Common use of Excessive Trader Clause in Contracts

Excessive Trader. The Transfer Agent will monitor the Fund’s fully disclosed accounts using the Excessive Trader application. The Transfer Agent shall notify the Fund when an account has reached three (3) changes in direction within a thirty (30) day trading window at dollar thresholds greater than or equal to ten thousand dollars ($10,000.00), provide an Excessive Trader Exception Report and the trading history of the potential offending account, and send correspondence to Shareholders or broker-dealers. Upon the Fund’s request, the Transfer Agent shall place purchase restrictions on accounts, provide a monthly summary of all actively restricted accounts, and remove purchase restrictions when the time limits expire. In consideration of the performance of the duties by the Transfer Agent pursuant to this Section, the Fund agrees to pay the Transfer Agent the fee set forth on Schedule 3.1 attached hereto and the reasonable reimbursable expenses that may be associated with these additional duties.”