ADMINISTRATION AND OVERSIGHT OF THE REDI FUND Sample Clauses

ADMINISTRATION AND OVERSIGHT OF THE REDI FUND. A. Administrative Agent. Day-to-day REDI Fund activities and operations will be administered by an Administrative Agent chosen by the Executives of the Parties. 1) The role and duties of the Administrative Agent and the process for selecting and replacing the Administrative Agent, if necessary, will be specified in the Master Credit Agreement. 2) The Administrative Agent will maintain all REDI Fund financial records and submit all reports required by the REDI Oversight Committee in a form that is acceptable to that Committee. 3) The Administrative Agent will staff the REDI committees and provide regular reports for such committees and for fund investors, as specified in the Master Credit Agreement. Annual reports, including a report in an acceptable format for the State of Washington, will be available to the REDI Fund public funders, committees and the Executives of the Parties, to deliver to the State and their stakeholders. 4) The Administrative Agent will have the lead role in obtaining second and third tier mission investors and senior debt investors to the fund, maintaining investor relations and exploring options to expand and/or replace capital as needed. 5) Compensation of the Administrative Agent through the REDI Fund shall be detailed in the Master Credit Agreement.
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