SERVICES RENDERED AND EXPENSES Clause Samples
SERVICES RENDERED AND EXPENSES. Paid by the SUB-ADVISER
(a) manage the investment and reinvestment of the assets of each Covered Fund, and conduct an investment evaluation for each Covered Fund, including, for example, the evaluation of pertinent economic, statistical, financial, and other data, the determination, in its discretion without prior consultation with VALIC or the ▇▇ ▇▇ Board of Trustees, of the industries, securities and other investments to be represented in each Covered Fund’s portfolio, and the formulation and implementation of investment programs; and
(b) maintain a trading desk and place orders for the purchase and sale of portfolio investments (including futures contracts and options thereon) for each Covered Fund’s account with brokers or dealers (including futures commission merchants) selected by the SUB-ADVISER in the SUB-ADVISER’s discretion, including any brokers or dealers that may be affiliated with the SUB-ADVISER to the extent permitted by applicable laws and the rules and regulations thereunder and any exemptive order currently in effect, or arrange for any other entity to provide a trading desk and to place orders with brokers and dealers (including futures commission merchants) selected by the SUB-ADVISER in the SUB-ADVISER’s discretion, subject to the SUB-ADVISER’s control, direction, and supervision, including any brokers or dealers that may be affiliated with the SUB-ADVISER to the extent permitted by applicable laws and the rules and regulations thereunder and any exemptive order currently in effect. In selecting brokers or dealers to execute transactions on behalf of a Covered Fund, the SUB-ADVISER will attempt to obtain best execution. In seeking to obtain best execution for any transaction, the SUB-ADVISER will consider factors it deems relevant, including, without limitation, the breadth of the market in the security, the price of the security, the financial condition and execution capability of the brokers or dealers and the reasonableness of the commission, if any, for the specific transaction and on a continuing basis. In selecting brokers or dealers to execute a particular transaction, the SUB-ADVISER is authorized to consider the “brokerage and research services” (within the meaning of Section 28(e) of the Securities and Exchange Act of 1934, as amended (the “1934 Act”)) provided to a Covered Fund and/or other accounts over which the SUB-ADVISER or any of its affiliates exercise discretion (“Client Accounts”). As permitted by Section 28(e) of ...
SERVICES RENDERED AND EXPENSES. Paid by the Administrator. The Administrator, subject to the control, direction and supervision of the Board of Trustees of the Trust and in conformity with applicable laws, this Agreement, the Trust's Declaration of Trust, By-Laws, registration statement and amendments thereto, prospectus and statement of additional information, as in effect from time to time, and stated investment objectives, policies and restrictions, shall, as directed by the Trust from time to time, at its own expense perform as administrative services for each of the Trust such of the following as the Company shall designate:
(i) furnish office space, facilities, and equipment necessary for the administration of the Trust:
(ii) compute the net asset value per share of the Trust on a daily basis;
(iii) prepare and file all registration or other material required by federal and state laws for the registration or other qualification of the Trust and its shares for sale to the public as required by such laws;
(iv) prepare and file or mail all reports and statements required of the Trust by federal and state laws, to be filed or sent by the fund to all authorities and security holders of the Trust;
(v) maintain contact with and coordinate the Trust's public accountants, legal counsel, custodian, transfer and service agent and other providers of services to the Trust, all of whose fees shall be paid independently by the Trust, and perform customary checks and confirmations of such services and the records thereof;
(vi) coordinate the Trust's portfolio transactions and cash management with the Trust's custodian;
(vii) receive, confirm and pay over to the Trust's custodian the proceeds of sales by the Trust of its shares and administer and confirm to the Trust's transfer agent and shareholders the sales of its shares by the Trust; and
(viii) prepare and maintain on behalf of the Trust such records of the Trust's business transactions as are not maintained by other service providers to the trust and generally take all such other action as may be required to administer the Trust's business. The Trust shall pay the Administrator's out-of-pocket expenses for supplies, printing and postage incurred by the Administrator in the performance of its duties hereunder. To the extent that any of the foregoing expenses are allocated between the Trust and any other party, such allocations shall be pursuant to methods approved by the Board of Trustees of the Trust.
SERVICES RENDERED AND EXPENSES. Paid by ADVISER The ADVISER, subject to the control, direction and supervision of the TRUST's Trustees and in conformity with applicable laws, the TRUST's Agreement and Declaration of Trust ("Declaration of Trust"), Bylaws, registration statement, prospectus and the stated investment objectives, policies and restrictions of each Portfolio, shall:
a. manage the investment and reinvestment of the TRUST's assets including, by way of illustration, the evaluation of pertinent economic, statistical, financial and other data, determination of the industries and companies to be represented in each of the TRUST's Portfolios, and formulation and implementation of investment programs;
b. maintain a trading desk and place all orders for the purchase and sale of portfolio investments for the account of each Portfolio of the TRUST with brokers or dealers selected by the ADVISER;
c. conduct and manage the day-to-day operations of the TRUST including, by way of illustration, the preparation of registration statements, prospectuses, reports, proxy solicitation materials and amendments thereto, the furnishing of legal services except for services provided by outside counsel to the TRUST selected by the Trustees, and the supervision of the TRUST's Treasurer and the personnel working under his direction; and