Set-Up / File Maintenance Sample Clauses
Set-Up / File Maintenance. (i) Custodian shall accept from the Fund or its designee, the relevant information pertaining to the Loans, and thereafter maintain paper or electronic copies of same in Custodian’s system, including as available or appropriate, copies of all new assignment and acceptance agreements, participation agreements, funding memoranda, current loan or credit agreements. Copies of such information shall be retained by Custodian for the period(s) required by the Investment Company Act of 1940, as amended, and the rules thereunder.
(ii) Enter into the Custodian’s loan tracking system, and maintain a loan database containing information provided to the Custodian from time to time by the Fund or agent banks for the Loans with respect to (i) the obligor name for each Loan, (ii) the principal and interest payments made or to be made on the Loans, (iii) the applicable interest rate, interest rate resets and interest accrual periods of each Loan, (iv) the principal balance of each Loan and (v) the funded and commitment balances of, and commitment fees for, each Loan (“Loan Information”).
(iii) Notwithstanding the foregoing, Custodian as servicer for the Loans, shall not be obligated to accept nor be responsible for holding or safekeeping originals of any securities, promissory notes, certificates of equity or debt ownership or obligations, deeds, mortgages, bonds, security agreements, any other type of negotiable instrument, or any other document related to the Loans.
(iv) Additionally, the parties agree that, whereas it is necessary hereunder for Custodian to expeditiously obtain and process information, including notices, derived from third-parties, including agents for the Loans, (particularly in connection with providing any reports to the Fund), Custodian shall be entitled to rely upon such third-party information and shall not be required to verify or authenticate in any manner such information. Custodian will be deemed to have acted reasonably in accepting, using and transmitting such information, as contemplated herein.
Set-Up / File Maintenance. (i) BNY shall accept from each Fund or its designee, the relevant information pertaining to the Loans, and thereafter maintain paper or electronic copies of same in BNY’s system, including as available or appropriate, copies of all new assignment and acceptance agreements, funding memoranda, current loan or credit agreements.
(ii) BNY shall record daily interest accruals for each Loan held in any Fund.
(iii) BNY shall record and process validated interest, principal and fee payments to such Fund’s designated account.
(iv) BNY shall record and process rollovers, re-pricings, conversions and margin changes for Loans held in any Fund.
Set-Up / File Maintenance. (i) Service Provider shall accept from each Fund or its designee the relevant information pertaining to the Loans and thereafter maintain paper or electronic copies of same in Service Provider’s system, including as available or appropriate, copies of all new assignment and acceptance agreements, funding memoranda, and current loan or credit agreements.
(ii) Service Provider shall record daily interest accruals for each Loan held in any Fund.
(iii) Service Provider shall record and process validated interest, principal and fee payments to such Fund’s designated account.
(iv) Service Provider shall record and process rollovers, re-pricings, conversions and margin changes for Loans held in any Fund.
Set-Up / File Maintenance. (i) BNYM shall accept from each Fund or its designee, the relevant information pertaining to the Loans, and thereafter maintain paper or electronic copies of same in BNYM’s loan servicing system, including as available or appropriate, copies of all new assignment and acceptance agreements, funding memoranda, current loan or credit agreements.
(ii) BNYM shall record daily interest accruals for each Loan held in any Fund.
(iii) BNYM shall record validated interest, principal and fee payments to such Fund’s designated custody account.
(iv) BNYM shall record rollovers, re-pricings, conversions and margin changes for Loans held in any Fund.
(vi) Notwithstanding the foregoing, BNYM shall not be obligated to accept nor be responsible for holding or safekeeping originals of any securities, promissory notes, certificates of equity or debt ownership or obligations, deeds, mortgages, bonds, security agreements, any other type of negotiable instrument, or any other document related to the Loans.