Common use of Performance of Daily Accounting Services Clause in Contracts

Performance of Daily Accounting Services. Ultimus shall perform the following accounting services daily for each Fund, each in accordance with the Fund’s prospectus and statement of additional information: 1.1. calculate the net asset value per share utilizing prices obtained from the sources described in subsection 1.2 below; 1.2. obtain security prices from independent pricing services, or if such quotes are unavailable and/or have been subject to override by the Fund’s investment adviser, then obtain such prices from each Fund’s investment adviser or its designee; 1.3. verify and reconcile with the Funds’ custodian cash and all daily activity; 1.4. compute, as applicable, each Fund’s net income and realized capital gains, dividend payables, dividend factors, and weighted average portfolio maturity; 1.5. accrue income of each Fund based upon income estimates obtained from independent pricing services, or if such income estimates are unavailable, then upon income estimates obtained from each Fund’s investment adviser or its designee; 1.6. amortize premiums and accrete discounts on securities purchased at a price other than face value, if requested by the Trust; 1.7. update fund accounting system to reflect rate changes, as received/obtained by Ultimus, on variable interest rate instruments; 1.8. record investment trades received in proper form from each Fund or its authorized agents on the industry standard T+1 basis; 1.9. calculate Fund expenses based on instructions from each Fund’s administrator or entity approved by the Board; 1.10. determine the outstanding receivables and payables for all (1) security trades, (2) Fund share transactions, and (3) income and expense accounts; 1.11. provide system generated accounting reports in connection with each Fund’s regular annual audit and other audits and examinations by regulatory agencies; 1.12. provide such ad hoc periodic reports as agreed to by the parties; 1.13. prepare and maintain the following records upon receipt of information in proper form from each Fund or its authorized agents: (1) cash receipts journal; (2) cash disbursements journal; (3) dividend record; (4) purchase and sales-portfolio securities journals; (5) subscription and redemption journals; (6) security ledgers; (7) broker ledger; (8) general ledger; (9) daily expense accruals; (10) daily income accruals; (11) securities and monies borrowed or loaned and collateral therefore; (12) foreign currency journals; and (13) trial balances; 1.14. provide information typically supplied in the investment company industry to companies that track or report price, performance or other information with respect to investment companies; 1.15. provide accounting information to each Fund’s independent registered public accounting firm for preparation of the Fund’s tax returns; and 1.16. cooperate with, and take reasonable actions in the performance of its duties under this Agreement, so that all necessary information is made available to each Fund’s independent public accountants in connection with any audit or the preparation of any report requested by the Fund.

Performance of Daily Accounting Services. Ultimus shall perform the following accounting services daily for each Fund, each in accordance with the Fund’s prospectus and statement of additional information: 1.1. calculate the net asset value per share utilizing prices obtained from the sources described in subsection 1.2 below; 1.2. obtain security prices from independent pricing services, or if such quotes are unavailable and/or have been subject to override by the Fund’s investment adviser, then obtain such prices from each Fund’s investment adviser or its designee; 1.3. verify and reconcile with the Funds’ custodian cash and all daily activity; 1.4. compute, as applicable, each Fund’s net income and realized capital gains, dividend payables, dividend factors, and weighted average portfolio maturity; 1.5. accrue income of each Fund based upon income estimates obtained from independent pricing services, or if such income estimates are unavailable, then upon income estimates obtained from each Fund’s investment adviser or its designee; 1.6. amortize premiums and accrete discounts on securities purchased at a price other than face value, if requested by the Trust; 1.7. update fund accounting system to reflect rate changes, as received/obtained by Ultimus, on variable interest rate instruments; 1.8. record investment trades received in proper form from each Fund or its authorized agents on the industry standard T+1 basis; 1.91.7. calculate Fund expenses based on instructions from each Fund’s administrator or entity approved by the Board; 1.8. process share creations and redemptions with each Fund’s transfer agent; 1.9. maintain create/redeem records to the extent they are not otherwise maintained by other services providers; 1.10. determine the outstanding receivables and payables for all (1) security trades, (2) Fund share transactions, transactions and (3) income and expense accounts; 1.11. provide system generated accounting reports in connection with each Fund’s regular annual audit and other audits and examinations by regulatory agencies; 1.12. provide such ad hoc periodic reports as agreed to by the parties; 1.13. prepare and maintain the following records upon receipt of information in proper form from each Fund or its authorized agents: (1) cash receipts journal; (2) cash disbursements journal; (3) dividend record; (4) purchase and sales-portfolio securities journals; (5) subscription and redemption journals; (6) security ledgers; (7) broker ledger; (8) general ledger; (9) daily expense accruals; (10) daily income accruals; (11) securities and monies borrowed or loaned and collateral therefore; (12) foreign currency journals; and (13) trial balances; 1.14. provide information typically supplied in the investment company industry to companies that track or report price, performance or other information with respect to investment companies; 1.15. provide accounting information to each Fund’s independent registered public accounting firm for preparation of the Fund’s tax returns; and; 1.16. cooperate with, and take reasonable actions in the performance of its duties under this Agreement, so that all necessary information is made available to each Fund’s independent public accountants in connection with any audit or the preparation of any report requested by the Fund; and 1.17. provision of basket services in connection with ETF creation and redemption unit processing, including: a. receive Portfolio Listing File from investment adviser and create PCF (Portfolio Composition File) in NSCC Format; b. apply mandatory corporate actions to PCF; c. basket valuation and calculation of estimated and actual cash components; d. transmit PCF to each Fund and investment adviser as instructed; e. distribute PCF in NSCC file format to custodian for dissemination to NSCC; and f. calculate and communicate slippage in accordance with established procedure.

Performance of Daily Accounting Services. Ultimus shall perform the following accounting services daily for each Fund, each in accordance with the Fund’s prospectus and statement of additional information: 1.1. calculate the net asset value per share utilizing prices obtained from the sources described in subsection 1.2 below; 1.2. obtain security prices from independent pricing services, or if such quotes are unavailable and/or have been subject to override by the Fund’s investment adviser, then obtain such prices from each Fund’s investment adviser or its designee; 1.3. verify and reconcile with the Funds’ custodian cash and all daily activity; 1.4. compute, as applicable, each Fund’s net income and realized capital gains, dividend payables, dividend factors, and weighted average portfolio maturity; 1.5. accrue income of each Fund based upon income estimates obtained from independent pricing services, or if such income estimates are unavailable, then upon income estimates obtained from each Fund’s investment adviser or its designee; 1.6. amortize premiums and accrete discounts on securities purchased at a price other than face value, if requested by the Trust; 1.7. update fund accounting system to reflect rate changes, as received/obtained by Ultimus, on variable interest rate instruments; 1.8. record investment trades received in proper form from each Fund or its authorized agents on the industry standard T+1 basis; 1.91.7. calculate Fund expenses based on instructions from each Fund’s administrator or entity approved by the Board; 1.8. process share creations and redemptions with each Fund’s transfer agent; 1.9. maintain create/redeem records to the extent they are not otherwise maintained by other services providers; 1.10. determine the outstanding receivables and payables for all (1) security trades, (2) Fund share transactions, transactions and (3) income and expense accounts; 1.11. provide system generated accounting reports in connection with each Fund’s regular annual audit and other audits and examinations by regulatory agencies; 1.12. provide such ad hoc periodic reports as agreed to by the parties; 1.13. prepare and maintain the following records upon receipt of information in proper form from each Fund or its authorized agents: (1) cash receipts journal; (2) cash disbursements journal; (3) dividend record; (4) purchase and sales-portfolio securities journals; (5) subscription and redemption journals; (6) security ledgers; (7) broker ledger; (8) general ledger; (9) daily expense accruals; (10) daily income accruals; (11) securities and monies borrowed or loaned and collateral therefore; (12) foreign currency journals; and (13) trial balances; 1.14. provide information typically supplied in the investment company industry to companies that track or report price, performance or other information with respect to investment companies; 1.15. provide accounting information to each Fund’s independent registered public accounting firm for preparation of the Fund’s tax returns; and; 1.16. cooperate with, and take reasonable actions in the performance of its duties under this Agreement, so that all necessary information is made available to each Fund’s independent public accountants in connection with any audit or the preparation of any report requested by the Fund; and 1.17. provision of basket services in connection with ETF creation and redemption unit processing, including: a. receive Portfolio Listing File from investment adviser and create PCF (Portfolio Composition File) in NSCC Format; b. apply mandatory corporate actions to PCF; c. basket valuation and calculation of estimated and actual cash components; d. transmit PCF to each Fund and investment adviser as instructed; e. distribute PCF in NSCC file format to custodian for dissemination to NSCC; and f. calculate and communicate slippage in accordance with established procedure.