Common use of SERVICES TO BE PROVIDED BY THE ADMINISTRATOR Clause in Contracts

SERVICES TO BE PROVIDED BY THE ADMINISTRATOR. (a) Subject to the control, direction and supervision of the Board of Trustees of the Trust ("Board") and in compliance with the objectives, policies and limitations set forth in the Trust's Registration Statement, Declaration of Trust and By-Laws; applicable laws and regulations; and all resolutions and policies implemented by the Board, the Administrator shall have general responsibility for the oversight of the Trust's administrative operations and will provide the following services: (i) Trust Administration, (ii) Compliance Services, and (iii) Trust Accounting. A detailed description of each of the above services is contained in Schedules B and C, respectively, to this Agreement. (b) The Administrator will also: (i) provide, without additional cost to the Trust except for out-of-pocket expenses, office facilities in an appropriate location with respect to the provision of the services contemplated herein (which may be in the offices of the Administrator or a corporate affiliate of the Administrator); (ii) provide, without additional remuneration from, or other cost to, the Trust except for out-of-pocket expenses, the services of individuals to serve as officers of the Trust who will be designated by the Administrator and elected by the Board subject to reasonable Board approval; (iii) provide or otherwise obtain, without additional remuneration from or other cost to the Trust except for out-of-pocket expenses, personnel sufficient for provision of the services contemplated herein; (iv) furnish, at no additional cost to the Trust except for out-of-pocket expenses, equipment and other materials, which are necessary or desirable for provision of the services contemplated herein; and (v) keep records, at no additional cost to the Trust except for out-of-pocket expenses, relating to the services provided hereunder in such form and manner as the Administrator may deem appropriate or advisable.