Common use of Loan Administration Clause in Contracts

Loan Administration. The Custodian will perform the following functions with respect to bank loans held by a Series: (a) Remit funds to the recipient borrower or seller of bank loans pursuant to Instructions; (b) Subject to timely receipt of applicable information, enter standard bank loan information into the Custodian’s loan tracking system with respect to such bank loans of which the Custodian is informed by the Series pursuant to Instructions; and (c) Prepare and deliver to the Series on a mutually agreed periodic basis a position summary statement, cash flow activity report and contract accrual report with respect to such bank loans of which the Custodian is informed by the Series pursuant to Instructions.