CFBDS definition
Examples of CFBDS in a sentence
CFBDS shall perform its obligations under this Agreement in a conscientious and diligent manner consistent with prevailing industry standards.
In performing its services under this Agreement, Citibank shall (a) act in conformity with the Trust's charter documents, bylaws, prospectus, state of additional information, the 1940 Act and other applicable laws, as the same may be amended from time to time, and (b) cooperate and coordinate with CFBDS as necessary and appropriate.
In consideration for the services to be rendered by Citibank under this Agreement, CFBDS hereby assigns to Citibank for the term of this Agreement all revenues payable to CFBDS pursuant to its Distribution Agreements with the Trusts (as relate to the Funds) and/or any related Distribution Plans or Service Plans of the Trusts (as relate to the Funds) (the "Distribution Revenues").
In performing its services under this Agreement, CFBDS shall cooperate and coordinate with Citibank as necessary and appropriate and shall provide such information as is reasonably necessary or appropriate for Citibank to perform its obligations to the Trust.
CFBDS shall, during the term of this Agreement, maintain directors/officers errors and omissions insurance coverage in the amount of $5 million.
CFBDS desires to retain Citibank to perform certain services on the terms and conditions hereinafter set forth, and Citibank is willing to render such services.
This Agreement may be terminated by CFBDS, in its entirety or as to one or more Funds, with or without cause, provided that CFBDS has notified Citibank of such termination in writing at least 90 days prior to the effective date thereof.
During the term of this Agreement, CFBDS shall not conduct any business activities other than as contemplated by (i) this Agreement; (ii) any Distribution Agreement between CFBDS and a Trust; (iii) any distribution contract between CFBDS and any other investment company advised or administered by a subsidiary of Citigroup Inc.; or (iv) any agreement between CFBDS and a subsidiary of Citigroup Inc.
CFBDS shall have no obligation to provide any accounting or other computation of the Distribution Revenues to Citibank or to otherwise assist in the collection of the Distribution Revenues, provided that CFBDS agrees to execute any instruments or take any other actions reasonably necessary to effect or perfect the assignment of the Distribution Revenues to Citibank, and the further assignment by Citibank, at its discretion, of any part of the Distribution Revenues to any other entity.
For the services to be rendered and the facilities to be provided by CFBDS hereunder, CFBDS shall be paid an administrative fee as may from time to time be agreed to between Citibank and CFBDS.