Common use of Description of Accounting Services on a Continuous Basis Clause in Contracts

Description of Accounting Services on a Continuous Basis. PFPC will perform the following accounting services with respect to each portfolio: (i) Journalize investment, capital and income and expense activities; (ii) Verify investment buy/sell trade tickets when received from the investment adviser for the portfolio (the "Adviser") and, with respect only to those portfolios that invest principally in U.S. domestic securities, transmit trades to such portfolio's custodian(s) for proper settlement; (iii) Maintain individual ledgers for each investment fund in which the Fund is invested and use valuations provided by the underlying funds in which the Fund is invested as reported by the Adviser; (iv) Maintain historical tax lots for each security; (v) Record and reconcile corporate action activity and all other capital changes; (vi) Reconcile cash and investment balances of the Fund with the Fund's custodian(s), and provide the Adviser with the beginning cash balance available for investment purposes. (vii) Calculate contractual expenses, including management fees and incentive allocation, as applicable, in accordance with the Fund's confidential memorandum; (viii) Post to and prepare the Statement of Assets and Liabilities and the Statement of Operations in U.S. dollar terms; (ix) Monitor the expense accruals and notify and officer of the Fund of any proposed adjustments; (x) Control all disbursements and authorize such disbursements from the Fund's account with the custodian(s) upon Written Instructions; (xii) Calculate capital gains and losses; (xiii) Determine net income; (xiv) Determine applicable foreign exchange gains and losses on payables and receivables;

Description of Accounting Services on a Continuous Basis. PFPC will perform the following accounting services with respect to each portfolioPortfolio on a continuous basis: (i) Journalize investment, capital share and income and expense activities; (ii) Verify investment buy/sell trade tickets when received from the investment adviser for the portfolio a Portfolio (the "Adviser") and, with respect only to those portfolios that invest principally in U.S. domestic securities, and transmit trades to such portfoliothe Fund's custodian(scustodian (the "Custodian") for proper settlement; (iii) Maintain individual ledgers for each investment fund in which the Fund is invested and use valuations provided by the underlying funds in which the Fund is invested as reported by the Advisersecurities; (iv) Maintain historical tax lots for each security; (v) Record and reconcile corporate action activity and all other capital changes; (vi) Reconcile cash and investment balances of the Fund with the Fund's custodian(s)Custodian, and provide the Adviser with the beginning cash balance available for investment purposes.; (vi) Update the cash availability throughout the day as required by the Adviser; (vii) Calculate contractual expenses, including management fees and incentive allocation, as applicable, in accordance with the Fund's confidential memorandum; (viii) Post to and prepare the Statement of Assets and Liabilities and the Statement of Operations in U.S. dollar termsOperations; (viii) Calculate various contractual expenses (e.g., advisory and custody fees); (ix) Monitor the expense accruals and notify and an officer of the Fund of any proposed adjustments; (x) Control all disbursements and authorize such disbursements from the Fund's account with the custodian(s) upon Written Instructions; (xiixi) Calculate capital gains and losses; (xiiixii) Determine net income; (xivxiii) Determine applicable foreign exchange gains Obtain security market quotes from independent pricing services approved by the Adviser, or if such quotes are unavailable, then obtain such prices from the Adviser, and losses on payables and receivables;in either case calculate the market value of