Common use of Retention of the Administrator Clause in Contracts

Retention of the Administrator. The Company hereby appoints the Administrator to act as the administrator of the Portfolios and, subject to the supervision, direction and control of the Company's Board of Trustees, to furnish the Portfolios with the management and administrative services set forth in Article 2 below. The Administrator hereby accepts such appointment and agrees to perform said services for the compensation provided for in Article 4 below. The Administrator 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 Company in any way and shall not be deemed an agent of the Company.

Retention of the Administrator. The Company hereby appoints retains the Administrator to act as the administrator of the Portfolios and, subject to the supervision, direction and control of the Company's Board of Trustees, to furnish the Portfolios with the management and administrative services as set forth in Article 2 below. The Administrator hereby accepts such appointment and agrees employment to perform said services for the compensation provided for in Article 4 duties set forth below. The Administrator shall, for all purposes herein, be deemed to be an independent contractor and, unless otherwise expressly provided or authorized (e.g., those instances in which a BISYS employee is a duly elected officer of the Company), shall have no authority to act for or represent the Company in any way and shall not be deemed an agent of the Company.

Retention of the Administrator. The Company hereby appoints engages the Administrator to act as the administrator of the Portfolios and, subject to the supervision, direction and control of the Company's Board of Trustees, to furnish the Portfolios with the management and administrative services as set forth in Article 2 below. The Administrator hereby accepts such appointment engagement and agrees to perform said services for the compensation provided for in Article 4 duties set forth below. The Administrator shall, for all purposes herein, be deemed to be an independent contractor and, unless otherwise expressly provided or authorized authorized, shall have no authority to act for or represent the Company in any way and shall not be deemed an agent of the Company.

Retention of the Administrator. The Company hereby appoints the Administrator to act as the administrator of the Portfolios and, subject to the supervision, direction and control of the Company's Board of Trustees, to furnish the Portfolios with the management and administrative services set forth in Article 2 below. The Administrator hereby accepts such appointment and agrees to perform said services for the compensation provided for in Article 4 below. The Administrator shall, for all purposes herein, be deemed to be an independent contractor and, unless otherwise expressly provided or authorized authorized, shall have no authority to act for or represent the Company in any way and shall not be deemed an agent of the Company.