Common use of Transfer Agent shall Clause in Contracts

Transfer Agent shall. (i) maintain a comprehensive business recovery plan that: (A) is not less protective than the plan provided to the Fund as of the effective date of the Fund under regulation and/or applicable law; and (B) provides for sufficient recovery of its back office and administrative operations to enable Transfer Agent, within 24 hours or such lesser period as may be agreed upon in writing between the parties after any event necessitating the use of such plan to fulfill its obligations hereunder, and (ii) test such business recovery plan no less frequently than annually and upon request, the Fund may participate in such test. Transfer Agent will make the results of such test available to the Fund upon request for review and inspection. Transfer Agent shall maintain, at a location other than its normal location, appropriate redundant facilities for operational back-up in the event of a power failure, disaster or other interruption. Transfer Agent shall back-up the Fund's records maintained by Transfer Agent, and shall store the backup in a secure manner at a location other than its normal location, so that, in the event of a power failure, disaster or other interruption at such normal location, the records will be maintained intact and will enable Transfer Agent to perform the Services under this Agreement. In the event of a business disruption that materially impacts Transfer Agent's provision of Services under this Agreement, Transfer Agent will notify the Fund of the disruption and the steps being implemented under the business continuity plan.