPENDIX B ACTUALLY RECEIVED BY THE BANK.
hhh. THE FUND REPRESENTS AND WARRANTS TO THE BANK THAT IT HAS ALL
REQUISITE POWER TO EXECUTE AND DELIVER THIS AGREEMENT, TO
GIVE ANY WRITTEN INSTRUCTIONS CONTEMPLATED HEREBY, AND TO
PERFORM THE ACTIONS OR OBLIGATIONS CONTEMPLATED TO BE
PERFORMED BY IT HEREUNDER, AND HAS TAKEN ALL NECESSARY
ACTION TO AUTHORIZE SUCH EXECUTION, DELIVERY, AND
PERFORMANCE.
iii. THIS AGREEMENT SHALL NOT BE ASSIGNABLE BY THE FUND WITHOUT
THE PRIOR WRITTEN CONSENT OF THE BANK, OR BY THE BANK
WITHOUT THE PRIOR WRITTEN CONSENT OF THE FUND.
jjj. EITHER OF THE PARTIES HERETO MAY TERMINATE THIS AGREEMENT BY
GIVING THE OTHER PARTY A NOTICE IN WRITING SPECIFYING THE
DATE OF SUCH TERMINATION, WHICH SHALL NOT BE LESS THAN
THIRTY (30) DAYS AFTER THE DATE OF GIVING OF SUCH NOTICE.
UPON THE DATE SET FORTH IN SUCH NOTICE, THE BANK SHALL
DELIVER TO THE FUND ALL RECORDS THEN THE PROPERTY OF THE
FUND AND, UPON SUCH DELIVERY, THE BANK SHALL BE RELIEVED OF
ALL DUTIES AND RESPONSIBILITIES UNDER THIS AGREEMENT.
kkk. THIS AGREEMENT MAY NOT BE AMENDED OR MODIFIED IN ANY MANNER
EXCEPT BY WRITTEN AGREEMENT EXECUTED ON BEHALF OF BOTH
PARTIES HERETO.
lll. THIS AGREEMENT IS EXECUTED IN THE STATE OF NEW YORK AND ALL
LAWS AND RULES OF CONSTRUCTION OF THE STATE OF NEW YORK
(OTHER THAN THOSE RELATING TO CHOICE OF LAWS) SHALL GOVERN
THE RIGHTS, DUTIES AND OBLIGATIONS OF THE
7
PARTIES HERETO. THE FUND AND THE BANK HEREBY CONSENT TO THE
EXCLUSIVE JURISDICTION OF A STATE OR FEDERAL COURTS SITUATED
IN NEW YORK CITY, NEW YORK IN CONNECTION WITH ANY DISPUTE
ARISING HEREUNDER. THE FUND HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING
OF VENUE OF ANY SUCH PRECEDING BROUGHT IN SUCH A COURT AND
ANY CLAIM THAT SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS
BEEN BROUGHT IN AN INCONVENIENT FORM. THE FUND AND THE BANK
EACH HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING
TO THIS AGREEMENT.
mmm. THE PERFORMANCE AND PROVISIONS OF THIS AGREEMENT ARE
INTENDED TO BENEFIT ONLY THE BANK AND THE FUND, AND NO
RIGHTS SHALL BE GRANTED TO ANY OTHER PERSON BY VIRTUE OF
THIS AGREEMENT.
8
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first written above.
---------------------------------
By:
--------------------------
Name:
Title:
Attest:
--------------------------
Name:
Title:
THE BANK OF NEW YORK
By:
--------------------------
Name:
Title:
Attest:
--------------------------
9
APPENDIX A TO FUND ACCOUNTING AGREEMENT
BETWEEN
THE BANK OF NEW YORK
AND
---------------------------------------------
i. The Bank of New York (the "Bank"), as agent
for __________________ ____________________
(the "Fund"), shall maintain the following
records on a daily basis for each Series.
1. Report of priced portfolio
securities
2. Statement of net asset value per
share
ii. The Bank shall maintain the following
records on a monthly basis for each Series:
1. General Ledger
2. General Journal
3. Cash Receipts Journal
4. Cash Disbursements Journal
5. Subscriptions Journal
6. Redemptions Journal
7. Accounts Receivable Reports
8. Accounts Payable Reports
9. Open Subscriptions/Redemption
Reports
10. Transaction (Securities) Journal
11. Broker Net Trades Reports
iii. The Bank shall prepare a Holdings Ledger on
a quarterly basis, and a Buy-Sell Ledger
(Broker's Ledger) on a semiannual basis for
each Series.
A-1
Schedule D shall be produced on an annual
basis for each Series.
The above reports may be printed according to any other required frequency
to meet the requirements of the Internal Revenue Service, The Securities and
Exchange Commission and the Fund's Auditors.
iv. For internal control purposes, the Bank
uses the Account Journals produced by The
Bank of New York Custody System to record
daily settlements of the following for each
Series:
1. Securities bought
2. Securities sold
3. Interest received
4. Dividends received
5. Capital stock sold
6. Capital stock redeemed
7. Other income and expenses
All portfolio purchases for the Fund are recorded to reflect expected
maturity value and total cost including any prepaid interest.
X-0
XXXXXXXX X
I, __________________, of _____________________, a Delaware statutory trust
(the "Fund"), do hereby certify that:
The following individuals serve in the following positions with the Fund,
and each has been duly elected or appointed by the Board of Trustees of the Fund
to each such position and qualified therefor in conformity with the Fund's
Declaration of Trust and By-Laws, and the signatures set forth opposite their
respective names are their true and correct signatures. Each such person is
authorized to give written or oral instructions or written or oral
specifications by or on behalf of the Fund to the Bank.
NAME POSITION SIGNATURE
President and
Chief Executive Officer
------------------- -------------------
Secretary
------------------- -------------------
Treasurer and
Chief Financial Officer
------------------- -------------------
Vice President
------------------- -------------------
Vice President and
Assistant Secretary
------------------- -------------------
Employee of Advisor
------------------- -------------------
Employee of Advisor
------------------- -------------------
B-1
SCHEDULE I
SERIES
