Establishment and Administration of the Account
Establishment and Administration of the Account Sample Clauses
Related to Establishment and Administration of the Account
ESTABLISHMENT AND ORGANIZATION OF THE TRUST Section 2.1. Establishment of the Trust.....................................34 Section 2.2. Office.........................................................34 Section 2.3.
Management and Administration Except as otherwise provided herein, this Agreement shall be managed and administered by the Parties, Members, and State Consumer Advocates through the Members Committee and the Reliability Committee as a Standing Committee thereof, except as delegated to the Office of the Interconnection and except that only the PJM Board shall have the authority to approve and authorize the filing of amendments to this Agreement with the FERC. Issued By: Xxxxx Xxxxxx Effective: October 1, 2003 Vice President, Governmental Policy Issued On: July 31, 2003 PJM Interconnection, L.L.C. Second Revised Sheet No. 11 First Revised Rate Schedule FERC No. 32 Superseding First Revised Sheet No. 11 [Sheet Nos. 11 through 14A are reserved for future use.] Issued By: Xxxxx Xxxxxx Effective: October 1, 2003 Vice President, Governmental Policy Issued On: July 31, 2003 PJM Interconnection, L.L.C. Second Revised Sheet No. 15 First Revised Rate Schedule FERC No. 32 Superseding First Revised Sheet No. 15
Fund Administration Legal Services n. Prepare the agenda and resolutions for all requested Board of Directors (the “Board”) and committee meetings, make presentations to the Board and committee meetings where appropriate or upon reasonable request, prepare minutes for such Board and committee meetings and attend the Company’s shareholder meetings and prepare minutes of such meetings;
Establishment of the Bank Account 2.1 The Escrow Agent shall establish a non-interest bearing bank account at a branch of XX Xxxxxx Chase selected by the Escrow Agent, and bearing the designation set forth on the Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.
Compensation of the Agent The Company agrees to pay the Agent for its services under this Agreement in accordance with the schedule as then in effect set forth in Exhibit B of this Agreement or any amendment thereof. In addition, the Company agrees to reimburse the Agent for the following "out-of-pocket" expenses of the Agent within five days after receipt of an itemized statement of such expenses, to the extent that payment of such expenses has not been or is not to be made directly by the Company: (i) costs of stationery, appropriate forms, envelopes, checks, postage, printing (except cost of printing prospectuses, annual and semi-annual reports and proxy materials) and mailing charges, including returned mail and proxies, incurred by the Agent with respect to materials and communications sent to shareholders in carrying out its duties to the Company under this Agreement; (ii) long distance telephone costs incurred by the Agent for telephone communications and microfilm and storage costs for transfer agency records and documents; (iii) costs of all ancillary and supporting services and related expenses (other than insurance premiums) reasonably required by and provided to the Agent, other than by its employees or employees of an affiliate, with respect to functions of the Company being performed by it in its capacity as Agent hereunder, including legal advice and representation in litigation to the extent that such payments are permitted under Paragraph 7 of this Agreement and charges to Agent made by any Subagent; (iv) costs for special reports or information furnished on request pursuant to this Agreement and not specifically required by the Agent by Paragraph 3 of this Agreement; and (v) reasonable costs and expenses incurred by the Agent in connection with the duties of the Agent described in Paragraph (3)(1)(i). In addition, the Company agrees to promptly pay over to the Agent any fees or payment of charges it may receive from a shareholder for services furnished to the shareholder by the Agent. Services and operations incident to the sale and distribution of the Company's shares, including sales communications, confirmations of investments (not including reinvestment of dividends) and the clearing or collection of payments will not be for the account or at the expense of the Company under this Agreement.
COLLECTION AND ADMINISTRATION 42 5.1 Borrower's Loan Accounts ............................................................. 42 5.2 Statements ........................................................................... 42 5.3
Financial, Accounting, and Administrative Services The Manager shall maintain the existence and records of the Corporation; maintain the registrations and qualifications of Fund Shares under federal and state law; monitor the financial, accounting, and administrative functions of the Fund; maintain liaison with the various agents employed by the Corporation (including the Corporation’s transfer agent, custodian, independent accountants and legal counsel) and assist in the coordination of their activities on behalf of the Fund.
Compensation of the Local Manager For the services rendered, the facilities furnished and expenses assumed by the Local Manager, MSIM shall pay to the Local Manager a fee in an amount to be determined from time to time by MSIM and the Local Manager but in no event in excess of the amount that MSIM actually received for providing services to the Fund pursuant to the Advisory Agreement.
Fund Administration ● Prepare annual and semi-annual financial statements utilizing templates for standard layout and printing ● Prepare Forms N-CSR and N-PX ● Prepare and file Forms N-PORT and N-CEN* ● Host annual audits ● Calculate monthly SEC standardized total return performance figures ● Prepare required reports for quarterly Board meetings ● Monitor expense ratios ● Maintain budget vs. actual expenses ● Manage fund invoice approval and bill payment process ● Assist with placement of Fidelity Bond and E&O insurance ● Assist with proxy statements and shareholder meetings Fund Accounting ● Calculate daily NAVs ● Transmit NAVs to NASDAQ, transfer agent, adviser and other third parties ● Compute yields, expense ratios, portfolio turnover rates, etc. ● Reconcile cash and investment balances with the Custodian ● Support preparation of financial statements ● Prepare and maintain required Fund Accounting records in accordance with the 1940 Act ● Obtain security valuations from appropriate sources consistent with the Trust’s pricing and valuation policies Legal Administration ● Coordinate EDGARization and file Forms N-CSR, N-PX and other SEC filings ● File Fidelity Bond with SEC ● Coordinate and assist with annual shareholder proxy filing and mailing process ● Send notices of press releases to Fund’s securities exchange and maintain compliance with such exchange requirements. ● Compile and distribute board materials for quarterly board meetings ● Attend and prepare initial draft of minutes for quarterly board meetings ● Maintain board compliance calendar for the Trust with schedule for quarterly board matters and items ● Support secondary offerings through coordination with legal counsel. Compliance Administration ● Perform daily prospectus & SAI, SEC investment restriction monitoring ● Provide warning/Alert notification with supporting documentation ● Provide quarterly compliance testing certification to Board of Directors Tax Administration ● Calculate dividend and capital gain distribution rates ● Prepare ROCSOP and required tax designations for Annual Report ● Prepare and coordinate filing of income and excise tax returns o Audit firm to sign all returns as paid preparer ● Calculate/monitor book-to-tax differences ● Provide quarterly Subchapter M compliance monitoring and reporting ● Provide tax re-allocation data for shareholder 1099 reporting ● Prepare and coordinate distribution of 19a-1 filings as required Trust Officers ● Provide the Trust with individuals to serve in the Trust’s President (PEO), Treasurer (PFO), Secretary and Chief Compliance Officer positions. +
Compensation of the Adviser For all of the services to be rendered and payments to be made as provided in this Agreement, as of the last business day of each month, the Fund will pay you a fee at the annual rate of 1.50% of the average value of its daily net assets. The average value of the daily net assets of the Fund shall be determined pursuant to the applicable provisions of the Declaration of Trust of the Trust or a resolution of the Board, if required. If, pursuant to such provisions, the determination of net asset value of the Fund is suspended for any particular business day, then for the purposes of this paragraph, the value of the net assets of the Fund as last determined shall be deemed to be the value of the net assets as of the close of the business day, or as of such other time as the value of the Fund's net assets may lawfully be determined, on that day. If the determination of the net asset value of the Fund has been suspended for a period including such month, your compensation payable at the end of such month shall be computed on the basis of the value of the net assets of the Fund as last determined (whether during or prior to such month).
