Common use of Pricing Error Reimbursements Clause in Contracts

Pricing Error Reimbursements. The investment provider shall agree to hold the Plan harmless for any amounts erroneously credited to participant accounts due to (i) an incorrect calculation of the fund’s daily net asset value (“NAV”), dividend rate, or capital gains distribution rate or (ii) incorrect or late reporting of the daily net asset value, dividend rate, or capital gains distribution rate of a fund, by reimbursing the Contractor, on the Plan’s behalf. In addition, the fund shall be liable to the Contractor for systems and out of pocket costs incurred by the Contractor in making the Plan’s or the participant’s account whole, if such costs or expenses are a result of the fund’s failure to provide timely or correct net asset values, dividend and capital gains or financial information and if such information is not corrected by 4:00 p.m. Eastern Time of the next Business Day after releasing such incorrect information provided the incorrect NAV as well as the correct NAV for each day that the error occurred is provided. If a mistake is caused in supplying such information, which results in a reconciliation with incorrect information, the amount required to make a Plan’s or a participant’s account whole shall be borne by the investment provider providing the incorrect information, regardless of when the error is corrected.

Pricing Error Reimbursements. The investment provider shall agree to hold the Plan harmless for any amounts erroneously credited to participant accounts due to (i) an incorrect calculation of the fund’s daily net asset value (“NAV”), dividend rate, or capital gains distribution rate or (ii) incorrect or late reporting of the daily net asset value, dividend rate, or capital gains distribution rate of a fund, by reimbursing the ContractorTrustee, on the Plan’s behalf. In addition, the fund shall be liable to the Contractor Trustee for systems and out of pocket costs incurred by the Contractor Trustee in making the Plan’s or the participant’s account whole, if such costs or expenses are a result of the fund’s failure to provide timely or correct net asset values, dividend and capital gains or financial information and if such information is not corrected by 4:00 p.m. Eastern Time of the next Business Day after releasing such incorrect information provided the incorrect NAV as well as the correct NAV for each day that the error occurred is provided. If a mistake is caused in supplying such information, which results in a reconciliation with incorrect information, the amount required to make a Plan’s or a participant’s account whole shall be borne by the investment provider providing the incorrect information, regardless of when the error is corrected.

Pricing Error Reimbursements. The investment provider shall agree to hold the Plan harmless for any amounts erroneously credited to participant accounts due to (i) an incorrect calculation of the fund’s daily net asset value (“NAV”), dividend rate, or capital gains distribution rate or (ii) incorrect or late reporting of the daily net asset value, dividend rate, or capital gains distribution rate of a fund, by reimbursing the ContractorCustodian, on the Plan’s behalf. In addition, the fund shall be liable to the Contractor Custodian for systems and out of pocket costs incurred by the Contractor Custodian in making the Plan’s or the participant’s account whole, if such costs or expenses are a result of the fund’s failure to provide timely or correct net asset values, dividend and capital gains or financial information and if such information is not corrected by 4:00 p.m. Eastern Time of the next Business Day after releasing such incorrect information provided the incorrect NAV as well as the correct NAV for each day that the error occurred is provided. If a mistake is caused in supplying such information, which results in a reconciliation with incorrect information, the amount required to make a Plan’s or a participant’s account whole shall be borne by the investment provider providing the incorrect information, regardless of when the error is corrected.