Common use of Allocation Event Clause in Contracts

Allocation Event. The allocation of the Bond premium shall be determined as of the initial date of each Bond period, as of each date when a Trust or Fund is added to this Agreement or when this Agreement is terminated as to a Trust and when the premium amount increases because of an increase in the Bond Amount during the Bond period. For newly established Funds, Claymore Advisors, LLC, the administrator for each Trust (“Administrator”) shall make a good faith estimate of the expected average net assets for that Fund during the Bond period to be used as a part of this calculation. When a Trust or Fund is added to the Bond, the existing Funds shall receive a reimbursement for the decreased amount of premium to be paid for the Bond period as a result of the addition of the Trust or Fund unless the Administrator determines that the cost of refunding the excess premium would meet or exceed the amount of premium to be refunded. When Funds are subtracted, there shall be no change in amounts owed by the Funds.

Allocation Event. The allocation of the Bond premium shall be determined as of the initial date of each Bond period, as of each date when a Trust or Fund is added to this Agreement or when this Agreement is terminated as to a Trust and when the premium amount increases because of an increase in the Bond Amount during the Bond period. For newly established Funds, Claymore Advisors, LLC, the administrator for each Trust (“"Administrator”") shall make a good faith estimate of the expected average net assets for that Fund during the Bond period to be used as a part of this calculation. When a Trust or Fund is added to the Bond, the existing Funds shall receive a reimbursement for the decreased amount of premium to be paid for the Bond period as a result of the addition of the Trust or Fund unless the Administrator determines that the cost of refunding the excess premium would meet or exceed the amount of premium to be refunded. When Funds are subtracted, there shall be no change in amounts owed by the Funds.