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 Fund: (i) Journalize investment, capital share and income and expense activities; (ii) Verify investment buy/sell trade tickets when received from the investment adviser for a Fund (the “Adviser”); (iii) Maintain individual ledgers for investment securities; (iv) Maintain historical tax lots for each security; (v) Reconcile cash and investment balances of the Fund with the Custodian, and provide the Adviser with the beginning cash balance available for investment purposes daily; (vi) Post to and prepare daily, the general ledger and trial balance; (vii) Calculate capital gains and losses; (viii) Determine book-basis net income; (ix) 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 in either case calculate the market value of each Fund’s Investments in accordance with the Funds’ Valuation Procedures; (x) Transmit, mail or otherwise make available a copy of the daily portfolio valuation to the Adviser; PFPC shall provide to the Fund the Data Repository and Analytics Suite (DRAS) internet access service; (xi) Compute net asset value; (xii) Provide accounting information for the following: (A) federal and state income tax returns and federal excise tax returns; (B) the Trust’s semi-annual reports with the SEC on Form N-SAR; (C) the Trust’s annual, semi-annual and quarterly, if any, shareholder reports; (D) registration statements on Form N-1A and other filings relating to the registration of shares; (E) the Administrator’s monitoring of the Trust’s status as a regulated investment company under subchapter M of the Internal Revenue Code, as amended; (F) annual audit by the Trust’s auditors; and (G) examinations performed by the SEC.

Description of Accounting Services on a Continuous Basis. PFPC will perform the following accounting services with respect to each Fund: (i) Journalize investment, capital share and income and expense activities; (ii) Verify investment buy/sell trade tickets when received from the investment adviser for a Fund (the “"Adviser”"); (iii) Maintain individual ledgers for investment securities; (iv) Maintain historical tax lots for each security; (v) Reconcile cash and investment balances of the Fund with the Custodian, and provide the Adviser with the beginning cash balance available for investment purposes daily; (vi) Post to and prepare daily, the general ledger and trial balance; (vii) Calculate capital gains and losses; (viii) Determine book-basis net income; (ix) 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 in either case calculate the market value of each Fund’s 's Investments in accordance with the Funds’ ' Valuation Procedures; (x) Transmit, mail or otherwise make available a copy of the daily portfolio valuation to the Adviser; PFPC shall provide to the Fund the Data Repository and Analytics Suite (DRAS) internet access service; (xi) Compute net asset value; (xii) Provide accounting information for the following: (A) federal and state income tax returns and federal excise tax returns; (B) the Trust’s 's semi-annual reports with the SEC on Form N-SAR; (C) the Trust’s 's annual, semi-annual and quarterly, if any, shareholder reports; (D) registration statements on Form N-1A and other filings relating to the registration of shares; (E) the Administrator’s 's monitoring of the Trust’s 's status as a regulated investment company under subchapter M of the Internal Revenue Code, as amended; (F) annual audit by the Trust’s 's auditors; and (G) examinations performed by the SEC.