As the Accounting Agent Sample Clauses
The "As the Accounting Agent" clause designates a specific party, typically a financial institution, to act as the central administrator for managing and recording financial transactions under an agreement. In practice, this agent is responsible for tasks such as calculating interest, distributing payments, and maintaining records for all parties involved. By assigning these duties to a single entity, the clause ensures consistency, accuracy, and efficiency in the financial administration of the contract, reducing the risk of errors and disputes among the parties.
As the Accounting Agent. The Accounting Agent shall provide the following services, in each case, subject to the control, supervision and direction of the respective Trust and its Board and in accordance with procedures which may be established from time to time between the Trust and the Accounting Agent (including the procedures established in the “Service Level Agreement” as defined in Section V of this Agreement):
As the Accounting Agent