Common use of Registered Representatives Clause in Contracts

Registered Representatives. (i) Distributor shall have as a registered representative such employees of the Funds' investment advisors as the parties mutually shall agree ("Dual Representatives"). Distributor may terminate the registration with Distributor of any such Dual Representative with or without cause at any time, in its sole discretion. Each Dual Representative shall be subject to and shall comply fully with such operating and other policies and procedures as may be established from time to time by Distributor and communicated to such Dual Representative (the "Procedures") and all applicable laws, rules and regulations. In no event and under no circumstances shall any Dual Representative provide investment advice or make any recommendations about any investment including an investment in the Funds during the scope of such Dual Representative's registration by UMBDS pursuant to this Agreement. (ii) Distributor may designate the principal office of a Fund's investment advisor as either a branch office or an office of supervisory jurisdiction of Distributor. (iii) Distributor shall not offer, and Dual Representatives shall not be entitled to, any benefits otherwise available to employees of Distributor and shall not be entitled to any compensation from Distributor.

Registered Representatives. (i) Distributor shall have as a registered representative such employees of the Funds' ’ investment advisors as the parties mutually shall agree ("“Dual Representatives"”). Distributor may terminate the registration with Distributor of any such Dual Representative with or without cause at any time, in its sole discretion. Each Dual Representative shall be subject to and shall comply fully with such operating and other policies and procedures as may be established from time to time by Distributor and communicated to such Dual Representative (the "“Procedures"”) and all applicable laws, rules and regulations. In no event and under no circumstances shall any Dual Representative provide investment advice or make any recommendations about any investment including an investment in the Funds during the scope of such Dual Representative's ’s registration by UMBDS pursuant to this Agreement. (ii) Distributor may designate the principal office of a Fund's ’s investment advisor as either a branch office or an office of supervisory jurisdiction of Distributor. (iii) Distributor shall not offer, and Dual Representatives shall not be entitled to, any benefits otherwise available to employees of Distributor and shall not be entitled to any compensation from Distributor.