Common use of Security Valuations Clause in Contracts

Security Valuations. For each valuation date, USBFS shall obtain prices from a pricing source approved by the Board of Trustees and apply those prices to the portfolio positions of the Fund. For those securities where market quotations are not readily available, the Board of Trustees shall approve, in good faith, procedures for determining the fair value for such securities. If the Fund desires to provide a price that varies from the price provided by the pricing source, the Fund shall promptly notify and supply USBFS with the price of any such security on each valuation date. All pricing changes made by the Fund will be in writing and must specifically identify the securities to be changed by CUSIP or other identifier used, name of security, new price or rate to be applied, and, if applicable, the time period for which the new price(s) is/are effective. When applicable, USBFS is authorized to rely on fair values provided to USBFS by the Fund or its agents without investigation or verification.