Recordkeeper Sample Clauses
Recordkeeper. The Recordkeeper is hereby designated as agent of the Employer under the Plan to perform directly or through agents certain ministerial duties in connection with the Plan, in particular:
(a) To keep and regularly furnish to the Employer a detailed statement of each Participant's Accounts, showing contributions thereto by the Employer and the Participant, Investment Products purchased therewith, earnings thereon and Investment Products purchased therewith, and each redemption or distribution made for any reason, including fees or benefits; and
(b) To the extent agreed between the Employer and the Recordkeeper, to prepare for the Employer or to assist the Employer to prepare such returns, reports or forms as the Employer shall be required to furnish to Participants and Beneficiaries or other interested persons and to the Internal Revenue Service or the Department of Labor; all as may be more fully set forth in a service agreement executed by the Employer and the Recordkeeper. If the Employer does not appoint another person or entity as Recordkeeper, the Employer itself shall be the Recordkeeper.
Recordkeeper. By executing this Adoption Agreement, the Employer retains Banco Popular de Puerto Rico as Recordkeeper of the Plan pursuant to the Recordkeeping Agreement and Fee Schedule incorporated by reference into this Adoption Agreement. The Employer has selected as recordkeeper for the Plan: RECORDKEEPER AND TRUSTEE'S FEES By executing this Adoption Agreement, the Employer agrees to retain Banco Popular de Puerto Rico as Recordkeeper and, if applicable, as Trustee of the Plan, for an initial minimum period of three years. This Agreement shall renew automatically for an indefinite period of time. The Employer may terminate this Agreement at any time subject to a written termination notice received by Banco Popular at least thirty days prior to the effective date of termination. If termination occurs during the initial three year period, the Employer agrees to compensate Banco Popular with a termination fee equal to three times the total annual fees minus any amount already satisfied in connection with the services rendered since the effective date of this agreement. Banco Popular may change the Fee Schedule from time to time and shall provide written notification to the Employer. VALUATING OF PARTICIPANT'S ACCOUNTS The Participant's Accounts shall be valued / / monthly /X/ quarterly / /semi annually / /annually. PARTICIPANT'S ACCOUNT STATEMENTS The Participants shall be provided with a statement of their account on a monthly quarterly semi annually annual basis. SATISFACTION OF THE PARTICIPATION AND NON-DISCRIMINATION REQUIREMENTS OF THE IRC BY EMPLOYERS WITH EMPLOYEES WITHIN AND WITHOUT PUERTO RICO OR THAT ARE MEMBERS OF AN AFFILIATED GROUP. The satisfaction of the participation and non-discrimination requirements of section 1165(a)(3)(A), 1165(a)(4), and 1165(e)(3) of the IRC shall be determine by taking into the account the active Employees that the Employer has in Puerto Rico. Notwithstanding the above, in the case of an Employer having Employees within and without Puerto Rico or that is a member of an affiliated group of corporations or partnerships (within the meaning of section 1028 of the
Recordkeeper. Sun Life Financial
Recordkeeper. The Agent will not enter into an Investment Program Agreement with a Recordkeeper unless the Recordkeeper has satisfied the Agent of the ability of the Recordkeeper to provide and maintain accurate recordkeeping and instruction services.
Recordkeeper. The term “Recordkeeper” shall mean Ascensus College Savings Recordkeeping Services, LLC, or its successors or assigns.
Recordkeeper. CSTC, or such affiliate or other entity as CSTC may designate to provide various services to the Plan, as adopted by an Employer.
Recordkeeper. The Recordkeeper hereby represents and warrants to the Company that:
(1) It has full power and authority under applicable law, and has taken all action necessary, to enter into and perform this Agreement and the person executing this Agreement on its behalf is duly authorized and empowered to execute and deliver this Agreement;
(2) This Agreement constitutes the legal, valid and binding obligation of the Recordkeeper and is enforceable against it in accordance with its terms;
(3) No consent or authorization of, filing with, or other act by or in respect of any governmental authority, is required in connection with the execution, delivery, performance, validity or enforceability of this Agreement.;
(4) The execution, performance and delivery of this Agreement will not result in the Recordkeeper violating any applicable law or breaching or otherwise impairing any of its contractual obligations;
(5) It is registered as a transfer agent pursuant to Section 17A of the Securities Exchange Act of 1934, as amended (the "1934 Act"); and
(6) The arrangements provided for in this Agreement will be disclosed to the Plans.
Recordkeeper. Aspire, or any successor, engaged by the Program Coordinator pursuant to a separate agreement to provide certain benefits administration and recordkeeping services relating to the Custodial Account.
Recordkeeper. Recordkeeper represents and warrants to Company and Distributors that:
(i) It has full power and authority under applicable law, and has taken all action necessary, to enter into and perform this Agreement and the person executing this Agreement on its behalf is duly authorized and empowered to execute and deliver this Agreement;
(ii) This Agreement constitutes the legal, valid and binding obligation of Recordkeeper and is enforceable against Recordkeeper in accordance with its terms;
(iii) No consent or authorization of, filing with, or other act by or in respect of any governmental authority is required in connection with the execution, delivery, performance, validity or enforceability of this Agreement;
(iv) The execution, performance and delivery of this Agreement shall not result in Recordkeeper or any Designee violating any applicable law or breaching or otherwise impairing any of its contractual obligations;
(v) It and each Designee is registered as a transfer agent pursuant to Section 17A of the Securities Exchange Act of 1934, as amended (the "1934 Act") or is not required to be registered as such;
(vi) The arrangements provided for in this Agreement shall be disclosed to the Plans;
(vii) It and each Designee is not and shall not be a "fiduciary" with respect to the provision of the Services for any Plan as such term is defined in Section 3(21) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and Section 4975 of the Internal Revenue Code of 1986, as amended (the "Code");
(viii) The receipt of the fees described in Section 14 of this Agreement by Recordkeeper or any Designee and the provision of the Services to the Plans under this Agreement by Recordkeeper or any Designee does not and shall not constitute a non-exempt "prohibited transaction" as such term is defined in Section 406 of ERISA and Section 4975 of the Code;
(ix) It and each Designee is registered as a broker-dealer under the 1934 Act and any applicable state securities laws, including any laws applicable as a result of entering into and performing the Services set forth in this Agreement, or is not required to be so registered;
(x) It and each Designee is authorized to act on behalf of each Plan on whose behalf it is effecting transactions in the Account in connection with the Services pursuant to an agreement with the Plan Representative and is satisfied that the person or persons who signed Recordkeeper's or Designees' contracts with the Plan were themsel...
Recordkeeper. The Vanguard Group, Inc. or any of its agents or assigns.