Common use of Monitoring Requirement Clause in Contracts

Monitoring Requirement. Insurer has active, formal policies and procedures aimed at deterring market timing and frequent trading activity. Such policies and procedures provide for Insurer’s ongoing review of Shareholder account activity and prescribe effective actions to deter or detect and stop such disruptive activities. However, nothing herein, nor any action by Insurer, shall be construed as, or infer that Insurer has, undertaken any duty or obligation, whether express or implied, at law or equity, to separately monitor for and detect such disruptive activities under the Fund’s policies and/or procedures.