Exhibit (g)(6)
[NATIONAL CITY BANK LETTERHEAD]
September 8, 2005
Allegiant Funds
000 Xxxxxx Xxxxxx, 0xx Xxxxx
Xxxxxxxxx, Xxxx 00000
To Whom It May Concern:
Reference is hereby made to that certain Custodian Services Agreement,
dated as of November 7, 1994 (the "Agreement"), by and between National City
Bank, as Custodian ("Custodian"), and Allegiant Funds (formerly known as Armada
Funds) ("Fund"), pursuant to which Custodian provides Fund with certain custody
services.
Custodian has recently proposed a new Fee Schedule, a copy of which is
attached hereto as Annex A, which Fee Schedule is intended to govern the fees
charged by Custodian to Fund pursuant to Section 11 of the Agreement. If such
new Fee Schedule is acceptable, please arrange for execution of a counterpart of
this letter and return such counterpart to Custodian. By Fund's execution
hereof, Fund acknowledges and agrees that effective July 1, 2005 the new Fee
Schedule replaced, in its entirety, any previous agreement between Custodian and
Fund regarding fees and that the Agreement, as amended, remains in full force
and effect.
Please feel free to contact us if you have any thoughts or concerns
regarding this matter. We appreciate your attention.
Very truly yours,
NATIONAL CITY BANK, as Custodian
By: /s/ Xxx X. Xxxxxx
---------------------------------
Xxx X. Xxxxxx, Executive Vice President
Acknowledged and agreed this
13th day of September, 2005
ALLEGIANT FUNDS
By: /s/ Xxxxxxxx Xxxx
-----------------------
Xxxxxxxx Xxxx, Chief Administrative & Compliance Officer
ANNEX A
FEE SCHEDULE
ASSET BASED FEES:
The following fee will be calculated daily based upon the Fund's prior day
average gross assets and payable monthly, in the following amounts:
o 7 Basis Points of the first $5 Billion of average gross assets;
o 4 Basis Points of the next $5 Billion of average gross assets; and
o 2 Basis Points in excess of $10 Billion of the average gross assets
TRANSACTION CHARGES:
OUT-OF-POCKET EXPENSES (monthly operating fee per account):
o Including postage, telephone, overnight courier fees $150.00
FOREIGN AND DOMESTIC
o Pass thru invoices from sub-custodian with no mark-up
FEDERAL RESERVE AND WIRE FEES (each):
o Outgoing wires $10.00
o Incoming wires No Charge
OVERDRAFT CHARGES (Excluding overdrafts caused by National City Bank
error the following fees may be assessed):
o Per transaction $30.00
o Plus an overdraft rate of federal funds rate on the negative overdraft
position starting the date the overdraft first occurs and ending on the
date the overdraft is cleared.
EXTRAORDINARY FEES/SPECIAL REPORTING/CERTIFICATION CHARGE
o Special requests may be assessed a fee at a per hour charge of $50.00
o Daily reconcilement to PFPC at a per hour charge of $50.00
MINIMUM MONTHLY FEE: None
