Document:

Capital Support Agreement

 Exhibit 10.29.12 
 AMENDMENT NO. 12 
 TO 
 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”). 
 WHEREAS: 
  

	 	1.	The parties hereto entered into a Capital Support Agreement, dated as of December 3, 2007, and amended February 15, 2008, March 5, 2008, March 10,
2008, March 24, 2008, March 26, 2008, March 31, 2008, April 17, 2008, June 18, 2008, July 22, 2008, July 28, 2008 and July 30, 2008 (the “Agreement”); and

  

	 	2.	The parties hereto desire to amend the Agreement on the terms and subject to the conditions provided herein. 

 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: 
  

	1.	Unless otherwise expressly provided herein, capitalized terms shall have the meanings assigned to them in the Agreement. 

  

	2.	Section 1(e) of the Agreement is hereby deleted in its entirety and replaced as set forth below: 

 “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. 
  

	3.	Section 1(g) of the Agreement is hereby deleted in its entirety and replaced as set forth below: 

 “Maximum Contribution Amount” means twenty-five million dollars ($25,000,000). 
  

	4.	Section 1(n) is hereby deleted in its entirety and replaced as set forth below: 

 “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 account’s 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. 
  

 1 

 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. 
  

			
	SEI INVESTMENTS COMPANY
		
	By:	 	/s/ Dennis J. McGonigle
	Name:	 	Dennis J. McGonigle
	Title:	 	Chief Financial Officer
	Date:	 	November 7, 2008

  

			
	ADDRESS FOR NOTICES:
	
	 One Freedom Valley Drive
 Oaks, PA
19456

	
	 SEI LIQUID ASSET TRUST on behalf of its
 PRIME OBLIGATION FUND

		
	By:	 	/s/ Timothy D. Barto
	Name:	 	Timothy D. Barto
	Title:	 	Vice President
	Date:	 	November 7, 2008
	
	ADDRESS FOR NOTICES:
	
	 One Freedom Valley Drive
 Oaks, PA
19456

  

 2Amended and Restated Capital Support Agreement

 Exhibit 10.32 
 AMENDED AND RESTATED 
 CAPITAL SUPPORT AGREEMENT 
 THIS AMENDED AND RESTATED CAPITAL SUPPORT AGREEMENT (this “Agreement”) is made as of the 5th day of November, 2008, by and between SEI
Investments Company (the “Support Provider”) and SEI Daily Income Trust (the “Trust”) for and on behalf of its Prime Obligation Fund (the “Fund”). 
 W I T N E S S E T H: 
 WHEREAS, the Trust is an investment company registered with the
Securities and Exchange Commission in accordance with the Investment Company Act of 1940 (as amended, the “1940 Act”) and the Fund is a series of the Trust; 
 WHEREAS, the Fund is a money market fund that seeks to maintain a stable net asset value of $1.00 per share using the Amortized Cost Method as defined in and in accordance with Rule 2a-7 under the 1940 Act (as
amended, “Rule 2a-7”); 
 WHEREAS, the Fund is rated Aaa by Moody’s Investors Service (“Moody’s”) and AAA by
Standard & Poor’s (“S&P”); 
 WHEREAS, the Fund holds the notes or other instruments identified on Schedule A
attached hereto (each a “Covered Investment” and, together, the “Covered Investments”); 
 WHEREAS, the Trust, on behalf
of the Fund, and the Support Provider have entered into a Capital Support Agreement dated November 8, 2007 and amended February 15, 2008, pursuant to which the Support Provider agreed to provide capital support to the Fund with respect to
certain portfolio holdings, including the Covered Investments; 
 WHEREAS, the Fund’s failure to maintain a stable net asset value of
$1.00 per share could adversely affect the Support Provider’s proprietary mutual fund business, which would reduce the profits derived by the Support Provider from this line of business and potentially injure the Support Provider’s
goodwill and reputation; and 
 WHEREAS, the Support Provider desires to provide additional capital support to the Fund with respect to the
Covered Investments for the purpose of allowing the Fund to maintain its Aaa rating by Moody’s: 
 NOW, THEREFORE, in consideration of
the above premises, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Support Provider and the Trust hereby agree as follows: 
 1. Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings indicated: 
 (a) “Amortized Cost Value” means, with respect to any Covered Investment held by the Fund, the value of that Covered Investment as determined
using the Amortized Cost Method in accordance with Rule 2a-7 on the relevant date. 
 (b) “Capital Contribution” means a cash
contribution by the Support Provider to the Fund for which the Support Provider does not receive any shares or other consideration from the Fund. 

 (c) “Collateral” means the amount of any Letter of Credit, plus the amount of cash or other
eligible assets held in any Segregated Account. 
 (d) “Contribution Event” means, with respect to any Covered Investment, any of
the following occurrences: 
  

	 	(i)	Any sale of the Covered Investment by the Fund for cash in an amount, after deduction of any commissions or similar transaction costs, less than the Amortized Cost Value of the
Covered Investment sold as of the date of settlement; 

  

	 	(ii)	Receipt of final payment on the Covered Investment in an amount less than the Amortized Cost Value of that Covered Investment as of the date such payment is received;

  

	 	(iii)	Issuance of orders by a court having jurisdiction over the matter discharging the issuer of the Covered Investment from liability for the Covered Investment and providing for
payments on that Covered Investment in an amount less than the Amortized Cost Value of that Covered Investment as of the date such payment is received; 

  

	 	(iv)	the receipt of any Replacement Notes on or after April 1, 2009 that have a value that is less than the Amortized Cost Value of the applicable Covered Investment on the date
that the Fund receives such Replacement Notes; or 

  

	 	(v)	the receipt of any Replacement Notes that are or become Qualifying New Securities and have a value that is less than the Amortized Cost Value of the applicable Covered Investment on
the date that the Fund receives such Qualifying New Security. 

 The excess of the Amortized Cost Value of the Covered Investment subject to a
Contribution Event over the amount received by the Fund in connection with such Contribution Event shall constitute the “Loss” on such Covered Investment. 
 (e) “Covered Investment” shall have the meaning given above, but shall include any Replacement Notes other than Qualifying New Securities. 
 (f) “Letter of Credit” means one or more letters of credit issued by the Letter of Credit Provider for the benefit of the Fund, and which shall
terminate no sooner than Termination Date. 
 (g) “Letter of Credit Provider” means JP Morgan Chase Bank, NA., or any substitute
provider whose obligations are rated as First Tier Securities as defined in paragraph (a)(12) of Rule 2a-7. 
 (h) “Qualifying New
Securities” means any Covered Investment which becomes an “Eligible Security,” as defined in paragraph (a)(10) of Rule 2a-7. 
 (i) “Replacement Notes” means any securities or other instruments received in exchange for, or as a replacement of, a Covered Investment as a result an exchange offer, debt restructuring, reorganization or similar transaction
pursuant to which the instrument representing a Covered Investment is exchanged for, or replaced with, new securities of the same issuer or a third party. 
  

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 (j) “Required Collateral Amount” means Collateral having a value equal to the greater of
(i) one hundred fifty million dollars ($150,000,000), less the amount of any Capital Contributions made by the Support Provider as a result of a Contribution Event, or (ii) the amount by which the Amortized Cost Value of the Covered
Investments exceeds 90% of the then-current market value of the Covered Investments as determined by the Fund for purposes of calculating the Fund’s net asset value per share. 
 (k) “Required Contribution Amount” means for the Fund, on the date of any Contribution Event, the Loss with respect to the Covered Investment
giving rise to the Contribution Event. The Required Contribution Amount is intended to enable the Fund to recover any Loss arising out of the Contribution Event with respect to the Covered Investment. The net asset value for purposes of calculating
the Required Contribution Amount shall exclude any account receivable or other asset representing the Support Provider’s obligations under this Agreement. 
 (l) “Segregated Account” means an account established by the Support Provider for the benefit of the Fund (i) at a bank that is a qualified custodian under the 1940 Act, (ii) which may be an
interest-bearing account and/or which account’s assets may be invested into money market instruments, (iii) the assets of which during the term of this Agreement shall be available to the Fund by action initiated by the Fund without the
requirement of further action or consent by the Support Provider; and (iv) the assets of which, in the event of the bankruptcy or insolvency of the Support Provider, shall not constitute property of the bankruptcy estate under 11 U.S.C.
Section 541 or otherwise. 
 (m) “Termination Date” means November 6, 2009. 
 (n) “Termination Event” shall have the meaning given to such term in Section 4(c) of this Agreement. 
 2. Maintenance of Required Collateral Amount. 
 (a) During the term of this Agreement, Support Provider shall ensure that Collateral is maintained at a level that equals or exceeds the Required Collateral Amount. In the event that the aggregate market price of the Covered Investments at
the close of business on any business day drops to a level that causes the amount of Collateral maintained by Support Provider on such date to be below the Required Collateral Amount, then Support Provider shall within three business days obtain or
post additional Collateral so that the amount of Collateral meets or exceeds the Required Collateral Amount. 
 (b) At all times, at least
one hundred fifty million dollars ($150,000,000) of the Required Collateral Amount shall be maintained in the form of one or more Letters of Credit. Should the Required Collateral Amount exceed one hundred fifty million dollars ($150,000,000), then
Collateral required to be maintained in excess of such amount shall be provided first in the form of one or more Letters of Credit up to an additional fifty million dollars ($50,000,000) in the aggregate, minus the amount of any Letters of Credit
issued and outstanding under the Support Provider’s credit facility to any other money market fund pursuant to a capital support arrangement at such time as Support Provider is required to post additional Collateral under this Agreement.
Thereafter, Collateral may be provided in the form of either Letter of Credit or amounts deposited in a Segregated Account. 
 3.
Covenants of the Fund. The Fund agrees that: 
 (a) To the extent consistent with the Fund’s interest, the Board shall consult
with the Support Provider with respect to all decisions regarding each Covered Investment 

  

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(including, but not limited to, any decision to sell the Covered Investment or to forgo the right to any payment) prior to the occurrence of a Contribution
Event with respect to that Covered Investment. Nothing in this Agreement shall be construed to cause the delegation by the Board to any person any authority which is not permitted to be delegated under Rule 2a-7. 
 (b) The Fund will retain any Capital Contribution and not include the Capital Contribution in any dividend or other distribution to the Fund’s
shareholders. For the avoidance of doubt, for purposes of this subparagraph, the redemption of the Fund’s shares shall not constitute a “distribution” to shareholders. 
 (c) The Fund will sell the Covered Investments (i) promptly following any change in the Letter of Credit Provider’s short term credit ratings
such that the Letter of Credit Provider’s obligations no longer qualify as First Tier Securities as defined in paragraph (a)(12) of Rule 2a-7, or (ii) on the business day immediately prior to the Termination Date; provided that, the Fund
shall not be required to complete any such sale if the amount the Fund expects to receive would not result in the payment of a Capital Contribution of the Required Contribution Amount, or, with respect to an event described in 3(c)(i) above, if the
Support Provider substitutes Collateral that complies with the terms of Section 2 of this Agreement within fifteen (15) calendar days from the occurrence of such event and, during such 15 day period, the Letter of Credit Provider’s
obligations continue to qualify as Second Tier Securities under paragraph (a)(22) of Rule 2a-7. 
 4. Contributions to Fund.

 (a) If a Contribution Event occurs prior to the occurrence of a Termination Event, the Support Provider will make a Capital Contribution in
an amount equal to the Required Contribution Amount. 
 (b) The Support Provider shall make the Capital Contribution to the Fund not later
than one business day after the occurrence of a Contribution Event, by 12:00 p.m. Eastern Time. Each Capital Contribution made hereunder shall be made in immediately available funds, without deduction, set-off or counterclaim, to the Fund. In the
event that the Support Provider does not make a Capital Contribution when due, the Fund will either, as determined in the sole discretion of the Fund, (i) draw upon the Letter of Credit, or (ii) draw funds from the Segregated Account, in
either case by 4:00 p.m. Eastern Time on the day that such Capital Contribution was required to have been made in an amount equal to the Required Contribution Amount, and any amount received under such Letter of Credit or withdrawn from the
Segregated Account shall be deemed to be a Capital Contribution made hereunder by the Support Provider. 
 (c) The obligation of the Support
Provider to make Capital Contributions pursuant to this Agreement shall terminate upon the earliest to occur of (such occurrence, a “Termination Event”) (i) the repayment in full, in cash, of all Covered Investments; (ii) the
receipt of Replacement Notes for all of the Covered Investments that are, or become Qualifying New Securities and have an Amortized Cost Value equal to the Amortized Cost Value of the Covered Investments; or (iii) 5:00 p.m. Eastern Time on the
Termination Date. Upon the occurrence of a Termination Event, the Fund shall surrender the Letter of Credit for cancellation and take all actions reasonably necessary to release to the Support Provider funds held in a Segregated Account. 

(d) The Board, in its sole discretion, may cause the Fund to sell the Covered Investments to the extent that the Board determines that the amount of
Collateral maintained under this Agreement is less than the Required Collateral Amount. For the avoidance of doubt, such a sale is a “sale” for purposes of Section 1(d)(i) of this Agreement and the authority granted to the Board under this
Section 4(d) shall be in addition to, and not in limitation of, power granted to the Board or the Fund under any other provision of this Agreement. 
  

 -4- 

 5. Reliance by the Fund and the Board. The Support Provider acknowledges and consents to:

 (a) The Board’s reliance on the Support Provider’s obligations under this Agreement in making any determination required under
Rule 2a-7; and 
 (b) For purposes of calculating the Fund’s mark to market net asset value, the inclusion of the Capital Contribution
that would be payable to the Fund under this Agreement if all of the Covered Investments were sold on the date of such calculation for the market value used to calculate such mark to market net asset value; provided, however, that the
Fund will include the value of a Capital Contribution that would be payable to the Fund under this Agreement only to the extent that the obligation of the Support Provider to make such Capital Contribution is supported by Collateral; and 

(c) The inclusion of such amount in the Fund’s audited or unaudited financial statements, to the extent required by generally accepted accounting
principles. 
 6. Representations and Warranties. The Support Provider hereby represents and warrants that: 
 (a) It is duly organized and validly existing under the laws of the jurisdiction of its organization or incorporation and, if relevant under such laws, in
good standing; 
 (b) It has the power to execute this Agreement, to deliver this Agreement and to perform its obligations under this
Agreement and has taken all necessary action to authorize such execution, delivery and performance; 
 (c) Such execution, delivery and
performance do not violate or conflict with any law applicable to it, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual
restriction binding on or affecting it or any of its assets; 
 (d) All governmental and other consents that are required to have been
obtained by it with respect to this Agreement to which it is a party have been obtained and are in full force and effect and all conditions of any such consents have been complied with; and 
 (e) Its obligations under this Agreement to which it is a party constitute its legal, valid and binding obligations, enforceable in accordance with their
respective terms (subject to applicable bankruptcy, reorganization, insolvency, moratorium or similar laws affecting creditors’ rights generally and subject, as to enforceability, to equitable principles of general application (regardless of
whether enforcement is sought in a proceeding in equity or at law)). 
 7. General. 
 (a) The Fund may not assign its rights under this Agreement to any person or entity, in whole or in part, without the prior written consent of the Support
Provider. 
 (b) No waiver of any provision hereof or of any right or remedy hereunder shall be effective unless in writing and signed by the
party against whom such waiver is sought to be enforced. No delay in exercising, no course of dealing with respect to or no partial exercise of any right or remedy hereunder shall constitute a waiver of any other right or remedy, or future exercise
thereof. 
  

 -5- 

 (c) If any provision of this Agreement is determined to be invalid under any applicable statute or rule
of law, it is to that extent to be deemed omitted, and the balance of the Agreement shall remain enforceable. 
 (d) Subject to the next
sentence, all notices shall be in writing and shall be deemed to be delivered when received by certified mail, postage prepaid, return receipt requested, or when sent by facsimile or e-mail confirmed by call back. All notices shall be directed to
the address set forth under the party’s signature or to such other address as either party may, from time to time, designate by notice to the other party. 
 (e) No amendment, change, waiver or discharge hereof shall be valid unless in writing and signed by the Support Provider and the Fund and notice of such amendment is provided to the staff of the U.S. Securities and
Exchange Commission (the “Commission”); provided that, in no event shall any amendment, change, waiver or discharge hereof extend the Termination Date, unless the parties hereto have obtained the prior approval of the staff of the
Commission. 
 (f) This Agreement shall be governed in all respects by the laws of the Commonwealth of Pennsylvania without regard to its
conflict of laws provisions. 
 (g) This Agreement constitutes the complete and exclusive statement of all mutual understandings between the
parties with respect to the subject matter hereof, superseding all prior or contemporaneous proposals, communications and understandings, oral or written. 
 (h) This Agreement is solely for the benefit of the Fund, and no other person shall acquire or have any rights under or by virtue of this Agreement. 
 (i) This Agreement shall terminate upon the occurrence of any change in the Letter of Credit Provider’s short-term credit ratings such that the
Letter of Credit Provider’s obligations no longer quality as First Tier Securities as defined in paragraph (a)(12) of Rule 2a-7, unless the Support Provider satisfies the terms of paragraph 3(c) of this Agreement relating to arrangements for
substitute Collateral. Termination under this Section 7(i) shall not relieve (i) the Funds of their obligation to sell the Covered Investments, to the extent that such a sale is required by Section 3(c) of this Agreement; or
(ii) the Support Provider of its obligation to make a Capital Contribution to the Fund following such a sale, to the extent that such sale would give rise to a Contribution Event. 
 (j) Nothing in this Agreement shall prevent the Support Provider, in its sole discretion at any time, including in lieu of its obligation to make a
Capital Contribution hereunder, from purchasing any Covered Security from the Fund at its then current Amortized Cost Value pursuant to Rule 17a-9 under the 1940 Act or as otherwise permitted by law. 
  

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 IN WITNESS WHEREOF, the Support Provider has caused this Amended and Restated Capital Support Agreement
to be executed this 5th day of November, 2008. 
  

			
	SEI INVESTMENTS COMPANY
		
	 By:
	 	 /s/ Dennis J. McGonigle

	 Name:
	 	Dennis J. McGonigle
	 Title
	 	Chief Financial Officer
	
	ADDRESS FOR NOTICES:
	
	One Freedom Valley Drive
	Oaks, PA 19456
	
	SEI DAILY INCOME TRUST for and on behalf of its PRIME OBLIGATION FUND
		
	 By:
	 	 /s/ Timothy D. Barto

	 Name:
	 	Timothy D. Barto
	 Title
	 	Vice President
	
	ADDRESS FOR NOTICES:
	
	One Freedom Valley Drive
	Oaks, PA 19456

  

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 SCHEDULE A TO SUPPORT AGREEMENT 
  

							
	Issuer	  	Cusip	    	Par	    	Maturity
	 Gryphon Funding Limited
	  	40052TAA7	    	192,930,848.58	    	07/23/09
	 Victoria Finance
	  	85431AKE6	    	80,000,000.00	    	3/20/08
	 Cheyne Finance*
	  	16705ECWX	    	—  	    	—  
	 Cheyne Finance*
	  	16705EDUX	    	—  	    	—  
	 Cheyne Finance*
	  	16705EEMX	    	—  	    	—  

  

	*	While the Cheyne assets were restructured into Gryphon Funding, and therefore the Gryphon notes represent Replacement Notes for the original Cheyne notes, the Fund also continues to
hold Cheyne notes. Cheyne is effectively a shell entity with nominal assets. 

  

 -8-

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