DDA Balance Earnings Credits definition

DDA Balance Earnings Credits. The Transfer Agent shall retain the first $50,000 monthly for mutual fund and SIMPLE DDA’s after the split with the financial institution and once all fees and charges are paid and then shall split the remaining monthly amount with the client 50%/50%. Should fees after the financial institution split and fees and charges be less than $50,000, there will be no split with the client.
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DDA Balance Earnings Credits. The Transfer Agent shall retain the first $50,000 monthly for mutual fund and SIMPLE DDA’s after the split with the financial institution and once all fees and charges are paid and then shall split the remaining monthly amount with the client 50%/50%. Should fees after the financial institution split and fees and charges be less than $50,000, there will be no split with the client. Remote Automated Work Distributor™ (AWD) Workstations5: Three (3) remote AWD workstations (total, not per fund) will be provided at two locations at no charge to the Funds. Terminal charges for any additional remote AWD workstations will be billed to the Funds.
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DDA Balance Earnings Credits. The parties acknowledge that the Transfer Agent and the Funds have received certain fee concession from the Sub-Transfer Agent in the terms of this Schedule 3.1. Accordingly, as part of the overall fee arrangement and in lieu of additional fees, the Sub-Transfer Agent shall retain up to the first $1 million in DDA balance earnings credits received, per year, on the DDAs maintained by the Sub-Transfer Agent in connection with performing the services for the Transfer Agent and the Funds under this Agreement. The DDA balance earnings credits per year calculation shall be based on the contract term cycle of October 1st through September 30th rather than on a calendar year. Any balance earnings credits in excess of $1 million received on such DDAs shall be divided equally between the Sub-Transfer Agent and the Funds. Out-of-Pocket Expenses: Billed as incurred in accordance with Section 3.2 of the Agreement. Out-of-pocket expenses, including but are not limited to confirmation production, postage, forms, telephone, microfilm, mailing and tabulating proxies, records storage and advances incurred by the Sub-Transfer Agent. The Transfer Agent will pay a flat fee of $20,000/month for reports stored on COOL in lieu of paying Microfiche charges. BOSTON FINANCIAL NYLIM SERVICE COMPANY LLC DATA SERVICES, INC.
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Related to DDA Balance Earnings Credits

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Account Balance means, with respect to a Participant, an entry on the records of the Employer equal to the sum of (i) the Deferral Account balance, (ii) the Company Contribution Account balance, and (iii) the Company Restoration Matching Account balance. The Account Balance shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.