Common use of NAV Calculation and Reporting Clause in Contracts

NAV Calculation and Reporting. (a) X.X. Xxxxxx shall perform NAV calculations in accordance with: (i) the Prospectus; (ii) the 1940 Act; (iii) Valuation Procedures and the Trust’s Policy Regarding the Correction of Net Asset Value Pricing Errors adopted by the Trust’s Board of Trustees from time to time and agreed to by X.X. Xxxxxx; and (iv) Instructions which are consistent with X.X. Xxxxxx’x operating model, provided that, in the cases of (iii) and (iv), they are consistent with (i) and (ii). (b) X.X. Xxxxxx shall perform the following NAV calculation functions Daily, unless otherwise agreed with the Customer: (i) recording all security transactions including appropriate gains and losses from the sale of Fund securities applying dual sell selection methodology such that highest “book” cost applied to market trades and lowest “book” cost applied to in-kind redemption trades; (ii) recording each Fund’s (or class’) capital share activities based upon Share Transactions received by the Order Taker; (iii) accounting for and recording interest income, amortization/accretion income and dividend income and distributions made be each Fund; (iv) accruing Fund (or class) expenses according to instructions received from the Funds’ Administrator; (v) recording all corporate actions affecting securities held by each Fund; (vi) determining the outstanding receivables and payables for all (1) security trades, (2) Share transactions; and (3) income and expense accounts; and (vii) obtaining security prices from independent pricing services, or if such quotes are unavailable, obtaining such prices from the ETF Fund Servicing Agreement Funds’ Investment Adviser or its designee, as approved by the Board. (viii) sending the daily PCF to the Customer as directed. (ix) calculating the estimated and actual Cash Component of the PCF and transmitting it as directed by the Customer. (x) differentiating between and track gains/losses from redemption in kind trades and gains/losses from market trading; (xi) creating for each Fund, the PCF file on any given business day and transmitting the PCF file to NSCC daily; (xii) If required, on a daily basis providing on T+1 portfolio holdings publicly available for each Fund for population by the Trust on a website designated by the Trust, including names and numbers of shares held of each specific security together with the specific types of financial instruments and characteristics of same, money market instruments and amount of cash held in the portfolio of each Fund; and (xiii) Any additional reporting agreed to between X.X. Xxxxxx and the Trust necessary to support the Trust’s website. (c) X.X. Xxxxxx shall review daily the net asset value calculation for each Fund , check and confirm the net asset values for reasonableness and deviations, and report confirmed NAV calculations to (i) the Investment Adviser; (ii) the Order Taker; and (iii) such third parties as agreed with the Customer.

NAV Calculation and Reporting. (a) X.X. Xxxxxx shall perform NAV calculations in accordance with: (i) the Prospectus; (ii) the 1940 Act; (iii) Valuation Procedures and the Trust’s Policy Regarding the Correction of Net Asset Value Pricing Errors adopted by the Trust’s Board of Trustees from time to time and agreed to by X.X. XxxxxxProcedures; and (iv) Instructions which are consistent with X.X. Xxxxxx’x operating model, provided that, in the cases of (iii) and (iv), they are consistent with (i) and (ii). (b) X.X. Xxxxxx shall perform the following NAV calculation functions Daily, unless otherwise agreed with the Customer: (i) recording all security transactions including appropriate gains and losses from the sale of Fund securities applying dual sell selection methodology such that highest “book” cost applied to market trades and lowest “book” cost applied to in-kind redemption trades; (ii) recording each Fund’s (or class’) capital share activities based upon Share Transactions received by the Order Taker; (iii) accounting for and recording interest income, amortization/accretion income and dividend income and distributions made be each Fundincome; (iv) accruing Fund (or class) expenses according to instructions received from the Funds’ Administrator; (v) recording all corporate actions affecting securities held by each Fund; (vi) determining the outstanding receivables and payables for all (1) security trades, (2) Share transactionsTransactions; and (3) income and expense accounts; and (vii) obtaining security prices from independent pricing services, or if such quotes are unavailable, obtaining such prices from the ETF Fund Servicing Agreement Funds’ Investment Adviser or its designee, as approved by the Board. (viii) sending the daily PCF to the Customer as directed. (ix) calculating the estimated and actual Cash Component of the PCF and transmitting it as directed by the Customer. (x) differentiating between and track gains/losses from redemption in kind trades and gains/losses from market trading; (xi) creating for each Fund, the PCF file on any given business day and transmitting the PCF file to NSCC daily; (xii) If required, on a daily basis providing on T+1 portfolio holdings publicly available for each Fund for population by the Trust on a website designated by the Trust, including names and numbers of shares held of each specific security together with the specific types of financial instruments and characteristics of same, money market instruments and amount of cash held in the portfolio of each Fund; and (xiii) Any additional reporting agreed to between X.X. Xxxxxx and the Trust necessary to support the Trust’s website. (c) X.X. Xxxxxx shall review daily the net asset value calculation for each Fund , check and confirm the net asset values for reasonableness and deviations, and report confirmed NAV calculations to (i) the Investment Adviser; (ii) the Order Taker; and (iii) such third parties as agreed with the Customer.

NAV Calculation and Reporting. (a) X.X. Xxxxxx shall perform NAV calculations in accordance with: (i) the Prospectus; (ii) the 1940 Act; (iii) Valuation Procedures and the Trust’s Policy Regarding the Correction of Net Asset Value Pricing Errors adopted by the Trust’s Board of Trustees from time to time and agreed to by X.X. XxxxxxProcedures; and (iv) Instructions which are consistent with X.X. Xxxxxx’x operating model, provided that, in the cases of (iii) and (iv), they are consistent with (i) and (ii). (b) X.X. Xxxxxx shall perform the following NAV calculation functions Daily, unless otherwise agreed with the Customer: (i) recording all security transactions including appropriate gains and losses from the sale of Fund securities applying dual sell selection methodology such that highest “book” cost applied to market trades and lowest “book” cost applied to in-kind redemption trades; (ii) recording each Fund’s (or class’) capital share activities based upon Share Transactions received by the Order Taker; (iii) accounting for and recording interest income, amortization/accretion income and dividend income and distributions made be each Fundincome; (iv) accruing Fund (or class) expenses according to instructions received from the Funds’ Administrator; (v) recording all corporate actions affecting securities held by each Fund; (vi) determining the outstanding receivables and payables for all (1) security trades, (2) Share transactions; and (3) income and expense accounts; and (vii) obtaining security prices from independent pricing services, or if such quotes are unavailable, obtaining such prices from the ETF Fund Servicing Agreement Funds’ Investment Adviser or its designee, as approved by the Board. (viii) sending the daily PCF to the Customer as directed. (ix) calculating the estimated and actual Cash Component of the PCF and transmitting it as directed by the Customer. (x) differentiating between and track gains/losses from redemption in kind trades and gains/losses from market trading; (xi) creating for each Fund, the PCF file on any given business day and transmitting the PCF file to NSCC daily; (xii) If required, on a daily basis providing on T+1 portfolio holdings publicly available for each Fund for population by the Trust on a website designated by the Trust, including names and numbers of shares held of each specific security together with the specific types of financial instruments and characteristics of same, money market instruments and amount of cash held in the portfolio of each Fund; and (xiii) Any additional reporting agreed to between X.X. Xxxxxx and the Trust necessary to support the Trust’s website. (c) X.X. Xxxxxx shall review daily the net asset value calculation for each Fund , check and confirm the net asset values for reasonableness and deviations, and report confirmed NAV calculations to (i) the Investment Adviser; (ii) the Order Taker; and (iii) such third parties as agreed with the Customer.

NAV Calculation and Reporting. (a) X.X. J.X. Xxxxxx shall perform NAV calculations in accordance with: (i) the Prospectus; (ii) the 1940 Act; (iii) Valuation Procedures and the Trust’s Policy Regarding the Correction of Net Asset Value Pricing Errors adopted by the Trust’s Board of Trustees from time to time and agreed to by X.X. XxxxxxProcedures; and (iv) Instructions which are consistent with X.X. J.X. Xxxxxx’x operating model, provided that, in the cases of (iii) and (iv), they are consistent with (i) and (ii). (b) X.X. J.X. Xxxxxx shall perform the following NAV calculation functions Daily, unless otherwise agreed with the Customer: (i) recording all security transactions including appropriate gains and losses from the sale of Fund securities applying dual sell selection methodology such that highest “book” cost applied to market trades and lowest “book” cost applied to in-kind redemption trades; (ii) recording each Fund’s (or class’) capital share activities based upon Share Transactions received by the Order Taker;; ETF Fund Servicing Agreement – March 2010 version (iii) accounting for and recording interest income, amortization/accretion income and dividend income and distributions made be by each Fund; (iv) accruing Fund (or class) expenses according to instructions received from the Funds’ Administrator; (v) recording all corporate actions affecting securities held by each Fund; (vi) determining the outstanding receivables and payables for all (1) security trades, (2) Share transactions; and (3) income and expense accounts; and; (vii) obtaining security prices from independent pricing services, or if such quotes are unavailable, obtaining such prices from the ETF Fund Servicing Agreement Funds’ Investment Adviser or its designee, as approved by the Board. (viii) sending the daily PCF to the Customer as directed.; (ix) calculating the estimated and actual Cash Component of the PCF and transmitting it as directed by the Customer.; (x) amortize premiums and accrete discounts on securities purchased at a price other than face value, if requested by a Fund; (xi) differentiating between and track gains/losses from redemption in kind trades and gains/losses from market tradingtrades; (xixii) creating for each Fund, the PCF file on any given business day and transmitting the PCF file to the NSCC daily; (xii) If required, on a daily basis providing on T+1 portfolio holdings publicly available for each Fund for population by the Trust on a website designated by the Trust, including names and numbers of shares held of each specific security together with the specific types of financial instruments and characteristics of same, money market instruments and amount of cash held in the portfolio of each Fund; and (xiii) Any additional reporting agreed to between X.X. Xxxxxx and the Trust necessary to support the Trust’s website. (c) X.X. Xxxxxx shall review daily the net asset value calculation for each Fund , check and confirm the net asset values for reasonableness and deviations, and report confirmed NAV calculations to (i) the Investment Adviser; (ii) the Order Taker; and (iii) such third parties as agreed with the Customer.

NAV Calculation and Reporting. (a) X.X. Xxxxxx shall perform NAV calculations in accordance with: (i) the Prospectus; (ii) the 1940 Act; (iii) Valuation Procedures and the Trust’s Policy Regarding the Correction of Net Asset Value Pricing Errors adopted by the Trust’s Board of Trustees from time to time and agreed to by X.X. XxxxxxTrustees; and (iv) Instructions which are consistent with X.X. Xxxxxx’x operating model, provided that, in the cases of (iii) and (iv), they are consistent with (i) and (ii). (b) X.X. Xxxxxx shall perform the following NAV calculation functions Daily, unless otherwise agreed with the Customer: (i) recording all security transactions including appropriate gains and losses from the sale of Fund securities applying dual sell selection methodology such that highest “book” cost applied to market trades and lowest “book” cost applied to in-kind redemption trades; (ii) recording each Fund’s (or class’) capital share activities based upon Share Transactions received by the Order Taker; (iii) accounting for and recording interest income, amortization/accretion income and dividend income and distributions made be each Fund; (iv) accruing Fund (or class) expenses according to instructions received from the Funds’ Administrator; (v) recording all corporate actions affecting securities held by each Fund; (vi) determining the outstanding receivables and payables for all (1) security trades, (2) Share transactions; and (3) income and expense accounts; and (vii) obtaining security prices from independent pricing services, or if such quotes are unavailable, obtaining such prices from the ETF Fund Servicing Agreement Funds’ Investment Adviser or its designee, as approved by the Board. (viii) sending the daily PCF to the Customer as directed. (ix) calculating the estimated and actual Cash Component of the PCF and transmitting it as directed by the Customer. (x) differentiating between and track gains/losses from redemption in kind trades and gains/losses from market trading;; ETF Fund Servicing Agreement – December 2010 version (xi) creating for each Fund, the PCF file on any given business day and transmitting the PCF file to NSCC daily; (xii) If required, on a daily basis providing on T+1 portfolio holdings publicly available for each Fund for population by the Trust on a website designated by the Trust, including names and numbers of shares held of each specific security together with the specific types of financial instruments and characteristics of same, money market instruments and amount of cash held in the portfolio of each Fund; and (xiii) Any additional reporting agreed to between X.X. Xxxxxx and the Trust necessary to support the Trust’s website. (c) X.X. Xxxxxx shall review daily the net asset value calculation for each Fund , check and confirm the net asset values for reasonableness and deviations, and report confirmed NAV calculations to (i) the Investment Adviser; (ii) the Order Taker; and (iii) such third parties as agreed with the Customer.