DUTIES OF GFS. GFS’s duties with respect to Fund Accounting, Fund Administration and Transfer Agency services are detailed in Appendices I, II and III to this Agreement.
(a) In order for GFS to perform the Services, the Trust (i) shall cause all service providers to the Funds of the Trust to furnish any and all information to GFS, and assist GFS as may be required and (ii) shall ensure that GFS has access to all records and documents maintained by the Trust or any service provider to the Trust or a Fund of the Trust.
(b) GFS 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 Trust in any way or otherwise be deemed an agent of the Trust.
(c) Whenever, in the course of performing its duties under this Agreement, GFS determines, on the basis of information supplied to GFS by the Trust, that a violation of applicable law has occurred, or that, to its knowledge, a possible violation of applicable law may have occurred, or with the passage of time could occur, GFS shall promptly notify the Trust and its legal counsel of such violation.
DUTIES OF GFS. ADMINISTRATION
(a) Subject to the direction and control of the Board, GFS shall manage all aspects of the Trust’s operations with respect to the Funds except those that are the responsibility of any other service provider hired by the Trust, all in such manner and to such extent as may be authorized by the Board;
(b) GFS shall provide persons suitable to the Board to serve as officers of the Trust;
(c) GFS will provide the Trust with the adequate general office space, communication facilities and personnel to perform the services for the Trust described in this Section 2;
(d) Oversee the performance of administrative and professional services rendered to the Trust by others, including its custodian, transfer agent and dividend disbursing agent as well as legal, auditing, shareholder servicing and other services performed for the Trust, including:
(i) the preparation and maintenance by the Trust'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 Trust required to be prepared or maintained by the Trust or its agents pursuant to applicable law;
(ii) the reconciliation of account information and balances among the Trust'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 Trust and Administrator from time to time;
(h) Advise the Trust and the Board on matters concerning the Trust and its affairs;
(i) With the cooperation of the counsel to the Trust, 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 Trust and GFS from time to time; attend and participate in Board meetings to the extent requested by the Board; and prepare or cause to be prepa...
DUTIES OF GFS. GFS’s duties with respect to Sub-Fund Accounting and Fund Sub-Administration services are detailed in Appendices I and II to this Agreement.
(a) In order for GFS to perform the Services, EMG shall (or shall cause the Trust to) (i) cause all service providers to the Trust and/or each Fund to furnish any and all necessary information to GFS, and assist GFS as may be required and (ii) ensure that GFS has access to all records and documents that GFS needs to perform the Services and that are maintained by the Trust and the Funds or any service provider to the Trust or any Fund.
(b) GFS 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 EMG or the Trust in any way or otherwise be deemed an agent of EMG or the Trust.
(c) Whenever, in the course of performing its duties under this Agreement, GFS determines,on the basis of information supplied to GFS by EMG or the Trust, that a violation of applicable law has occurred, or that, to its knowledge, a possible violation of applicable law may have occurred, or with the passage of time could occur, GFS shall promptly notify EMG and the Trust’s chief compliance officer and legal counsel of such violation.
DUTIES OF GFS. SECTION 3.
DUTIES OF GFS. The Funds shall pay GFS within ten (10) days after receipt of an invoice from GFS at the beginning of each month, a fee equal or the greater of: 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 GFS. GFS 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 GFS'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 GFS. Without limiting the generality of the foregoing, GFS 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 * 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
DUTIES OF GFS. GFS 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;
DUTIES OF GFS. The Funds shall pay GFS within ten (10) days after receipt of an invoice from GFS at the beginning of each month, a fee equal or the greater of: NOTE: The following administrative service fees are per portfolio serviced plus out-of-pocket expenses. MINIMUM FEE: Under $5 million………………………$___ From $5 million to $10 million…………___ From $10 million to $20 million………..___ From $20 million on…………………….___ OR, NET ASSET CHARGE: · First $75 Million of average monthly net assets of Fund 1/12th of ___% (___ basis points), plus · Next $75 Million of average monthly net assets of Fund 1/12th of ___% (___ basis points), plus · Over $150 Million of average monthly net assets of Fund 1/12th of ___% (___ basis points).
DUTIES OF GFS. GFS shall provide services are detailed in Appendices I, II and III to this Agreement.
(a) In order for GFS to perform the Services, the Trust (i) shall cause the service providers to the Funds of the Trust to furnish any and all information to GFS, and assist GFS, as may be reasonably required and (ii) shall grant GFS access to the records and documents maintained by or on behalf of the Trust, as may be reasonably required.
(b) GFS 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 Trust in any way or otherwise be deemed an agent of the Trust.
(c) GFS shall promptly, after obtaining knowledge thereof, use its commercially reasonable efforts to correct any errors that have been made in connection with its Services rendered hereunder, including errors of judgment or mistakes of law, in accordance with the Trust’s applicable policies and procedures. Whenever, in the course of performing its duties under this Agreement, GFS determines, on the basis of information supplied to GFS by the Trust, that a violation of applicable law has occurred, or that, to its knowledge, a possible violation of applicable law may have occurred, or with the passage of time could occur, GFS shall promptly notify the Trust’s Chief Compliance Officer (“CCO”) and legal counsel of such violation.
(d) GFS shall use reasonable efforts to provide the Services at all times, provided that if GFS is required to incur additional costs in doing so (other than costs that it would have had to incur in the ordinary course of providing the Services), GFS shall promptly notify the Trust and the Trust shall reimburse those costs to GFS to the extent that they have been reasonably incurred (and GFS used reasonable efforts to mitigate such costs) or they have been agreed in advance between the parties.
(e) Nothing contained herein shall be construed to require GFS to perform any service that could cause it to be deemed an investment adviser for purposes of the 1940 Act, or that could cause a Fund to act in contravention of the Prospectus, the Organizational Documents or any law. The Trust on behalf of each Fund acknowledges and agrees that (i) the summaries of the Services set out in the Appendices are intended to define the scope of the services to be provided; and (ii) the procedures, features, functionalities, systems and/or facilities that support the provision of the ...
DUTIES OF GFS. GFS 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 GFS'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 GFS. Without limiting the generality of the foregoing, GFS 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 Dividend record Purchase and sales - portfolio securities journals Subscription and redemption journals Security ledgers
