Common use of Trust Responsibilities Clause in Contracts

Trust Responsibilities. 3.1. The management and control of the Trust are vested exclusively in the Trusts’ governing body (e.g., the board of trustees) and officers, subject to the terms and provisions of the Trusts’ Governing Documents. The Trusts’ governing body will make all decisions, perform all management functions relating to the operation of the Trusts and the Trusts’ governing body or its duly appointed officers shall authorize all Transactions. Without limiting the foregoing, each Trust shall: (a) Designate properly qualified individuals to oversee the Services and establish and maintain internal controls, including monitoring the ongoing activities of the Trust. (b) Evaluate the accuracy, and accept responsibility for the results, of the Services, review and approve all reports, analyses and records resulting from the Services and inform DST of any errors that it is in a position to identify. (c) Provide DST with timely and accurate information required by DST in order to perform the Services and its duties and obligations hereunder. 3.2. Each Trust is solely and exclusively responsible for ensuring that it complies with Law and its respective Governing Documents. It is each Trust’s responsibility to provide all final Trust Governing Documents as of the Effective Date. A Trust will notify DST in writing of any changes to the Trust Governing Documents that may materially impact the Services prior to such changes taking effect. DST is not responsible for monitoring compliance by a Trust with (i) Law, or (ii) its respective Governing Documents. 3.3. In the event that Market Data is supplied to or through DST Associates in connection with the Services, the Market Data is proprietary to Data Suppliers and is provided on a limited internal-use license basis. Market Data may: (i) only be used by a Trust in connection with the Services and (ii) not be disseminated by a Trust or used to populate internal systems in lieu of obtaining a data license. The foregoing notwithstanding, a Trust can provide such Market Data solely to service the Trust. Access to and delivery of Market Data is dependent on the Data Suppliers and may be interrupted or discontinued with or without notice. Except as specifically provided herein, neither DST nor any Data Supplier shall be liable to a Trust or any other Person for any Losses with respect to Market Data, reliance by DST Associates or the Trust on Market Data or the provision of Market Data in connection with this Agreement. 3.4. Each Trust shall deliver, and procure that its agents, counsel, advisors, auditors, and any other Persons promptly deliver to DST all Trust Data. Each Trust shall arrange with each such Person to deliver such information and materials on a timely basis, and DST will not be required to enter any agreements with that Person in order for DST to provide the Services. 3.5. Notwithstanding anything in this Agreement to the contrary, so long as they act in good faith and a commercially reasonable manner, DST Associates shall be entitled to rely on the authenticity, completeness and accuracy of any and all information and communications of whatever nature received by DST Associates from a Trust, its employees, Affiliates or agents in connection with the performance of the Services and DST’s duties and obligations hereunder, without further enquiry or liability.