Common use of Trade Errors Clause in Contracts

Trade Errors. The Sub-Adviser shall notify the Adviser promptly upon detection of any trade error in connection with its management of the Allocated Portion. In the event of such an error, the Sub-Adviser shall also provide a memorandum to the Adviser that describes the error. Further, the Sub-Adviser shall provide access to the Adviser and the Fund, or their agents, to all documents and information related to any such error, its analysis and correction, and the correction of any such error impacting the Fund must be corrected to the satisfaction of the Adviser and the Fund. Notwithstanding Section 9, the Sub-Adviser will reimburse the Fund for costs, losses or damages incurred, arising out of or resulting from the error. It is acknowledged and agreed that any error that results in a gain to the Fund shall offset against any liability of the Sub-Adviser under this Agreement.

Trade Errors. The Sub-Adviser shall notify the Adviser promptly upon detection of any trade error in connection with its management of the Allocated Portion. In the event of such an error, the Sub-Adviser shall also provide a memorandum to the Adviser that describes the error. Further, the Sub-Adviser shall provide access to the Adviser and the Fund, or their agents, to all documents and information related to any such error, its analysis and correction, and the correction of any such error impacting the Fund must be corrected to the satisfaction of the Adviser and the Fund. Notwithstanding Section 9, the Sub-Adviser will reimburse the Fund for costs, losses or damages incurred, arising out of or resulting from any error directly caused by the errorSub-Adviser. It is acknowledged and agreed that any error that results in a gain to the Fund shall offset against any liability of the Sub-Adviser under this Agreement.