FDL definition
Examples of FDL in a sentence
Bank agrees to waive payment of any amounts payable to Bank by FDL under a Fund’s Plan until such time as FDL is in receipt of such fee from the Fund.
FDL shall have no responsibility, under the laws regulating the sale of securities in any U.S. or foreign jurisdiction, for the registration, qualification or licensed status of Bank or any of its agents or sub agents in connection with the purchase or sale of Fund shares or for the manner of offering, sale or purchase of Fund shares.
To the extent Bank provides administrative and other services, including, but not limited to, furnishing personal and other services and assistance to Customers who own shares of a Plan Class, answering routine inquiries regarding a Fund or Class, assisting in changing account designations and addresses, maintaining such accounts or such other services as a Fund may require, to the extent permitted by applicable statutes, rules, or regulations, FDL shall pay Bank a Rule 12b-1 servicing fee.
FDL shall have no liability for any check or other item returned unpaid to Bank after Bank has paid FDL on behalf of a purchaser.
Twice monthly, FDL will pay Bank Fees not previously paid to or withheld by Bank.
This Agreement sets forth the terms and conditions under which FDL will execute purchases and redemptions of shares of the Franklin or ▇▇▇▇▇▇▇▇▇ investment companies or series of such investment companies for which FDL now or in the future serves as principal underwriter (each, a “Fund”), at the request of Bank upon the order and for the account of Bank’s customers (“Customers”).
Bank may not assign this Agreement without the advance written consent of FDL.
All orders are subject to acceptance or rejection by FDL and by the Fund or its transfer agent at their sole discretion, and become effective only upon confirmation by one of them.
A Plan or the provisions of this Agreement may also be terminated by any act that terminates the underwriting agreement between FDL and the Fund that has such Plan, and/or the management or administration agreement between Franklin Advisers, Inc.
In the event of any inconsistency, the provisions of the Plans between the Plan Funds and FDL shall control over the provisions of this Agreement.