Common use of Duties as Administrator Clause in Contracts

Duties as Administrator. 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) 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) 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) UBS Global AM will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporations 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) 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) 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 UBS Global AM. (f) 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 Corporations Registration Statement, and will transmit such orders as are so accepted to the appropriate transfer agent as promptly as practicable; provided, however, that UBS Global AM is not obligated to sell any certain number of Shares. (g) UBS Global AM will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporations transfer agent as promptly as possible.

Duties as Administrator. UBS Global AM PaineWebber will administer the affairs of the Corporation and each Series subject to the supervision of the Board and the following understandings: (a) UBS Global AM 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) UBS Global AM 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) UBS Global AM PaineWebber will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporations Corporation's 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) UBS Global AM 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) UBS Global AM 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 UBS Global AMPaineWebber. (f) UBS Global AM 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 Corporations 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 UBS Global AM PaineWebber is not obligated to sell any certain number of Shares. (g) UBS Global AM PaineWebber will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporations Corporation's transfer agent as promptly as possible.

Duties as Administrator. 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) 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) 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) UBS Global AM will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporations Corporation’s 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) 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) 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 UBS Global AM. (f) 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 Corporations 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 UBS Global AM is not obligated to sell any certain number of Shares. (g) UBS Global AM will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporations Corporation’s transfer agent as promptly as possible.

Duties as Administrator. 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) 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 Funds affairs; (b) 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 Corporation Fund and each Series. 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; (bc) 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) 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 Corporations 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) 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) 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 UBS Global AM. ; (fg) 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 Corporations Registration StatementProspectus, and will transmit such orders as are so accepted to the appropriate Funds transfer agent as promptly as practicable; provided, however, that UBS Global AM is not obligated to sell any certain number of Shares. the shares; and (gh) 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 Corporations transfer agent of the Fund as promptly as possiblepracticable.

Duties as Administrator. 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) 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) UBS Global AM will 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) UBS Global AM will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporations 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) 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) 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 UBS Global AM. (f) With respect to any or all series of the Trust, including the Portfolios, UBS Global AM will hold itself available to receive orders for the purchase of shares of may enter into one or more contracts (each Series (Sharesa “Sub-administration Contract”) and will accept or reject such orders on behalf of the Series with sub-administrators in accordance with the Corporations Registration Statement, and will transmit such orders as are so accepted to the appropriate transfer agent as promptly as practicable; provided, however, that which UBS Global AM is not obligated delegates to sell such Sub-Administrators any certain number or all of Sharesits administrative duties specified in this Agreement, provided that the Sub-administration Contract meets any applicable requirements of the 1940 Act and rules thereunder and the sub-administrator agrees to look exclusively to UBS Global AM for payment under the Sub-administration Contract. (g) UBS Global AM will make itself available 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 Corporations transfer agent as promptly as possibleextent applicable.

Duties as Administrator. UBS Global AM will administer the affairs of the Corporation and each Series Fund subject to the supervision of the Board and the following understandings: (a) UBS Global AM will supervise all aspects of the operations of the Corporation and each SeriesFund, 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 SeriesTrust with respect to the Fund. (b) UBS Global AM will provide the Corporation and each Series Trust for the benefit of the Fund 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 SeriesFund. (c) UBS Global AM will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporations following documents of the Trust with respect to the Fund: the Trust’s Registration Statement, proxy material, tax returns and required reports with or to each Series shareholders, the Fund’s shareholders and the Securities and Exchange Commission and (“SEC”) other appropriate federal or state regulatory authorities. (d) 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. (e) 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 UBS Global AM. (f) UBS Global AM has adopted compliance policies and procedures reasonably designed to prevent violations of the Advisers Act, and the rules thereunder, has provided the Trust with a copy of such compliance policies and procedures (and will hold itself available to receive orders for provide the purchase of shares of each Series (SharesTrust with any material amendments thereto) and will accept or reject such orders on behalf of agrees to assist the Series Trust in accordance complying with the Corporations Registration StatementTrust’s compliance program adopted pursuant to Rule 38a-1 under the 1940 Act, and will transmit such orders as are so accepted to the appropriate transfer agent as promptly as practicable; provided, however, that UBS Global AM is not obligated to sell any certain number of Sharesextent applicable. (g) UBS Global AM will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporations transfer agent as promptly as possible.

Duties as Administrator. UBS Global AM PaineWebber will administer the affairs of the Corporation and each Series subject to the supervision of the Board and the following understandings: (a) UBS Global AM 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) UBS Global AM 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) UBS Global AM PaineWebber will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporations Trust's Registration StatementStatement relating to the Series, 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) UBS Global AM 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) UBS Global AM 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 UBS Global AMPaineWebber. (f) UBS Global AM 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 Corporations 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 UBS Global AM PaineWebber is not obligated to sell any certain number of Sharesshares. (g) UBS Global AM PaineWebber will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporations Trust's transfer agent as promptly as possible.

Duties as Administrator. UBS Global AM PaineWebber will administer assist in administering the Fund's affairs of the Corporation and each Series subject to the supervision of the Board Fund's board of directors and the following understandings: (a) UBS Global AM PaineWebber will supervise all aspects of the operations of the Corporation and each Series, including the oversight of transfer agency, custodial and accounting services, Fund's 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.Fund's affairs; (b) In all matters relating to the performance of this Contract, UBS Global AM PaineWebber 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 Fund's 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 PaineWebber 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 BoardFund's board of directors, including the maintenance of certain of the Fund's corporate books and records of the Corporation and each Series.records; (cd) UBS Global AM PaineWebber will arrange, but not paypay for, for the periodic preparationupdating of prospectuses, updating, filing statements of additional information and dissemination (as applicable) of the Corporations Registration Statementsupplements thereto, proxy materialmaterials, tax returns and required reports with or to each Series shareholders, the Securities Fund's shareholders and Exchange Commission and other appropriate federal or state regulatory authorities.the SEC; (de) UBS Global AM PaineWebber 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) UBS Global AM PaineWebber 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 UBS Global AM.PaineWebber; (fg) UBS Global AM 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 Fund in accordance with the Corporations Registration StatementProspectus, and will transmit such orders as are so accepted to the appropriate Fund's transfer agent as promptly as practicable; provided, however, that UBS Global AM PaineWebber is not obligated to sell any certain number of Shares.the shares; and (gh) UBS Global AM PaineWebber will make itself available to receive requests for redemption from holders of Shares shares and will transmit such redemption requests to the Corporations transfer agent of the Fund as promptly as possiblepracticable.

Duties as Administrator. 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) 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) 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) UBS Global AM will arrange, but not pay, for the periodic preparation, updating, filing and dissemination (as applicable) of the Corporations Trust’s Registration StatementStatement relating to the Series, 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) 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) 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 UBS Global AM. (f) 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 Corporations 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 UBS Global AM is not obligated to sell any certain number of Shares. (g) UBS Global AM will make itself available to receive requests for redemption from holders of Shares and will transmit such redemption requests to the Corporations Trust’s transfer agent as promptly as possible.