Common use of Compliance Testing Clause in Contracts

Compliance Testing. Adviser agrees that Sub-Adviser is not the compliance agent for the Trust, the Fund or Adviser, that it may not have access to all of the books and records of the Fund necessary to perform certain compliance testing, and that it will not be obligated to request any books and records of a Fund not in Sub-Adviser’s possession for purposes of compliance testing. In no event shall Sub-Adviser be responsible for compliance testing with respect to any assets of a Fund other than the Subadvised Assets.

Compliance Testing. Adviser agrees that Sub-Adviser is not the compliance agent for the Trust, the Fund or Adviser, that it may not have access to all of the books and records of the Fund necessary to perform certain compliance testing, and that it will not be obligated to request any books and records of a the Fund not in Sub-Adviser’s possession for purposes of compliance testing. In no event shall Sub-Adviser be responsible for compliance testing with respect to any assets of a the Fund other than the Subadvised Assets.