Common use of Duties of the Administrator Clause in Contracts

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise for the proper operation of each Trust; (ii) prepare and, subject to approval by each Trust, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others including, but not limited to, the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise for the proper operation of each Trust; (ii) prepare and, subject to approval by each Trust, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “"blue sky” " laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “"blue sky” " laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s 's shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others including, but not limited to, the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s 's Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s 's expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s 's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s 's compliance with legal and regulatory requirements and with each Fund’s 's investment policies and restrictions as set forth in each Fund’s 's currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; and (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Trustees of the Fund (the "Board") , as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following such administrative and clerical servicesservices as may be necessary for administering the business affairs of the Fund, including without limitation, the following: (i) maintain provide office space, telephone, office equipment and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise supplies for the proper operation of each TrustFund; (ii) authorize expenditures and approve bills for payment on the Fund's behalf; (iii) supervise preparation of the periodic updating of the Fund's Registration Statement on Form N-2; (iv) prepare and, subject to approval by each Trust, file registration statementsperiodic reports, notices, reports, tax returns correspondence and other documents required by U.S. Federalcommunications to Fund shareholders and supervise the filing of these as appropriate with the Securities and Exchange Commission; (v) supervise the pricing of the Fund's investment portfolio and the publication of the net asset value of shares, state earnings reports and other applicable laws financial data; (vi) monitor relationships with organizations providing services to the Fund, including the Fund's attorneys, accountants, custodian, transfer agent and printers; (vii) supervise compliance of the Fund with record-keeping requirements under the 1940 Act and regulations thereunder; (other than state “blue sky” laws)viii) maintain or cause to be maintained by a custodian and transfer agent, including proxy materials books and periodic reports to Fund shareholders, oversee records for the Fund; (ix) supervise the preparation and filing of registration statements, notices, tax reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for returns; (x) monitor compliance with state securities laws; (iii) calculate and publish the net asset value Internal Revenue Code of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and1986, as amended; and (xi) provide the Board may reasonably request or deem appropriate, make reports and recommendations Fund with such personnel as requested from time to time by the Board on, Fund for the performance of administrative clerical, accounting and professional other office services rendered to described in (i) through (x), above, and for coordinating the Funds by others including, but not limited to, the custodian, registrarFund's affairs with its sub-administrator, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed custodian. The Fund agrees to deliver or cause to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administratordelivered, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations valuation of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholder reports and expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Trustees of the Fund (the "Board"), as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following such administrative and clerical servicesservices as may be necessary for administering the business affairs of the Fund, including without limitation, the following: (i) maintain provide office space, telephone, office equipment and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise supplies for the proper operation of each TrustFund; (ii) authorize expenditures and approve bills for payment on the Fund's behalf; (iii) supervise preparation of the periodic updating of the Fund's Registration Statement on Form N-2; (iv) prepare and, subject to approval by each Trust, file registration statementsperiodic reports, notices, reports, tax returns correspondence and other documents required by U.S. Federalcommunications to Fund shareholders and supervise the filing of these as appropriate with the Securities and Exchange Commission; (v) supervise the pricing of the Fund's investment portfolio and the publication of the net asset value of shares, state earnings reports and other applicable laws financial data; (vi) monitor relationships with organizations providing services to the Fund, including the Fund's attorneys, accountants, custodian, transfer agent and printers; (vii) supervise compliance of the Fund with record-keeping requirements under the 1940 Act and regulations thereunder; (other than state “blue sky” laws)viii) maintain or cause to be maintained by a custodian and transfer agent, including proxy materials books and periodic reports to Fund shareholders, oversee records for the Fund; (ix) supervise the preparation and filing of registration statements, notices, tax reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for returns; (x) monitor compliance with state securities laws; (iii) calculate and publish the net asset value Internal Revenue Code of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and1986, as amended; and (xi) provide the Board may reasonably request or deem appropriate, make reports and recommendations Fund with such personnel as requested from time to time by the Board on, Fund for the performance of administrative clerical, accounting and professional other office services rendered to described in (i) through (x), above, and for coordinating the Funds by others including, but not limited to, the custodian, registrarFund's affairs with its sub-administrator, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed custodian. The Fund agrees to deliver or cause to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administratordelivered, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations valuation of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholder reports and expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise for the proper operation of each Trust; (ii) prepare and, subject to approval by each Trust, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others including, but not limited to, the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; and (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each the Trust as required by law or otherwise for the proper operation of each the Trust; (ii) prepare and, subject to approval by each the Trust, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each the Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others including, but not limited to, the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each the Trust, including, without limitation, preparation of materials necessary in connection with meetings of each the Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each the Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each the Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each the Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each the Trust; (xi) prepare such financial information and reports as may be required by any banks from which each the Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each the Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each the Trust. Each The Trust agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each the Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Directors of the Fund, as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve keep the books and records, including financial and corporate records, records of each Trust the Fund as required by law or otherwise for the proper operation of each Trustthe Fund; (ii) prepare and, subject to approval by each Trustthe Fund, file registration statements, notices, reports, tax returns reports and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws)and by stock exchanges on which Fund shares are listed, including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities lawsstockholders; (iii) respond to inquiries from Fund shareholders; (iv) calculate and publish or arrange for the calculation and publication of, the net asset value of each the Fund’s 's shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination ofoversee, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Fund by others includingothers, but not limited to, the including its custodian, registrar, transfer agent, dividend disbursing agent and dividend disbursing reinvestment plan agent, shareholder servicing agentsas well as accounting, accountants, attorneys, underwriters, brokers auditing and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirableservices; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Fund with the services of an adequate number of persons competent to perform the foregoing administrative and clerical functions described hereinfunctions; (viiivii) provide each Trust the Fund with administrative office and data processing facilities; (ixviii) arrange for payment of each the Fund’s 's expenses; (xix) provide routine accounting services to the Funds, and consult with each Trust’s the Fund's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Fund; (xix) prepare such financial information and reports as may be required by any banks from which each Trust the Fund borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xvxi) provide such assistance to the investment adviser, the custodian, other Trust service providers custodian and the Fund Fund's counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Fund. Each Trust The Fund agrees to cause the portfolio management agent Investment Adviser to deliver to the Administratordeliver, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations valuation of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholder reports and expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Trustees of the Fund (the “Board”) , as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following such administrative and clerical servicesservices as may be necessary for administering the business affairs of the Fund, including without limitation, the following: (i) maintain provide office space, telephone, office equipment and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise supplies for the proper operation of each TrustFund; (ii) authorize expenditures and approve bills for payment on the Fund’s behalf; (iii) supervise preparation of the periodic updating of the Fund’s Registration Statement on Form N-2; (iv) prepare and, subject to approval by each Trust, file registration statementsperiodic reports, notices, reports, tax returns correspondence and other documents required by U.S. Federalcommunications to Fund shareholders and supervise the filing of these as appropriate with the Securities and Exchange Commission; (v) supervise the pricing of the Fund’s investment portfolio and the publication of the net asset value of shares, state earnings reports and other applicable laws financial data; (vi) monitor relationships with organizations providing services to the Fund, including the Fund’s attorneys, accountants, custodian, transfer agent and printers; (vii) supervise compliance of the Fund with record-keeping requirements under the 1940 Act and regulations thereunder, (other than state “blue sky” laws)viii) maintain or cause to be maintained by a custodian and transfer agent, including proxy materials books and periodic reports to Fund shareholdersrecords for the Fund, oversee (ix) supervise the preparation and filing of registration statements, notices, tax reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for returns; (x) monitor compliance with state securities laws; (iii) calculate and publish the net asset value Internal Revenue Code of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and1986, as amended; and (xi) provide the Board may reasonably request or deem appropriate, make reports and recommendations Fund with such personnel as requested from time to time by the Board on, Fund for the performance of administrative clerical, accounting and professional other office services rendered to described in (i) through (x), above, and for coordinating the Funds by others including, but not limited to, the custodian, registrarFund’s affairs with its sub-administrator, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed custodian. The Fund agrees to deliver or cause to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administratordelivered, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations valuation of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholder reports and expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust the Fund as required by law or otherwise for the proper operation of each Trustthe Fund; (ii) prepare and, subject to approval by each Trustthe Fund, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each the Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trustthe Fund; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Fund by others including, but not limited to, the custodian, registrar, transfer agent and agent, accounting services agent, dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trustthe Fund, including, without limitation, preparation of materials necessary in connection with meetings of each Trustthe Fund’s Board of TrusteesDirectors, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Fund with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust the Fund with administrative office and data processing facilities; (ix) arrange for payment of each the Fund’s expenses; (x) provide routine accounting services to the FundsFund, and consult with each Trustthe Fund’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Fund; (xi) prepare such financial information and reports as may be required by any banks from which each Trust the Fund borrows funds; (xii) develop and implement procedures to monitor each the Fund’s compliance with legal and regulatory requirements and with each the Fund’s investment policies and restrictions as set forth in each the Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trustthe Fund, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the FundsFund; (xv) prepare and file Forms 3, 4 and 5 as required by Section 30(h) of the 1940 Act, upon receipt of information from the Fund’s Directors and officers; (xvi) prepare reports related to the Fund’s preferred stock and borrowings, if any, as required by rating agencies and/or any banks as may be mutually agreed upon; (xvii) oversee implementation of any dividend reinvestment or stock purchase plans authorized by the Board and refer requests for transactions under such plans to the Fund’s dividend reinvestment plan agent; (xviii) arrange for the preparation of any written statement required by Section 19(a) of the 1940 Act and the regulations thereunder to be furnished to shareholders in connection with the payment of dividends and distributions, and arrange for the distribution of such statements to shareholders; (xix) respond to, or refer to the Fund’s investment adviser, the Fund’s officers, other service providers to the Fund or other appropriate persons, inquiries from shareholders or other persons relating to the Fund; and (xvxx) provide such assistance to the investment adviser, the custodian, other Trust Fund service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Fund. Each Trust The Fund agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trustthe Fund, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, accounting services agent, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the FundsFund.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust the Fund as required by law or otherwise for the proper operation of each Trustthe Fund; (ii) prepare and, subject to approval by each Trustthe Fund, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trustthe Fund; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others including, but not limited to, the custodian, registrar, transfer agent and agent, accounting services agent, dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trustthe Fund, including, without limitation, preparation of materials necessary in connection with meetings of each Trustthe Fund’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Fund with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust the Fund with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trustthe Fund’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Fund; (xi) prepare such financial information and reports as may be required by any banks from which each Trust the Fund borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each the Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trustthe Fund, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the FundsFund; (xv) prepare and file Forms 3, 4 and 5 as required by Section 30(h) of the Investment Company Act, upon receipt of information from the Fund’s trustees and officers; (xvi) prepare reports related to the Fund’s preferred stock and borrowings, if any, as required by rating agencies and/or any banks as may be mutually agreed upon; (xvii) oversee implementation of any dividend reinvestment or stock purchase plans authorized by the Board and refer requests for transactions under such plans to the Fund’s dividend reinvestment plan agent; (xviii) arrange for the preparation of any written statement required by Section 19(a) of the Investment Company Act and the regulations thereunder to be furnished to shareholders in connection with the payment of dividends and distributions, and arrange for the distribution of such statements to shareholders; (xix) respond to, or refer to the Fund’s investment adviser, the Fund’s officers, other service providers to the Fund or other appropriate persons, inquiries from shareholders or other persons relating to the Fund; and (xvxx) provide such assistance to the investment adviser, the custodian, other Trust Fund service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Fund. Each Trust The Fund agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trustthe Fund, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, accounting services agent, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each the Trust as required by law or otherwise for the proper operation of each the Trust; (ii) prepare and, subject to approval by each the Trust, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “"blue sky” " laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “"blue sky” " laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s 's shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each the Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others includingothers, but not limited to, including the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each the Trust, including, without limitation, preparation of materials necessary in connection with meetings of each the Trust’s 's Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each the Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each the Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s 's expenses; (x) provide routine accounting services to the Funds, and consult with each the Trust’s 's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each the Trust; (xi) prepare such financial information and reports as may be required by any banks from which each the Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s 's compliance with legal and regulatory requirements and with each Fund’s 's investment policies and restrictions as set forth in each Fund’s 's currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each the Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; and (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviserInvestment Adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each the Trust. Each The Trust agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each the Trust, and not the Administrator, shall be responsible for and bear the costs cost of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers any third party pricing services and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Fundsany third party blue sky services.

Duties of the Administrator. (a) The Company hereby retains the Administrator to act as administrator of the Company and each Fund, subject to the supervision and direction of the Board of Directors of the Company, as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the keep certain books and records, including financial records of the Company and corporate records, of each Trust as required by law or otherwise for the proper operation of each TrustFund; (ii) prepare or review and, subject to approval by each Trustthe Company, file registration statements, notices, reports, tax returns certain reports and other documents required by U.S. Federal, state (subject to and contingent upon the Company's transfer agent providing sales and redemption data to the Administrator via an automated data electronic feed system compatible with the Administrator's system and acceptable to the Administrator) and other applicable U.S. laws and regulations (other than state “blue sky” laws), including proxy materials to maintain the Company's and periodic reports to Fund shareholders, oversee each Fund's registration as an open-end investment company and the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities lawsCompany's and each Fund's shares; (iii) coordinate tax-related matters; (iv) respond to inquiries from Fund shareholders; (v) calculate and publish publish, or arrange for the calculation and publication of, the net asset value of each Fund’s 's shares; (ivvi) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination ofoversee, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Company and each Fund by others includingothers, but not limited to, the custodianincluding its custodian and any subcustodian, registrar, transfer agent, dividend disbursing agent and dividend disbursing reinvestment plan agent, shareholder servicing agentsas well as accounting, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas auditing and other Board materialsservices; (vii) provide each Trust the Company with the services of an adequate number of persons competent to perform the foregoing administrative and clerical functions described hereinfunctions; (viii) provide each Trust the Company with administrative office offices and data processing facilities; (ix) arrange for payment of the Company's and each Fund’s 's expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s the Company's officers, independent accountants, legal counsel, custodian and any sub-custodian, accounting agent and registrar, transfer agent, and dividend disbursing agent and dividend reinvestment plan agent in establishing the accounting policies of each Trustthe Company; (xi) prepare such financial information and reports as may be required by any banks from which each Trust the Company borrows funds; and (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviserInvestment Adviser, the custodian and any sub-custodian, other Trust service providers and the Fund Company's counsel and auditors as generally may be required to carry on properly the business and operations of the Company and each TrustFund. Each Trust The Company agrees to cause its transfer agent, custodian and the portfolio management agent Investment Adviser to deliver to the Administratordeliver, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, daily records of transactions, valuations daily valuation of investments in local currency (which may be based on information provided by a pricing service) and records as well as the daily conversion factor in order for the Administrator to price each Fund in United States dollars, reports of expenses borne by the Company and each Fund, the Company's management letter to stockholders and such other information necessary for the Administrator to prepare the above referenced reports and filings, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Trust hereby retains the Administrator to act as administrator of the Trust and its Funds (each reference herein to the Trust shall also be understood to refer to the separate Funds, as appropriate), subject to the oversight of the Board of Trustees of the Trust, as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical servicesservices with respect to the Trust: (i) maintain and preserve the books and records, including financial and corporate records, of each the Trust as required by law or otherwise for the proper operation of each the Trust; (ii) prepare and, subject to approval by each the Trust, file registration statements, notices, reports, tax returns reports and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “"blue sky” " laws), including proxy materials and periodic reports to Fund Trust shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “"blue sky” " laws, and oversee the monitoring of sales of shares of the Funds Trust for compliance with state securities laws; (iii) calculate and publish publish, or arrange for the calculation and publication of, the net asset value of each Fund’s the Trust's shares; (iv) calculate calculate, or arrange for the calculation of, dividends and distributions and performance data, and prepare other financial information regarding each the Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Trust by others includingothers, but not limited to, including the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each the Trust, including, without limitation, preparation of materials necessary in connection with meetings of each the Trust’s 's Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each the Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each the Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s the Trust's expenses; (x) provide routine accounting services to the FundsTrust, and consult with each the Trust’s 's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each the Trust; (xi) prepare such financial information and reports as may be required by any banks from which each the Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s the Trust's compliance with legal and regulatory requirements and with each the Fund’s 's investment policies and restrictions as set forth in each the Fund’s 's currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; and (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviserInvestment Manager, the custodian, other Trust service providers and the Fund Trust's counsel and auditors as generally may be required to carry on properly the business and operations of each the Trust. Each The Trust agrees to cause the portfolio management agent Investment Manager to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fundthe Trust, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each the Trust, and not the Administrator, shall be responsible for and bear the costs cost of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Fundsany third party pricing services or any third party blue sky services.

Duties of the Administrator. (a) The Company hereby retains the Administrator to act as administrator of the Company and its Portfolios (each reference herein to the Company shall also be understood to refer to the separate Portfolios, as appropriate), subject to the supervision and direction of the Board of Directors of the Company, as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust the Company as required by law or otherwise for the proper operation of each Trustthe Company; (ii) prepare and, subject to approval by each Trustthe Company, file registration statements, notices, reports, tax returns reports and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “"blue sky” " laws), including proxy materials and periodic reports to Fund Company shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “"blue sky” " laws, and oversee the monitoring of sales of shares of the Funds Company for compliance with state securities laws; (iii) calculate and publish publish, or arrange for the calculation and publication of, the net asset value of each Fund’s the Company's shares; (iv) calculate calculate, or arrange for the calculation of, dividends and distributions and performance data, and prepare other financial information regarding each Trustthe Company; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Company by others includingothers, but not limited to, including the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trustthe Company, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s the Company's Board of TrusteesDirectors, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Company with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust the Company with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s the Company's expenses; (x) provide routine accounting services to the FundsCompany, and consult with each Trust’s the Company's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Company; (xi) prepare such financial information and reports as may be required by any banks from which each Trust the Company borrows funds; (xii) develop and implement procedures to monitor each Fund’s the Company's compliance with legal and regulatory requirements and with each Fund’s the Company's investment policies and restrictions as set forth in each Fund’s the Company's currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trustthe Company, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; and (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment advisermanager, the custodian, other Trust Company service providers and the Fund Company's counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Company. Each Trust The Company agrees to cause the portfolio management agent investment manager to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fundthe Company, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trustthe Company, and not the Administrator, shall be responsible for and bear the costs cost of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Fundsany third party pricing services or any third party blue sky services.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Trustees of the Fund (the "Board") , as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain provide office space, telephone, office equipment and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise supplies for the proper operation of each TrustFund; (ii) authorize expenditures and approve bills for payment on the Fund's behalf; (iii) supervise preparation of the periodic updating of the Fund's Registration Statement on Form N-2; (iv) prepare and, subject to approval by each Trust, file registration statementsperiodic reports, notices, reports, tax returns correspondence and other documents required by U.S. Federalcommunications to Fund shareholders and supervise the filing of these as appropriate with the Securities and Exchange Commission; (v) supervise the pricing of the Fund's investment portfolio and the publication of the net asset value of shares, state earnings reports and other applicable laws financial data; (vii) monitor relationships with organizations providing services to the Fund, including the Fund's attorneys, accountants, custodian, transfer agent and printers; (viii) supervise compliance of the Fund with record-keeping requirements under the 1940 Act and regulations thereunder, (other than state “blue sky” laws)ix) maintain or cause to be maintained by a custodian and transfer agent, including proxy materials books and periodic reports to Fund shareholdersrecords for the Fund, oversee (x) supervise the preparation and filing of registration statements, notices, tax reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for returns; (ix) monitor compliance with state securities laws; (iii) calculate and publish the net asset value Internal Revenue Code of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and1986, as amended; and (x) provide the Board may reasonably request or deem appropriate, make reports and recommendations Fund with such personnel as requested from time to time by the Board on, Fund for the performance of administrative clerical, accounting and professional other office services rendered to described in (i) through (ix), above, and for coordinating the Funds by others including, but not limited to, the custodian, registrarFund's affairs with its sub-administrator, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed custodian. The Fund agrees to deliver or cause to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administratordelivered, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations valuation of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholder reports and expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Directors of the Fund, as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the keep certain books and records, including financial and corporate records, records of each Trust as required by law or otherwise for the proper operation of each TrustFund; (ii) prepare or review and, subject to approval by each Trustthe Fund, file registration statements, notices, reports, tax returns certain reports and other documents required by U.S. Federal, state (subject to and contingent upon the Fund's transfer agent providing sales and redemption data to the Administrator via an automated data electronic feed system compatible with the Administrator's system and acceptable to the Administrator) and other applicable U.S. laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee maintain the preparation and filing of Fund's registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities lawsas an open-end investment company; (iii) coordinate tax related matters; (iv) respond to inquiries from Fund shareholders; (v) calculate and publish publish, or arrange for the calculation and publication of, the net asset value of each the Fund’s 's shares; (ivvi) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination ofoversee, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Fund by others includingothers, but not limited to, the custodianincluding its custodian and any subcustodian, registrar, transfer agent, dividend disbursing agent and dividend disbursing reinvestment plan agent, shareholder servicing agentsas well as accounting, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas auditing and other Board materialsservices; (vii) provide each Trust the Fund with the services of an adequate number of persons competent to perform the foregoing administrative and clerical functions described hereinfunctions; (viii) provide each Trust the, Fund with administrative office offices and data processing facilities; (ix) arrange for payment of each the Fund’s 's expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s the Fund's officers, independent accountants, legal counsel, custodian and any sub-custodian, accounting agent and registrar, transfer agent, and dividend disbursing agent and dividend reinvestment plan agent in establishing the accounting policies of each Trustthe Fund; (xi) prepare such financial information and reports as may be required by any banks from which each Trust the Fund borrows funds; and (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviserInvestment Adviser, the custodian and any sub-custodian, other Trust service providers and the Fund Fund's counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Fund. Each Trust The Fund agrees to cause the portfolio management agent transfer agent, the custodian and the Investment Adviser to deliver to the Administratordeliver, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, daily records of transactions, valuations daily valuation of investments in local currency (which may be based on information provided by a pricing service) and records as well as the daily conversion factor in order for the Administrator to price the Fund in United States dollars, reports of expenses borne by each the Fund, the Fund management letter to stockholders and such other information necessary for the Administrator to prepare the above referenced reports and filings, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund and its Portfolios (each reference herein to the Fund shall also be understood to refer to the separate Portfolios, as appropriate), subject to the supervision and direction of the Board of Directors of the Fund, as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust the Fund as required by law or otherwise for the proper operation of each Trustthe Fund; (ii) prepare and, subject to approval by each Trustthe Fund, file registration statements, notices, reports, tax returns reports and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds Fund for compliance with state securities laws; (iii) calculate and publish publish, or arrange for the calculation and publication of, the net asset value of each the Fund’s shares; (iv) calculate calculate, or arrange for the calculation of, dividends and distributions and performance data, and prepare other financial information regarding each Trustthe Fund; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Fund by others includingothers, but not limited to, including the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trustthe Fund, including, without limitation, preparation of materials necessary in connection with meetings of each Trustthe Fund’s Board of TrusteesDirectors, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Fund with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust the Fund with administrative office and data processing facilities; (ix) arrange for payment of each the Fund’s expenses; (x) provide routine accounting services to the FundsFund, and consult with each Trustthe Fund’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Fund; (xi) prepare such financial information and reports as may be required by any banks from which each Trust the Fund borrows funds; (xii) develop and implement procedures to monitor each the Fund’s compliance with legal and regulatory requirements and with each the Fund’s investment policies and restrictions as set forth in each the Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trustthe Fund, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; and (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment advisermanager, the custodian, other Trust Fund service providers and the Fund Fund’s counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Fund. Each Trust The Fund agrees to cause the portfolio management agent investment manager to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trustthe Fund, and not the Administrator, shall be responsible for and bear the costs cost of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Fundsany third party pricing services or any third party blue sky services.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each the Trust as required by law or otherwise for the proper operation of each the Trust; (ii) prepare and, subject to approval by each the Trust, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s 's shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each the Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others including, but not limited to, the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each the Trust, including, without limitation, preparation of materials necessary in connection with meetings of each the Trust’s 's Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each the Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each the Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s 's expenses; (x) provide routine accounting services to the Funds, and consult with each the Trust’s 's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each the Trust; (xi) prepare such financial information and reports as may be required by any banks from which each the Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s 's compliance with legal and regulatory requirements and with each Fund’s 's investment policies and restrictions as set forth in each Fund’s 's currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each the Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each the Trust. Each The Trust agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each the Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Directors of the Fund, as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve keep the books and records, including financial and corporate records, records of each Trust the Fund as required by law or otherwise for the proper operation of each Trustthe Fund; (ii) prepare and, subject to approval by each Trustthe Fund, file registration statements, notices, reports, tax returns reports and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws)and by stock exchanges on which Fund shares are listed, including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities lawsstockholders; (iii) respond to inquiries from Fund shareholders; (iv) calculate and publish or arrange for the calculation and publication of, the net asset value of each the Fund’s 's shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination ofoversee, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Fund by others includingothers, but not limited to, the including its custodian, registrar, transfer agent, dividend disbursing agent and dividend disbursing reinvestment plan agent, shareholder servicing agentsas well as accounting, accountants, attorneys, underwriters, brokers auditing and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirableservices; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Fund with the services of an adequate number of persons competent to perform the foregoing administrative and clerical functions described hereinfunctions; (viiivii) provide each Trust the Fund with administrative office and data processing facilities; (ixviii) arrange for payment of each the Fund’s expenses's expense; (xix) provide routine accounting services to the Funds, and consult with each Trust’s the Fund's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Fund; (xix) prepare such financial information and reports as may be required by any banks from which each Trust the Fund borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xvxi) provide such assistance to the investment adviser, the custodian, other Trust service providers custodian and the Fund Fund's counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Fund. Each Trust The Fund agrees to cause the portfolio management agent Investment Adviser to deliver to the Administratordeliver, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations valuation of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholder reports and expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds2.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Trustees of the Fund, as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve keep the books and records, including financial and corporate records, records of each Trust the Fund as required by law or otherwise for the proper operation of each Trustthe Fund; (ii) prepare and, subject to approval by each Trustthe Fund, file registration statements, notices, reports, tax returns reports and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws)regulations, including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) administer shareholder accounts, handle shareholder relations and respond to inquiries from Fund shareholders; (iv) calculate and publish or arrange for the calculation and publication of, the net asset value of each the Fund’s 's shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination ofconduct relations with, oversee, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Fund by others includingothers, but not limited to, the including its custodian, registrarregistrant, transfer agent, dividend disbursing agent and dividend disbursing reinvestment plan agent, other shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Fund with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viiivii) provide each Trust the Fund with administrative office and data processing facilities; (ixviii) arrange for payment of each the Fund’s 's expenses; (xix) provide routine accounting services to the Funds, and consult with each Trust’s the Fund's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Fund; (xix) prepare such financial information and reports as may be required by any banks from which each Trust the Fund borrows funds; (xiixi) develop and implement procedures to monitor each the Fund’s 's compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each the Fund’s 's currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xvxii) provide such assistance to the investment adviserInvestment Adviser, the custodian, other Trust service providers custodian and the Fund Fund's counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Fund. Each Trust The Fund agrees to cause the portfolio management agent Investment Adviser to deliver to the Administratordeliver, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholders reports and expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate company records, of each Trust the Fund as required by law or otherwise for the proper operation of each Trustthe Fund; (ii) prepare and, subject to approval by each Trustthe Fund, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each the Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trustthe Fund; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Fund by others including, but not limited to, the custodian, registrar, transfer agent and agent, accounting services agent, dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate company secretarial services to each Trustthe Fund, including, without limitation, preparation of materials necessary in connection with meetings of each Trustthe Fund’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Fund with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust the Fund with administrative office and data processing facilities; (ix) arrange for payment of each the Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trustthe Fund’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Fund; (xi) prepare such financial information and reports as may be required by any banks from which each Trust the Fund borrows funds; (xii) develop and implement procedures to monitor each the Fund’s compliance with legal and regulatory requirements and with each the Fund’s investment policies and restrictions as set forth in each the Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trustthe Fund, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the FundsFund; (xv) prepare and file Forms 3, 4 and 5 as required by Section 30(h) of the 1940 Act, upon receipt of information from the Fund’s trustees and officers; (xvi) prepare reports related to the Fund’s preferred stock and borrowings, if any, as required by rating agencies and/or any banks as may be mutually agreed upon; (xvii) oversee implementation of any dividend reinvestment or stock purchase plans authorized by the Board and refer requests for transactions under such plans to the Fund’s dividend reinvestment plan agent; (xviii) arrange for the preparation of any written statement required by Section 19(a) of the 1940 Act and the regulations thereunder to be furnished to shareholders in connection with the payment of dividends and distributions, and arrange for the distribution of such statements to shareholders; (xix) respond to, or refer to the Fund’s investment adviser, the Fund’s officers, other service providers to the Fund or other appropriate persons, inquiries from shareholders or other persons relating to the Fund; and (xvxx) provide such assistance to the investment adviser, the custodian, other Trust Fund service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Fund. Each Trust The Fund agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trustthe Fund, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, accounting services agent, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the FundsFund.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Trustees of the Fund (the “Board”), as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following such administrative and clerical servicesservices as may be necessary for administering the business affairs of the Fund, including without limitation, the following: (i) maintain provide office space, telephone, office equipment and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise supplies for the proper operation of each TrustFund; (ii) authorize expenditures and approve bills for payment on the Fund’s behalf; (iii) supervise preparation of the periodic updating of the Fund’s Registration Statement on Form N-2; (iv) prepare and, subject to approval by each Trust, file registration statementsperiodic reports, notices, reports, tax returns correspondence and other documents required by U.S. Federalcommunications to Fund shareholders and supervise the filing of these as appropriate with the Securities and Exchange Commission; (v) supervise the pricing of the Fund’s investment portfolio and the publication of the net asset value of shares, state earnings reports and other applicable laws financial data; (vi) monitor relationships with organizations providing services to the Fund, including the Fund’s attorneys, accountants, custodian, transfer agent and printers; (vii) supervise compliance of the Fund with record-keeping requirements under the 1940 Act and regulations thereunder, (other than state “blue sky” laws)viii) maintain or cause to be maintained by a custodian and transfer agent, including proxy materials books and periodic reports to Fund shareholdersrecords for the Fund, oversee (ix) supervise the preparation and filing of registration statements, notices, tax reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for returns; (x) monitor compliance with state securities laws; (iii) calculate and publish the net asset value Internal Revenue Code of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and1986, as amended; and (xi) provide the Board may reasonably request or deem appropriate, make reports and recommendations Fund with such personnel as requested from time to time by the Board on, Fund for the performance of administrative clerical, accounting and professional other office services rendered to described in (i) through (x), above, and for coordinating the Funds by others including, but not limited to, the custodian, registrarFund’s affairs with its sub-administrator, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed custodian. The Fund agrees to deliver or cause to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administratordelivered, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations valuation of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholder reports and expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust the Company as required by law or otherwise for the proper operation of each Trustthe Company; (ii) prepare and, subject to approval by each Trustthe Company, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “"blue sky” " laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “"blue sky” " laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s 's shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trustthe Company; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others includingothers, but not limited to, including the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trustthe Company, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s the Company's Board of TrusteesDirectors, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Company with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust the Company with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s 's expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s the Company's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Company; (xi) prepare such financial information and reports as may be required by any banks from which each Trust the Company borrows funds; (xii) develop and implement procedures to monitor each Fund’s 's compliance with legal and regulatory requirements and with each Fund’s 's investment policies and restrictions as set forth in each Fund’s 's currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trustthe Company, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; and (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviserInvestment Adviser, the custodian, other Trust Company service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Company. Each Trust The Company agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trustthe Company, and not the Administrator, shall be responsible for and bear the costs cost of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers any third party pricing services and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Fundsany third party blue sky services.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise for the proper operation of each Trust; (ii) prepare and, subject to approval by each Trust, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s 's shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others including, but not limited to, the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s 's Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s 's expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s 's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s 's compliance with legal and regulatory requirements and with each Fund’s 's investment policies and restrictions as set forth in each Fund’s 's currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Trust hereby retains the Administrator to act as administrator of the Trust, subject to the supervision and direction of the Board of Trustees of the Trust (the "Board"), as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following such administrative and clerical servicesservices as may be necessary for administering the business affairs of the Trust, including without limitation, the following: (i) maintain provide office space, telephone, office equipment and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise supplies for the proper operation of each Trust; (ii) authorize expenditures and approve bills for payment on the Trust's behalf; (iii) supervise preparation of the periodic updating of the Trust's Registration Statement on Form N-1A; (iv) prepare and, subject to approval by each Trust, file registration statementsperiodic reports, notices, reports, tax returns correspondence and other documents required by U.S. Federalcommunications to the Trust's shareholders and supervise the filing of these as appropriate with the Securities and Exchange Commission; (v) supervise the pricing of each Fund's investment portfolio and the publication of the net asset value of shares, state earnings reports and other applicable laws financial data; (vi) monitor relationships with organizations providing services to the Trust, including the Trust's attorneys, accountants, custodian, transfer agent and printers; (vii) supervise compliance of the Trust with record-keeping requirements under the 1940 Act and regulations thereunder; (other than state “blue sky” laws)viii) maintain or cause to be maintained by a custodian and transfer agent, including proxy materials books and periodic reports to Fund shareholders, oversee records for the Trust; (ix) supervise the preparation and filing of registration statements, notices, tax reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others including, but not limited to, the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expensesreturns; (x) provide routine accounting services to the Funds, and consult with each Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement the Internal Revenue Code of Additional Information filed under the Securities Act of 19331986, as amended; and (xiiixi) arrange provide the Trust with such personnel as requested from time to time by the Trust for the performance of clerical, accounting and other office services of persons who may be appointed as officers of each described in (i) through (x), above, and for coordinating the Trust's affairs with its sub-administrator, including the Presidenttransfer agent, Vice Presidents, Treasurer, Secretary custodian and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trustdistributor. Each The Trust agrees to deliver or cause the portfolio management agent to deliver to the Administratorbe delivered, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations valuation of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholder reports and expenses borne by each Fundthe Funds, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.

Duties of the Administrator. (a) The Company hereby retains the Administrator to act as administrator of the Company and its Portfolio (each reference herein to the Company shall also be understood to refer to the Portfolio), subject to the supervision and direction of the Board of Directors of the Company, as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each Trust the Company as required by law or otherwise for the proper operation of each Trustthe Company; (ii) prepare and, subject to approval by each Trustthe Company, file registration statements, notices, reports, tax returns reports and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “blue sky” laws), including proxy materials and periodic reports to Fund Company shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds Company for compliance with state securities laws; (iii) calculate and publish publish, or arrange for the calculation and publication of, the net asset value of each Fundthe Company’s shares; (iv) calculate calculate, or arrange for the calculation of, dividends and distributions and performance data, and prepare other financial information regarding each Trustthe Company; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds Company by others includingothers, but not limited to, including the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each Trustthe Company, including, without limitation, preparation of materials necessary in connection with meetings of each Trustthe Company’s Board of TrusteesDirectors, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust the Company with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust the Company with administrative office and data processing facilities; (ix) arrange for payment of each Fundthe Company’s expenses; (x) provide routine accounting services to the FundsCompany, and consult with each Trustthe Company’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trustthe Company; (xi) prepare such financial information and reports as may be required by any banks from which each Trust the Company borrows funds; (xii) develop and implement procedures to monitor each Fundthe Company’s compliance with legal and regulatory requirements and with each Fundthe Company’s investment policies and restrictions as set forth in each Fundthe Company’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trustthe Company, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; and (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment advisermanager, the custodian, other Trust Company service providers and the Fund Company’s counsel and auditors as generally may be required to carry on properly the business and operations of each Trustthe Company. Each Trust The Company agrees to cause the portfolio management agent investment manager to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fundthe Company, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trustthe Company, and not the Administrator, shall be responsible for and bear the costs cost of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Fundsany third party pricing services or any third party blue sky services.

Duties of the Administrator. (a) The Administrator shall perform or arrange for the performance of the following administrative and clerical services: (i) maintain and preserve the books and records, including financial and corporate records, of each the Trust as required by law or otherwise for the proper operation of each the Trust; (ii) prepare and, subject to approval by each the Trust, file registration statements, notices, reports, tax returns and other documents required by U.S. Federal, state and other applicable laws and regulations (other than state “"blue sky” " laws), including proxy materials and periodic reports to Fund shareholders, oversee the preparation and filing of registration statements, notices, reports and other documents required by state “"blue sky” " laws, and oversee the monitoring of sales of shares of the Funds for compliance with state securities laws; (iii) calculate and publish the net asset value of each Fund’s 's shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each the Trust; (v) oversee and assist in the coordination of, and, as the Board may reasonably request or deem appropriate, make reports and recommendations to the Board on, the performance of administrative and professional services rendered to the Funds by others includingothers, but not limited to, including the custodian, registrar, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable; (vi) furnish corporate secretarial services to each the Trust, including, without limitation, preparation of materials necessary in connection with meetings of each the Trust’s 's Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each the Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each the Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s 's expenses; (x) provide routine accounting services to the Funds, and consult with each the Trust’s 's officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each the Trust; (xi) prepare such financial information and reports as may be required by any banks from which each the Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s 's compliance with legal and regulatory requirements and with each Fund’s 's investment policies and restrictions as set forth in each Fund’s 's currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each the Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; and (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviserInvestment Adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each the Trust. Each The Trust agrees to cause the portfolio management agent to deliver to the Administrator, on a timely basis, such information as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations of investments (which may be based on information provided by a pricing service) and records of expenses borne by each Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each the Trust, and not the Administrator, shall be responsible for and bear the costs cost of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers any third party pricing services and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Fundsany third party blue sky services.

Duties of the Administrator. (a) The Fund hereby retains the Administrator to act as administrator of the Fund, subject to the supervision and direction of the Board of Trustees of the Fund (the "Board"), as hereinafter set forth. The Administrator shall perform or arrange for the performance of the following such administrative and clerical servicesservices as may be necessary for administering the business affairs of the Fund, including without limitation, the following: (i) maintain provide office space, telephone, office equipment and preserve the books and records, including financial and corporate records, of each Trust as required by law or otherwise supplies for the proper operation of each TrustFund; (ii) authorize expenditures and approve bills for payment on the Fund's behalf; (iii) supervise preparation of the periodic updating of the Fund's Registration Statement on Form N-2; (iv) prepare and, subject to approval by each Trust, file registration statementsperiodic reports, notices, reports, tax returns correspondence and other documents required by U.S. Federalcommunications to Fund shareholders and supervise the filing of these as appropriate with the Securities and Exchange Commission; (v) supervise the pricing of the Fund's investment portfolio and the publication of the net asset value of shares, state earnings reports and other applicable laws financial data; (vii) monitor relationships with organizations providing services to the Fund, including the Fund's attorneys, accountants, custodian, transfer agent and printers; (viii) supervise compliance of the Fund with record-keeping requirements under the 1940 Act and regulations thereunder, (other than state “blue sky” laws)ix) maintain or cause to be maintained by a custodian and transfer agent, including proxy materials books and periodic reports to Fund shareholdersrecords for the Fund, oversee (x) supervise the preparation and filing of registration statements, notices, tax reports and other documents required by state “blue sky” laws, and oversee the monitoring of sales of shares of the Funds for returns; (ix) monitor compliance with state securities laws; (iii) calculate and publish the net asset value Internal Revenue Code of each Fund’s shares; (iv) calculate dividends and distributions and performance data, and prepare other financial information regarding each Trust; (v) oversee and assist in the coordination of, and1986, as amended; and (x) provide the Board may reasonably request or deem appropriate, make reports and recommendations Fund with such personnel as requested from time to time by the Board on, Fund for the performance of administrative clerical, accounting and professional other office services rendered to described in (i) through (ix), above, and for coordinating the Funds by others including, but not limited to, the custodian, registrarFund's affairs with its sub-administrator, transfer agent and dividend disbursing agent, shareholder servicing agents, accountants, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed custodian. The Fund agrees to deliver or cause to be necessary or desirable; (vi) furnish corporate secretarial services to each Trust, including, without limitation, preparation of materials necessary in connection with meetings of each Trust’s Board of Trustees, including minutes, notices of meetings, agendas and other Board materials; (vii) provide each Trust with the services of an adequate number of persons competent to perform the administrative and clerical functions described herein; (viii) provide each Trust with administrative office and data processing facilities; (ix) arrange for payment of each Fund’s expenses; (x) provide routine accounting services to the Funds, and consult with each Trust’s officers, independent accountants, legal counsel, custodian, accounting agent and transfer and dividend disbursing agent in establishing the accounting policies of each Trust; (xi) prepare such financial information and reports as may be required by any banks from which each Trust borrows funds; (xii) develop and implement procedures to monitor each Fund’s compliance with legal and regulatory requirements and with each Fund’s investment policies and restrictions as set forth in each Fund’s currently effective Prospectus and Statement of Additional Information filed under the Securities Act of 1933, as amended; (xiii) arrange for the services of persons who may be appointed as officers of each Trust, including the President, Vice Presidents, Treasurer, Secretary and one or more assistant officers; (xiv) prepare and file appropriate class action securities litigation claims on behalf of the Funds; and (xv) provide such assistance to the investment adviser, the custodian, other Trust service providers and the Fund counsel and auditors as generally may be required to carry on properly the business and operations of each Trust. Each Trust agrees to cause the portfolio management agent to deliver to the Administratordelivered, on a timely basis, such information to the Administrator as may be necessary or appropriate for the Administrator’s 's performance of its duties and responsibilities hereunder, including but not limited to, shareholder reports, records of transactions, valuations valuation of investments in United States dollars (which may be based on information provided by a pricing service) and records of shareholder reports and expenses borne by each the Fund, and the Administrator shall be entitled to rely on the accuracy and completeness of such information in performing its duties hereunder. Notwithstanding anything to the contrary herein contained, each Trust, and not the Administrator, shall be responsible for and bear the costs of other service providers such as the custodian, transfer agent, dividend disbursing agent, shareholder servicing agents, legal counsel, independent auditors, underwriters, brokers and dealers, corporate fiduciaries, insurers, printers, banks and such other persons as may be necessary for the proper operation of the Funds.