What X.X. Xxxxxx is Required to Do. 2.1 The Services
(a) The Customer hereby appoints X.X. Xxxxxx to act as sub-administrator, and to provide the Services, with respect to each of the Funds and X.X. Xxxxxx agrees to act as sub-administrator, and to provide the Services, with respect to the Funds (subject to any limitations notified by the Customer to X.X. Xxxxxx in writing and subject to any requirements or restrictions imposed on the performance of such functions by any statutory provisions for the time being in force), until this Agreement is terminated as hereinafter provided.
(b) X.X. Xxxxxx shall act as agent of the Customer and/or the Funds solely with respect to the duties of X.X. Xxxxxx described in this Agreement.
(c) The Customer acknowledges that X.X. Xxxxxx is not providing any legal, tax or investment advice in providing the Services. X.X. Xxxxxx acknowledges that it has an obligation of care with regard to the preparation of the tax reporting included in the Services.
What X.X. Xxxxxx is Required to Do. 2.1 Set Up Accounts
(a) X.X. Xxxxxx will establish and maintain the following accounts (“Accounts”):
(i) one or more Securities Accounts in the name of the Customer (or in another name requested by the Customer that is acceptable to X.X. Xxxxxx) for Financial Assets, which may be held by X.X. Xxxxxx or a Securities Depository for X.X. Xxxxxx on behalf of the Customer, including as an Entitlement Holder; and
(ii) one or more accounts in the name of the Customer (or in another name requested by the Customer that is acceptable to X.X. Xxxxxx) (“Cash Account”) for any and all cash received by or on behalf of X.X. Xxxxxx for the account of the Customer.
(b) At the request of the Customer, additional Accounts may be opened in the future, and such additional Accounts shall be subject to the terms of this Agreement.
(c) In the event that the Customer requests the opening of any additional Account for the purpose of holding collateral pledged by the Customer to a securities exchange, clearing corporation, or other central counterparty (a “Counterparty”) to secure trading activity by the Customer, or the pledge to a Counterparty of cash or individual Securities held in an Account, that Account (or the pledged cash or Securities) shall be subject to the collateral arrangements in effect between X.X. Xxxxxx and the Counterparty in addition to the terms of this Agreement.
(d) X.X. Xxxxxx’x obligation to open Accounts pursuant to Section 2.1(a) is conditional upon X.X. Xxxxxx receiving such of the following documents as X.X. Xxxxxx may require:
(i) a certified copy of the Customer's constitutional documents as currently in force;
(ii) evidence reasonably satisfactory to X.X. Xxxxxx of the due authorization and execution of this Agreement by the Customer (for example by a certified copy of a resolution of the Customer's board of directors or equivalent governing body, substantially in the form set out in Schedule 1);
(iii) X.X. Xxxxxx’x standard form fund manager mandate completed by the fund manager designated by the Customer; and
(iv) in the case of any Account opened in a name not that of the Customer, documentation with respect to that name similar to that set forth in sub-sections (i) – (iii).
(e) X.X. Xxxxxx reserves the right to reverse any transactions that were credited to the Accounts due to mis-postings and other similar causes.
What X.X. Xxxxxx is Required to Do. 2.1 The Services.
(a) The Trust hereby appoints X.X. Xxxxxx to act as administrator of and to provide the Services with respect to each of the Funds and X.X. Xxxxxx agrees to act as administrator of and to provide the Services with respect to the Funds (subject to any limitations notified by the Trust to X.X. Xxxxxx in writing and subject to any requirements or restrictions imposed on the performance of such functions by any statutory provisions for the time being in force), until this Agreement is terminated as hereinafter provided.
(b) The Trust shall not permit the Registration Statement to be amended in any way inconsistent with the terms and conditions of the Agreement.
(c) X.X. Xxxxxx shall act as agent of the Trust and/or the Funds solely with respect to the duties of X.X. Xxxxxx described in this Agreement.
(d) The Trust acknowledges that X.X. Xxxxxx is not providing any legal, tax or investment advice in providing the Services.
What X.X. Xxxxxx is Required to Do. 2.1 The Services
(a) The Customer hereby appoints X.X. Xxxxxx to act as administrator and transfer agent of and to provide the Services with respect to each of the Funds and X.X. Xxxxxx agrees to act as administrator and transfer agent of and to provide the Services with respect to the Funds (subject to any limitations notified by the Customer to X.X. Xxxxxx in writing and subject to any requirements or restrictions imposed on the performance of such functions by any statutory provisions for the time being in force), until this Agreement is terminated as hereinafter provided.
(b) The Customer shall not permit the Registration Statement to be amended in any way inconsistent with the terms and conditions of the Agreement.
(c) X.X. Xxxxxx shall act as agent of the Customer and/or the Funds solely with respect to the duties of X.X. Xxxxxx described in this Agreement.
(d) The Customer acknowledges that X.X. Xxxxxx is not providing any legal, tax or investment advice in providing the Services.
What X.X. Xxxxxx is Required to Do. 2.1 Set Up Accounts
(a) X.X. Xxxxxx will establish and maintain the following accounts (“Accounts”):
(i) one or more Securities Accounts in the name of the Customer (or in another name requested by the Customer that is acceptable to X.X. Xxxxxx) for Financial Assets, which may be held by X.X. Xxxxxx or a Subcustodian or a Securities Depository for X.X. Xxxxxx on behalf of the Customer, including as an Entitlement Holder; and
(ii) one or more deposit accounts in the name of the Customer (or in another name requested by the Customer that is acceptable to X.X. Xxxxxx) (“Cash Account”) for any and all cash in any currency received by or on behalf of X.X. Xxxxxx for the account of the Customer. Notwithstanding paragraph 2.1(a)(ii), cash held in respect of those markets where the Customer is required to have a cash account in its own name held directly with the relevant Subcustodian or Securities Depository will be held in that manner and will not be part of the Cash Account.
(b) At the request of the Customer, additional Accounts may be opened in the future, and such additional Accounts shall be subject to the terms of this Agreement.
(c) In the event that the Customer requests the opening of any additional Account for the purpose of holding collateral pledged by the Customer to a securities exchange, clearing corporation, or other central counterparty (a “Counterparty”) to secure trading activity by the Customer, or the pledge to a Counterparty of cash or individual Securities held in an Account, that Account (or the pledged cash or Securities) shall be subject to the collateral arrangements in effect between X.X. Xxxxxx and the Counterparty in addition to the terms of this Agreement.
(d) X.X. Xxxxxx’x obligation to open Accounts pursuant to Section 2.1(a) is conditional upon X.X. Xxxxxx receiving such of the following documents as X.X. Xxxxxx may require:
(i) a certified copy of the Customer’s constitutional documents as currently in force;
(ii) evidence reasonably satisfactory to X.X. Xxxxxx of the due authorization and execution of this Agreement by the Customer (for example by a certified copy of a resolution of the Customer’s board of directors or equivalent governing body, substantially in the form set out in Schedule 2);
(iii) a fund manager mandate completed by the fund manager designated by the Customer; and (iv) in the case of any Account opened in a name not that of the Customer, documentation with respect to that name similar to that set forth in s...
