TRUST 3000 System definition
Examples of TRUST 3000 System in a sentence
Customer will be obligated to reimburse SEI for any such charges incurred by SEI on Customer’s behalf for a period of ninety days following the later of (i) expiration or any termination of this Agreement or (ii) Customer’s cessation of any use of the TRUST 3000 System for processing and or retrieval purposes.
The TRUST 3000 System hereunder shall only be used by Customer to process its own data, and, except as provided in Section 4.01 hereof, shall not be used for or on behalf of others.
SEI has disclosed in these Exhibits A, B and G all fees for all current services requested by Customer in conjunction with the TRUST 3000 System and the Licensed Products.
Customer agrees to pay all state and local sales, use, property or other taxes, with respect to this Agreement, the TRUST 3000 System or any equipment, product or services provided hereunder which may be assessed against SEI or Customer; provided, however, Customer shall not be liable for taxes on SEI’s property or net income, gross receipts or corporate franchise.
Customer acknowledges and agrees that the services to be provided through hereunder are dependent on the TRUST 3000 System, the Clearing Network, and other third party systems utilized by SEI and its Affiliates all being fully operational, and that any and all such services may not be available at all times, including during regularly scheduled maintenance periods.
The monthly installments will commence on the effective date of termination, and continue for each month Customer uses the TRUST 3000 System for retrieval purposes.
Customer and SEI shall conduct tests to determine whether their respective telecommunication systems will support the TRUST 3000 System.
As used herein, TRUST 3000 Service shall mean the products and services offered by SEI and purchased by Customer hereunder, for managing and processing trust accounts of financial institutions, as specified in Exhibit A attached hereto and as described in the User Manuals for the functions specified on such Exhibit, some of which products and services are currently provided through the operation of SEI’s TRUST 3000 System.
Customer shall not create or attempt to create, nor permit others to create or attempt to create, the TRUST 3000 System or any part thereof.
Each installment shall equal the Buyout Amount divided by the number of months which Customer desires to continue to use the TRUST 3000 System for retrieval.