As Of Transactions. For purposes of this Article M, the term “
As Of Transactions. For purposes of this Article K, the term “
As Of Transactions a. Calculate “as of” impacts on a daily basis at the class and fund level for each Fund.
b. Adhere to Board approved “as of” policy in recording adjustments or advise Administrator where adherence is not reasonable or practicable. Obtain authorization from Administrator prior to taking action where adherence to Board policy is questioned.
c. Furnish such reports as may be necessary to comply with the Funds’ “as-of” transactions correction policy to Administrator.
As Of Transactions. 13 1. Reporting . . . . . . . . . . . . . . . . 14 2. Liability . . . . . . . . . . . . . . . . 14 Article L Term and Termination of Agreement . . . . . . 16
As Of Transactions. Intermediaries
As Of Transactions. An “as-of” transaction is defined as a transaction processed at a time other than the time of the computation of net asset value per share next computed after receipt of such orders. The effective date of such transactions will be a date prior to the processing date. The difference in the share price between the “as-of” trade date and the processing date could result in a gain or loss to the Share class of a Portfolio and may increase or dilute the assets of the affected Share class or any dividends paid by the Portfolio with respect to such Share class during the Accumulation Period (as defined below).
(a) With respect to this Section 2.04:
As Of Transactions. For purposes of this Article K, the term "TRANSACTION" shall mean any single or "related transaction" (as defined below) involving the purchase or redemption of shares (including exchanges) processed at a time other than the time of the computation of the Fund's net asset value per share next computed after receipt of any such transaction order by RPS due to an act or omission of RPS. "AS OF PROCESSING" refers to the processing of these Transactions. If more than one Transaction ("RELATED TRANSACTION") in the Fund is caused by or occurs as a result of the same act or omission, such transactions shall be aggregated with other transactions in the Fund and be considered as one Transaction.
As Of Transactions. Processing errors which result from any delay or error caused by the Trust Entity may be adjusted through Fund/SERV by the Trust Entity by the necessary transactions on an as-of basis and the cost to the Fund or Fund Agent of such transactions shall be borne by the Trust Entity; provided however, prior authorization must be obtained from the Fund Company if the transaction is back dated more than five days or to a previous calendar year.
As Of Transactions. For purposes of this Article M, the term "TRANSACTION" shall mean any single or "related transaction" (as defined below) involving the purchase or redemption of Shares (including exchanges) that is processed at a time other than the time of the computation of the Fund's net asset value per Share next computed after receipt of any such transaction order by Price Services due to an act or omission of Price Services. "AS OF PROCESSING" refers to the processing of these Transactions. If more than one Transaction ("RELATED TRANSACTION") in the Fund is caused by or occurs as a result of the same act or omission, such transactions shall be aggregated with other transactions in the Fund and be considered as one Transaction. O REPORTING Price Services shall: 1. Utilize a system to identify all Transactions, and shall compute the net effect of such Transactions upon the Fund on a daily, monthly and rolling 365 day basis. The monthly and rolling 365 day periods are hereafter referred to as "CUMULATIVE".
As Of Transactions. (a) The Transfer Agent shall monitor and provide a report on a daily and quarterly basis of the impact of as-of transactions on each of the Funds. Such reports shall reflect the responsible party (i.e. Fund, Transfer Agent, responsible intermediary or processing third party) for each as-of transaction and the accumulated impact of each party’s errors against the Materiality Threshold (defined below) independent of the other parties. For purposes of these calculations, the Transfer Agent shall not be deemed responsible for as-of losses arising from an incorrect instruction from the Fund or processing third party or other third party not within the Transfer Agent’s reasonable control. For purposes of this Section, the “Materiality Threshold” shall mean (i) one half cent ($.005) per share before rounding (determined by dividing the amount of the gain or loss created by the adjustment by the number of shares currently outstanding for the Fund), or (ii) the product of one-half of one percent (1/2%) times the Fund’s Net Asset Value (NAV) per share, times the number of shares outstanding.
(b) With respect to any single day, if the net effect of as-of transactions that were not timely estimated or were not properly estimated is determined to impact the Fund’s NAV per share, the Fund will determine if such transactions, in its reasonable judgment after consultation with the Transfer Agent, are capable of being repriced and reprocessed as a means of resolving the NAV impact.
(c) With respect to any single day, if the cumulative net effect of as-of transactions for which the Transfer Agent is deemed to be the sole responsible party (i) is negative, (ii) is greater than a Materiality Threshold, (iii) was not timely estimated or was not properly estimated, and (iv) such transactions are not capable of being repriced and reprocessed, then the Transfer Agent shall contribute to the settlement of that loss. Subject to Subsection (f) below, the Transfer Agent shall promptly make a payment of that portion of the loss over the Materiality Threshold (calculated on the basis of the total value of all shares of the affected Fund). Any remaining unreimbursed as-of loss caused by the Transfer Agent shall be carried forward and netted against as of gains in the affected Fund until the end of the Quarter. Any amount paid by the Transfer Agent to settle a loss under this Section will be deducted from the amount of any cumulative losses calculated as described below.
(d) Each Quarter...
