Common use of Program Management Services Clause in Contracts

Program Management Services. Commencing on the Effective Date and continuing until the date upon which this Agreement is terminated as provided in Section 14, the Manager shall serve as “Program Manager” to the Company. As Program Manager, the Manager shall perform the services listed in this section and as described in the Investment Guidelines and the Operating Guidelines (such services, the “Program Management Services”). The Manager shall perform Program Management Services in accordance with the terms and conditions of this Agreement, including the Investment Guidelines and the Operating Guidelines to the extent program management services are referenced therein, and Instructions given as described in Section 15.2. 2.2.1 The Manager shall be responsible for establishing the investment, operational, and technology infrastructure necessary to facilitate the Asset Management Services as described in Section 2.1, including overseeing any Affiliates and third-party agents in the performance of any duties related to such infrastructure as the Manager delegates to Affiliates or third- party agents in accordance with Section 4. 2.2.2 The Manager shall be responsible for advising the Company with respect to developing and implementing strategies for the Facility, which will be agreed and documented. This advice will include support of Facility-level strategy, portfolio construction, market surveillance and assessment, and the creation of customized risk analyses as relevant to guide the Asset Management Services as described in Section 2.1. 2.2.3 The Manager shall be responsible for trade, position, portfolio, and related reporting to the FRBNY, as defined in the Operating Guidelines, and for establishing and maintaining processes and technology needed for the transmission of such reporting. 2.2.4 The Manager shall provide project management services to the FRBNY, including tracking of project progress, coordination of activities performed by supporting Manager teams, and acting as a central point of contact for the FRBNY and relevant third parties. 2.2.5 In the event of an Eligible Bond, as defined in the Investment Guidelines, entering into default between the Effective Date and the date upon which this Agreement is terminated as provided in Section 14, the Manager will support the Company in designing and executing workout and loss mitigation strategies and, in connection therewith, the Manager will, at the Company’s request, identify third-party agents expert in executing workout and loss mitigation strategies, engage or assist the Company to engage such agents to provide such services to the Company, and supervise and oversee the activities of any such agents in their performance of services for the Company.

Program Management Services. Commencing on the Effective Date and continuing until the date upon which this Agreement is terminated as provided in Section 14, the Manager shall serve as “Program Manager” to the Company. As Program Manager, the Manager shall perform the services listed in this section and as described in the Investment Guidelines and the Operating Guidelines (such services, the “Program Management Services”). The Manager shall perform Program Management Services in accordance with the terms and conditions of this Agreement, including the Investment Guidelines and the Operating Guidelines to the extent program management services are referenced therein, and Instructions given as described in Section 15.2. 2.2.1 The Manager shall be responsible for establishing the investment, operational, and technology infrastructure necessary to facilitate the Asset Management Services as described in Section 2.1, including overseeing any Affiliates and third-party agents in the performance of any duties related to such infrastructure as the Manager delegates to Affiliates or third- party agents in accordance with Section 4. 2.2.2 The Manager shall be responsible for advising the Company with respect to developing and implementing execution strategies for the Facility, which will be agreed and documented. This advice will include support of Facility-level strategy, portfolio constructiontransaction structure and pricing, market surveillance and assessment, and the creation of customized risk analyses as relevant to guide the Asset Management Services as described in Section 2.1. 2.2.3 The Manager shall be responsible for trade, positiontransaction, portfolio, and related reporting to the FRBNY, as defined in the Operating Guidelines, and for establishing and maintaining processes and technology needed for the transmission of such reporting. 2.2.4 The Manager shall provide project management services to the FRBNY, including tracking of project progress, coordination of activities performed by supporting Manager teams, and acting as a central point of contact for the FRBNY and relevant third parties. 2.2.5 In the event of an Eligible BondDebt, as defined in the Investment Guidelines, entering into default between the Effective Date and the date upon which this Agreement is terminated as provided in Section 14, the Manager will support the Company in designing and executing workout and loss mitigation strategies and, in connection therewith, the Manager will, at the Company’s request, identify third-party agents expert in executing workout and loss mitigation strategies, engage or assist the Company to engage such agents to provide such services to the Company, and supervise and oversee the activities of any such agents in their performance of services for the Company.