Common use of Lost Shareholder Due Diligence Searches and Servicing Clause in Contracts

Lost Shareholder Due Diligence Searches and Servicing. USBFS shall perform, or engage an outside vendor to perform, such services as are required in order to comply with Rule 17Ad-17 under the Securities Exchange Act of 1934, as amended (the “Lost Shareholder Rule”), including, but not limited to, those set forth below. (i) documentation of search policies and procedures; (ii) execution of required searches; (iii) tracking results and maintaining data sufficient to comply with the Lost Shareholder Rule; and (iv) preparation and submission of data required under the Lost Shareholder Rule. If a shareholder remains lost and the shareholder’s account remains unresolved after completion of the mandatory Rule 17Ad-17 search, the Companies may but are not required to separately engage a vendor to conduct a more in-depth search in order to locate the lost shareholder before the shareholder’s assets escheat to the applicable state. The Companies hereby acknowledge that USBFS is not a party to these arrangements with other vendors and USBFS does not receive any revenue sharing or other fees relating to these arrangements.