Common use of Securities Pricing Clause in Contracts

Securities Pricing. The Administrator shall update each security position of each Portfolio as to the following: • Market prices obtained from approved sources including those listed on Appendix D or Fair Valuations obtained from an Authorized Person of the Fund • Xxxx to market of non-base receivables/payables utilizing approved foreign exchange quotations as quoted in Appendix D • Xxxx to market of non-base currency positions utilizing the approved sources quoted in Appendix D or Fair Valuations obtained from an Authorized Person of the Fund Investment Accounting. The Administrator shall provide the following investment accounting services to each Portfolio: • Amortization/accretion at the individual tax lot level • General ledger entries • Book value calculations • Trade Date + 1 accounting • Calculation of Net Asset Value Per Share (“NAV”) as of the close of business of the NYSE Tax Services. The Administrator shall provide the following tax reporting services: • Prepare fiscal year end and excise tax distribution calculations; • Prepare monthly, quarterly and annual income distributions as described in each Portfolio’s prospectus • Prepare annual capital gain distribution(s) including spillback amounts as required • Prepare tax-related ROCSOP entries for fund accounting purposes • Review required tax disclosures (such as tax cost, long term capital gain and tax exempt designation, foreign tax credits, dividend received deductions and qualified dividend income pass throughs) in the Fund’s financial statements • Initiate the preparation of federal, state and local (if any) income tax returns, including tax return extension requests. Fund auditors will review and sign returns as “paid preparer”. Xxxx Xxxxx Management, Inc., on behalf of the Fund, will sign and file returns. · • Prepare shareholder year-end tax information • Calculate the amounts and characterizations of distributions declared during the calendar year for Form 1099/DIV reporting • Consult with the Fund’s Authorized Persons regarding potential tax adjustments. The Fund will be responsible for identification of all passive foreign investment companies (“PFICs”) and verification of the accuracy of the information provided on the K-ls received for investments in the Funds. • Prepare and maintain schedules of differences required for tax purposes including, but not limited to, wash sales, CPDI, REITs, partnerships, PFICs and straddles • Consult with the Fund’s Authorized Persons on various tax issues as requested and with the Fund’s independent public accountant when appropriate • Prepare wash sales calculations for tax purposes using GainsKeeper for each Portfolio Receive and respond to routine letters from the IRS and state revenue agencies, and consult with, and differ to, the Trustee on any in depth communication that may require input from counsel.