Common use of Replacement of Lost Investments Clause in Contracts

Replacement of Lost Investments. In the event of a loss of Investments for which the Custodian is responsible under the terms of this Agreement, the Custodian shall replace such Investment, or in the event that such replacement cannot be effected, the Custodian shall pay to the affected Fund the fair market value of such Investment based on the Fund's pricing procedures as of the close of business in the relevant market on the date that the claim is paid by the Custodian, or, if the fair market value of the Investment on such date is less than the fair market value on the date that the loss was incurred, the Custodian shall pay to the effected Fund the fair market value of such Investment based on the fair market value of the Investment based on the Fund's pricing procedures as of the close of business in the relevant market on the date that the loss was incurred.

Replacement of Lost Investments. In the event of a loss of Investments for which the Custodian is responsible under the terms of this Agreement, the Custodian shall replace such Investment, or in the event that such replacement cannot be effected, the Custodian shall pay to the affected Fund affectedFund the fair market value of such Investment based on the Fund's ’s pricing procedures as of the close of business in the relevant market on the date that the claim is paid by the Custodian, or, if the fair market value of the Investment on such date is less than the fair market value on the date that the loss was incurred, the Custodian shall pay to the effected Fund the fair market value of such Investment based on the fair market value of the Investment based on the Fund's ’s pricing procedures as of the close of business in the relevant market on the date that the loss was incurred.