Common use of Escheatment Services Clause in Contracts

Escheatment Services. a. In the event the Inactive Outreach Services do not establish contact with an Inactive Shareholder, Transfer Agent will mail a notice of escheatment to the shareholder or the payee of an outstanding check (the “Due Diligence Letters”) based on mailing schedules as established by the Transfer Agent that facilitate compliance with its good faith interpretation of applicable state escheatment laws. b. In the event there is no response to the Due Diligence Letters, Transfer Agent will escheat eligible property to the applicable states based on remittance schedules as established by applicable state law. c. Transfer Agent will provide periodic reports to the Funds, at such intervals as the parties may agree, concerning the Due Diligence Letters, shareholder response to such letters, accounts to be escheated by state, accounts escheated by state, along with any other information a Fund may reasonably request.