WRAP Programs Clause Samples
WRAP Programs. If Dealer is the broker for one or more wrap fee programs where Dealer is paid a single, inclusive fee for brokerage and investment management service (each a “Program” and, collectively, the “Programs”) and if Dealer desires to have its clients in the Programs (each a “Program Client” and, collectively, “Program Clients”) acquire Shares at the net asset value thereof without any sales charge, then:
(a) Dealer may, subject to Distributor’s approval, maintain either (i) one omnibus account per Fund per Program for the Program Clients of such Program or (ii) one account per Fund per Program Client provided each such account is a Level 1 or Level 3 account on National Securities Clearing Corporation’s Fund/SERV and/or Networking systems.
(b) When an account has been established after approval by Distributor, Dealer may purchase and sell to the Program Clients covered by such account Shares of the Fund at net asset value (without any sales charges on purchases or EWCs on sales but including any applicable repurchase fees) upon the instructions of Dealer and all in accordance with the terms of this Section, the Prospectuses and the terms of Distributor’s Distribution Contract with the Fund, as amended from time to time and applicable law. Notwithstanding the foregoing, any waiver of EWCs on sales is conditioned upon the Dealer providing Distributor on each Business Day separately for each account all purchase, sale and exchange Orders for such day.
(c) Dealer hereby confirms that it maintains in its files proper Program Client authorization to exercise full and continuing authority with regard to the transactions contemplated hereby and with regard to withdrawing and transferring funds on behalf of each Program Client. Dealer has examined such documents and is satisfied that they are authentic and were properly authorized and duly executed and delivered to Dealer by the Program Clients or the designated agents thereof.
(d) Distributor’s ability to rely on Dealer’s authorization to act on behalf of each Program Client shall be continuing and unqualified and remain in full force and effect until Distributor receives written notice of revocation from Dealer and/or the respective Program Client. Such revocation, however, shall not affect any liability in any way resulting from transactions initiated prior to Distributor’s receipt of such notice.
WRAP Programs. Schedule 3.1.27 lists each wrap program, and the “sponsor” for each such program, in which Company participates as an adviser or sub adviser. Company has delivered or made available to Buyer all advisory contracts, program agreements, platform agreements, electronic trading agreements, acknowledgements or other agreements executed or delivered between Company and the sponsors (or the sponsors’ Affiliates) in connection with such wrap programs. To Company’s Knowledge, no “sponsor” of such a wrap program has indicated that it will not Consent (to the extent Consent is required) to the Transactions.
WRAP Programs. If Dealer is the broker for one or more wrap fee programs where Dealer is paid a single, inclusive fee for brokerage and investment management service (each a “Program” and, collectively, the “Programs”) and if Dealer desires to have its clients in the Programs (each a “Program Client” and, collectively, “Program Clients”) acquire Class A Shares at the net asset value thereof without any sales charge, then: Allianz Funds
(a) Dealer may, subject to Distributor’s approval, maintain either (i) one omnibus account per Fund per Program for the Program Clients of such Program or (ii) one account per Fund per Program Client provided each such account is a Level 1 or Level 3 account on National Securities Clearing Corporation’s Fund/SERV System. This Section applies only to Class A Shares of the Funds, but “Funds” shall include all presently existing Funds and those created after the date hereof which offer Class A Shares.
(b) When an account has been established after approval by Distributor, Dealer may purchase and sell to the Program Clients covered by such account Class A Shares of any Fund at net asset value (without any sales charges on purchases or contingent deferred sales charges on sales but including any applicable redemption fees) upon the instructions of Dealer and all in accordance with the terms of this Section, the Prospectuses and the terms of Distributor’s Distribution Contract with the Fund, as amended from time to time and applicable law. Notwithstanding the foregoing, the waiver of contingent deferred sales charges on sales is conditioned upon the Dealer providing Distributor on each business day separately for each account all purchase, sale and exchange orders for such day. Dealer shall not permit any affiliate to prepare, use or distribute brochures, written materials or advertising in any form that refers to sales of any Fund as “no-load,” except that in brochures relating to any Program it may refer to the Funds as available at net asset value and subject to a service fee if the brochure also clearly reflects that, although such Class A Shares are available at net asset value through such Program, the clients of such Program will be charged a fee in connection with such Program.
(c) Dealer hereby confirms that it maintains in its files proper Program Client authorization to exercise full and continuing authority with regard to the transactions contemplated hereby and with regard to withdrawing and transferring funds on behalf of each Prog...
WRAP Programs. If Dealer is the broker for one or more wrap fee programs where Dealer is paid a single, inclusive fee for brokerage and investment management service (each a “Program” and, collectively, the “Programs”) and if Dealer desires to have its clients in the Programs (each a “Program Client” and, collectively, “Program Clients”) acquire Class A Shares or Institutional Class Shares of the Funds at the net asset value thereof without any sales charge, then:
(a) Dealer may, subject to Distributor’s approval, maintain either (i) one omnibus account per Fund per Program for the Program Clients of such Program or (ii) one account per Fund per Program Client provided each such account is a Level 1 or Level 3 account on National Securities Clearing Corporation’s Fund/SERV System. This Section applies only to Class A Shares or Institutional Class Shares of the Funds, but “Funds” shall include all presently existing Funds and those created after the date hereof which offer Class A Shares or Institutional Class Shares.
WRAP Programs. (a) Dealer is the broker for one or more wrap fee programs where Dealer is paid a single, inclusive fee for brokerage and investment management service (each a "Program" and, collectively, the "Programs"). Dealer desires to have its clients in the Programs (each a "Program Client" and, collectively, "Program Clients") acquire Class A shares of the Funds (the "shares" or the "Class A shares") at the net asset value thereof without any sales charge.
WRAP Programs. If Dealer is the broker for one or more wrap fee programs where Dealer is paid a single, inclusive fee for brokerage and investment management service (each a “Program” and, collectively, the “Programs”) and if Dealer desires to have its clients in the Programs (each a “Program Client” and, collectively, “Program Clients”) acquire Class A Shares at the net asset value thereof without any sales charge, then:
(a) Dealer may, subject to Distributor’s approval, maintain either (i) one omnibus account per Fund per Program for the Program Clients of such Program or (ii) one account per Fund per Program
WRAP Programs. (a) Dealer may choose to sell any or all of the A Shares ("Wrap-funds") listed on the attached Schedule A through a discretionary or nondiscretionary wrap program for which Dealer is the sponsor ("Program"); (b) the Wrap-funds shall be made available to clients of Dealer at net asset value without the imposition of initial or contingent deferred sales charges, miscellaneous fees or charges, or exchange fees, if any; (c) the sale of Wrap-funds shall be made pursuant to the terms and conditions of this Agreement as well as the terms and conditions of any agreement(s) between Dealer and Distributor and/or Distributor's transfer agent to facilitate the transmission of information regarding accounts through the NSCC-FundSERV networking system; (d) Distributor shall waive minimums for Wrap-funds in a discretionary wrap Program but shall NOT waive minimums for Wrap-funds in a nondiscretionary wrap Program; and, (e) Dealer shall provide in writing to Distributor information on the Program, including the Wrap-funds that are included, whether the account is held omnibus, and other information as Distributor may reasonably request.