Common use of TRANSFER AGENCY AND DIVIDEND DISTRIBUTION SERVICES Clause in Contracts

TRANSFER AGENCY AND DIVIDEND DISTRIBUTION SERVICES. The Administrator shall perform or supervise the performance by others of the transfer agency and dividend distribution services set forth in Schedule B hereto. The Administrator may sub-contract with third parties to perform certain of the services to be performed by the Administrator hereunder; provided, however, that the Administrator shall remain responsible to the Trust for the acts and omissions of such other entities. In meeting its duties hereunder, Administrator shall have the general authority to do all acts deemed in the Administrator's good faith belief to be necessary and proper to perform its obligations under this Agreement. The Trust agrees that it shall promptly inform the Administrator of the declaration of any dividend or distribution on its Shares, and that on or before the payment date of a distribution, it shall instruct the custodian to make available, at the instruction of the Administrator, as dividend distributing agent, sufficient funds for the cash amount to be paid out. In registering transfers, the Administrator may rely upon the opinion of counsel in not requiring complete documentation, in registering transfers without inquiry into adverse claims, in delaying registration for purposes of such inquiry, or in refusing registration when in its judgment an adverse claim requires such refusal.