Systematic Payment. Upon receipt by the Custodian of each Planholder payment, (including the initial payment) the Custodian shall: a. Stamp and record the date of its receipt of the payment; b. Forward for collection the payment check; c. Deduct from the payment the amount, if any, of any original issue, stock transfer or other taxes, if applicable, and apply the appropriate amounts to the purchase of the necessary documentary stamps or to payments to the proper taxing authorities; d. Deduct from the payment applicable fees of the Sponsor, dealers of record and the Custodian as set forth in the attached schedules, and the Prospectus, and credit such deductions to the Sponsor, dealers of record or the Custodian as the case may be; e. Apply the balance of the payment to the purchase of Fund Shares as provided in paragraph II(C)(1) below; f. Prepare and mail to the Planholder a confirmation of purchase of Fund Shares in a form approved by the Sponsor, substantially in the form attached hereto in Schedule C, which shall conform to Rule 10b-10 of the 1934 Act (or any successor rule) showing the Plan account number, amount of the payment received, date of receipt, the amount and nature of authorized deductions, the price paid per Fund Share, the number of such Fund Shares purchased after the deductions, the total number of Fund Shares then held by the Custodian for the Planholder, and the due date of the Planholder's next payment. Confirmation of the purchase of Fund Shares shall be mailed promptly by the Custodian to the Planholder, and to the Planholder's dealer; g. In the event that any check or other order for the payment of money is returned unpaid for any reason, the Custodian shall, in the absence of other instructions from the Sponsor, take such steps as may be necessary to cancel promptly any shares purchased on the basis of such returned check and shall cancel accumulated dividends for such account. The Custodian shall notify the Planholder of the cancellation of the purchase and return the check to the Planholder; and h. Any notices, if generated by Custodian automatically, relating to missed payments by Planholders shall be collected and delivered to the Sponsor on a monthly basis.
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Sources: Custodian Agreement (Aim Summit Investors Plans Ii), Custodian Agreement (Aim Summit Investors Plans Ii)
Systematic Payment. Upon receipt by the Custodian of each Planholder payment, (including the initial payment) the Custodian shall:
a. Stamp and record the date of its receipt of the payment;
b. Forward for collection the payment check;
c. Deduct from the payment the amount, if any, of any original issue, stock transfer or other taxes, if applicable, and apply the appropriate amounts to the purchase of the necessary documentary stamps or to payments to the proper taxing authorities;
d. Deduct from the payment applicable fees of the Sponsor, dealers of record Sponsor and the Custodian as set forth in the attached schedules, and the Prospectus, and credit such deductions to the Sponsor, dealers of record Sponsor or the Custodian as the case may be;
e. Apply the balance of the payment to the purchase of Fund Shares as provided in paragraph II(C)(1) below;
f. Prepare and mail to the Planholder a confirmation of purchase of Fund Shares in a form approved by the Sponsor, substantially in the form attached hereto in Schedule C, which shall conform to Rule 10b-10 of the 1934 Act (or any successor rule) showing the Plan account number, amount of the payment received, date of receipt, the amount and nature of authorized deductions, the price paid per Fund Share, the number of such Fund Shares purchased after the deductions, the total number of Fund Shares then held by the Custodian for the Planholder, and the due date of the Planholder's next payment. Confirmation of the purchase of Fund Shares shall be mailed promptly by the Custodian to the Planholder, and to the Planholder's dealer;
g. In the event that any check or other order for the payment of money is returned unpaid for any reason, the Custodian shall, in the absence of other instructions from the Sponsor, take such steps as may be necessary to cancel promptly any shares purchased on the basis of such returned check and shall cancel accumulated dividends for such account. The Custodian shall notify the Planholder of the cancellation of the purchase and return the check to the Planholder; and
h. Any notices, if generated by Custodian automatically, relating to missed payments by Planholders shall be collected and delivered to the Sponsor on a monthly basis.
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