Common use of Control reports Clause in Contracts

Control reports. Ultimus shall provide Administrator with a copy of Ultimus’ annual SOC 1 report for Transfer Agency. Should Ultimus fail to provide such report to Administrator, Ultimus will reimburse expenses up to $50,000 necessary to cover costs incurred by Fund’s auditor in performing additional control testing.

Control reports. Ultimus shall provide Administrator with a copy of Ultimus’ annual SOC 1 report for Transfer Agency. Should Ultimus fail to provide such report to Administrator, Ultimus ▇▇▇▇▇▇▇ will reimburse expenses up to $50,000 necessary to cover costs incurred by Fund’s auditor in performing additional control testing.