Terms of Appointment and Duties Clause Samples
The 'Terms of Appointment and Duties' clause defines the conditions under which an individual or entity is engaged and outlines the specific responsibilities they are expected to fulfill. This clause typically details the scope of work, reporting lines, duration of the appointment, and any performance expectations or standards. By clearly setting out these terms, the clause ensures both parties understand their obligations, reducing the risk of misunderstandings and disputes regarding roles and responsibilities.
Terms of Appointment and Duties of the Bank as Transfer Agent -------------------------------------------------------------
A. Subject to the terms and conditions set forth in this Agreement, the Fund hereby employs and appoints the Bank to act as, and the Bank agrees to act as, transfer agent for the Fund's authorized and issued Shares, dividend disbursing agent and agent in connection with the purchase and redemption plans provided to the Shareholders and set out in the Private Placement Memorandum.
B. The Bank agrees that it will perform the following services:
(a) In connection with procedures established from time to time by agreement between the Fund and the Bank, the Bank shall:
(i) Receive for acceptance, orders for the purchase of Shares, and promptly deliver payment and appropriate documentation therefor to the Custodian;
(ii) Pursuant to purchase orders, issue the appropriate amount of Shares and hold such Shares in the appropriate Shareholder accounts;
(iii) Receive for acceptance, redemption requests and redemption directions and deliver the appropriate documentation therefor to the Custodian;
(iv) At the appropriate time as and when it receives monies or portfolio securities paid or delivered to it by the Custodian with respect to any redemption, pay over or deliver or cause to be paid over in the appropriate manner such monies or portfolio securities as instructed by the redeeming Shareholders;
(v) Prepare and transmit payments for dividends and distributions declared by the Fund;
(vi) Create and maintain all necessary records, and make available during regular business hours all records for inspection, as set forth in Section 13; and
(vii) Record the issuance of Shares of the Fund and maintain a record of the total amount of Shares of the Fund which are authorized, based upon data provided to it by the Fund, and issued and outstanding. The Bank shall also provide the Fund on a regular basis with the total amount of Shares which are authorized and issued and outstanding and shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares or to take cognizance of any laws relating to the issue or sale of such Shares, which functions shall be the sole responsibility of the Fund. In connection with the closings of the Fund, the Bank will notify the Fund and each Shareholder of the Fund participating in a closing, promptly of the number of full and fractional Shares held by such Shareholder.
(b) In addition to and not in lieu of the servi...
Terms of Appointment and Duties. 1.1 Appointment
(a) Subject to the terms and conditions set forth in this Agreement, the Trust hereby employs and appoints the Transfer Agent to act as, and the Transfer Agent agrees to act as, the transfer agent and dividend disbursing agent for the Shares and for the Shares of future portfolios of the Trust.
(b) The Transfer Agent ▇▇▇▇▇▇ accepts such appointment and agrees that it will act as the Trust's Transfer Agent and Dividend Disbursing Agent. The Transfer Agent agrees that it will also act as agent in connection with the Trust's periodic withdrawal payment accounts and other open accounts or similar plans for shareholders, if any.
(c) The Trust agrees to use its best efforts to deliver to the Transfer Agent, as soon as they are available, all of its shareholder account records for any new Fund of the Trust.
Terms of Appointment and Duties. 2.1 As Custodian of the Retirement Accounts, the Bank will be designated as the owner, on the records of the Fund.
2.2 Records of the Custodian's ownership of Shares of the Fund will be maintained by the transfer agent for such Shares in the name of the Bank as Custodian (or its nominee) and no physical Shares will be issued.
2.3 Under the terms of each Fund Prototype, the Bank as Custodian has no investment responsibility for the selection of investments for a Retirement Account and the Bank will have no liability for any investments made for a Retirement Account other than to maintain custody of the investments subject to the terms of this Amendment and the Agreement. The Fund will not state or make any representations to the contrary hereof.
2.4 The Bank will not serve as trustee or plan administrator of any Retirement Account, or in any other administrative or other capacity except as Custodian thereof. The Bank will not keep records of Retirement Accounts or maintain any other records except those that are necessary to serve as Custodian or as transfer agent pursuant to the Agreement. The Fund will not state or make any representations to the contrary hereof.
2.5 The Fund will upon reasonable advance notice make available access to its facilities and access to or copies of such records to the Bank as the Bank may request in order that the Bank may determine that the Fund is properly performing its duties and obligations hereunder. The Bank's right of access under this provision will include access to any service provider or service bureau performing any of the Fund's duties and obligations under this Agreement on behalf of the Fund.
Terms of Appointment and Duties. 1.1 Subject to the terms and conditions set forth in this Agreement, the Fund hereby employs and appoints Boston Financial to act as, and Boston Financial agrees to act as, its authorized agent in performing certain services for the Fund, as described in Schedule 1.1 to this Agreement (the “Services”).
1.2 Boston Financial shall perform the Services in accordance with its standard procedures, with such changes or deviations there from as may be agreed upon in writing by the parties from time to time (the “Procedures”).
Terms of Appointment and Duties. Section 1.1 of the Agreement is further amended by adding the following new subparagraphs:
Terms of Appointment and Duties. The following language is added as a new sub-section (m) in Section 1.1 of the Agreement:
Terms of Appointment and Duties. 1.1 Subject to the terms and conditions set forth in this Agreement, the Fund hereby appoints DST AMS to act as, and DST AMS agrees to act as, its authorized agent in performing certain services for the Fund, as described in Schedule 1.1 to this Agreement (the “Services”).
1.2 DST AMS shall perform the Services in accordance with its standard procedures, with such changes or deviations there from as may be agreed upon in writing by the parties from time to time (the “Procedures”).
1.3 In the event that a Fund establishes one or more series of Shares, in addition to those listed on the attached Schedule A, with respect to which it desires to have DST AMS render services as agent under the terms hereof, it shall so notify DST AMS in writing and if DST AMS agrees in writing to provide such services such series of shares shall become a Portfolio hereunder by the parties amending the Schedule A to include the additional series.
Terms of Appointment and Duties of the Bank ------------------------------------------------------
1.01 Subject to the terms and conditions set forth in this Agreement, the Trust hereby employs and appoints the Bank to act as, and the Bank agrees to act as, (i) transfer agent for each of the Fund(s)' authorized and issued shares of beneficial interest ("Shares"), (ii) dividend disbursing agent and (iii) agent in connection with any accumulation, open-account or similar plans, including without limitation any periodic investment plan or periodic withdrawal program, provided to the shareholders of the Trust appearing on the record books of the Bank ("Shareholders") as set out in the currently effective Prospectus and Statement of Additional Information of the Trust, as each may be amended from time to time (the "Prospectus").
Terms of Appointment and Duties. 1.1 Subject to the terms and conditions set forth in this Agreement, the Trust hereby employs and appoints Boston Financial to act as, and Boston Financial agrees to act as, their authorized agent in performing certain services for the Trust, as described in Schedule 1.1 to this Agreement (the "Services").
1.2 Boston Financial shall perform the Services in accordance with its standard procedures, with such changes or deviations there from as may be agreed upon in writing by the parties from time to time (the "Procedures").
Terms of Appointment and Duties. 1.1 Subject to the terms and conditions set forth in this Agreement, the Trust hereby employs and appoints DST AMS to act as, and DST AMS agrees to act as, its authorized agent in performing certain services for the Fund, as described in Schedule 1.1 to this Agreement (the “Services”).
1.2 DST AMS shall perform the Services in accordance with its standard procedures, with such changes or deviations therefrom as may be agreed upon in writing by the parties from time to time (the “Procedures”).