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 Funds, dated as of February 21, 2006
(the "Agreement"). The date of this Amendment is as of June 2, 2009.
WHEREAS, PFPC Trust and Allegiant Funds are parties to the Agreement; and
WHEREAS, PFPC Trust and Allegiant Funds 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. The reference in the last sentence of Section 13(a) of the Agreement to
"this Section 13(b)" shall be changed to refer to "this Section 13(a)."
2. Section 16 of the Agreement shall be amended and restated as follows:
16. 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 a 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.
3. 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 Funds
By: /s/ Xxxxxx X. Xxxxx, III By: /s/ Xxxx Xxxxxx
------------------------ ----------------
Title: Vice President & Senior Director Title: Treasurer
-------------------------------- ---------
