Common use of Dividend Disbursing Clause in Contracts

Dividend Disbursing. MSIM or a third party appointed by MSIM shall act as Dividend Disbursing Agent for each of the MSIM Portfolios, and, as such, shall prepare and mail checks or credit income and capital gain payments to shareholders. The Fund shall advise MSIM or a third party appointed by MSIM of the declaration of any dividend or distribution and the record and payable date thereof at least five (5) days prior to the record date. MSIM or a third party appointed by MSIM shall, on or before the payment date of any such dividend or distribution, notify the Fund’s custodians of the estimated amount required to pay any portion of said dividend or distribution which is payable in cash, and on or before the payment date of such distribution, the Fund shall instruct its custodians to make available to MSIM or a third party appointed by MSIM sufficient funds for the cash amount to be paid out. If an MSIM Portfolio shareholder is entitled to receive additional shares by virtue of any such distribution or dividend, appropriate credits will be made to his account and/or certificates delivered where requested. An MSIM Portfolio shareholder not electing issuance of certificates will receive a confirmation from MSIM or a third party appointed by MSIM indicating the number of shares credited to his account as a result of the reinvested dividend or distribution.

Appears in 2 contracts

Samples: Administration Agreement (Morgan Stanley Variable Insurance Fund Inc.), Administration Agreement (Universal Institutional Funds Inc)

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Dividend Disbursing. MSIM MSAM or a third party appointed by MSIM MSAM shall act as Dividend Disbursing Agent for each of the MSIM MSAM Portfolios, and, as such, shall prepare and mail checks or credit income and capital gain payments to shareholders. The Fund shall advise MSIM MSAM or a third party appointed by MSIM MSAM of the declaration of any dividend or distribution and the record and payable date thereof at least five (5) days prior to the record date. MSIM MSAM or a third party appointed by MSIM MSAM shall, on or before the payment date of any such dividend or distribution, notify the Fund’s custodians of the estimated amount required to pay any portion of said dividend or distribution which is payable in cash, and on or before the payment date of such distribution, the Fund shall instruct its custodians to make available to MSIM MSAM or a third party appointed by MSIM MSAM sufficient funds for the cash amount to be paid out. If an MSIM MSAM Portfolio shareholder is entitled to receive additional shares by virtue of any such distribution or dividend, appropriate credits will be made to his account and/or certificates delivered where requested. An MSIM MSAM Portfolio shareholder not electing issuance of certificates will receive a confirmation from MSIM MSAM or a third party appointed by MSIM MSAM indicating the number of shares credited to his account as a result of the reinvested dividend or distribution.

Appears in 2 contracts

Samples: Administration Agreement (Universal Institutional Funds Inc), Administration Agreement (Universal Institutional Funds Inc)

Dividend Disbursing. MSIM or a third party appointed by MSIM shall act as Dividend Disbursing Agent for the Fund and each of the MSIM its Portfolios, and, as such, such shall prepare and mail checks or credit income and capital gain payments to shareholders. The Fund shall advise MSIM or a third party appointed by MSIM of the declaration of any dividend or distribution and the record and payable date thereof at least five (5) days prior to the record date. MSIM or a third party appointed by MSIM shall, on or before the payment date of any such dividend or distribution, notify the Fund’s custodians 's Custodian of the estimated amount required to pay any portion of said dividend or distribution which is payable in cash, and on or before the payment date of such distribution, the Fund shall instruct its custodians Custodian to make available to MSIM or a third party appointed by MSIM sufficient funds for the cash amount to be paid out. If an MSIM Portfolio a shareholder is entitled to receive additional shares by virtue of any such distribution or dividend, appropriate credits will be made to his account and/or certificates delivered where requested. An MSIM Portfolio A shareholder not electing issuance of certificates will receive a confirmation from MSIM or a third party appointed by MSIM indicating the number of shares credited to his account as a result of the reinvested dividend or distribution.

Appears in 2 contracts

Samples: Msim Administration Agreement (Morgan Stanley Institutional Liquidity Funds), Msim Administration Agreement (Morgan Stanley Institutional Liquidity Funds)

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Dividend Disbursing. MSIM MSAM or a third party appointed by MSIM MSAM ------------------- shall act as Dividend Disbursing Agent for each of the MSIM MSAM Portfolios, and, as such, shall prepare and mail checks or credit income and capital gain payments to shareholders. The Fund shall advise MSIM MSAM or a third party appointed by MSIM MSAM of the declaration of any dividend or distribution and the record and payable date thereof at least five (5) days prior to the record date. MSIM MSAM or a third party appointed by MSIM MSAM shall, on or before the payment date of any such dividend or distribution, notify the Fund’s 's custodians of the estimated amount required to pay any portion of said dividend or distribution which is payable in cash, and on or before the payment date of such distribution, the Fund shall instruct its custodians to make available to MSIM MSAM or a third party appointed by MSIM MSAM sufficient funds for the cash amount to be paid out. If an MSIM MSAM Portfolio shareholder is entitled to receive additional shares by virtue of any such distribution or dividend, appropriate credits will be made to his account and/or certificates delivered where requested. An MSIM MSAM Portfolio shareholder not electing issuance of certificates will receive a confirmation from MSIM MSAM or a third party appointed by MSIM MSAM indicating the number of shares credited to his account as a result of the reinvested dividend or distribution.

Appears in 1 contract

Samples: Administration Agreement (Morgan Stanley Universal Funds Inc)

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