Exhibit (m)
SERVICING AGREEMENT
Agreement made as of this 13th day of March, 1992 between each Fund listed on
Appendix A (each such fund individually hereinafter referred to as the "Fund"
and, collectively, the "Funds") and General Electric Investment Corporation, a
Delaware corporation (the "Company").
WITNESSETH:
WHEREAS, the Company has agreed to furnish each Fund with certain services in
connection with the administration thereof, all as herein provided,
NOW THEREFORE, in consideration of the mutual covenants herein set forth, the
parties hereto agree as follows:
Services to be Performed
The Company shall provide each Fund with the administrative and clerical
services in connection with:
the maintenance of unitholder records, which shall show the ownership of
interests in such Fund ("Units");
the issuance, transfer, cancellation and redemption of Units;
the receipt of money for Units purchased and transmittal of funds to a bank
account specified by Trustees of such Fund;
the making of all payments and distributions in connection with Units; and
the performance of such other administrative services for such Fund as the
Trustees thereof may wish to have performed by the Company.
Compensation
Each Fund will, within thirty (30) days after receipt of an invoice
therefor, reimburse the Company for its costs (direct or indirect) of
providing the services specified in Paragraph 1 above, but without any
provision for profit to the Company or its employees.
Records
The Company shall maintain such books and records with respect to its
activities hereunder is may be required from time to time by applicable law
and as the Trustees of each Fund may, in addition, reasonably request. The
Company
shall, from time to time, furnish the Trustees of each Fund with such data,
reports and other information maintained or compiled by the Company in
connection with its performance of the services provided for in Paragraph 1
above as such Trustees may reasonably request. In the event that this
Agreement should be terminated, the Company will transmit to the Trustees
of each Fund on the termination date all records in its possession relating
to its services performed hereunder. The Company shall make available its
books and records to the Trustees of each Fund and their agents, counsel
and accountants as and when requested by such Trustees for purposes of
audit or otherwise.
Communications
All communications between the Company and the Trustees of each Fund may be
made orally or in writing and the Company may rely on any such
communications if it shall believe in good faith that the same have been
given to it by a Trustee of such Fund or other person duly authorized on
their behalf.
Amendment
This Agreement may only be modified or amended or the terms thereof waived
by an instrument in writing signed by the person or entity against whom
such amendment, modification or waiver is sought to be enforced.
Termination
This Agreement may be terminated (i) by the Company with respect to any or
all the Funds or (ii) by any Fund with respect to the Company at any time
by giving sixty (60) days' prior written notice thereof to the appropriate
party hereto. This agreement may not be assigned or transferred except with
the agreement of all parties hereto and any such attempted assignment or
transfer without such agreement shall be null, void and of no effect.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
day and the year first above written.
GENERAL ELECTRIC INVESTMENT CORPORATION
By: /s/ Xxxx X. Xxxxx
Xxxx X. Xxxxx, Executive
Vice President
TRUSTEES OF EACH OF:
ELFUN DIVERSIFIED FUND
ELFUN GLOBAL FUND
ELFUN INCOME FUND
ELFUN TAX-EXEMPT INCOME FUND
ELFUN TRUSTS
ELFUN MONEY MARKET FUND
By: /s/ Xxxx X. Xxxxx
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Xxxx X. Xxxxx, Trustee
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APPENDIX A
Fund Name
Elfun Diversified Fund
Elfun Global Fund
Elfun Income Fund
Elfun Tax Exempt Income Fund
Elfun Trust
Elfun Money Market Fund
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