Error Correction Procedures Sample Clauses

Error Correction Procedures. The following procedures will be utilized by Bank with respect to NAV Error corrections: (a) If the error in the computation of the net asset value is less than USD 0.010 (one cent) per Share, no action shall be taken. (b) If a Per Share NAV Error is less than 1⁄2 of 1% (one half of one percent) of the originally computed per Share NAV, Bank, on behalf of the Fund, will determine whether total Fund Losses exceeded total Fund Benefits for the NAV Error Period. If the Fund incurred a net Loss, the Customer will be responsible for obtaining reimbursement for such loss from the responsible person or persons. If the Fund had a net benefit, no action needs to be taken; however, such net Benefit should not be carried forward to any analyses performed in the future for other NAV Errors that may arise. (c) If the Per Share NAV Error equals or exceeds 1⁄2 of 1% (one half of one percent) of the originally computed per Share NAV, 1) account adjustments should be made to compensate Shareholders for Shareholder Losses, and 2) the Customer will be responsible for obtaining reimbursement for such loss from the responsible person or persons for Fund Losses. (i) With respect to individual Shareholder Losses, the Fund (or responsible party) shall pay to individual Shareholders any additional redemption proceeds owed and either refund excess subscription monies paid or credit the Shareholder account as of the date of the NAV Error, for additional Shares. Nevertheless, no correction of a given individual Shareholder account shall be made unless the applicable Shareholder Loss for such Shareholder equals or exceeds a de minimis amount of USD 25 (twenty-five dollars). (ii) With respect to Fund Losses, the Customer will be responsible for causing either the responsible person or persons or the individual Unitholders to reimburse the Fund for the amount of the Fund Losses. (Note that there is no netting of Fund Losses (as described in (b) above) where the error equals or exceeds 1⁄2 of 1% (one half of one percent) of NAV, to the extent benefits were paid out by the Fund to Shareholders as account adjustments). (d) In the case of an NAV Error that fluctuates above and below 1⁄2 of 1% (one half of one percent), individual Unitholder adjustments should be effected for those days where the NAV Error was equal to or exceeded 1⁄2 of 1% (one half of one percent). With respect to the remaining days, the Fund level process described above in Sections 2(a) and (b) above shall apply. (e) If ...
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Error Correction Procedures. Severity 1 Errors: Company shall promptly initiate the following procedures: (i) assign senior technical support members to correct the Error; (ii) notify senior Company management that such Errors have been reported and that steps are being taken to correct the Error; (iii) provide Customer’s Technical Support Contacts with periodic reports on the status of the corrections; and (iv) exercise all commercially reasonable efforts on an urgent priority basis to provide Customer with a Workaround or Fix.
Sample 1
Error Correction Procedures. Subject to, and except as provided in ANNEX A, the procedure for error correction shall be as follows: upon the discovery of any error condition; SBC will endeavor to determine the source of such error condition, whether it is in the platform, in one of the modules of the Amdocs Software Package, an operational error, or some other source; in the event that the Generic Amdocs Software Package (or any component thereof) is the source or cause for or of such error condition, SBC will promptly notify Amdocs of said error and provide Amdocs, in reasonable detail, with all the information that it has discovered with respect to such error, in order to assist Amdocs to correct such error. Promptly upon receipt of such information, Amdocs will identify the cause for and correct the error and will provide the corrective solution to SBC. SBC will implement the correction based on the specific and detailed instructions of Amdocs. If an error condition which was reported to Amdocs is not an error caused by Amdocs or an error or defect in the Generic Amdocs Software Package, Amdocs will have the right to charge SBC for the time spent in handling, diagnosing and correcting the matter, at the time and materials rates set out in SCHEDULE J of the Agreement.
Sample 1
Error Correction Procedures 
Sample 1

Related to Error Correction Procedures

  • Selection Procedures In selecting the Collateral Obligations hereunder and for Affiliates of the Borrower, no selection procedures were employed which are intended to be adverse to the interests of any Agent or Lender.

  • Safety Procedures The Contractor shall: (a) comply with all applicable safety regulations according to Attachment H; (b) take care for the safety of all persons entitled to be on the Site; (c) use reasonable efforts to keep the Site and Works clear of unnecessary obstruction so as to avoid danger to these persons; (d) provide fencing, lighting, guarding and watching of the Works until completion and taking over under clause 10 [Employer's Taking Over]; and (e) provide any Temporary Works (including roadways, footways, guards and fences) which may be necessary, because of the execution of the Works, for the use and protection of the public and of owners and occupiers of adjacent land.

  • Election Procedures (a) Each record holder of Shares (other than Dissenting Shares, if any, Shares owned by Textron and shares to be cancelled in accordance with Section 3.1(b)) issued and outstanding immediately prior to the Effective Time shall be entitled to submit a request specifying the portion of such record holder's Shares which such record holder desires to have converted into (i) the Cash Consideration (a "Cash Election"), (ii) the Stock Consideration (a "Stock Election") or (iii) the Mixed Consideration (a "Mixed Election"), or to indicate that such record holder has no preference as to the receipt of Cash Consideration, Stock Consideration or Mixed Consideration for such Shares (a "Non-Election"). Shares in respect of which a Non-Election is made (including Shares in respect of which such an election is deemed to have been made pursuant to this Section 3.2(a) and Section 3.1(g)) (collectively, "Non-Election Shares") shall be deemed to be Shares in respect of which a Cash Election has been made. (b) Elections pursuant to Section 3.2(a) shall be made on the form of letter of transmittal and form of election (the "Letter of Transmittal and Form of Election") to be provided by the Paying Agent (as defined in Section 3.3(a)) to holders of record of Shares, together with instructions for use in effecting the surrender of the Certificates for payment therefor, as soon as practicable following the Effective Time. The Letter of Transmittal and Form of Election shall specify that delivery shall be effected, and risk of loss and title to the Certificates transmitted therewith shall pass, only upon proper delivery of the Certificates to the Paying Agent. Elections shall be made by mailing to the Paying Agent a duly completed Letter of Transmittal and Form of Election in accordance with Section 3.3(b). To be effective, a Letter of Transmittal and Form of Election must be (i) properly completed, signed and submitted to the Paying Agent at its designated office and (ii) accompanied by the Certificates representing the Shares as to which the election is being made (or by an appropriate guarantee of delivery of such Certificates by a commercial bank or trust company in the United States or a member of a registered national security exchange or of the National Association of Securities Dealers, Inc., provided such Certificates are in fact delivered to the Paying Agent within eight Trading Days after the date of execution of such guarantee of delivery). The Company shall determine, in its sole and absolute discretion, which authority it may delegate in whole or in part to the Paying Agent, whether any Letter of Transmittal and Form of Election has been properly completed, signed and submitted or revoked. The decision of the Company (or the Paying Agent, as the case may be) in such matters shall be conclusive and binding. Neither the Company nor the Paying Agent will be under any obligation to notify any person of any defect in a Letter of Transmittal and Form of Election submitted to the Paying Agent.