Common use of The Accounts Clause in Contracts

The Accounts. (a) Each Account will be opened upon completion of the application forms then applicable to the desired Fund. In connection with each Account, Service Organization represents and warrants that it is authorized to act on behalf of each Plan effecting transactions in the Account in connection with the Services pursuant to an agreement with the Plan Representative, and it is satisfied that the person or persons who signed Service Organization's contracts with the Plan were themselves properly authorized by the Plan and the entity which they represent. (b) The Funds shall designate each Account with an account number. Account numbers will be the means of identification when the parties are transacting in the Accounts. The assets in the Accounts are assets of the Plans and are segregated from Service Organization's own assets. Distributors agrees to cause the Accounts to be kept open on each Fund's books regardless of a lack of activity or small position size except to the extent Service Organization takes specific action to close an Account or to the extent the Fund's prospectus reserves the right to close accounts which are inactive or of a small position size. In the latter two cases, Distributors will give prior notice to Service Organization before closing an Account. (c) Service Organization agrees to provide Distributors, by the 1st day of each month, with (i) a report which indicates the number of Participants that hold, through a Plan, interests in each Account as of the last day of the prior month and (ii) such other information as Distributors may reasonably request concerning such Participants as may be necessary or advisable to enable Distributors to comply with applicable laws, including state "Blue Sky" laws relating to the sales of Fund shares to the Accounts.

The Accounts. (a) Each Account will be opened upon completion of the application forms then applicable to the desired Fund. In connection with each Account, Service Organization represents and warrants that it is authorized to act on behalf of each Plan effecting transactions in the Account in connection with the Services pursuant to an agreement with the Plan Representative, and it is satisfied that the person or persons who signed Service Organization's contracts with the Plan were themselves properly authorized by the Plan and the entity which they represent. (b) The Funds shall designate each Account with an account number. Account numbers will be the means of identification when the parties are transacting in the Accounts. The assets in the Accounts are assets of the Plans and are segregated from Service Organization's own assets. Distributors agrees to cause the Accounts to be kept open on each Fund's books regardless of a lack of activity or small position size except to the extent Service Organization takes specific action to close an Account or to the extent the Fund's prospectus reserves the right to close accounts which are inactive or of a small position size. In the latter two cases, Distributors will give prior notice to Service Organization before closing an Account. (c) Service Organization agrees to provide or have provided to Distributors, by the 1st day of each month, with (i) a report which indicates the number of Participants that hold, through a Plan, interests in each Account as of the last day of the prior month and (ii) such other information as Distributors may reasonably request concerning such Participants as may be necessary or advisable to enable Distributors to comply with applicable laws, including state "Blue Sky" laws relating to the sales of Fund shares to the Accounts.