Investors Bank Sample Clauses

Investors Bank. Investors Bank represents and warrants to the -------------- Portfolio Trust and the Adviser that:

Investors Bank. Trust represents to Bull & Bear that it is and, as long as any Customer Arrangements established hereunder are in effect, will be a "bank" as defined in Section 408(n)(1) of the Internal Revenue Code of 1986, as amended.

Investors Bank. Trust Company and Bull & Bear acknowledge and agree that: (a) Under the Materials, Investors Bank & Trust Company as Custodian has no investment responsibility for the selection of Shares for any Customer Arrangement and Investors Bank & Trust Company will have no liability for any investments made for a Customer Arrangement. (b) Investors Bank & Trust Company will not serve as "plan administrator" (as defined in the Employee Retirement Income Security Act of 1974, as amended) of any Customer Arrangement whatsoever, or in any other administrative capacity or other capacity except as Custodian thereof. (c) Bull & Bear agrees that, in any written, oral, or electronic communications from Bull & Bear to any prospective or actual Customer or Employer, it will not state or represent that Investors Bank & Trust Company has any investment discretion or other power concerning investments of any Customer Arrangement, or that Investors Bank & Trust Company will serve as plan administrator or have any administrative or other responsibility for the administration or operation of any Customer Arrangement. 4.4 (a) Investors Bank & Trust Company hereby delegates to Bull & Bear all record keeping and other duties of the Custodian as are specified in any of the Materials or as may be necessary or convenient to administer and maintain any Customer Arrangement. With respect to any Customer Arrangement, such duties include, without implied limitation, receiving and maintaining copies of the signed Materials and other documentation necessary to reflect the establishment of and activity in each Customer Arrangement, processing all contributions to a Customer Arrangement (including rollover or direct rollover contributions), properly investing all such contributions in Shares in accordance with the Customer's instructions, processing investment transfers among Shares in accordance with the Customer's instructions, processing distributions and rollovers or transfers from the Customer Arrangement, providing periodic Customer Arrangement account statements (including a year-end statement), performing all required government reporting in a timely manner in accordance with applicable requirements, including timely filing Form 5498 and Form 1099R (where applicable) with the Customer and the Internal Revenue Service, performing income tax withholding, where applicable, timely providing a Schedule P to each Employer with an Employer Plan to be filed with the Annual Report of the Employer...

Investors Bank. Trust Company will sign all applications to establish a Customer Arrangement or other documents related to Customer Arrangements which Bull & Bear submits to Investors Bank & Trust Company for its signature. However, Investors Bank & Trust Company may in writing authorize Bull & Bear or Bull & Bear's designee to execute Investors Bank & Trust Company's name to one or more specific documents or categories of documents (and such authorization may be a blanket or standing authorization until revoked by Investors Bank & Trust Company). In no event will Bull & Bear sign Investors Bank & Trust Company's name on any application or other document without Investors Bank & Trust Company's prior written approval.