Common use of Securities Lending Duties and Fees Clause in Contracts

Securities Lending Duties and Fees. A. Manager Duties (a) assist the securities lending agent (the "Agent") in determining which specific securities are available for loan, (b) monitor the Agent to ensure that securities loans are effected in accordance with its instructions and within the procedures adopted by the Board of Trustees of the Mileage Trust, (c) prepare appropriate periodic reports for, and seek appropriate approvals from, the Board of Trustees of the Mileage Trust with respect to securities lending activities, (d) respond to Agent inquiries concerning Agent's compliance with applicable guidelines, and (e) perform such other duties as necessary.