Duties of the Bank. The Bank shall perform the following functions:
Duties of the Bank. 1.1 Subject to the terms and conditions set forth in this Agreement, the Bank shall act as the Transfer Agent's sub-transfer agent for Shares in connection with any accumulation plan, open account, dividend reinvestment plan, retirement plan or similar plan provided to Shareholders and set out in each Fund's currently effective prospectus and statement of additional information ("Prospectus"), including without limitation any periodic investment plan or periodic withdrawal program. As used herein the term '"Shares" means the authorized and issued shares of common stock, or shares of beneficial interest, as the case may be, for each Fund listed in Schedule A. In accordance with procedures established from time to time by agreement between the Transfer Agent and the Bank, the Bank shall provide the services listed in this Section 1.
Duties of the Bank. Subject to the supervision and direction of the Fund, the Bank will perform the services described in Appendix B. The Bank may, from time to time, perform additional duties and functions, which shall be set forth in an amendment to this Agreement. In performing all services under this Agreement, the Bank shall act in conformity with the Charter and By-Laws and applicable law, as the same may be amended from time to time. Instructions will be provided to the Bank by the Fund’s Treasurer or Assistant Treasurer or by designated employees of the Fund’s investment adviser or administrator, Xxxxx Xxxxx Management (“Xxxxx Xxxxx”) (such instructions, “Proper Instructions”). For funds domiciled outside the United States, the Bank acknowledges that instructions may also be provided by an offshore shareholder servicing agent. Notwithstanding any item discussed herein, the Bank has no discretion over the Fund’s assets or choice of investments and cannot be held liable for any problem relating to such investments.
Duties of the Bank. 1.1 Subject to the terms and conditions set forth in this Agreement, the Bank shall act as the Transfer Agent's sub-transfer agent for Shares in connection with any accumulation plan, open account, dividend reinvestment plan, retirement plan or similar plan provided to Shareholders and set out in each Fund's currently effective prospectus and statement of additional information ("Prospectus"), including without limitation any periodic investment plan or periodic withdrawal program. As used herein the term '"Shares" means the authorized and issued shares of common stock, or shares of beneficial interest, as the case may be, for each Fund listed in Schedule A. In accordance with procedures established from time to time by agreement between the Transfer Agent and the Bank, the Bank shall provide the services listed in this Section 1.
(a) The Bank shall:
(i) receive for acceptance, orders for the purchase of Shares, and promptly deliver payment and appropriate documentation thereof to the Custodian of each Fund authorized pursuant to the Articles of Incorporation or organization of each Fund (the "Custodian");
(ii) pursuant to purchase orders, issue the appropriate number of Shares and hold such Shares in the appropriate Shareholder account;
(iii) receive for acceptance redemption requests and redemption directions and deliver the appropriate documentation thereof to the Custodian;
(iv) in respect to the transactions in items (i),
Duties of the Bank. 14.1 Performance of Duties and Standard of Care. In performing its duties hereunder and any other duties listed on any Schedule hereto, if any, the Bank will be entitled to receive and act upon the advice of independent counsel of its own selection, which may be counsel for the Fund, and will be without liability for any action taken or thing done or omitted to be done in accordance with this Agreement in good faith in conformity with such advice. The Bank will be under no duty or obligation to inquire into and will not be liable for:
(a) the validity of the issue of any Portfolio Securities purchased by or for the Fund, the legality of the purchases thereof or the propriety of the price incurred therefor;
(b) the legality of any sale of any Portfolio Securities by or for the Fund or the propriety of the amount for which the same are sold;
(c) the legality of an issue or sale of any common shares of the Fund or the sufficiency of the amount to be received therefor;
(d) the legality of the repurchase of any common shares of the Fund or the propriety of the amount to be paid therefor;
(e) the legality of the declaration of any dividend by the Fund or the legality of the distribution of any Portfolio Securities as payment in kind of such dividend; and
(f) any property or moneys of the Fund unless and until received by it, and any such property or moneys delivered or paid by it pursuant to the terms hereof. Moreover, the Bank will not be under any duty or obligation to ascertain whether any Portfolio Securities at any time delivered to or held by it for the account of the Fund are such as may properly be held by the Fund under the provisions of its Articles, By-laws, any federal or state statutes or any rule or regulation of any governmental agency.
14.2 Agents and Subcustodians with Respect to Property of the Fund Held in the United States. The Bank may employ agents of its own selection in the performance of its duties hereunder and shall be responsible for the acts and omissions of such agents as if performed by the Bank hereunder. Without limiting the foregoing, certain duties of the Bank hereunder may be performed by one or more affiliates of the Bank. Upon receipt of Proper Instructions, the Bank may employ subcustodians selected by or at the direction of the Fund, provided that any such subcustodian meets at least the minimum qualifications required by Section 17(f)(1) of the 1940 Act to act as a custodian of the Fund's assets with respect to property o...
Duties of the Bank. (a) The Bank shall hold the notes, Agreements and instruments deposited with it for the purposes of this Bank Agreement and for the benefit of the Bank and of the owners of the Debentures from time to time, and shall perform all duties imposed upon it by this Bank Agreement until this Bank Agreement is terminated. The security interests and assignments created by this Bank Agreement and by each Consent, Assignment and Agreement shall automatically terminate when all of the Debentures and all amounts payable to the Bank under this Bank Agreement have been paid in full. Thereupon, the Bank shall return to the Company the Set Aside Purchase Notes deposited with it pursuant to Section 7.2(b) hereof and not previously returned to the Company pursuant to the terms of this Agreement, and shall file with the appropriate governmental authorities indicated by the Company to the Bank Financing Statements delivered by the Company to the Bank recording the termination of the Bank's security interests and assignments granted under this Bank Agreement and each Consent, Assignment and Agreement.
(b) Upon the occurrence and continuation of an Event of Default, the Bank shall declare the entire outstanding aggregate principal balance of all the Debentures plus all accrued interest due and immediately payable. In addition, the Bank shall promptly notify each Investing Partnership in writing of the occurrence of such Event of Default in the form included herewith as Exhibit F. Upon receipt of such notice, each Investing Partnership shall (i) make all payments of principal and interest on its respective Set Aside Purchase Note to the Bank. The Bank shall collect all payments received under the foregoing security interests and assignments and apply them for the benefit of the Bank and of the owners of the Debentures firstly to the payment of all costs of collection, secondly to the payment of the Bank's fees and expenses, thirdly to the payment of all accrued interest (including, without limitation, interest accrued after the date of the Event of Default) and next to the repayment of principal of the Debentures, until all amounts due under the Debentures shall have been paid in full together with all costs of collection, fees and expenses.
(c) Upon the occurrence and continuation of an Event of Default, the Bank shall be entitled to institute action against the Company to collect payment under the Debentures without any prior requirement to attempt to collect any funds under th...
Duties of the Bank. The parties hereto agree that the Agreement is amended to add Section 1.2(f) as follows: Net orders may be transmitted to the Bank on DST or by facsimile or telephone. The Bank is not authorized to receive orders transmitted on DST from any party other than (i) NBMI and (ii) those parties set forth on Schedule A attached hereto, which shall be updated from time to time by the Fund (the "Designated Parties"). The Bank shall receive written approval from the Fund prior to authorizing any additional Designated Parties to use DST to place orders for Fund Shares. A Designated Party shall only be authorized to use DST to (i) transmit net orders for the purchase and redemption of Shares and (ii) review the account of that Designated Party's historical transactions. NBMI and the Designated Parties are authorized to place orders for trades received before 4:00 p.m. EST on a business day the New York Stock Exchange is open for business ("Business Day"), up to 9:30 p.m. EST that Business Day. No transactions occurring on a given Business Day are authorized to be transmitted on DST on the next Business Day.
Duties of the Bank. (a) Upon the occurrence and continuation of an Event of Default, the Bank shall declare the entire outstanding aggregate principal balance of all the Notes plus all accrued interest due and immediately payable.
(b) In the event that the Company shall default on its payment obligations to the Bank under this Bank Agreement, the Bank shall be entitled to institute action against the Company, jointly or severally, to collect payment under this Bank Agreement.
Duties of the Bank. The Bank shall have the duty to take possession of and safekeep all Collateral transferred or assigned to the Bank by Member on behalf of Depositor and to exercise reasonable skill and care when dealing with the Collateral.