Common use of Terms of Appointment and Duties Clause in Contracts

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.