Common use of Returned Checks Clause in Contracts

Returned Checks. In the event that any check or other order for the transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company from financial loss or as the Company or its designee may instruct. Provided that the standard procedures, as agreed upon from time to time, between the Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 9 contracts

Samples: Transfer Agency and Service Agreement (Tt International Usa Feeder Trust), Transfer Agency and Service Agreement (Glenmede Portfolios), Transfer Agency and Service Agreement (Glenmede Fund Inc)

Returned Checks. In the event that If any check or other order for the transfer of money is returned unpaid for any reason, the Bank Transfer Agent will take such any steps as the Bank it may, in its discretion, deem appropriate to protect the Company Trust from financial loss or as the Company Trust or its designee may instruct , and notify the Fund of the steps taken. Provided that If the Transfer Agent adheres to standard procedures, as agreed the Trust and Transfer Agent agree upon from time to time, between the Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank shares, the Bank Transfer Agent shall not be liable for any loss suffered by a the Fund suffers as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions transaction shall be an expense of that Fund . A Fund may, at its option, purchase insurance to reduce its potential losses from collection activities.

Appears in 4 contracts

Samples: Agency Agreement (Us Global Investors Funds), Agency Agreement (Us Global Investors Funds), Agreement and Declaration of Trust (U S Global Accolade Funds)

Returned Checks. In the event that any check or other order for the transfer of money in payment for Fund Shares is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company Trusts from financial loss or as the Company or its designee Trusts may instruct. Provided that the standard procedures, as agreed upon from time to time, between the Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the The Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 4 contracts

Samples: Transfer Agency and Service Agreement (Massmutual Premier Funds), Transfer Agency and Service Agreement (Massmutual Select Funds), Transfer Agency and Service Agreement (Massmutual Select Funds)

Returned Checks. In the event that any check or other order for the transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company Trust from financial loss or as the Company Trust or its designee may instruct. Provided that the standard procedures, as agreed upon from time to time, between the Company Trust and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 4 contracts

Samples: Transfer Agency and Service Agreement (Massmutual Premier Funds), Transfer Agency and Service Agreement (Massmutual Premier Funds), Transfer Agency and Service Agreement (DLB Fund Group)

Returned Checks. In the event that any check or other order for --------------- the transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company from financial loss or as the Company or its designee may instruct. Provided that the standard procedures, as agreed upon from time to time, between the Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Hewitt Money Market Fund)

Returned Checks. In the event that any check or other order for the --------------- transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company from financial loss or as the Company or its designee may instruct. Provided that the standard procedures, as agreed upon from time to time, between the Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, and absent any negligence, bad faith or willful misconduct by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal Reasonable legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Fulcrum Trust)

Returned Checks. In the event that any check or other order for the --------------- transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company from financial loss or as the Company or its designee may instruct. Provided that the standard procedures, as agreed upon from time to time, between the Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Harding Loevner Funds Inc)

Returned Checks. In the event that any check or other order for the --------------- transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company from financial loss or as the Company or its designee may instruct. Provided that the standard procedures, as agreed upon in writing from time to time, between the Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Masterworks Funds Inc)

Returned Checks. In the event that any check or other order for the --------------- transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company Trust from financial loss or as the Company Trust or its designee may instruct. Provided that the standard procedures, as agreed upon from time to time, between the Company Trust and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Massmutual Institutional Funds)

Returned Checks. In the event that any check or other order for the transfer --------------- of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company from financial loss or as the Company or its designee may instruct. Provided that the standard procedures, as agreed upon in writing from time to time, between the Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Masterworks Funds Inc)

Returned Checks. In the event that any check or other order for the transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company from financial loss or as the Company or its designee may instruct. Provided that the standard procedures, as agreed upon from time to time, between the Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that paid by the Manager or, if not so paid promptly, then by the relevant Fund.

Appears in 1 contract

Samples: Service Agreement (GMO Series Trust)

Returned Checks. In the event that any check or other order for the transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company Fund from financial loss or as the Company Fund or its designee may instruct. Provided that the standard procedures, as agreed upon from time to time, between the Company Fund and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Lehman Brothers First Trust Income Opportunity Fund)

Returned Checks. In the event that any check or other order for the transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company Trust from financial loss or as the Company Trust or its designee may instruct. Provided that the standard procedures, as agreed upon in writing from time to time, between the Company Trust and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Barclays Foundry Investment Trust)

Returned Checks. In the event that any check or other order for the transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the applicable Company from financial loss or as the such Company or its designee may instruct. Provided that the standard procedures, as agreed upon in writing from time to time, between the applicable Company and the Bank, regarding purchases and redemptions of Shares, are adhered to by the Bank , and provided further that the Bank has not been negligent or acted with willful misfeasance or in bad faith, the Bank shall not be liable for any loss suffered by a Fund as a result of returned or unpaid purchase or redemption transactions. Legal or other expenses incurred to collect amounts owed to a Fund as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (Tiff Investment Program Inc)

Returned Checks. In the event that any check or other order for the transfer of money is returned unpaid for any reason, the Bank will take such steps as the Bank may, in its discretion, deem appropriate to protect the Company applicable Portfolio from financial loss or as the Company applicable Fund or its designee may instruct. Provided that the standard procedures, as agreed upon in writing from time to time, between the Company Funds and the Bank, regarding purchases and redemptions of Shares Interests, are adhered to by the Bank, the Bank shall not be liable for any loss suffered by a Fund in respect of any Portfolio as a result of returned or unpaid purchase or redemption transactions. Legal Reasonable legal or other expenses incurred to collect amounts owed to in respect of a Fund Portfolio as a consequence of returned or unpaid purchase or redemption transactions shall be an expense of that Fund attributable to the Portfolio.

Appears in 1 contract

Samples: Transfer Agency and Service Agreement (FFTW Funds Inc)