Common use of Description of Administration Services on a Continuous Basis Clause in Contracts

Description of Administration Services on a Continuous Basis. PFPC will perform the following administration services with respect to each Portfolio: (i) Prepare quarterly broker security transactions summaries; (ii) Prepare monthly security transaction listings; (iii) Supply various normal and customary Portfolio and Fund statistical data as requested on an ongoing basis; (iv) Prepare for execution and file the Fund's Federal and state tax returns: • Prepare a fiscal tax provision in coordination with the annual audit: • Prepare an excise tax provision; • Prepare all relevant 1099 calculations for delivery to the transfer agent. (v) Monitor each Portfolio's status as a regulated investment company under Sub-chapter M of the Internal Revenue Code of 1986, as amended; (vi) Prepare the Fund's annual and semi-annual shareholder reports, and coordinate and cause to be prepared and filed Forms N-CSR, N-Q and N-PX (with the Fund providing the voting records in the format required by PFPC); (vii) Coordinate and cause to be prepared the filing of annual Post-Effective Amendments to the Fund's Registration Statement; cause to be prepared and filed (or coordinate the filing of) (i) semi-annual reports on Form N-SAR and (ii) Notices pursuant to Rule 24f-2; (viii) Administratively assist in obtaining the fidelity bond and directors' and officers'/errors and omissions insurance policies for the Fund in accordance with the requirements of Rule 17g-1 and 17d-1(d)(7) under the 1940 Act as such bond and policies are approved by the Fund's Board of Directors and coordinate and cause to be filed such fidelity bond; (ix) Draft agendas and resolutions for quarterly board meetings (with final selection of agenda items being made by Fund counsel); (x) Coordinate the preparation, assembly and mailing of board materials for quarterly board meetings; (xi) Attend quarterly board meetings and draft minutes thereof; (xii) Maintain a regulatory calendar for the Fund listing various SEC filing and board approval deadlines; (xiii) Provide compliance policies and procedures related to services provided by PFPC and, if mutually agreed, certain PFPC affiliates, summary procedures thereof and an annual certification letter; and (xiv) If the chief executive officer or chief financial officer of the Fund is required to provide a certification as part of the Fund's Form N-SAR or Form N-CSR filing pursuant to regulations promulgated by the SEC under Section 302 of the Sarbannes-Oxley Act of 2002, PFPC will provide (to such person or entity as agreed between the Fund and PFPC) a sub-certification in support of certain matters set forth in the aforementioned certification, such sub-certification to be in such form and relating to such matters as agreed between the Fund and PFPC from time to time. PFPC shall be required to provide the sub-certification only during the term of the agreement and only if it receives such cooperation as it may request to perform its investigations with respect to the sub-certification. For clarity, the sub-certification is not itself a certification under the Sarbannes-Oxley Act of 2002 or under any other regulatory requirement. All regulatory services are subject to the review and approval of Fund counsel.

Description of Administration Services on a Continuous Basis. PFPC Highland will perform the following administration services with respect to each Portfolioservices: (i) Prepare quarterly broker security transactions summaries; (ii) Prepare monthly security transaction listings; (iiiii) Supply various normal and customary Portfolio portfolio and Fund statistical data as requested on an ongoing basis; (iviii) Prepare for execution and file the Fund's ’s Federal and state tax returns: • Prepare prepare a fiscal tax provision in coordination with the annual audit: • Prepare ; prepare an excise tax provision; • Prepare and prepare all relevant 1099 calculations for delivery to calculations; (iv) Coordinate contractual relationships and communications between the transfer agent.Fund and its contractual service providers; (v) Monitor each Portfolio's status as a regulated investment company under Sub-chapter M Coordinate printing of the Internal Revenue Code of 1986, as amended; (vi) Prepare the Fund's ’s annual and semi-annual shareholder reports, ; (vi) Prepare income and coordinate and cause to be prepared and filed Forms N-CSR, N-Q and N-PX (with the Fund providing the voting records in the format required by PFPC)capital gain distributions; (vii) Coordinate Prepare the semiannual and cause to be prepared annual financial statements; (viii) Monitor the Fund’s compliance with IRC, SEC and prospectus requirements; (ix) Prepare, coordinate with the Fund’s counsel and coordinate the filing of annual with the SEC: Post-Effective Amendments to the Fund's ’s Registration StatementStatement and supplements to or revisions of the Fund’s prospectus and statement of additional information; cause to be prepared and filed (or coordinate the filing of) (i) Quarterly Repurchase Offer Filings on Form N-23c-3; semi-annual reports on Form N-SAR and (ii) Notices pursuant to Rule 24f-2Form N-CSR; Form N-Q; and Form N-PX based upon information provided by the Fund; (viiix) Administratively assist Assist in the preparation of notices of meetings of shareholders, coordinate preparation of proxy statements, including obtaining information required to be disclosed by applicable regulations and the engagement of proxy solicitors on behalf of the Fund; (xi) Assist in obtaining the fidelity bond and directors' trustees’ and officers'/errors officers’/errors and omissions insurance policies for the Fund in accordance with the requirements of Rule 17g-1 and 17d-1(d)(7) under the 1940 Act Act, including evaluation of insurance carriers, recommending appropriate coverage levels and evaluating the costs thereof, as such bond and policies are approved by the Fund's ’s Board of Directors and coordinate and cause to be filed such fidelity bondTrustees; (ixxii) Monitor the Fund’s assets to assure adequate fidelity bond coverage is maintained; (xiii) Draft agendas and resolutions for quarterly and special board meetings (with final selection of agenda items being made by Fund counsel)meetings; (xxiv) Coordinate the preparation, assembly and mailing of board materials for quarterly board meetingsmaterials; (xixv) Attend quarterly board meetings and draft minutes thereof; (xiixvi) Maintain a regulatory the Fund’s corporate calendar for the Fund listing to assure compliance with various SEC filing and board approval deadlines; (xiiixvii) Provide compliance policies Assist the Fund in the handling of SEC examinations and procedures related to services provided by PFPC and, if mutually agreed, certain PFPC affiliates, summary procedures thereof and an annual certification letter; andresponses thereto; (xivxviii) If the chief executive officer or chief financial officer of the Fund is required to provide a certification as part of the Fund's ’s Form N-SAR CSR or Form N-CSR Q filing pursuant to regulations promulgated by the SEC under Section 302 of the Sarbannes▇▇▇▇▇▇▇▇-Oxley ▇▇▇▇▇ Act of 2002, PFPC Highland will provide (to such person or entity as agreed between the Fund and PFPCHighland) a sub-certification in support of certain matters set forth in the aforementioned certification, such sub-certification to be in such form and relating to such matters as agreed between the Fund and PFPC Highland from time to time. PFPC Highland shall be required to provide the sub-certification only during the term of the agreement Agreement and only if it receives such cooperation as it may request to perform its investigations with respect to the sub-certification. For clarity, the sub-certification is not itself a certification under the Sarbannes▇▇▇▇▇▇▇▇-Oxley ▇▇▇▇▇ Act of 2002 or under any other regulatory requirement. All regulatory ; (xix) Prepare and coordinate the Fund’s state notice filings; (xx) Furnish the Fund office space in the offices of Highland, or in such other place or places as may be agreed from time to time, and all necessary office facilities, simple business equipment, supplies, utilities and telephone service for managing the affairs of the Fund; (xxi) Perform clerical, bookkeeping and other administrative services are subject not provided by the Fund’s other service providers; (xxii) Determine or oversee the determination and publication of the Fund’s net asset value in accordance with the Fund’s policies as adopted from time to time by the Board of Trustees; (xxiii) Oversee the maintenance by the Fund’s custodian and transfer agent and dividend disbursing agent of certain books and records of the Fund as required under Rule 31a-1(b)(2)(iv) of the 1940 Act and maintain (or oversee maintenance by such other persons as approved by the Board of Trustees) such other books and records required by law or for the proper operation of the Fund; (xxiv) Determine the amounts available for distribution as dividends and distributions to be paid by the Fund to its shareholders; calculate, analyze and prepare a detailed income analysis and forecast future earnings for presentation to the review Board of Trustees; prepare and approval arrange for the printing of dividend notices to shareholder, as applicable; and provide the Fund’s dividend disbursing agent and custodian with such information as is required for such parties to effect the payment of dividends and distributions and to implement the Fund’s dividend reinvestment plan; (xxv) Serve as liaison between the Fund counseland each of its service providers; (xxvi) Assist in monitoring and tracking the daily cash flows of the individual assets of the Fund, as well as security position data of portfolio investments; assist in resolving any identified discrepancies with the appropriate third party, including the Fund’s custodian, administrative agents and other service providers, through various means including researching available data via agent notices, financial news and data services, and other sources. (xxvii) Monitor compliance with leverage tests under the Fund’s credit facility, and communicate with leverage providers and rating agencies; (xxviii) Coordinate negotiation and renewal of credit agreements for presentation to the Board of Trustees; (xxix) Coordinate negotiations of agreements with counterparties and the Fund’s custodian for derivatives, short sale and similar transactions, as applicable; (xxx) Provide assistance with the settlement of trades of portfolio securities; (xxxi) Coordinate and oversee the provision of legal services to the Fund; (xxxii) Cooperate with the Fund’s independent registered public accounting firm in connection with audits and reviews of the Fund’s financial statements, including interviews and other meetings, and provide necessary information and coordinate confirmations of bank loans and other assets for which custody is not through DTC, as necessary; (xxxiii) Provide Secretary and any Assistant Secretaries, Treasurer and any Assistant Treasurers and other officers for the Fund as requested; (xxxiv) Develop or assist in developing guidelines and procedures to improve overall compliance by the Fund; (xxxv) Investigate and research customer and other complaints to determine liability, facilitate resolution and promote equitable treatment of all parties; (xxxvi) Determine and monitor expense accruals for the Fund; (xxxvii) Authorize expenditures and approve bills for payment on behalf of the Fund; (xxxviii) Monitor the number of shares of the Fund registered and assist in the registration of additional shares, as necessary; (xxxix) Prepare such reports as the Board of Trustees of the Fund may request from time to time; and (xl) Perform such additional administrative duties relating to the administration of the Fund as may subsequently be agreed upon in writing between the Fund and Highland.

Description of Administration Services on a Continuous Basis. PFPC Highland will perform the following administration services with respect to each Portfolioservices: (i) Prepare quarterly broker security transactions summaries; (ii) Prepare monthly security transaction listings; (iiiii) Supply various normal and customary Portfolio portfolio and Fund Trust statistical data as requested on an ongoing basis; (iviii) Prepare for execution and file the Fund's Trust’s Federal and state tax returns: • Prepare prepare a fiscal tax provision in coordination with the annual audit: • Prepare ; prepare an excise tax provision; • Prepare and prepare all relevant 1099 calculations for delivery to calculations; (iv) Coordinate contractual relationships and communications between the transfer agent.Trust and its contractual service providers; (v) Monitor each Portfolio's status as a regulated investment company under Sub-chapter M Coordinate printing of the Internal Revenue Code of 1986, as amended; (vi) Prepare the Fund's Trust’s annual and semi-annual shareholder reports, ; (vi) Prepare income and coordinate and cause to be prepared and filed Forms N-CSR, N-Q and N-PX (with the Fund providing the voting records in the format required by PFPC)capital gain distributions; (vii) Coordinate Prepare the semiannual and cause to be prepared annual financial statements; (viii) Monitor the filing of annual Post-Effective Amendments to Trust’s compliance with IRC, SEC and prospectus requirements; (ix) Prepare, coordinate with the Fund's Registration Statement; cause to be prepared Trust’s counsel and filed (or coordinate the filing of) (i) with the SEC: semi-annual reports on Form N-SAR and (ii) Notices Form N-CSR; Form N-Q; and Form N-PX based upon information provided by the Trust; assist in the preparation of Forms 3, 4 and 5 pursuant to Rule 24f-2Section 16 of the 1934 Act and Section 30(h) of the 1940 Act for the officers and trustees of the Trust, such filings to be based on information provided by those persons; (viiix) Administratively assist Assist in the preparation of notices of meetings of shareholders, coordinate preparation of proxy statements, including obtaining information required to be disclosed by applicable regulations and the engagement of proxy solicitors on behalf of the Trust; (xi) Assist in obtaining the fidelity bond and directors' ’ and officers'/errors officers’/errors and omissions insurance policies for the Fund Trust in accordance with the requirements of Rule 17g-1 and 17d-1(d)(7) under the 1940 Act Act, including evaluation of insurance carriers, recommending appropriate coverage levels and evaluating the costs thereof, as such bond and policies are approved by the Fund's Trust’s Board of Directors and coordinate and cause to be filed such fidelity bondTrustees; (ixxii) Monitor the Trust’s assets to assure adequate fidelity bond coverage is maintained; (xiii) Draft agendas and resolutions for quarterly and special board meetings (with final selection of agenda items being made by Fund counsel)meetings; (xxiv) Coordinate the preparation, assembly and mailing of board materials for quarterly board meetingsmaterials; (xixv) Attend quarterly board meetings and draft minutes thereof; (xiixvi) Maintain a regulatory the Trust’s corporate calendar for the Fund listing to assure compliance with various SEC filing and board approval deadlines; (xiiixvii) Provide compliance policies Assist the Trust in the handling of SEC examinations and procedures related to services provided by PFPC and, if mutually agreed, certain PFPC affiliates, summary procedures thereof and an annual certification letter; andresponses thereto; (xivxviii) If the chief executive officer or chief financial officer of the Fund Trust is required to provide a certification as part of the Fund's Trust’s Form N-SAR CSR or Form N-CSR Q filing pursuant to regulations promulgated by the SEC under Section 302 of the Sarbannes▇▇▇▇▇▇▇▇-Oxley ▇▇▇▇▇ Act of 2002, PFPC Highland will provide (to such person or entity as agreed between the Fund Trust and PFPCHighland) a sub-certification in support of certain matters set forth in the aforementioned certification, such sub-certification to be in such form and relating to such matters as agreed between the Fund Trust and PFPC Highland from time to time. PFPC Highland shall be required to provide the sub-certification only during the term of the agreement Agreement and only if it receives such cooperation as it may request to perform its investigations with respect to the sub-certification. For clarity, the sub-certification is not itself a certification under the Sarbannes▇▇▇▇▇▇▇▇-Oxley ▇▇▇▇▇ Act of 2002 or under any other regulatory requirement. All regulatory ; (xix) Prepare and coordinate the Trust’s state notice filings; (xx) Furnish the Trust office space in the offices of Highland, or in such other place or places as may be agreed from time to time, and all necessary office facilities, simple business equipment, supplies, utilities and telephone service for managing the affairs of the Trust; (xxi) Perform clerical, bookkeeping and other administrative services are subject not provided by the Trust’s other service providers; (xxii) Determine or oversee the determination and publication of the Trust’s net asset value in accordance with the Trust’s policies as adopted from time to time by the Board of Trustees; (xxiii) Oversee the maintenance by the Trust’s custodian and transfer agent and dividend disbursing agent of certain books and records of the Trust as required under Rule 31a-l(b)(2)(iv) of the 1940 Act and maintain (or oversee maintenance by such other persons as approved by the Board of Trustees) such other books and records required by law or for the proper operation of the Trust; (xxiv) Determine the amounts available for distribution as dividends and distributions to be paid by the Fund to its shareholders; calculate, analyze and prepare a detailed income analysis and forecast future earnings for presentation to the review Board of Trustees; prepare and approval arrange for the printing of Fund counseldividend notices to shareholders, as applicable, and provide the Trust’s dividend disbursing agent and custodian with such information as is required for such parties to effect the payment of dividends and distributions and to implement the Trust’s dividend reinvestment plan; (xxv) Serve as liaison between the Trust and each of its service providers; (xxvi) Assist in monitoring and tracking the daily cash flows of the individual assets of the Trust, as well as security position data of portfolio investments; assist in resolving any identified discrepancies with the appropriate third party, including the Trust’s custodian, administrative agents and other service providers, through various means including researching available data via agent notices, financial news and data services, and other sources. (xxvii) Monitor compliance with leverage tests under the Trust’s credit facility, and communicate with leverage providers and rating agencies; (xxviii) Coordinate negotiation and renewal of credit agreements for presentation to the Board of Trustees; (xxix) Coordinate negotiations of agreements with counterparties and the Trust’s custodian for derivatives, short sale and similar transactions, as applicable; (xxx) Provide assistance with the settlement of trades of portfolio securities; (xxxi) Coordinate and oversee the provision of legal services to the Trust; (xxxii) Cooperate with the Trust’s independent registered public accounting firm in connection with audits and reviews of the Trust’s financial statements, including interviews and other meetings, and provide necessary information and coordinate confirmations of bank loans and other assets for which custody is not through DTC, as necessary; (xxxiii) Provide Secretary and any Assistant Secretaries, Treasurer and any Assistant Treasurers and other officers for the Trust as requested; (xxxiv) Develop or assist in developing guidelines and procedures to improve overall compliance by the Trust; (xxxv) Investigate and research customer and other complaints to determine liability, facilitate resolution and promote equitable treatment of all parties; (xxxvi) Determine and monitor expense accruals for the Trust; (xxxvii) Authorize expenditures and approve bills for payment on behalf of the Trust; (xxxviii) Monitor the number of shares of the Trust registered and assist in the registration of additional shares, as necessary; (xxxix) Prepare such reports as the Board of Trustees of the Trust may request from time to time; (xl) Administer and oversee any securities lending program of the Trust; and (xli) Perform such additional administrative duties relating to the administration of the Trust as may subsequently be agreed upon in writing between the Trust and Highland. Except as expressly set forth above, the Agreement will remain in full force and effect.

Description of Administration Services on a Continuous Basis. PFPC Highland will perform the following administration services with respect to each Portfolioservices: (i) Prepare quarterly broker security transactions summaries; (ii) Prepare monthly security transaction listings; (iiiii) Supply various normal and customary Portfolio and Fund Trust statistical data as requested on an ongoing basis; (iviii) Prepare for execution and file the Fund's each Portfolio’s Federal and state tax returns: • Prepare prepare a fiscal tax provision in coordination with the annual audit: • Prepare ; prepare an excise tax provision; • Prepare and prepare all relevant 1099 calculations for delivery to calculations; (iv) Coordinate contractual relationships and communications between the transfer agent.Trust and its contractual service providers; (v) Monitor Coordinate printing of each Portfolio's status as a regulated investment company under Sub-chapter M of the Internal Revenue Code of 1986, as amended; (vi) Prepare the Fund's ’s annual and semi-annual shareholder reports, ; (vi) Prepare income and coordinate and cause to be prepared and filed Forms N-CSR, N-Q and N-PX (with the Fund providing the voting records in the format required by PFPC)capital gain distributions; (vii) Coordinate Prepare the semiannual and cause to be prepared annual financial statements; (viii) Monitor the Trust’s and/or each Portfolio’s compliance with IRC, SEC and prospectus requirements; (ix) Prepare, coordinate with the Trust’s counsel and coordinate the filing of with the SEC: annual (or more frequent as the case may be) Post-Effective Amendments to the Fund's Trust’s Registration StatementStatement and supplements to, or revisions of, each Portfolio’s prospectus(es) and statement of additional information; cause to be prepared and filed (or coordinate the filing of) (i) semi-annual reports on Form N-SAR and (ii) Notices pursuant to Rule 24f-2Form N-CSR; Form N-Q; and Form N-PX based upon information provided by the Trust; (viiix) Administratively assist Assist in the preparation of notices of meetings of shareholders, coordinate preparation of proxy statements, including obtaining information required to be disclosed by applicable regulations and the engagement of proxy solicitors on behalf of the Trust or the applicable Portfolio; (xi) Assist in obtaining the fidelity bond and directors' trustees’ and officers'/errors officers’/errors and omissions insurance policies for the Fund Trust in accordance with the requirements of Rule 17g-1 and 17d-1(d)(7) under the 1940 Act Act, including evaluation of insurance carriers, recommending appropriate coverage levels and evaluating the costs thereof, as such bond and policies are approved by the Fund's Trust’s Board of Directors and coordinate and cause to be filed such fidelity bondTrustees; (ixxii) Monitor the Trust’s assets to assure adequate fidelity bond coverage is maintained; (xiii) Draft agendas and resolutions for quarterly and special board meetings (with final selection of agenda items being made by Fund counsel)meetings; (xxiv) Coordinate the preparation, assembly and mailing of board materials for quarterly board meetingsmaterials; (xixv) Attend quarterly board meetings and draft minutes thereof; (xiixvi) Maintain a regulatory the Trust’s corporate calendar for the Fund listing to assure compliance with various SEC filing and board approval deadlines; (xiiixvii) Provide compliance policies Assist the Trust in the handling of SEC examinations and procedures related to services provided by PFPC and, if mutually agreed, certain PFPC affiliates, summary procedures thereof and an annual certification letter; andresponses thereto; (xivxviii) If the chief executive officer or chief financial officer of the Fund Trust is required to provide a certification as part of the Fund's Trust’s Form N-SAR CSR or Form N-CSR Q filing pursuant to regulations promulgated by the SEC under Section 302 of the Sarbannes▇▇▇▇▇▇▇▇-Oxley ▇▇▇▇▇ Act of 2002, PFPC Highland will provide (to such person or entity as agreed between the Fund Trust and PFPCHighland) a sub-certification in support of certain matters set forth in the aforementioned certification, such sub-certification to be in such form and relating to such matters as agreed between the Fund Trust and PFPC Highland from time to time. PFPC Highland shall be required to provide the sub-certification only during the term of the agreement Agreement and only if it receives such cooperation as it may request to perform its investigations with respect to the sub-certification. For clarity, the sub-certification is not itself a certification under the Sarbannes▇▇▇▇▇▇▇▇-Oxley ▇▇▇▇▇ Act of 2002 or under any other regulatory requirement. All regulatory ; (xix) Prepare and coordinate the Trust’s state notice filings; (xx) Furnish the Trust office space in the offices of Highland, or in such other place or places as may be agreed from time to time, and all necessary office facilities, simple business equipment, supplies, utilities and telephone service for managing the affairs of the Trust; (xxi) Perform clerical, bookkeeping and other administrative services are subject not provided by the Trust’s other service providers; (xxii) Determine or oversee the determination and publication of the Trust’s net asset value in accordance with the Trust’s policies as adopted from time to time by the Board of Trustees; (xxiii) Oversee the maintenance by the Trust’s custodian and transfer agent and dividend disbursing agent of certain books and records of the Trust as required under Rule 31a-1(b)(2)(iv) of the 1940 Act and maintain (or oversee maintenance by such other persons as approved by the Board of Trustees) such other books and records required by law or for the proper operation of the Trust; (xxiv) Determine the amounts available for distribution as dividends and distributions to be paid by the Fund to its shareholders; calculate, analyze and prepare a detailed income analysis and forecast future earnings for presentation to the review Board of Trustees; prepare and approval arrange for the printing of Fund counseldividend notices to shareholders, as applicable, and provide the Trust’s dividend disbursing agent and custodian with such information as is required for such parties to effect the payment of dividends and distributions and to implement the Trust’s dividend reinvestment plan; (xxv) Serve as liaison between the Trust and each of its service providers; (xxvi) Assist in monitoring and tracking the daily cash flows of the individual assets of the Trust, as well as security position data of portfolio investments; assist in resolving any identified discrepancies with the appropriate third party, including the Trust’s custodian, administrative agents and other service providers, through various means including researching available data via agent notices, financial news and data services, and other sources. (xxvii) Monitor compliance with leverage tests under the Trust’s credit facility, and communicate with leverage providers and rating agencies; (xxviii) Coordinate negotiation and renewal of credit agreements for presentation to the Board of Trustees; (xxix) Coordinate negotiations of agreements with counterparties and the Trust’s custodian for derivatives, short sale and similar transactions, as applicable; (xxx) Provide assistance with the settlement of trades of portfolio securities; (xxxi) Coordinate and oversee the provision of legal services to the Trust; (xxxii) Cooperate with the Trust’s independent registered public accounting firm in connection with audits and reviews of the Trust’s financial statements, including interviews and other meetings, and provide necessary information and coordinate confirmations of bank loans and other assets for which custody is not through DTC, as necessary; (xxxiii) Provide Secretary and any Assistant Secretaries, Treasurer and any Assistant Treasurers and other officers for the Trust as requested; (xxxiv) Develop or assist in developing guidelines and procedures to improve overall compliance by the Trust; (xxxv) Investigate and research customer and other complaints to determine liability, facilitate resolution and promote equitable treatment of all parties; (xxxvi) Determine and monitor expense accruals for the Trust; (xxxvii) Authorize expenditures and approve bills for payment on behalf of the Trust; (xxxviii) Monitor the number of shares of the Trust registered and assist in the registration of additional shares, as necessary; (xxxix) Prepare such reports as the Board of Trustees of the Trust may request from time to time; (xl) Administer and oversee any securities lending program of the Trust; and (xli) Perform such additional administrative duties relating to the administration of the Trust as may subsequently be agreed upon in writing between the Trust and Highland. Except as expressly set forth above, the Agreement will remain in full force and effect.

Description of Administration Services on a Continuous Basis. PFPC The Administrator will perform the following administration services with respect to each PortfolioFund: (i) Prepare quarterly broker security transactions summaries; (ii) Prepare monthly security transaction listings; (iii) Supply various normal and customary Portfolio Fund and Fund Trust statistical data as requested on an ongoing basis; (iv) Prepare for execution and file filing the Fund's Trust’s Federal and state tax returns: • Prepare a fiscal tax provision in coordination with the annual audit: • Prepare an excise tax provision; • Prepare all relevant 1099 calculations for delivery to the transfer agent.; (v) Monitor each Portfolio's Fund’s status as a regulated investment company under Sub-chapter M of the Internal Revenue Code of 1986, as amended; (vi) Prepare the Fund's Trust’s financial statements for its annual and semi-annual shareholder reports, and prepare and coordinate and cause to be prepared and filed the filing of Forms N-CSR, N-Q and N-PX (with the Fund Trust providing the voting records in the format required by PFPCthe Administrator); (vii) Coordinate With the Trust’s counsel, prepare and cause to be prepared coordinate the filing of the annual Post-Effective Amendments Amendment to the Fund's Trust’s Registration StatementStatement (not including the creation of a series or class); cause to be prepared prepare and filed file (or coordinate the filing of) (i) semi-annual reports on Form N-SAR and any necessary amendments thereto and (ii) Notices pursuant to Rule 24f-2; (viii) Assist in the preparation of notices of Annual or Special Meeting of Shareholders and Proxy materials relating to such meetings; (ix) Administratively assist in obtaining the fidelity bond and directors' ’ and officers'/errors officers’/errors and omissions insurance policies for the Fund Trust in accordance with the requirements of Rule 17g-1 and 17d-1(d)(717d-1((d)7) under the 1940 Act as such bond and policies are approved by the Fund's Trust’s Board of Directors and coordinate and cause to be filed such fidelity bondTrustees; (ixx) Monitor the Trust’s assets to assure adequate fidelity bond coverage is maintained; (xi) Draft agendas and resolutions for quarterly board meetings (with final selection of agenda items being made by Fund Trust counsel)) and resolutions for quarterly board meetings; (xxii) Coordinate the preparation, assembly and mailing distribution of board materials for quarterly board meetings; (xixiii) Attend quarterly board meetings and draft minutes thereof; (xiixiv) Maintain a regulatory calendar for Report to the Fund listing various SEC filing and board approval deadlinesquarterly regarding the Administrator’s activities on behalf of the Trust; (xiiixv) Communicate and coordinate with other Trust service providers as necessary and as directed by the Trust to perform duties as the Trust’s administration and accounting services agent; (xvi) Monitor the Trust’s compliance with associated transaction amounts and conditions of each state’s blue sky qualification; (xvii) Provide compliance policies and procedures related to services provided by PFPC the Administrator and, if mutually agreed, certain PFPC of the Administrator’s affiliates, summary procedures thereof and an annual periodic certification letterletters; (xviii) Maintain the Trust’s corporate calendar to assist the Trust in complying with various SEC filing and board approval deadlines; and (xivxix) If Perform such additional regulatory services for the chief executive officer or chief financial officer of Trust on such terms and for such fees as the Fund is required to provide a certification as part of the Fund's Form N-SAR or Form N-CSR filing pursuant to regulations promulgated by the SEC under Section 302 of the Sarbannes-Oxley Act of 2002, PFPC will provide (to such person or entity as agreed between the Fund and PFPC) a sub-certification in support of certain matters set forth in the aforementioned certification, such sub-certification to be in such form and relating to such matters as agreed between the Fund and PFPC from time to time. PFPC shall be required to provide the sub-certification only during the term of the agreement and only if it receives such cooperation as it parties hereto may request to perform its investigations with respect to the sub-certification. For clarity, the sub-certification is not itself a certification under the Sarbannes-Oxley Act of 2002 or under any other regulatory requirementagree. All regulatory services are subject to the review and approval of Fund Trust counsel.

Description of Administration Services on a Continuous Basis. PFPC Highland will perform the following administration services with respect to each Portfolioservices: (i) Prepare quarterly broker security transactions summaries; (ii) Prepare monthly security transaction listings; (iiiii) Supply various normal and customary Portfolio portfolio and Fund Trust statistical data as requested on an ongoing basis; (iviii) Prepare for execution and file the Fund's Trust’s Federal and state tax returns: • Prepare prepare a fiscal tax provision in coordination with the annual audit: • Prepare ; prepare an excise tax provision; • Prepare and prepare all relevant 1099 calculations for delivery to calculations; (iv) Coordinate contractual relationships and communications between the transfer agent.Trust and its contractual service providers; (v) Monitor each Portfolio's status as a regulated investment company under Sub-chapter M Coordinate printing of the Internal Revenue Code of 1986, as amended; (vi) Prepare the Fund's Trust’s annual and semi-annual shareholder reports, ; (vi) Prepare income and coordinate and cause to be prepared and filed Forms N-CSR, N-Q and N-PX (with the Fund providing the voting records in the format required by PFPC)capital gain distributions; (vii) Coordinate Prepare the semiannual and cause to be prepared annual financial statements; (viii) Monitor the filing of annual Post-Effective Amendments to Trust’s compliance with IRC, SEC and prospectus requirements; (ix) Prepare, coordinate with the Fund's Registration Statement; cause to be prepared Trust’s counsel and filed (or coordinate the filing of) (i) with the SEC: semi-annual reports on Form N-SAR and (ii) Notices Form N-CSR; Form N-Q; and Form N-PX based upon information provided by the Trust; assist in the preparation of Forms 3, 4 and 5 pursuant to Rule 24f-2Section 16 of the 1934 Act and Section 30(h) of the 1940 Act for the officers and trustees of the Trust, such filings to be based on information provided by those persons; (viiix) Administratively assist Assist in the preparation of notices of meetings of shareholders, coordinate preparation of proxy statements, including obtaining information required to be disclosed by applicable regulations and the engagement of proxy solicitors on behalf of the Trust; (xi) Assist in obtaining the fidelity bond and directors' ’ and officers'/errors officers’/errors and omissions insurance policies for the Fund Trust in accordance with the requirements of Rule 17g-1 and 17d-1(d)(7) under the 1940 Act Act, including evaluation of insurance carriers, recommending appropriate coverage levels and evaluating the costs thereof, as such bond and policies are approved by the Fund's Trust’s Board of Directors and coordinate and cause to be filed such fidelity bondTrustees; (ixxii) Monitor the Trust’s assets to assure adequate fidelity bond coverage is maintained; (xiii) Draft agendas and resolutions for quarterly and special board meetings (with final selection of agenda items being made by Fund counsel)meetings; (xxiv) Coordinate the preparation, assembly and mailing of board materials for quarterly board meetingsmaterials; (xixv) Attend quarterly board meetings and draft minutes thereof; (xiixvi) Maintain a regulatory the Trust’s corporate calendar for the Fund listing to assure compliance with various SEC filing and board approval deadlines; (xiiixvii) Provide compliance policies Assist the Trust in the handling of SEC examinations and procedures related to services provided by PFPC and, if mutually agreed, certain PFPC affiliates, summary procedures thereof and an annual certification letter; andresponses thereto; (xivxviii) If the chief executive officer or chief financial officer of the Fund Trust is required to provide a certification as part of the Fund's Trust’s Form N-SAR CSR or Form N-CSR Q filing pursuant to regulations promulgated by the SEC under Section 302 of the Sarbannes▇▇▇▇▇▇▇▇-Oxley ▇▇▇▇▇ Act of 2002, PFPC Highland will provide (to such person or entity as agreed between the Fund Trust and PFPCHighland) a sub-certification in support of certain matters set forth in the aforementioned certification, such sub-certification to be in such form and relating to such matters as agreed between the Fund Trust and PFPC Highland from time to time. PFPC Highland shall be required to provide the sub-certification only during the term of the agreement Agreement and only if it receives such cooperation as it may request to perform its investigations with respect to the sub-certification. For clarity, the sub-certification is not itself a certification under the Sarbannes▇▇▇▇▇▇▇▇-Oxley ▇▇▇▇▇ Act of 2002 or under any other regulatory requirement. All regulatory ; (xix) Prepare and coordinate the Trust’s state notice filings; (xx) Furnish the Trust office space in the offices of Highland, or in such other place or places as may be agreed from time to time, and all necessary office facilities, simple business equipment, supplies, utilities and telephone service for managing the affairs of the Trust; (xxi) Perform clerical, bookkeeping and other administrative services are subject not provided by the Trust’s other service providers; (xxii) Determine or oversee the determination and publication of the Trust’s net asset value in accordance with the Trust’s policies as adopted from time to time by the Board of Trustees; (xxiii) Oversee the maintenance by the Trust’s custodian and transfer agent and dividend disbursing agent of certain books and records of the Trust as required under Rule 31a-1(b)(2)(iv) of the 1940 Act and maintain (or oversee maintenance by such other persons as approved by the Board of Trustees) such other books and records required by law or for the proper operation of the Trust; (xxiv) Determine the amounts available for distribution as dividends and distributions to be paid by the Fund to its shareholders; calculate, analyze and prepare a detailed income analysis and forecast future earnings for presentation to the review Board of Trustees; prepare and approval arrange for the printing of Fund counseldividend notices to shareholders, as applicable, and provide the Trust’s dividend disbursing agent and custodian with such information as is required for such parties to effect the payment of dividends and distributions and to implement the Trust’s dividend reinvestment plan; (xxv) Serve as liaison between the Trust and each of its service providers; (xxvi) Assist in monitoring and tracking the daily cash flows of the individual assets of the Trust, as well as security position data of portfolio investments; assist in resolving any identified discrepancies with the appropriate third party, including the Trust’s custodian, administrative agents and other service providers, through various means including researching available data via agent notices, financial news and data services, and other sources. (xxvii) Monitor compliance with leverage tests under the Trust’s credit facility, and communicate with leverage providers and rating agencies; (xxviii) Coordinate negotiation and renewal of credit agreements for presentation to the Board of Trustees; (xxix) Coordinate negotiations of agreements with counterparties and the Trust’s custodian for derivatives, short sale and similar transactions, as applicable; (xxx) Provide assistance with the settlement of trades of portfolio securities; (xxxi) Coordinate and oversee the provision of legal services to the Trust; (xxxii) Cooperate with the Trust’s independent registered public accounting firm in connection with audits and reviews of the Trust’s financial statements, including interviews and other meetings, and provide necessary information and coordinate confirmations of bank loans and other assets for which custody is not through DTC, as necessary; (xxxiii) Provide Secretary and any Assistant Secretaries, Treasurer and any Assistant Treasurers and other officers for the Trust as requested; (xxxiv) Develop or assist in developing guidelines and procedures to improve overall compliance by the Trust; (xxxv) Investigate and research customer and other complaints to determine liability, facilitate resolution and promote equitable treatment of all parties; (xxxvi) Determine and monitor expense accruals for the Trust; (xxxvii) Authorize expenditures and approve bills for payment on behalf of the Trust; (xxxviii) Monitor the number of shares of the Trust registered and assist in the registration of additional shares, as necessary; (xxxix) Prepare such reports as the Board of Trustees of the Trust may request from time to time; (xl) Administer and oversee any securities lending program of the Trust; and (xli) Perform such additional administrative duties relating to the administration of the Trust as may subsequently be agreed upon in writing between the Trust and Highland. Except as expressly set forth above, the Agreement will remain in full force and effect.