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. 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. 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. 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. 3.1 The Bank agrees that it will perform the following services:
(a) In connection with procedures established from time to time by agreement between the Trust and the Bank, the Bank shall:
(i) Receive for acceptance from the Trust and the Providers orders for the purchase of Shares and promptly deliver payment and appropriate documentation therefor to the custodian of the Trust appointed by the Board (the "Custodian");
(ii) Pursuant to purchase orders received from the Trust and the Providers, issue the appropriate number of Shares and hold such Shares in the appropriate Shareholder account;
(iii) Receive for acceptance from the Trust and the Providers redemption requests and redemption directions and deliver the appropriate documentation therefor to the Custodian;
(iv) At the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies as instructed by the redeeming Shareholders;
(v) Effect exchanges (if provided for in the Funds' respective Prospectuses), account registration changes and transfers of Shares by the registered owners thereof upon receipt of Proper Instructions;
(vi) Account for and administer the redemption fees on the redemption and exchange of Shares (if provided for in the Funds' respective Prospectuses);
(vii) Provide escheatment and lost shareholder services in accordance with applicable laws and regulations and policies and procedures agreed upon by the Parties;
(viii) Prepare and transmit payments for dividends and distributions declared by the Trust on behalf of a Fund;
(ix) Issue replacement checks and place stop orders on original checks based on Shareholders' representations that checks were not received or were lost;
(x) Create and maintain all necessary records, including those specified in Section 13 hereof, in accordance with all applicable laws and regulations, including but not limited to records required by Section 31(a) of the Investment Company Act of 1940, as amended (the "1940 Act") and the rules thereunder, records required by Section 17A of the 1934 Act and the rules thereunder and those records pertaining to the various functions performed by the Bank hereunder. All records shall be available for inspection and use by the Trust. Where applicable, such records shall be maintained by the Bank for the periods and in the places required by Rule 31a-2 under the 1940 Act;
(xi) Make available during regu...
Duties of the Bank. The Bank will provide all of the Services in accordance with all applicable laws and regulations and such standards of service as generally prevail in the financial services industry. The Bank shall indemnify the Customer and hold the Customer harmless from and against any and all liability, damages, and costs, including reasonable attorney fees, resulting from the Bank’s failure to comply with the provisions of this Agreement.
