DUTIES OF ADS. ADS will provide the Fund with the necessary office space, communication facilities and personnel to perform the following services for the Fund:
(a) Timely calculate and transmit to NASDAQ the Fund's daily net asset value and communicate such value to the Fund and its transfer agent;
(b) Maintain and keep current all books and records of the Fund as required by Rule 31a-1 under the 1940 Act, as such rule or any successor rule may be amended from time to time ("Rule 31a-1"), that are applicable to the fulfillment of ADS's duties hereunder, as well as any other documents necessary or advisable for compliance with applicable regulations as may be mutually agreed to between the Fund and ADS. Without limiting the generality of the foregoing, ADS will prepare and maintain the following records upon receipt of information in proper form from the Fund or its authorized agents: o Cash receipts journal o Cash disbursements journal o Dividend record o Purchase and sales - portfolio securities journals o Subscription and redemption journals o Security ledgers o Broker ledger o General ledger o Daily expense accruals o Daily income accruals o Securities and monies borrowed or loaned and collateral therefore o Foreign currency journals o Trial balances
(c) Provide the Fund and its investment adviser with daily portfolio valuation, net asset value calculation and other standard operational reports as requested from time to time.
(d) Provide all raw data available from our fund accounting system (PAIRS) for management's or the administrators preparation of the following:
1. Semi-annual financial statements; 2. Semi-annual form N-SAR; 3. Annual tax returns; 4. Financial data necessary to update form N-1a; 5. Annual proxy statement.
(e) Provide facilities to accommodate annual audit and any audits or examinations conducted by the Securities and Exchange Commission or any other governmental or quasi-governmental entities with jurisdiction. ADS shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.
DUTIES OF ADS. ADS will provide the Fund with the necessary office space, communication facilities and personnel to perform the following services for the Fund:
(a) Timely calculate and transmit to NASDAQ the Fund s daily net asset value and communicate such value to the Fund and its transfer agent;
(b) Maintain and keep current all books and records of the Fund as required by Rule 31a-1 under the 1940 Act, as such rule or any successor rule may be amended from time to time ( Rule 31a-1 ), that are applicable to the fulfillment of ADS s duties hereunder, as well as any other documents necessary or advisable for compliance with applicable regulations as may be mutually agreed to between the Fund and ADS. Without limiting the generality of the foregoing, ADS will prepare and maintain the following records upon receipt of information in proper form from the Fund or its authorized agents: * Cash receipts journal * Cash disbursements journal * Dividend record * Purchase and sales - portfolio securities journals * Subscription and redemption journals * Security ledgers * Broker ledger * General ledger * Daily expense accruals * Daily income accruals * Securities and monies borrowed or loaned and collateral therefore * Foreign currency journals * Trial balances
(c) Provide the Fund and its investment adviser with daily portfolio valuation, net asset value calculation and other standard operational reports as requested from time to time.
(d) Provide all raw data available from our fund accounting system (PAIRS) for management s or the administrators preparation of the following:
1. Semi-annual financial statements 2. Semi-annual form N-SAR 3. Annual tax returns 4. Financial data necessary to update form N-1A 5. Annual proxy statement
(e) Provide facilities to accommodate annual audit and any audits or examinations conducted by the Securities and Exchange Commission or any other governmental or quasi-governmental entities with jurisdiction. ADS shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.
DUTIES OF ADS. 4 3. RECORDKEEPING..........................................................7
DUTIES OF ADS the Fund shall pay ADS within ten (10) days after receipt of an invoice from ADS at the beginning of each month, a fee equal to the greater of: CALCULATED FEE WILL BE BASED UPON PRIOR MONTH AVERAGE NET ASSETS: (No prorating partial months) NOTE: The following administrative service fees are per portfolio serviced plus out-of-pocket expenses. MINIMUM FEE: Under $5 million....................................$ 3,000 From $5 million to $10 Million...................... 3,500 From $10 million to $20 million..................... 4,000 From $20 million on................................. 4,500 OR, NET ASSET CHARGE: First $75 Million of average monthly net assets of Fund 1/12th of 0.15% (15 basis points), plus Next $75 Million of average monthly net assets of Fund 1/12th of 0.10% (10 basis points), plus Over $150 Million of average monthly net assets of Fund 1/12th of 0.07% (7 basis points).
DUTIES OF ADS. (a) Subject to the direction and control of the Board, ADS shall manage all aspects of the Corporation's operations with respect to the Funds except those that are the responsibility of any other service provider hired by the Corporation, all in such manner and to such extent as may be authorized by the Board.
(b) ADS shall provide persons suitable to the Board to serve as officers of the Corporation;
(c) ADS will provide the Fund with the adequate general office space, communication facilities and personnel to perform the services for the Fund described in this Section 2.
(d) oversee the performance of administrative and professional services rendered to the Corporation by others, including its custodian, transfer agent and dividend disbursing agent as well as legal, auditing, shareholder servicing and other services performed for the Funds, including:
(i) the preparation and maintenance by the Corporation's custodian, transfer agent, dividend disbursing agent and fund accountant in such form, for such periods and in such locations as may be required by applicable United States law, of all documents and records relating to the operation of the Corporation required to be prepared or maintained by the Corporation or its agents pursuant to applicable law;
(ii) the reconciliation of account information and balances among the Corporation's custodian, transfer agent, dividend disbursing agent and fund accountant;
(iii) the transmission of purchase and redemption orders for Shares; and
(iv) the performance of fund accounting, including the calculation of the net asset value of the Shares;
(e) assist each Fund's investment adviser in monitoring Fund holdings for compliance with Prospectus investment restrictions and assist in preparation of periodic compliance reports, as applicable;
(f) Prepare and coordinate the printing of semi-annual and annual financial statements;
(g) Prepare selected management reports for performance and compliance analyses agreed upon by the Fund and Administrator from time to time;
(h) advise the Corporation and the Board on matters concerning the Corporation and its affairs;
(i) with the cooperation of the counsel to the Corporation, the investment advisers, officers of the Trust and other relevant parties, prepare and disseminate materials for meetings of the Board, including agendas and selected financial information as agreed upon by the Fund and ADS from time to time; attend and participate in Board meetings to the extent requested...
DUTIES OF ADS. ADS will provide the Trust with the necessary office space, communication facilities and personnel to perform the following services for the Trust:
(a) Timely calculate and transmit to NASDAQ the Funds' daily net asset value and communicate such value to the Funds and their transfer agent;
(b) Maintain and keep current all books and records of the Funds as required by Rule 31a-1 under the 1940 Act, as such rule or any successor rule may be amended from time to time ("Rule 31a-1"), that are applicable to the fulfillment of ADS's duties hereunder, as well as any other documents necessary or advisable for compliance with applicable regulations as may be mutually agreed to between the Trust and ADS. Without limiting the generality of the foregoing, ADS will prepare and maintain the following records upon receipt of information in proper form from the Funds or their authorized agents: - Cash receipts journal - Cash disbursements journal
DUTIES OF ADS the Fund shall pay ADS within ten (10) days after receipt of an invoice from ADS at the beginning of each month, a fee equal to the greater of: CALCULATED FEE WILL BE BASED UPON PRIOR MONTH AVERAGE NET ASSETS: (No prorating partial months) NOTE: The following administrative service fees are per portfolio serviced plus out-of-pocket expenses. MINIMUM FEE: Under $5 million ............................. $3,000 From $5 million to $10 Million ........ 3,500 From $10 million to $20 million....... 4,000 From $20 million on......................... 4,500 OR, NET ASSET CHARGE: First $75 Million of average monthly net assets of Fund 1/12th of 0.15% (15 basis points), plus Next $75 Million of average monthly net assets of Fund 1/12th of 0.10% (10 basis points), plus Over $150 Million of average monthly net assets of Fund 1/12th of 0.07% (7 basis points). FEE INCREASES On each annual anniversary date of this Agreement, the fees enumerated above will be increased by the change in the Consumer Price Index for the Northeast region (CPI) for the twelve-month period ending with the month preceding such annual anniversary date.
DUTIES OF ADS. ADS will provide the Fund with the necessary office space, communication facilities and personnel to perform the following services for the Fund:
(a) Timely calculate and transmit to NASDAQ the Fund's daily net asset value and communicate such value to the Fund and its transfer agent. To obtain daily securities quotations for all securities in the Fund's portfolio from independent pricing services, and determination of unrealized appreciation/depreciation of portfolio securities;
(b) Maintain and keep current all books and records of the Fund as required by Rule 31a-1 under the 1940 Act, as such rule or any successor rule may be amended from time to time ("Rule 31a-1"), that are applicable to the fulfillment of ADS's duties hereunder, as well as any other documents necessary or advisable for compliance with applicable regulations as may be mutually agreed to between the Fund and ADS. Without limiting the generality of the foregoing, ADS will prepare and maintain the following records upon receipt of information in proper form from the Fund or its authorized agents: o Cash receipts journal o Cash disbursements journal o Dividend record o Purchase and sales - portfolio securities journals o Subscription and redemption journals o Security ledgers o Broker ledger o General ledger o Daily expense accruals o Daily income accruals o Securities and monies borrowed or loaned and collateral therefore o Foreign currency journals o Trial balances
(c) Provide the Fund and its investment adviser with daily portfolio valuation, net asset value calculation and other standard operational reports as requested from time to time.
(d) Provide all raw data available from our fund accounting system (PAIRS) for management's or the administrators preparation of the following:
1. Semi-annual financial statements; 2. Semi-annual form N-SAR; 3. Annual tax returns; 4. Financial data necessary to update form N-1a; 5. Annual proxy statement.
(e) Provide facilities to accommodate annual audit and any audits or examinations conducted by the Securities and Exchange Commission or any other governmental or quasi-governmental entities with jurisdiction.
(f) Verify and reconcile with the Fund's custodian bank all daily trade activity. ADS shall for all purposes herein be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Fund in any way or otherwise be deemed an agent of the Fund.
DUTIES OF ADS. ADS will provide the Fund with the necessary office space, communication facilities and personnel to perform the following services for the Fund:
(a) Timely calculate and transmit to NASDAQ the Fund's daily net asset value and communicate such value to the Fund and its transfer agent; Maintain and keep current all books and records of the Fund as required by Rule 31a-1 under the 1940 Act, as such rule or any successor rule may be amended from time to time ("Rule 31a-1"), that are applicable to the fulfillment of ADS's duties hereunder, as well as any other documents necessary or advisable for compliance with applicable regulations as may be mutually agreed to between the Fund and ADS. Without limiting the generality of the foregoing, ADS will prepare and maintain the following records upon receipt of information in proper form from the Fund or its authorized agents: Cash receipts journal Cash disbursements journal Dividend record Purchase and sales - portfolio securities journals Subscription and redemption journals Security ledgers Broker ledger General ledger Daily expense accruals Daily income accruals
DUTIES OF ADS. 2. COMPENSATION OF ADS. 3.
