Administration Services and Duties Clause Samples
The "Administration Services and Duties" clause defines the responsibilities and tasks that an administrative party is required to perform under an agreement. This typically includes managing records, coordinating communications, handling documentation, and ensuring compliance with relevant procedures or regulations. For example, an administrator may be tasked with distributing reports, maintaining schedules, or overseeing the implementation of agreed-upon processes. The core function of this clause is to clearly allocate administrative responsibilities, ensuring that all parties understand who is accountable for essential organizational and procedural tasks, thereby promoting efficiency and reducing the risk of misunderstandings.
Administration Services and Duties. NTI will perform the Administration Services set forth below. NTI is responsible only for the Administration Services that it has specifically agreed to provide in this Agreement, and not for any other services unless mutually agreed to by the parties pursuant to Section 2(d) hereof.
(a) Subject to the general supervision of the Board of Trustees, NTI shall provide supervision of all aspects of the Portfolio’s operations and perform the customary services of an administrator, including but not limited to the corporate treasury, secretarial and blue sky services set forth below.
(b) In performing the Administration Services under this Agreement, NTI: (i) will act in accordance with this Agreement and the Trust’s Declaration of Trust, By-Laws, registration statement, the Trust’s and NTI’s compliance policies and procedures, as amended, and with the Oral Instructions (as defined below in Section 3) and Written Instructions (as defined below in Section 3) of the Trust and will conform to and comply with the requirements of the 1940 Act and all other applicable federal or state laws and regulations; and (ii) will consult with legal counsel to the Trust, as necessary and appropriate.
(c) In addition to the duties set forth herein, NTI shall perform such other duties and functions, and shall be paid such amounts therefor, as may from time to time be agreed upon in writing between the Trust and NTI.
(d) NTI agrees to provide the services described herein in accordance with the performance standards to be agreed upon from time to time by the parties in a separate written agreement. Notwithstanding the foregoing, NTI shall perform its duties as administrator with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims.
(e) The services of NTI hereunder are not deemed exclusive and NTI shall be free to render similar services to others so long as its services under this Agreement are not impaired thereby.
(f) Without limiting the generality of Section 2(a), NTI shall provide the following services to the Portfolio (or to any such individual share classes that are established by the Trust, as applicable):
(i) Maintaining office facilities (which may be in the offices of NTI or a corporate affiliate) and furnishing corporate officers for the Portfolio;
(ii) Furnishing data processing serv...
Administration Services and Duties. BlackRock will perform the administration and accounting services set forth below. BlackRock is responsible only for the services that it has specifically agreed to provide in the Agreement, and not for any other services.
a. Subject to the supervision and control of the Company’s Board of Trustees, BlackRock shall assist in supervising all aspects of the Funds’ operations, other than (i) those services to be performed by the custodian pursuant to the Company’s Custodian Agreement, as amended from time to time, (ii) those services to be performed by the distributor pursuant to the Company’s Distribution Agreement, as amended from time to time, (iii) those services to be performed by the transfer agent pursuant to the Company’s Transfer Agency Agreement, as amended from time to time, and (iv) those services provided under the Company’s shareholder service and distribution plans relating to the respective classes of shares of the Company’s investment portfolios and any amended or successor plans (each a “Plan”).
b. Without limiting the generality of Section 4(a), BlackRock shall provide the following services to the Funds (or to individual share classes as indicated below):
(1) The oversight and coordination of the performance of each of the service providers to the Company, including without limitation, its sub-advisers (if any), other administrators and sub-administrators (if any), transfer agent, custodian, distributor, shareholder servicing agents, legal counsel and independent auditors;
(2) Acting as liaison between the Company’s Board of Trustees and its service providers;
(3) Assisting in the preparation of materials for meetings of the Company’s Board of Trustees and shareholders;
(4) Providing general ongoing business management and support services in connection with the Company’s operations;
(5) After consultation with the distributor and counsel for the Company, determining the jurisdictions in which the Funds’ shares shall be registered or qualified for sale;
(6) Assisting in monitoring of regulatory and legislative developments which may affect the Funds; assisting in counseling the Funds with respect to regulatory examinations or investigations; and working with the Company’s counsel in connection with regulatory matters or litigation;
(7) Participating to the extent reasonably requested by the Company and its counsel in the periodic updating of the Company’s registration statement;
(8) Compiling data and accumulating information for and coord...