Common use of Retention of BISYS; Conversion to the Services Clause in Contracts

Retention of BISYS; Conversion to the Services. The Administrator hereby engages BISYS to furnish each Portfolio with the administrative services as set forth in Article 2 below (collectively, the "Services"), and, in connection therewith, the Administrator agrees to cause each Portfolio to convert to BISYS' data processing systems and software (the "BISYS System") as necessary in order to receive the Services. The Administrator shall cooperate with BISYS to provide BISYS with all necessary information and assistance required to successfully convert to the BISYS System. BISYS shall provide the Administrator with a schedule relating to such conversion and the parties agree that the conversion may progress in stages. The date upon which all Services shall have been converted to the BISYS System shall be referred to herein as the "Conversion Date." The parties hereby agree that the Conversion Date shall be no later than January 1, 1997. BISYS hereby accepts such engagement and agrees to perform the Services commencing, with respect to each individual Service, on the date that the conversion of such Service to the BISYS System has been completed. BISYS shall determine in accordance with its normal acceptance procedures when the applicable Services has been successfully converted.

Retention of BISYS; Conversion to the Services. The Administrator hereby engages BISYS to furnish each Portfolio with the administrative services as set forth in Article 2 below (collectively, the "Services"), and, and in connection therewith, the Administrator agrees to cause each Portfolio to convert to BISYS' data processing systems and software (the "BISYS System") as necessary in order to receive the Services. The Administrator shall cooperate with BISYS to provide BISYS with all necessary information and assistance required to successfully convert to the BISYS System. BISYS shall provide the Administrator with a schedule relating to such conversion and the parties agree that the conversion may progress in stages. The date data upon which all Services shall have been converted to the BISYS System shall be referred to herein as the "Conversion Date." The parties hereby agree that the Conversion Date shall be no later than January 1, 1997. BISYS hereby accepts such engagement and agrees to perform the Services commencing, with respect to each individual Service, on the date that the conversion of such Service to the BISYS System has been completed. BISYS shall determine in accordance with its normal acceptance procedures when the applicable Services Service has been successfully converted. BISYS shall, for all purposes herein, be deemed to be an independent contractor and, unless otherwise expressly provided or authorized, shall have no authority to act for or represent the Administrator or the Companies in any way.

Retention of BISYS; Conversion to the Services. The Administrator hereby engages BISYS to furnish each Portfolio with the administrative services as set forth in Article 2 below (collectively, the "Services"), and, in connection therewith, the Administrator agrees to cause each Portfolio to convert to BISYS' data processing systems and software (the "BISYS System") as necessary in order to receive the Services. The Administrator shall cooperate with BISYS to provide BISYS with all necessary information and assistance required to successfully convert to the BISYS System. BISYS shall provide the Administrator with a schedule relating to such conversion and the parties agree that the conversion may progress in stages. The date upon which all Services shall have been converted to the BISYS System shall be referred to herein as the "Conversion Date." The parties hereby agree that the Conversion Date shall be no later than January 1, 1997. BISYS hereby accepts such engagement and agrees to perform the Services commencing, with respect to each individual Service, on the date that the conversion of such Service to the BISYS System has been completed. BISYS shall determine in accordance with its normal acceptance procedures when the applicable Services Service has been successfully converted. BISYS shall, for all purposes herein, be deemed to be an independent contractor and, unless otherwise expressly provided or authorized, shall have no authority to act for or represent the Administrator or the Companies in any way.