Common use of Allocation Procedures Clause in Contracts

Allocation Procedures. On each Business Day, the Interfund Lending Team shall seek to collect data on the uninvested cash of Funds listed on Schedule B. The Interfund Lending Team will seek to match the amount and term of a Fund’s borrowing needs with the cash available from the Funds that have provided Lending Instructions in accordance with allocation and administrative procedures established by the applicable Board of Trustees. The Interfund Lending Team shall allocate the borrowing demand and lending needs among the Funds on what the Interfund Lending Team deems to be an equitable basis and in accordance with the Interfund Lending Procedures. The Interfund Lending Team shall not solicit cash for Loans from any Funds or publish or disseminate loan demand data to the portfolio managers of the Funds. The Interfund Lending Team will invest all amounts remaining after satisfaction of borrowing demand in accordance with the instructions of Touchstone, or such remaining amounts will be invested directly by Touchstone. No Loan may be made unless the Interest Rate is more favorable for the Lender than the Repo Rate and more favorable for the Borrower than the Bank Loan Rate.