Whenever Fund Shares. are repurchased or redeemed by a Portfolio, Portfolio or its agent will give IFTC Instructions regarding the aggregate dollar amount to be paid for such shares. Upon receipt of such Instruction, IFTC will charge such aggregate dollar amount to the account of the Portfolio and either deposit the same in the account maintained for the purpose of paying for the repurchase or redemption of Fund Shares or deliver the same in accordance with such Instruction. IFTC has no duty or responsibility to determine that Fund Shares have been removed from the proper shareholder accounts or that the proper number of Fund Shares have been canceled and removed from the shareholder records.
Appears in 7 contracts
Samples: Custody and Investment Accounting Agreement (Quantitative Group of Funds), Custody Agreement (Ing Funds Trust), And Investment Accounting Agreement (FFP New Horizons Fund Inc)
