Common use of Processing Adjustments Clause in Contracts

Processing Adjustments. Each business day the Company and LFSI will reconcile their records so that an appropriate number of shares of each of the Funds are credited to the Accounts invested in the various Funds with LFSI. (a) In the event of any error (other than a Pricing Error, as hereinafter defined) or delay with respect to the procedures outlined in this Section 3 which is caused by LFSI, LFSI shall make any adjustments on its accounting system necessary to correct such error or delay and shall reimburse the Accounts for any losses or reasonable costs incurred directly as a result of the error or delay. (b) In the event of any error or delay with respect to the procedures outlined in this Section 3 which is caused by the Company, the Company shall adjust its records accordingly in order to correct such error or delay. The Company will notify LFSI of the error and required correction and shall reimburse LFSI for any losses or reasonable costs incurred as a result of the error or delay. In the event of an error or delay caused by the Company, LFSI will process any adjustment with the trade date of the day such error or delay is identified by the Company to LFSI. (iii) The Company and LFSI, respectively, each agree to provide the other prompt notice of any errors or delays of the type referred to in this Section 3(a) and to use reasonable efforts to take such action as may be appropriate to avoid or mitigate any such costs or losses.

Processing Adjustments. Each business day the Company and LFSI Vanguard will reconcile their records so that an appropriate number of shares of each of the Funds are is credited to the Accounts Plan accounts invested in the various Funds with LFSIVanguard. (ai) In the event of any error (other than a Pricing Error, as hereinafter defined) or delay with respect to the procedures outlined in this Section 3 which is caused by LFSIVanguard, LFSI Vanguard shall make any adjustments on its accounting system necessary to correct such error or delay and shall reimburse the Accounts Plan for any losses or reasonable costs incurred directly as a result of the error or delay. (bii) In the event of any error or delay with respect to the procedures outlined in this Section 3 which that is caused by the Company, the Company shall adjust its records accordingly in order to correct such error or delay. The Company will notify LFSI Vanguard of the error and required correction and shall reimburse LFSI Vanguard and the Funds for any losses or reasonable costs incurred as a result of the error or delay. In the event of an error or delay caused by the Company, LFSI Vanguard will process any adjustment with the trade date of the day such error or delay is identified by the Company to LFSIVanguard. (iii) The Company and LFSIVanguard, respectively, each agree to provide the other prompt notice of any errors or delays of the type referred to in this Section 3(a3(i) and to use reasonable efforts to take such action as may be appropriate to avoid or mitigate any such costs or losses.

Processing Adjustments. Each business day the Company and LFSI Vanguard will reconcile their records so that an appropriate number of shares of each of the Funds are is credited to the Accounts invested in the various Funds with LFSIVanguard. (ai) In the event of any error (other than a Pricing Error, as hereinafter defined) or delay with respect to the procedures outlined in this Section 3 which is caused by LFSIVanguard, LFSI Vanguard shall make any adjustments on its accounting system necessary to correct such error or delay and shall reimburse the Accounts for any losses or reasonable costs incurred directly as a result of the error or delay. (bii) In the event of any error or delay with respect to the procedures outlined in this Section 3 which is caused by the Company, the Company shall adjust its records accordingly in order to correct such error or delay. The Company will notify LFSI Vanguard of the error and required correction and shall reimburse LFSI Vanguard and the Funds for any losses or reasonable costs incurred as a result of the error or delay. In the event of an error or delay caused by the Company, LFSI Vanguard will process any adjustment with the trade date of the day such error or delay is identified by the Company to LFSIVanguard. (iii) The Company and LFSIVanguard, respectively, each agree to provide the other prompt notice of any errors or delays of the type referred to in this Section 3(a3(i) and to use reasonable efforts to take such action as may be appropriate to avoid or mitigate any such costs or losses.