Services and Duties of USBGFS. USBGFS shall provide the following administration services to the Trust with respect to each Fund:
A. General Fund Management:
(1) Act as liaison among Fund service providers.
Services and Duties of USBGFS. (I) USBGFS shall provide the following transfer agent and dividend disbursing agent services to the Trust with respect to each Fund:
A. Facilitate purchases and redemption of Creation Units;
B. Prepare and transmit by means of DTC’s book-entry system payments for dividends and distributions on or with respect to the Shares declared by the Trust on behalf of the applicable Fund;
C. Maintain the record of the name and address of the Shareholder and the number of Shares issued by the Trust and held by the Shareholder;
D. Record the issuance of Shares of the Trust and maintain a record of the total number of Shares of the Trust which are outstanding, and, based upon data provided to it by the Trust, the total number of authorized Shares. USBGFS shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares.
E. Prepare and transmit to the Trust and the Trust’s administrator and/or sub-administrator and to any applicable securities exchange (as specified to USBGFS by the Trust) information with respect to purchases and redemptions of Shares;
F. On days that the Trust may accept orders for purchases or redemptions, calculate and transmit to USBGFS and the Trust the number of outstanding Shares;
G. On days that the Trust may accept orders for purchases or redemptions (pursuant to the Authorized Participant Agreement), transmit to USBGFS, the Trust and DTC the amount of Shares purchased on such day;
H. Confirm to DTC the number of Shares issued to the Shareholder, as DTC may reasonably request;
I. Prepare and deliver other reports, information and documents to DTC as DTC may reasonably request;
J. Extend the voting rights to the Shareholder for extension by DTC to DTC participants and the beneficial owners of Shares in accordance with policies and procedures of DTC for book-entry only securities;
K. Maintain those books and records of the Trust specified by the Trust and agreed upon by USBGFS;
L. Prepare a monthly report of all purchases and redemptions of Shares during such month on a gross transaction basis, and identify on a daily basis the net number of Shares either redeemed or purchased on such business day and with respect to each Authorized Participant purchasing or redeeming Shares, the amount of Shares purchased or redeemed;
M. Receive from the Distributor or from its agent purchase orders from Authorized Participants (as defined in the Authorized Participant Agreement) for Creation Unit Aggregations of Shares rece...
Services and Duties of USBGFS. (A) USBGFS shall provide the following transfer agent and dividend disbursing agent services to the Adviser with respect to each Fund:
1. Receive and process all orders for transactions of shares in accordance with applicable regulations, and as specified in the Fund’s prospectus and Statement of additional information (or similar disclosure documents) (the “Prospectus”) filed with the Securities and Exchange Commission (“SEC”).
2. Process purchase and redemption orders with prompt delivery, where appropriate, of payment and supporting documentation to the shareholder based on the shareholder’s or the Fund’s custodian instructions, and record the appropriate number of shares being held in the appropriate shareholder account.
3. Pay proceeds upon receipt from the Fund’s custodian, where relevant, in accordance with the instructions of redeeming shareholders.
4. Process transfers of shares in accordance with the shareholder’s instructions, after receipt of appropriate documentation from the shareholder as specified in the Prospectus.
5. Prepare and transmit payments, or apply reinvestments for income dividends and capital gains distributions declared by the Adviser with respect to a Fund, after deducting any amount required to be withheld by any applicable laws, rules and regulations and in accordance with shareholder instructions.
6. Serve as the Fund’s agent in connection with systematic plans including, but not limited to, systematic investment plans, systematic withdrawal plans, and systematic exchange plans.
7. Make changes to shareholder records, including, but not limited to, address and plan changes in plans (e.g., systematic investment and withdrawal and dividend reinvestment).
8. Handle load and multi-class processing, including rights of accumulation and purchases by letters of intent in accordance with the Prospectus.
9. Record the issuance of shares of the Fund and maintain, pursuant to Rule 17Ad-10(e) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), a record of the total number of shares of each Fund which are authorized, issued and outstanding.
10. Prepare ad-hoc reports as necessary at prevailing rates.
11. Mail shareholder reports and Prospectuses to current shareholders for whom USBGFS has direct access and appropriate registration information.
12. Prepare and file U.S. Treasury Department Forms 1099 and other appropriate information returns required with respect to dividends and distributions for all ...
Services and Duties of USBGFS. USBGFS shall provide the following accounting services to the Trust with respect to each Fund:
A. Portfolio Accounting Services:
(1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s investment adviser.
(2) For each valuation date, obtain prices from a pricing source approved by the board of trustees of the Trust (the “Board of Trustees”) and apply those prices to the portfolio positions. For those securities where market quotations are not readily available, the Board of Trustees shall approve, in good faith, procedures for determining the fair value for such securities.
(3) Identify interest and dividend accrual balances as of each valuation date and calculate gross earnings on investments for each accounting period.
(4) Determine gain/loss on security sales and identify them as short-term or long-term; account for periodic distributions of gains or losses to shareholders and maintain undistributed gain or loss balances as of each valuation date.
(5) On a daily basis, reconcile portfolio holdings and cash of the Fund with the Fund’s custodian and/or prime brokerage account(s).
(6) Transmit a copy of the portfolio valuation to the Fund’s investment adviser daily.
(7) Review the impact of current day’s activity on a per share basis, and review changes in market value.
Services and Duties of USBGFS. USBGFS shall provide the following accounting services to the Trust with respect to each Fund:
Services and Duties of USBGFS. USBGFS shall provide the following accounting services to the Trust with respect to each Fund:
A. Portfolio Accounting Services:
(1) Maintain portfolio records on a trade date+1 basis using security trade information communicated from the Fund’s investment adviser.
(2) For each valuation date, obtain prices from a pricing source approved by the board of trustees of the Trust (the “Board of Trustees”) and apply those prices to the portfolio positions. For those securities where market quotations are not readily available, the Board of Trustees shall approve, in good faith, procedures for determining the fair value for such securities.
(3) Identify interest and dividend accrual balances as of each valuation date and calculate gross earnings on investments for each accounting period.
(4) Determine gain/loss on security sales and identify them as short-term or long-term; account for periodic distributions of gains or losses to shareholders and maintain undistributed gain or loss balances as of each valuation date.
(5) On a daily basis, reconcile portfolio holdings and cash of the Fund with the Fund’s custodian and/or prime brokerage account(s).
(6) Transmit a copy of the portfolio valuation to the Fund’s investment adviser daily.
(7) Review the impact of current day’s activity on a per share basis, and review changes in market value.
B. Expense Accrual and Payment Services:
(1) For each valuation date, monitor the expense accrual amounts as directed by the Fund as to methodology, rate or dollar amount.
(2) Process and record payments for Fund expenses.
(3) Account for Fund expenditures and maintain expense accrual balances at the level of accounting detail, as agreed upon by USBGFS and the Trust.
(4) Provide expense accrual and payment reporting.
C. Fund Valuation and Financial Reporting Services:
(1) Account for Fund share purchases, sales, exchanges, transfers, dividend reinvestments, and other Fund share activity as reported by the Fund’s transfer agent on a timely basis.
(2) Determine net investment income (earnings) for the Fund as of each valuation date. Account for periodic distributions of earnings to shareholders and maintain undistributed net investment income balances as of each valuation date.
(3) Maintain a general xxxxxx and other accounts, books, and financial records for the Fund.
(4) Determine the net asset value of the Fund according to the accounting policies and procedures set forth in the Fund's current prospectus.
(5) Calculate per share ...
Services and Duties of USBGFS. USBGFS shall provide the following administration services to the Trust with respect to each Fund:
A. General Fund Management:
(1) Act as liaison among Fund service providers.
(2) Supply:
a. Non-investment-related statistical and research data as requested.
(3) Coordinate the Trust’s board of trustees (the “Board of Trustees” or the “Trustees”) communications, such as:
a. Prepare meeting agendas and resolutions, with the assistance of Fund counsel.
b. Prepare reports for the Board of Trustees based on financial and administrative data.
c. Assist with the selection of the independent auditor.
d. If requested by the Trust, secure and monitor fidelity bond and director and officer liability coverage, and make the necessary Securities and Exchange Commission (the “SEC”) filings relating thereto.
e. Prepare minutes of meetings of the Board of Trustees and Fund shareholders.
f. Recommend dividend declarations to the Board of Trustees and prepare and distribute to appropriate parties notices announcing declaration of dividends and other distributions to shareholders.
g. Attend Board of Trustees meetings and present materials for the Trustees’ review at such meetings.
Services and Duties of USBGFS. A. Services and duties of USBGFS in regards to any ETF listed on Exhibt A are provided on Schedule 1.
B. Services and duties of USBGFS in regards to any mutual fund listed on Exhibit A are provided on Schedule 2.
Services and Duties of USBGFS. USBGFS shall provide the following administration services to the Trust with respect to each Fund:
a. General Fund Management:
i. Act as liaison among Fund service providers.
ii. Supply:
1. Office facilities (which may be in USBGFS’, or an affiliate’s, or Fund’s own offices).
2. Non-investment-related statistical and research data as requested.
iii. Coordinate the Trust’s board of trustees (the “Board of Trustees” or the “Trustees”) communications, such as:
1. Prepare meeting agendas and resolutions, with the assistance of Fund counsel.
2. Prepare reports for the Board of Trustees based on financial and administrative data.
3. Assist with the selection of the independent auditor.
4. If requested by the Trust, secure and monitor fidelity bond and director and officer liability coverage, and make the necessary Securities and Exchange Commission (the “SEC”) filings relating thereto.
5. Prepare minutes of meetings of the Board of Trustees and Fund shareholders.
6. Recommend dividend declarations to the Board of Trustees and prepare and distribute to appropriate parties notices announcing declaration of dividends and other distributions to shareholders.
7. Attend Board of Trustees meetings and present materials for the Trustees’ review at such meetings.
Services and Duties of USBGFS. USBGFS shall provide the following administration services to the Company:
A. General Company Management:
(1) Act as liaison among the Company’s service providers.
(2) Supply:
a. Office facilities (which may be in USBGFS’, or an affiliate’s, or the Company’s own offices).
b. Non-investment-related statistical and research data as requested.
(3) Coordinate the Company’s board of directors (the “Board of Directors” or the “Directors”) communications, such as:
a. Prepare meeting agendas and resolutions, with the assistance of Company counsel.
b. Prepare reports for the Board of Directors based on financial and administrative data.
c. Assist with the selection of the independent auditor.
d. If requested by the Company, secure and monitor fidelity bond and director and officer liability coverage, and make the necessary Securities and Exchange Commission (the “SEC”) filings relating thereto.
e. Prepare minutes of meetings of the Board of Directors and Company shareholders.
f. Recommend dividend declarations to the Board of Directors and prepare and distribute to appropriate parties notices announcing declaration of dividends and other distributions to shareholders.
g. Attend Board of Directors meetings and present materials for the Directors’ review at such meetings.
