FII » Topics » 7.10 Cooperation With Respect to Erroneously Received Revenues.

This excerpt taken from the FII 10-Q filed May 4, 2006.

7.10 Cooperation With Respect to Erroneously Received Revenues.

In the event that Buyer receives any revenues (including, but not limited to, any fee payments received from a customer, fund revenue payments received from a registered investment company or refunds of fund revenue payments made to a customer) relating to an Acquired Asset with respect to a period prior to, as applicable, the initial Closing Date or a subsequent Closing Date on which such Acquired Asset was assigned or transferred to Buyer, Buyer shall remit such revenues to Seller within a reasonable period of time after receipt by Buyer. In the event that Seller receives any revenues (including, but not limited to, any fee payments received from a customer, fund revenue payments received from a registered investment company or refunds of fund revenue payments made to a customer) relating to an Acquired Asset with respect to a period subsequent to, as applicable, the initial Closing Date or a subsequent Closing Date on which such Acquired Asset was assigned or transferred to Buyer, Seller shall remit such revenues to Buyer within a reasonable period of time after receipt by Seller. Buyer and Seller shall cooperate in good faith with respect to any and all such matters.

 

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