Common use of Duties and Responsibilities of the Parties Clause in Contracts

Duties and Responsibilities of the Parties. 2.1 The Investor Government may deposit money in the account, withdraw money from the account in a time and manner prescribed by ▇▇▇▇, or terminate the account, pursuant to the provisions of the statute and SBI policies and procedures. 2.2 The Investor Government may provide investment direction to PERA, subject to SBI policies and procedures. 2.3 The Investor Government understands that PERA and SBI shall have no obligation to monitor the Investor Government’s ongoing compliance with the statute. The Investor Government further agrees that ▇▇▇▇ and SBI may conclusively presume, without further inquiry, the Investor Government’s ongoing compliance with the terms of the statute without any liability on the part of PERA or the SBI, and that the Investor Government shall be solely responsible for ensuring that the type, source, amount, and purpose of funds invested comply with the statute and SBI policies and procedures. 2.4 The Investor Government is solely responsible for its failure to meet the requirements of the statute. 2.5 PERA shall act as the account administrator and shall administer the government’s long term equity investment account as a separate account in accordance with the terms of the statute. 2.6 During the term of this Agreement, ▇▇▇▇ as account administrator and SBI in offering investment options, may rely on the representations by the Investor Government and have no duty to further verify qualifications, use, or intended use of the funds that are invested or withdrawn. 2.7 PERA shall certify all amounts in the accounts for which it is account administrator to the SBI pursuant to the terms of the statute subject to the policies and procedures of the SBI. 2.8 PERA shall provide instructions on its website on how to deposit assets to and withdraw assets from the investment account. 2.9 PERA shall keep a separate accounting of assets received, monthly investment returns, withdrawals, and investment fees and shall provide a report on the invested funds and on all investment fees or costs incurred by the account to the Investor Government owning the account.

Duties and Responsibilities of the Parties. 2.1 The Investor Government may deposit money in the account, withdraw money from the account in a time and manner prescribed by ▇▇▇▇PERA, or terminate the account, pursuant to the provisions of the statute and SBI policies and procedures. 2.2 The Investor Government may provide investment direction to PERA, subject to SBI policies and procedures. 2.3 The Investor Government understands that PERA and SBI shall have no obligation to monitor the Investor Government’s ongoing compliance with the statute. The Investor Government further agrees that ▇▇▇▇ PERA and SBI may conclusively presume, without further inquiry, the Investor Government’s ongoing compliance with the terms of the statute without any liability on the part of PERA or the SBI, and that the Investor Government shall be solely responsible for ensuring that the type, source, amount, and purpose of funds invested comply with the statute and SBI policies and procedures. 2.4 The Investor Government is solely responsible for its failure to meet the requirements of the statute. 2.5 PERA shall act as the account administrator and shall administer the government’s long term equity investment account as a separate account in accordance with the terms of the statute. 2.6 During the term of this Agreement, ▇▇▇▇ PERA as account administrator and SBI in offering investment options, may rely on the representations by the Investor Government and have no duty to further verify qualifications, use, or intended use of the funds that are invested or withdrawn. 2.7 PERA shall certify all amounts in the accounts for which it is account administrator to the SBI pursuant to the terms of the statute subject to the policies and procedures of the SBI. 2.8 PERA shall provide instructions on its website on how to deposit assets to and withdraw assets from the investment account. 2.9 PERA shall keep a separate accounting of assets received, monthly investment returns, withdrawals, and investment fees and shall provide a report on the invested funds and on all investment fees or costs incurred by the account to the Investor Government owning the account.