SEI Investments Company 10-Q 2008
Documents found in this filing:
AMENDMENT NO. 12
CAPITAL SUPPORT AGREEMENT
THIS AMENDMENT NO. 12 (the Amendment) to the Capital Support Agreement, effective as of the 7th day of November 2008 (the Amendment Effective Date), between SEI Liquid Asset Trust (the Trust) on behalf of its Prime Obligation Fund (the Fund) and SEI Investments Company (the Support Provider).
NOW THEREFORE, in consideration of the premises, covenants, representations and warranties contained herein and intending to be legally bound hereby, the parties hereto agree as follows:
Letter of Credit means one or more letters of credit issued by the Letter of Credit Provider for the benefit of the Fund in an aggregate amount equal to twenty-five million dollars ($25,000,000), and which shall terminate no sooner than the date set forth in Section 3(c)(iv) of this Agreement.
Maximum Contribution Amount means twenty-five million dollars ($25,000,000).
Segregated Account means an account established by the Support Provider for the benefit of the Fund at a bank which is a qualified custodian under the 1940 Act, which may be an interest-bearing account and/or which accounts assets may be invested into money market instruments, and which during the term of the Agreement (i) shall hold cash or cash equivalent securities in an amount equal to the difference, if any, between the amount of the Letter of Credit and the Maximum Contribution Amount, and (ii) the assets of which shall be available to the Fund by means of ACH transfer initiated by the Fund without the requirement of further action or consent by the Support Provider; provided, however, that the amount required to be maintained in the Segregated Account may be reduced as set forth in Section 3 of the Agreement.
IN WITNESS WHEREOF, the parties caused this Amendment No. 12 to the Capital Support Agreement to be executed and to become effective as of the date first written above.