Common use of HSBC Clause in Contracts

HSBC. HSBC shall furnish at its own expense the executive, supervisory and clerical personnel necessary to perform its obligations under this Agreement. HSBC shall also provide the items which it is obligated to provide under this Agreement, and shall pay all compensation, if any, of officers of the Company and Trustees of the Company who are affiliated persons of HSBC or any affiliated corporation of HSBC; provided, however, that unless otherwise specifically provided, HSBC shall not be obligated to pay the compensation of any employee of the Company retained by the Board to perform services on behalf of the Company.

HSBC. HSBC shall furnish at its own expense the executive, supervisory and clerical personnel necessary to perform its obligations under this Agreement. HSBC shall also provide the items which it is obligated to provide under this Agreement, and shall pay all compensation, if any, of officers of the Company Trust and Trustees of the Company Trust who are affiliated persons of HSBC or any affiliated corporation of HSBC; provided, however, that unless otherwise specifically provided, HSBC shall not be obligated to pay the compensation of any employee of the Company Trust retained by the Board to perform services on behalf of the CompanyTrust.

HSBC. HSBC shall furnish at its own expense the executive, supervisory and clerical personnel necessary to perform its obligations under this Agreement. HSBC shall also provide the items which it is obligated to provide under this Agreement, and shall pay all compensation, if any, of officers of the Company Trust and Trustees of the Company Trust who are affiliated persons of HSBC or any affiliated corporation of HSBC; provided, however, that unless otherwise specifically provided, HSBC shall not be obligated to pay the compensation of any employee or agent of the Company Trust retained by the Board to perform services on behalf of the CompanyTrust.