Common use of Duties as Administrator Clause in Contracts

Duties as Administrator. PaineWebber will administer the affairs of the Corporation and each Series subject to the supervision of the Board and the following understandings: (a) PaineWebber will supervise all aspects of the operations of the Corporation and each Series, including the oversight of transfer agency, custodial and accounting services, except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board of its responsibility for and control of the conduct of the affairs of the Corporation and each Series. (b) PaineWebber will provide the Corporation and each Series with such corporate, administrative and clerical personnel (including officers of the Corporation) and services as are reasonably deemed necessary or advisable by the Board, including the maintenance of certain books and records of the Corporation and each Series. (c) PaineWebber will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporation's Registration Statement, proxy material, tax returns and required reports with or to each Series' shareholders, the Securities and Exchange Commission and other appropriate federal or state regulatory authorities. (d) PaineWebber will provide the Corporation and each Series with, or obtain for it, adequate office space and all necessary office equipment and services, including telephone service, heat, utilities, stationery supplies and similar items. (e) PaineWebber will provide the Board on a regular basis with economic and investment analyses and reports and make available to the Board upon request any economic, statistical and investment services normally available to institutional or other customers of PaineWebber. (f) PaineWebber will hold itself available to receive orders for the purchase of shares of each Series ("Shares") and will accept or reject such orders on behalf of the Series in accordance with the Corporation's Registration Statement, and will transmit such orders as are so accepted to the appropriate transfer agent as promptly as practicable; provided, however, that PaineWebber is not obligated to sell any certain number of Shares. (g) PaineWebber will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporation's transfer agent as promptly as possible.

Duties as Administrator. PaineWebber UBS Global AM will administer the affairs of the Corporation and each Series subject to the supervision of the Board and the following understandings: (a) PaineWebber UBS Global AM will supervise all aspects of the operations of the Corporation and each Series, including the oversight of transfer agency, custodial and accounting services, except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board of its responsibility for and control of the conduct of the affairs of the Corporation and each Series. (b) PaineWebber UBS Global AM will provide the Corporation and each Series with such corporate, administrative and clerical personnel (including officers of the Corporation) and services as are reasonably deemed necessary or advisable by the Board, including the maintenance of certain books and records of the Corporation and each Series. (c) PaineWebber UBS Global AM will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporation's Corporations Registration Statement, proxy material, tax returns and required reports with or to each Series' Series shareholders, the Securities and Exchange Commission and other appropriate federal or state regulatory authorities. (d) PaineWebber UBS Global AM will provide the Corporation and each Series with, or obtain for it, adequate office space and all necessary office equipment and services, including telephone service, heat, utilities, stationery supplies and similar items. (e) PaineWebber UBS Global AM will provide the Board on a regular basis with economic and investment analyses and reports and make available to the Board upon request any economic, statistical and investment services normally available to institutional or other customers of PaineWebberUBS Global AM. (f) PaineWebber UBS Global AM will hold itself available to receive orders for the purchase of shares of each Series ("Shares") and will accept or reject such orders on behalf of the Series in accordance with the Corporation's Corporations Registration Statement, and will transmit such orders as are so accepted to the appropriate transfer agent as promptly as practicable; provided, however, that PaineWebber UBS Global AM is not obligated to sell any certain number of Shares. (g) PaineWebber UBS Global AM will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporation's Corporations transfer agent as promptly as possible.

Duties as Administrator. PaineWebber UBS Global AM will administer the affairs of the Corporation and each Series subject to the supervision of the Board and the following understandings: (a) PaineWebber UBS Global AM will supervise all aspects of the operations of the Corporation and each Series, including the oversight of transfer agency, custodial and accounting services, except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board of its responsibility for and control of the conduct of the affairs of the Corporation and each Series. (b) PaineWebber UBS Global AM will provide the Corporation and each Series with such corporate, administrative and clerical personnel (including officers of the Corporation) and services as are reasonably deemed necessary or advisable by the Board, including the maintenance of certain books and records of the Corporation and each Series. (c) PaineWebber UBS Global AM will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporation's ’s Registration Statement, proxy material, tax returns and required reports with or to each Series' ’ shareholders, the Securities and Exchange Commission and other appropriate federal or state regulatory authorities. (d) PaineWebber UBS Global AM will provide the Corporation and each Series with, or obtain for it, adequate office space and all necessary office equipment and services, including telephone service, heat, utilities, stationery supplies and similar items. (e) PaineWebber UBS Global AM will provide the Board on a regular basis with economic and investment analyses and reports and make available to the Board upon request any economic, statistical and investment services normally available to institutional or other customers of PaineWebberUBS Global AM. (f) PaineWebber UBS Global AM will hold itself available to receive orders for the purchase of shares of each Series ("“Shares"”) and will accept or reject such orders on behalf of the Series in accordance with the Corporation's ’s Registration Statement, and will transmit such orders as are so accepted to the appropriate transfer agent as promptly as practicable; provided, however, that PaineWebber UBS Global AM is not obligated to sell any certain number of Shares. (g) PaineWebber UBS Global AM will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporation's ’s transfer agent as promptly as possible.

Duties as Administrator. PaineWebber The Manager will administer assist in administering the affairs of the Corporation and each Series AMR Trust subject to the supervision of the Board of Trustees and the following understandings: (a) PaineWebber The Manager will supervise all aspects of the operations of the Corporation and each Series, including the oversight of transfer agency, custodial and accounting services, AMR Trust except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board of Trustees of its responsibility for and control of the conduct of the affairs of the Corporation and each SeriesAMR Trust's affairs. (b) PaineWebber The Manager will investigate and, with appropriate approval of the Board of Trustees, select necessary service companies to conduct certain operations of the AMR Trust, including the AMR Trust's custodian, transfer agent, dividend disbursing agent, independent public accountant and attorney. (c) The Manager will provide the Corporation and each Series AMR Trust with such corporate, administrative and clerical personnel (including officers of the Corporation) and services as are reasonably deemed necessary or advisable by the BoardBoard of Trustees, including the maintenance of certain books and records of the Corporation AMR Trust and each SeriesPortfolio which are not maintained by the AMR Trust's custodian or any Adviser. (cd) PaineWebber The Manager will arrange, but not pay, for the periodic preparation, updating, filing updating of prospectuses and dissemination (as applicable) statements of the Corporation's Registration Statementadditional information and supplements thereto, proxy material, tax returns and required reports with or to each Series' shareholders, shareholders and the Securities and Exchange Commission and other appropriate federal or state regulatory authoritiesCommission. (de) PaineWebber The Manager will provide the Corporation and each Series AMR Trust with, or obtain for it, adequate office space and all necessary office equipment and services, including telephone service, heat, utilities, stationery supplies and similar items. (e) PaineWebber will provide the Board on a regular basis with economic and investment analyses and reports and make available to the Board upon request any economic, statistical and investment services normally available to institutional or other customers of PaineWebber. (f) PaineWebber The Manager will hold itself available to receive orders for the purchase of shares of each Series ("Shares") and will accept or reject such orders on behalf of the Series in accordance with the Corporation's Registration Statement, and will transmit such orders as are so accepted respond to the appropriate transfer agent as promptly as practicable; provided, however, that PaineWebber is not obligated to sell any certain number of Sharesshareholder inquiries. (g) PaineWebber will make itself available Any of the foregoing functions with respect to receive requests for redemption from holders any or all Portfolios may be delegated by the Manager, at the Manager's expense, to another appropriate party (including an affiliated party), subject to such approval by the Board of Shares Trustees. The Manager shall oversee the performance of delegated functions by any such party and will transmit such redemption requests shall furnish to the Corporation's transfer agent as promptly as possibleAMR Trust with quarterly evaluations and analyses concerning the performance of delegated responsibilities by those parties.

Duties as Administrator. PaineWebber The Manager will administer assist in administering the affairs of the Corporation and each Series Mileage Trust subject to the supervision of the Board of Trustees and the following understandings: (a) PaineWebber The Manager will supervise all aspects of the operations of the Corporation and each Series, including the oversight of transfer agency, custodial and accounting services, Mileage Trust except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board of Trustees of its responsibility for and control of the conduct of the affairs of the Corporation and each SeriesMileage Trust's affairs. (b) PaineWebber The Manager will investigate and, with appropriate approval of the Board of Trustees, select necessary service companies to conduct certain operations of the Mileage Trust, including the Mileage Trust's custodian, transfer agent, dividend disbursing agent, distributor, independent public accountant and attorney. (c) The Manager will provide the Corporation and each Series Mileage Trust with such corporate, administrative and clerical personnel (including officers of the Corporation) and services as are reasonably deemed necessary or advisable by the BoardBoard of Trustees, including the maintenance of certain books and records of the Corporation Mileage Trust and each SeriesPortfolio which are not maintained by the Mileage Trust's custodian or any Adviser. (cd) PaineWebber The Manager will arrange, but not pay, for the periodic preparation, updating, filing updating of prospectuses and dissemination (as applicable) statements of the Corporation's Registration Statementadditional information and supplements thereto, proxy material, tax returns and required reports with or to each Series' shareholders, shareholders and the Securities and Exchange Commission and other appropriate federal or state regulatory authoritiesCommission. (de) PaineWebber The Manager will provide the Corporation and each Series Mileage Trust with, or obtain for it, adequate office space and all necessary office equipment and services, including telephone service, heat, utilities, stationery supplies and similar items. (e) PaineWebber will provide the Board on a regular basis with economic and investment analyses and reports and make available to the Board upon request any economic, statistical and investment services normally available to institutional or other customers of PaineWebber. (f) PaineWebber The Manager will hold itself available to receive orders for the purchase of shares of each Series ("Shares") and will accept or reject such orders on behalf of the Series in accordance with the Corporation's Registration Statement, and will transmit such orders as are so accepted respond to the appropriate transfer agent as promptly as practicable; provided, however, that PaineWebber is not obligated to sell any certain number of Sharesshareholder inquiries. (g) PaineWebber will make itself available Any of the foregoing functions with respect to receive requests for redemption from holders any or all Portfolios may be delegated by the Manager, at the Manager's expense, to another appropriate party (including an affiliated party), subject to such approval by the Board of Shares Trustees. The Manager shall oversee the performance of delegated functions by any such party and will transmit such redemption requests shall furnish to the Corporation's transfer agent as promptly as possibleMileage Trust with quarterly evaluations and analyses concerning the performance of delegated responsibilities by those parties.

Duties as Administrator. PaineWebber will administer the affairs of the Corporation and each Series subject to the supervision of the Board and the following understandings: (a) PaineWebber will supervise all aspects of the operations of the Corporation and each Series, including the oversight of transfer agency, custodial and accounting services, except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board of its responsibility for and control of the conduct of the affairs of the Corporation and each Series. (b) PaineWebber will provide the Corporation and each Series with such corporate, administrative and clerical personnel (including officers of the CorporationTrust) and services as are reasonably deemed necessary or advisable by the Board, including the maintenance of certain books and records of the Corporation and each Series. (c) PaineWebber will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the CorporationTrust's Registration StatementStatement relating to the Series, proxy material, tax returns and required reports with or to each Series' shareholders, the Securities and Exchange Commission and other appropriate federal or state regulatory authorities. (d) PaineWebber will provide the Corporation and each Series with, or obtain for it, adequate office space and all necessary office equipment and services, including telephone service, heat, utilities, stationery supplies and similar items. (e) PaineWebber will provide the Board on a regular basis with economic and investment analyses and reports and make available to the Board upon request any economic, statistical and investment services normally available to institutional or other customers of PaineWebber. (f) PaineWebber will hold itself available to receive orders for the purchase of shares of each Series ("Shares") and will accept or reject such orders on behalf of the Series in accordance with the CorporationTrust's Registration Statement, and will transmit such orders as are so accepted to the appropriate transfer agent as promptly as practicable; provided, however, that PaineWebber is not obligated to sell any certain number of Sharesshares. (g) PaineWebber will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the CorporationTrust's transfer agent as promptly as possible.

Duties as Administrator. PaineWebber UBS Global AM will administer the affairs of the Corporation and each Series subject to the supervision of the Board and the following understandings: (a) PaineWebber UBS Global AM will supervise all aspects of the operations of the Corporation and each Series, including the oversight of transfer agency, custodial and accounting services, except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board of its responsibility for and control of the conduct of the affairs of the Corporation and each Series. (b) PaineWebber UBS Global AM will provide the Corporation and each Series with such corporate, administrative and clerical personnel (including officers of the CorporationTrust) and services as are reasonably deemed necessary or advisable by the Board, including the maintenance of certain books and records of the Corporation and each Series. (c) PaineWebber UBS Global AM will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporation's Trust’s Registration StatementStatement relating to the Series, proxy material, tax returns and required reports with or to each Series' ’ shareholders, the Securities and Exchange Commission and other appropriate federal or state regulatory authorities. (d) PaineWebber UBS Global AM will provide the Corporation and each Series with, or obtain for it, adequate office space and all necessary office equipment and services, including telephone service, heat, utilities, stationery supplies and similar items. (e) PaineWebber UBS Global AM will provide the Board on a regular basis with economic and investment analyses and reports and make available to the Board upon request any economic, statistical and investment services normally available to institutional or other customers of PaineWebberUBS Global AM. (f) PaineWebber UBS Global AM will hold itself available to receive orders for the purchase of shares of each Series ("“Shares"”) and will accept or reject such orders on behalf of the Series in accordance with the Corporation's Trust’s Registration Statement, and will transmit such orders as are so accepted to the appropriate transfer agent as promptly as practicable; provided, however, that PaineWebber UBS Global AM is not obligated to sell any certain number of Shares. (g) PaineWebber UBS Global AM will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporation's Trust’s transfer agent as promptly as possible.

Duties as Administrator. PaineWebber UBS Global AM will administer assist in administering the Funds affairs of the Corporation and each Series subject to the supervision of the Board Funds board of directors and the following understandings: (a) PaineWebber UBS Global AM will supervise all aspects of the operations of the Corporation and each Series, including the oversight of transfer agency, custodial and accounting services, Funds operation except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board board of directors of the Fund of its responsibility for and control of the conduct of the affairs of the Corporation and each Series. Funds affairs; (b) PaineWebber In all matters relating to the performance of this Contract, UBS Global AM will act in conformity with the Articles of Incorporation, By-Laws and the Prospectus and Statement of Additional Information of the Fund and with the instructions and directions of the Funds board of directors and will conform to and comply with the requirements of the 1940 Act and all other applicable Federal or state laws or regulations; (c) UBS Global AM will provide the Corporation and each Series Fund with such corporate, administrative and clerical personnel (including officers of the Corporation) and services as are reasonably deemed necessary or advisable by the BoardFunds board of directors, including the maintenance of certain of the Funds corporate books and records of the Corporation and each Series. records; (cd) PaineWebber UBS Global AM will arrange, but not paypay for, for the periodic preparationupdating of prospectuses, updating, filing statements of additional information and dissemination (as applicable) of the Corporation's Registration Statementsupplements thereto, proxy materialmaterials, tax returns and required reports with or to each Series' shareholders, the Securities Funds shareholders and Exchange Commission and other appropriate federal or state regulatory authorities. the SEC; (de) PaineWebber UBS Global AM will provide the Corporation and each Series Fund with, or obtain for it, adequate office space and all necessary office equipment and services, including telephone service, heat, utilities, stationery supplies and similar items. ; (ef) PaineWebber UBS Global AM will provide the Board board of directors of the Fund on a regular basis with economic and investment analyses and reports and make available to the Board board upon request any economic, statistical and investment services normally available to institutional or other customers of PaineWebber. UBS Global AM; (fg) PaineWebber UBS Global AM will hold itself available to receive orders for the purchase of shares of each Series ("Shares") and will accept or reject such orders on behalf of the Series Fund in accordance with the Corporation's Registration StatementProspectus, and will transmit such orders as are so accepted to the appropriate Funds transfer agent as promptly as practicable; provided, however, that PaineWebber UBS Global AM is not obligated to sell any certain number of Shares. the shares; and (gh) PaineWebber UBS Global AM will make itself available to receive requests for redemption from holders of Shares shares and will transmit such redemption requests to the Corporation's transfer agent of the Fund as promptly as possiblepracticable.

Duties as Administrator. PaineWebber UBS Global AM will administer the affairs of the Corporation Trust and each Series Portfolio subject to the supervision of the Board and the following understandings: (a) PaineWebber UBS Global AM will supervise all aspects of the operations of the Corporation Trust and each SeriesPortfolio, including the oversight of transfer agency, custodial and accounting services, except as hereinafter set forth; provided, however, that nothing herein contained shall be deemed to relieve or deprive the Board of its responsibility for and control of the conduct of the affairs of the Corporation Trust and each SeriesPortfolio. (b) PaineWebber will UBS Global AM shall provide the Corporation Trust and each Series Portfolio with such corporate, administrative and clerical personnel (including officers of the CorporationTrust) and services as are reasonably deemed necessary or advisable by the Board, including the maintenance of certain books and records of the Corporation Trust and each SeriesPortfolio. (c) PaineWebber UBS Global AM will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporation's Trust’s Registration Statement, proxy material, tax returns and required reports with or to each Series' shareholders, Portfolio’s shareholders and the Securities and Exchange Commission and other appropriate federal or state regulatory authorities. (d) PaineWebber UBS Global AM will provide the Corporation Trust and each Series Portfolio with, or obtain for it, adequate office space and all necessary office equipment and services, including telephone service, heat, utilities, stationery supplies and similar items. (e) PaineWebber UBS Global AM will provide the Board Board, on a regular basis basis, with economic and investment analyses and reports and make available to the Board upon request any economic, statistical and investment services normally available to institutional or other customers of PaineWebberUBS Global AM. (f) PaineWebber will hold itself available With respect to receive orders for the purchase of shares of each Series ("Shares") and will accept any or reject such orders on behalf all series of the Series Trust, including the Portfolios, UBS Global AM may enter into one or more contracts (each a “Sub-administration Contract”) with sub-administrators in accordance with which UBS Global AM delegates to such Sub-Administrators any or all of its administrative duties specified in this Agreement, provided that the Corporation's Registration Statement, Sub-administration Contract meets any applicable requirements of the 1940 Act and will transmit such orders as are so accepted rules thereunder and the sub-administrator agrees to look exclusively to UBS Global AM for payment under the appropriate transfer agent as promptly as practicable; provided, however, that PaineWebber is not obligated to sell any certain number of SharesSub-administration Contract. (g) PaineWebber will make itself available UBS Global AM has adopted compliance policies and procedures reasonably designed to receive requests for redemption from holders prevent violations of Shares the Investment Advisers Act of 1940, as amended, and the rules thereunder, has provided the Trust with a copy of such compliance policies and procedures (and will transmit such redemption requests provide the Trust with any material amendments thereto) and agrees to assist the Trust in complying with the Trust’s compliance program adopted pursuant to Rule 38a-1 under the 1940 Act, to the Corporation's transfer agent as promptly as possibleextent applicable.