Exhibit (g)2)
AMENDMENT TO CUSTODIAN SERVICES AGREEMENT
This Amendment is an amendment to the Custodian Services Agreement between PFPC
Trust Company ("PFPC Trust") and Allegiant Advantage Fund, dated as of October
19, 2004 (the "Agreement"). The date of this Amendment is as of June 2, 2009.
WHEREAS, PFPC Trust and Allegiant Advantage Fund are parties to the Agreement;
and
WHEREAS, PFPC Trust and Allegiant Advantage Fund wish to amend the Agreement as
set forth below;
NOW, THEREFORE, in consideration of the premises and the agreements set forth in
this Amendment and other good and valuable consideration (receipt of which is
hereby acknowledged by the parties hereto), and intending to be legally bound
hereby, the parties hereto agree as follows:
1. Section 15 of the Agreement shall be amended and restated as follows:
15. DURATION AND TERMINATION.
This Agreement shall be effective on the date first above
written and shall continue until August 31, 2009 (the "Initial
Term"). Thereafter, this Agreement shall continue
automatically for successive terms of one (1) month (i.e.,
each successive term shall end on the last business day (i.e.,
a day on which PFPC Trust is open for regular business) of
such month, starting with September 30, 2009) (each, a
"Renewal Term"), provided that this Agreement shall terminate
at the end of such Renewal Term if a party to this Agreement
provides the other party to this Agreement at least fifteen
(15) days written notice that the Agreement is to terminate at
the end of such Renewal Term, and provided further that this
Agreement may be terminated at any time pursuant to written
agreement of both parties to this Agreement.
Termination of this Agreement shall not constitute a waiver of
any rights or remedies of a party to this Agreement with
respect to obligations of the other party to this Agreement
prior to such termination or rights of PFPC Trust to be
reimbursed for out-of-pocket expenses. In all cases,
termination by a party to this Agreement shall not constitute
a waiver by such party of any rights it might have under this
Agreement or otherwise against the other party to this
Agreement.
In the event this Agreement is terminated (pending appointment
of a successor to PFPC Trust or vote of the shareholders of
the Fund to dissolve or to function without a custodian of its
cash, securities or other property), PFPC Trust shall not
deliver cash, securities or other property of the Portfolios
to the Fund. If, upon the effective date of the termination of
this Agreement, the Fund has not appointed a successor
custodian, PFPC Trust may deliver the Fund's cash, securities
and other property to a bank or trust company of PFPC Trust's
choice, having aggregate capital, surplus and undivided
profits, as shown by its last published report, of not less
than twenty million dollars ($20,000,000), as a custodian for
the Fund to be held under terms similar to those of this
Agreement. PFPC Trust shall not be required to make any
delivery or payment of assets upon termination until full
payment shall have been made to PFPC Trust of all of its fees,
compensation, costs and expenses (including without limitation
fees and expenses associated with deconversion or conversion
to another service provider and other trailing expenses
incurred by PFPC Trust). PFPC Trust shall have a first
priority contractual possessory security interest in and shall
have a right of setoff against the Property as security for
the payment of its fees, compensation, costs and expenses.
For clarification, if this Agreement is terminated with
respect to less than all of the Portfolios, this Agreement
will remain in full force and effect with respect to all of
the remaining Portfolios.
2. Except as specifically amended in this Amendment, the Agreement will
continue in full force and effect and be binding upon the parties
hereto, and it is hereby ratified and confirmed as amended hereby. This
Amendment may be executed in counterparts, each of which when executed
and delivered will be an original, but all of which together constitute
one and the same agreement. A facsimile signature will be binding upon
the party so executing the Amendment.
AGREED:
PFPC Trust Company Allegiant Advantage Fund
By: /s/ Xxxxxx X. Xxxxx, III By: /s/ Xxxx Xxxxxx
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Title: Vice President & Senior Director Title: Treasurer
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