Common use of Paying Agent Services Clause in Contracts

Paying Agent Services. The Trust and Adviser desire that Platform Services shall serve as the exclusive paying agent of the Funds, and hereby appoint Platform Services and Platform Services agrees to: (1) undertake the obligation to pay all operational expenses of the Trust and on behalf of its Funds, including but not limited to making payments to each of the Adviser, Index Provider or Fund Sponsor, Administrator, Custodian and Transfer Agent, Trust counsel, the Board of Trustees and the Board’s independent counsel, and other agents or vendors employed by the Trust to perform various services for and on its behalf (except for interest, taxes, brokerage commissions and other expenses incurred in placing or settlement of orders for the purchase and sale of securities and other investment instruments of the Funds, acquired fund fees and expenses, accrued deferred tax liability, extraordinary expenses, and distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act.