EX 10.23
ACCOLADE-USSI PRINTING AGREEMENT
This Agreement is made and entered into this 21st day of September, 1994,
by and between Accolade Funds, a Massachusetts business trust having its
principal place of business at 7900 Callaghan Road, San Antonio, Texas,
hereinafter called the "Fund" and United Shareholder Services, Inc., a
corporation organized under the laws of Texas having its principal place of
business at the same address as the fund, hereinafter called "USS."
SERVICES
The Fund hereby requests and USSI hereby agrees to provide printing
services to the Fund in accordance with applicable statutes and regulations
promulgated by regulatory authorities. Printing services involve daily, monthly,
quarterly and annual statements of a shareholders account activity plus tax
reporting when possible.
COMPENSATION
USSI, for performing printing services, shall be compensated at $.03 per
image. Such price is subject to modification, from time to time, upon agreement
of the parties.
EFFECTIVE DATE
This Agreement shall become effective with respect to a Fund as of the date
first written above (or, if a particular series or sub-trust of the Fund is not
in existence on that date, on the date an amendment to Exhibit A to this
Agreement relating to the Fund is executed).
TERMINATION
This Contract may be terminated by either party without penalty by giving
60 days written notice.
PERFORMANCE OF SERVICE
USSI shall exercise reasonable care in the performance of its duties under
this Agreement.
UNCONTROLLABLE EVENTS
USSI assumes no responsibility hereunder, and shall not be liable, for any
damage, loss of data, delay or any other loss whatsoever caused by events beyond
its reasonable control, including, without limitation, failure of hardware and
software provided by third persons. The foregoing does not relieve USSI from
acting in a commercially reasonable manner and using its best efforts to recover
from any such failure, delay or loss.
ASSIGNMENT
This Agreement and the rights and duties hereunder shall not be assignable
by either of the parties hereto except by the specific written consent of the
other party.
INTERPRETATION
This Agreement shall be interpreted under the laws of the State of Texas.
Words and phrases used herein shall be interpreted in accordance with applicable
law.
LIMITATION ON LIABILITY
The term "Accolade Funds" means and refers to the Trustees from time to
time serving under the Master Trust Agreement of the Fund dated April 15, 1993,
as the same may be subsequently thereto have been, or subsequently hereto be
amended. It is expressly agreed that the obligation of the Fund hereunder shall
not be binding upon any of the Trustees, shareholders, nominees, officers,
agents or employees of the Fund, personally, but bind only the assets and
property of the Fund, as provided in the Master Trust Agreement of the Fund. The
execution and delivery of this Agreement have been authorized by the Trustees of
the Fund and signed by an authorized officer of the Fund, acting as such, and
neither such authorization by such Trustees nor such execution and delivery by
such officer shall be deemed to have been made by any of them individually or to
impose any liability on any of them personally, but shall bind only the assets
and property of the Fund as provided in its Master Trust Agreement.
IN WITNESS WHEREOF, the parties have caused this Agreement to be signed by
their respective officials duly authorized, as of the day and year first above
written.
ACCOLADE FUNDS
/S/Thomas Tays /S/ Frank E. Holmes
Witness Frank E. Holmes
President
UNITED SHAREHOLDER SERVICES, INC.
/S/ Thomas Tays /S/ Bobby D.
Witness Bobby D. Duncan
President
EXHIBIT A
TO
PRINTING AGREEMENT
BETWEEN
UNITED SHAREHOLDER SERVICES, INC.
AND
ACCOLADE FUNDS
NAME OF FUND DATE SUBJECT TO AGREEMENT
Bonnel Growth Fund September 21, 1994
Dated: As of September 21, 1994
UNITED SHAREHOLDER SERVICES, INC.
BY: /S/ Bobby D. Duncan
Bobby D. Duncan, President
ACCOLADE FUNDS
BY: /S/ Frank E. Holmes
Frank E. Holmes, President