Common use of Administrator Services Clause in Contracts

Administrator Services. If Client is an institutional fund, REIT or private investment fund (collectively, the “Pool”)”, the Investment Management Company may choose in its sole discretion to serve as the Client’s Administrator (the "Administrator"). The Administrator will be responsible for, among other things: (a) maintaining the register of the Pool and generally performing all actions related to the transfer and withdrawals of the Client’s member or partners; (b) reviewing and, subject to approval by the Client, accepting or rejecting subscriptions and accepting payment therefore; (c) computing and disseminating the net asset value of the Pool and the value of each member or partner’s capital account in accordance with the Client's operating or limited partnership agreement; (d) keeping the accounts of the Pool and such financial books and records as are required by law or otherwise for the proper conduct of the financial affairs of the Client, and assisting with or procuring the preparation of annual financial statements of the Client and furnishing such statements, as well as monthly, quarterly or annual net asset value reports, to members or partners; (e) communicating with the Pool’s general partners or managing members; and (f) performing all other accounting and clerical services necessary in connection with the administration of the Pool. The Administrator and its directors, officers, employees, agents, servants, delegates and affiliates assume no liability for errors in administrative services and have broad indemnification except for those actions, liabilities and expenses resulting from gross negligence, willful default or fraud on the part of the Administrator or its directors, officers, employees, agents, servants, delegates or affiliates.