Delegated Duties definition

Delegated Duties shall have the meaning ascribed thereto in Schedule 2.2(f) hereto.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Delegated Duties has the meaning set forth in Section 11.2a.

Delegated Duties has the meaning ascribed thereto in Section 2.02, and is deemed also to include those duties and obligations delegated to the Administrator pursuant to the terms of the Trust Indenture;

Examples of Delegated Duties in a sentence

• Additionally, the parties acknowledge and agree that the Transfer Agent shall only be responsible for performing the Delegated Duties with respect to the ownership of, and transactions in, shares in the Fund for which the Transfer Agent maintains the applicable shareholder information.

• In connection with the performance by the Transfer Agent of the Delegated Duties, the Transfer Agent understands and acknowledges that the Fund remains responsible for assuring compliance with the USA PATRIOT Act and that the records the Transfer Agent maintains for the Fund relating to the AML Program may be subject, from time to time, to examination and/or inspection by federal regulators in order that the regulators may evaluate such compliance.

• The Fund acknowledges and agrees that in accepting the delegation hereunder, the Transfer Agent is agreeing to perform only the Delegated Duties, as may be amended from time to time, and is not undertaking and shall not be responsible for any other aspect of the AML Program or for the overall compliance by the Fund with the USA PATRIOT Act or for any other matters that have not been delegated hereunder.

• Additionally, the parties acknowledge and agree that CFS shall only be responsible for performing the Delegated Duties with respect to the accounts for which CFS maintains the applicable shareholder information.

• CFS shall keep all records relating to the Delegated Duties for an appropriate period of time and, at a minimum, the period of time required by applicable law or regulation.

• The Delegated Duties set forth in Section 4 may be amended, from time to time, by mutual agreement of the Fund and the Transfer Agent upon the execution by such parties of a revised Schedule 1.2(f) bearing a later date than the date hereof.

• The Delegated Duties set forth in Section 4 may be amended, from time to time, by mutual agreement of the Trust and CFS upon the execution by such parties of a revised Schedule B bearing a later date than the date hereof.

• The Fund acknowledges and agrees that in accepting the delegation hereunder, CFS is agreeing to perform only the Delegated Duties, as may be amended from time to time, and is not undertaking and shall not be responsible for any other aspect of the AML Program or for the overall compliance by the Fund with the USA PATRIOT Act or for any other matters that have not been delegated hereunder.

• Additionally, the parties acknowledge and agree that the Transfer Agent shall only be responsible for performing the Delegated Duties with respect to the ownership of, and transactions in, the Accounts for which the Transfer Agent maintains the applicable shareholder information.

• In connection with the performance by CFS of the Delegated Duties, CFS understands and acknowledges that the Fund remains responsible for assuring compliance with the USA PATRIOT Act of 2001 (“USA PATRIOT Act”) and the laws implementing the USA PATRIOT Act and that the records CFS maintains for the Fund relating to the AML Program may be subject, from time to time, to examination and/or inspection by federal regulators in order that the regulators may evaluate such compliance.

More Definitions of Delegated Duties

Delegated Duties. With respect to the Shares in the Fund for which the Transfer Agent maintains the applicable Shareholder information and in accordance with AML Laws, the Transfer Agent will perform the procedures set forth in its AML procedures (“DST AML Procedures”), which have been made available to the Fund by the Transfer Agent and which may be amended from time to time upon written notice to the Fund, which include, but are not limited to, the following: Customer Identification Program. The Transfer Agent will maintain a CIP in accordance with AML Laws and all implementing rules and regulations and, under such CIP, will perform CIP and provide the following services to the Fund: (i) take reasonable steps to verify the identity of any individuals seeking to become new customers of the Fund and notify the Fund in the event such person cannot be verified, (ii) except with respect to any entities excluded under applicable regulation: take reasonable steps to verify the identity of legal entities seeking to become new customers of the Fund, including verifying the identity of the natural person(s) retaining ownership or controlling interest in such legal entity (the “Beneficial Owner(s)”), as such ownership and controlling interests are defined under applicable regulation and notify the Fund in the event that the identity of such Beneficial Owner(s) is not provided upon request to such entity or cannot be verified, (iii) maintain records of the information used by the Transfer Agent to verify the customer’s identity; and (iv) determine whether a customer appears on any applicable list of known or suspected terrorists or terrorist organizations issued by any government agency.

Delegated Duties means (i) the receipt of all payments to the Administrative Agent in respect of the Revolving Facility for the benefit of the Revolving Lenders and Issuing Banks pursuant to the terms of the Amended Credit Agreement or any other Loan Document and the application of such payments to the Obligations in respect of the Revolving Facility in accordance with the terms thereof; (ii) the distribution of payments received by Sub-Agent in respect of the Obligations under the Revolving Facility (including payments in respect of Unreimbursed Amounts) to the Revolving Lenders and Issuing Banks, and the receipt of Cash Collateral in respect of the Letters of Credit, in each case in accordance with the provisions of the Amended Credit Agreement; (iii) the receipt of proceeds of the Revolving Loans from the Revolving Lenders pursuant to the terms of the Amended Credit Agreement and the distribution of such proceeds to the Borrower or the applicable Issuing Bank, as applicable, in each case in accordance with the terms of the Amended Credit Agreement; (iv) the receipt of any Committed Loan Notice in respect of Revolving Loans and distribution of such notice to the Revolving Lenders, (v) the maintenance of the Register solely with respect to the Revolving Facility pursuant to the terms of Section 10.07(c) of the Amended Credit Agreement and the processing and recordation of any termination, reduction or assignment of the Revolving Credit Commitments, the “L/C Commitments or the L/C Sublimit and the receipt of notice thereof and the distribution of such notices to the Revolving Lenders, Administrative Agent and the Issuing Banks, in each case, in accordance with the terms of the Amended Credit Agreement; (vi) the determination of the Overnight Rate with respect to the Obligations under the Revolving Facility pursuant to the terms of the Amendment Credit Agreement; (vii) any determinations under Section 3.03(2) of the Amended Credit Agreement pursuant to the terms thereof, (viii) the provision or withholding of consent in respect of any assignment of Revolving Commitments or Revolving Exposure, (ix) the incurrence and payment of such expenses as the Sub-Agent may reasonably deem necessary or appropriate for the performance and fulfillment of its functions and powers pursuant to this Section 4 and the Amended Credit Agreement, (x) the taking of such actions set forth in Section 8.02 of the Amended Credit Agreement under the circumstances described in clause (b) of the proviso ...