Services to the Fund Clause Samples
The 'Services to the Fund' clause defines the specific duties and responsibilities that a service provider agrees to perform for a fund under a contractual arrangement. Typically, this clause outlines the scope of services such as administrative support, investment management, compliance monitoring, or reporting obligations, and may detail performance standards or deliverables expected from the provider. By clearly delineating the services to be rendered, this clause ensures both parties have a mutual understanding of expectations, thereby reducing the risk of disputes and promoting accountability.
Services to the Fund. 1.1 You are hereby authorized to retain one or more distributors (the "Distributors") for the shares of common stock of the Fund (the "Shares") in accordance with the instructions of the Company's Board of Directors and the Fund's registration statement and then current prospectus and statement of additional information under the Securities Act of 1933, as amended. You shall monitor the activities of the Distributors and report quarterly to the Board of Directors as to the performance of the Distributors. Additionally you shall provide the reports required by Paragraph 5 of the Plan.
(a) You, at your own expense, shall finance appropriate activities which you deem reasonable which are primarily intended to result in the sale of Shares, including, but not limited to, advertising, compensation of the Distributors, the printing and mailing of prospectuses to other than current shareholders and the printing and mailing of sales literature.
(b) All Shares offered for sale by the Distributors shall be offered for sale to the public at a price per Share equal to their net asset value (determined in the manner set forth in the Fund's Registration Statement and then current prospectus and statement of additional information).
(c) You are authorized to reimburse ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Incorporated ("▇▇▇▇▇▇▇▇") for expenses actually incurred by ▇▇▇▇▇▇▇▇ in distributing or promoting the sale of Shares. You are also authorized to pay ▇▇▇▇▇▇▇▇ an amount equal to $225 per hour, or such other rate as you and ▇▇▇▇▇▇▇▇ may agree from time to time, for services provided by ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ in his capacity as President of ▇▇▇▇▇▇▇▇ related to the distribution of Shares. The obligation to pay ▇▇▇▇▇▇▇▇ shall be your obligation and not an obligation of the Fund. You are also authorized to pay other Distributors such fees that you negotiate with them in accordance with paragraph 1.1(a), all of such payments to be your obligations and not the obligation of the Fund.
(d) In exchange for such services, the Fund agrees to pay you fees on an annualized basis of 0.25% of the Fund's average daily net assets.
1.2 Your agreement with Distributors shall provide that it shall act as distributor of the Shares in compliance with all state and federal laws, rules and regulations and the Rules of Fair Practice of the National Association of Securities Dealers, Inc.
1.3 Whenever in their judgment such action is warranted by market, economic or political conditions, or by circumstances of any kind, t...
Services to the Fund. The parties hereto hereby acknowledge and recognize that the Fund has retained, and may in the future retain, the services of various persons, entities and professionals, including legal counsel, accountants, architects and engineers, for the purposes of representing and providing services to the Fund in connection with the investigation, consummation and operation of the Fund Investments or otherwise. The parties hereby acknowledge that such persons, entities and professionals may have in the past represented and performed and currently and in the future may represent or perform services for the General Partner or its Affiliates. Accordingly, each party hereto consents to the representation or provision of services by such persons, entities and professionals to the Fund and waives any right to claim a conflict of interest solely on the grounds of such relationship. Nothing contained herein shall relieve the General Partner of any duty or liability it would otherwise have to the Fund, including the duty to monitor and direct such persons, entities and professionals for the best interests of the Fund.
Services to the Fund. 1.1 You are hereby authorized to retain a distributor (the "Distributor") for the shares of common stock of the Fund (the "Shares") in accordance with the instructions of the Fund's Board of Directors and the Fund's registration statement and then current prospectus and statement of additional information under the Securities Act of 1933, as amended. You shall monitor the activities of the Distributor and report quarterly to the Board of Directors as to the performance of the Distributor. Additionally you shall provide the reports required by Paragraph 5 of the Plan.
(a) You, at your own expense, shall finance appropriate activities which you deem reasonable which are primarily intended to result in the sale of Shares, including, but not limited to, advertising, compensation of the Distributor, the printing and mailing of prospectuses to other than current shareholders and the printing and mailing of sales literature.
(b) All Shares offered for sale by the Distributor shall be offered for sale to the public at a price per Share equal to their net asset value (determined in the manner set forth in the Fund's Registration Statement and then current prospectus and statement of additional information).
(c) You are authorized to pay the Distributor a fee equal to 1% of the net asset value of all Shares sold other than Shares sold pursuant to the reinvestment of dividends. The obligation to pay the Distributor shall be your obligation and not an obligation of the Fund. Your agreement with the Distributor shall provide that if any Shares are redeemed within one month after the date of original purchase, the Distributor shall repay to you the fee earned with respect to the original sale of such Shares; provided, however, that such fees shall not be required to be repaid in the event of death or disability of the shareholder. Your agreement with the Distributor shall provide that in determining whether the Distributor is required to repay fees with respect to a redemption of less than all of a shareholder's Shares, Shares which have been held for one month will be considered to have been redeemed first and then other Shares in the order purchased.
(d) In exchange for such services, the Fund agrees to pay you quarterly fees in an amount equal to the amount of fees paid to the Distributor pursuant to Section 1.1(c) less any amount repaid by Distributor; provided, however, that the fees paid hereunder in any fiscal year of the Fund shall not exceed 0.75% of the averag...