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(c) respond to all inquiries and other communications of Participants, if any, <br />which are directed to the Program Administrator, or, if any such inquiry or communication is <br />more properly addressed by an officer of the Custodian, referring such inquiry or <br />communication to such person and coordinating his response thereto; <br />(d) pay all Investment Property Liabilities in accordance with this Agreement <br />from the Investment Property; and <br />(e) engage in marketing activities to promote participation of Texas <br />governmental entities in the Trust. <br />4.7 Resignation and Removal. <br />(a) The Program Administrator may resign as Program Administrator upon <br />the giving of at least sixty (60) days' prior written notice of such resignation to the Board of <br />Trustees and the Custodian. <br />(b) A majority of the Board of Trustees may remove the Program <br />Administrator upon the giving of at least sixty (60) days' prior written notice to the Program <br />Administrator and the Custodian. <br />(c) In the event that the Program Administrator shall give notice of its <br />resignation or if the Board of Trustees shall give notice of the removal of the Program <br />Administrator, a majority of the Board of Trustees shall appoint a successor. <br />(d) Upon notification of the removal or resignation of the Program <br />Administrator, the Program Administrator shall deliver to the Board all data and records <br />pertaining to Texas CLASS and its Participants within 60 days of the notification of removal <br />or resignation, provided, however, that the Program Administrator may retain copies of any <br />such data and records required to be retained by it by law or in compliance with the <br />requirements of its corporate records retention policy. The Program Administrator shall <br />continue to administer Texas CLASS until a successor program administrator is appointed by <br />the Board under the terms of this Agreement. <br />(e) If a new program administrator is not appointed by the Board within 60 <br />days of a notification of removal or resignation of the Program Administrator, the Program <br />Administrator shall continue to administer Texas CLASS until a successor program <br />administrator is selected, but shall be compensated for such administration pursuant to an <br />agreement to be negotiated between the Program Administrator and the Board. <br />4.8 Liabili . <br />(a) Each Participant agrees that the Program Administrator and its officers, <br />directors, agents and employees shall not be liable for any action performed or omitted to be <br />performed or for any errors of judgment made in good faith in connection with any matters to <br />which this Agreement relates, provided that such disclaimer shall not relieve any of them for <br />liability arising from negligence, malfeasance, material breach of this Agreement by the <br />Program Administrator or violation of applicable law by any of them ( "Program <br />15 <br />#4350219.1 <br />