Common use of BISYS TESTING & MONITORING Clause in Contracts

BISYS TESTING & MONITORING. BISYS has implemented a regime of testing and monitoring of internal processes across its operating areas, including Distributor, Transfer Agent and Administrator. While this testing includes processing relating to the Funds, the object of the testing is to demonstrate the integrity of BISYS' procedures as they are implemented across the funds that it services. BISYS will further implement similar testing and monitoring processes and reporting for the Investment Adviser(s). Other service providers may be included as required under Rule 38a-1, as amended, and/or as mutuall agreed upon between the Trust and BISYS. BISYS receives monthly reports of this testing from which various quarterly Board reports will be developed. In addition, this is designed to help to identify areas that may require more intensive testing, or that may require changes in procedures.

BISYS TESTING & MONITORING. BISYS has implemented a regime of testing and monitoring of internal processes across its operating areas, including Distributor, Transfer Agent and Administrator. While this testing includes processing relating to the Funds, the object of the testing is to demonstrate the integrity of BISYS' procedures as they are implemented across the funds that it services. BISYS will further implement similar testing and monitoring processes and reporting for the Investment Adviser(s). Other service providers may be included as required under Rule 38a-1, as amended, and/or as mutuall mutually agreed upon between the Trust and BISYS. BISYS receives monthly reports of this testing from which various quarterly Board reports will be developed. In addition, this is designed to help to identify areas that may require more intensive testing, or that may require changes in procedures.