Common use of Redemption Services Clause in Contracts

Redemption Services. Upon receipt of notice and/or instructions and necessary funds from a Customer, effect redemptions of preferred Shares · Review data for accuracy and completeness · Mail cure letter to Shareholders with incomplete information · Code accounts for ACH and perform pre-note test · Identify rejected ACH transmissions, mail dividend check and explanation letter to Shareholders with rejected transmissions · Respond to Shareholder inquiries concerning the ACH Program · Calculate on a quarterly basis the Share breakdown for ACH vs. other dividend payments and notify Customer of funding amount for ACH transmissions and other payable date funds · Credit ACH designated bank accounts automatically on dividend payable date · Maintain ACH participant file, including coding new ACH accounts · Process termination requests · Keep adequate records including retention of ACH documents”

Redemption Services. Upon receipt of notice and/or instructions and necessary funds from a Customer, effect redemptions of preferred Shares · • Review data for accuracy and completeness · • Mail cure letter to Shareholders with incomplete information · • Code accounts for ACH and perform pre-note test · • Identify rejected ACH transmissions, mail dividend check and explanation letter to Shareholders with rejected transmissions · • Respond to Shareholder inquiries concerning the ACH Program · • Calculate on a quarterly basis the Share breakdown for ACH vs. other dividend payments and notify Customer of funding amount for ACH transmissions and other payable date funds · • Credit ACH designated bank accounts automatically on dividend payable date · • Maintain ACH participant file, including coding new ACH accounts · • Process termination requests · • Keep adequate records including retention of ACH documents”