Common use of Daily Calculation of Program Value and Rate of Return Clause in Contracts

Daily Calculation of Program Value and Rate of Return. (a) The Administrator shall calculate the Investment Property Value for each Account once on each business day at the time and in the manner provided in the Valuation Procedures contained in Exhibit C, hereto. (b) Upon performing the valuation specified in Section 5.7(a) hereof, the Administrator shall calculate (rounding off to the nearest whole cent) the balance of each Participant and each balance of each of the Participants shall be adjusted proportionately so that the total balances of all the Participants equals the aggregate Investment Property Value for the Accounts. (c) For purposes of calculating the Investment Property Value, the amount of any uncertain or contingent Investment Property Liability shall be deemed to be equal to the amount of the reserve, if any, against such Investment Property Liability that has been determined from time-to-time by the Administrator. (d) For purposes of calculating the Investment Property Value, if the value of any part of the Investment Property is uncertain or contingent, the value of such part of the Investment Property shall be deemed to be equal to the amount determined from time-to-time by the Administrator. (e) The Administrator shall calculate daily the rate of return earned on the Investment Property held in each Account.

Daily Calculation of Program Value and Rate of Return. (a) The Administrator shall calculate the Investment Property Value for each Account once on each business day Business Day at the time and in the manner provided in the Valuation Procedures contained in Exhibit C, hereto. (b) Upon performing the valuation specified in Section 5.7(a) hereof, the Administrator shall calculate (rounding off to the nearest whole cent) the balance Balance of each Participant and each balance Balance of each of the Participants shall be adjusted proportionately so that the total balances Balances of all the Participants equals the aggregate Investment Property Value for the Accounts. (c) For purposes of calculating the Investment Property Value, the amount of any uncertain or contingent Investment Property Liability shall be deemed to be equal to the amount of the reserve, if any, against such Investment Property Liability that has been determined from time-to-time to time by the Administrator. (d) For purposes of calculating the Investment Property Value, if the value of any part of the Investment Property is uncertain or contingent, the value of such part of the Investment Property shall be deemed to be equal to the amount determined from time-to-time to time by the Administrator. (e) The Administrator shall calculate daily the rate of return earned on the Investment Property held in each Account.