NAV Error definition

NAV Error means an error in the computation of the net asset value for a Fund or class as more fully described in the NAV Error Policy.
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NAV Error is defined as one or more errors in the computation of net asset value which, when considered cumulatively, result in a difference between the originally computed NAV and the corrected NAV of at least $0.010 per share. This computation is based upon the actual difference and is not based upon the rounding of the NAV to the nearest cent per share.
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NAV Error has the meaning given in Appendix A.
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Examples of NAV Error in a sentence

  • In the case of an Error Period that spans multiple days, (i) shareholder accounts require correction only on days with a Material NAV Error; and (ii) the Net Loss and the Net Benefit for each day during the Error Period (and the residual Net Loss and/or residual Net Benefit if there are Material NAV Errors on certain days) will be aggregated for purposes of determining the Net Benefit or Net Loss for the Error Period.

  • An Error Period comprises those days during which the circumstances causing an NAV Error exist prior to correction.

  • In the case of a Material NAV Error, corrections are made by correcting or “reprocessing” shareholder transactions/accounts at the correct NAV.

  • If an NAV Error does not result in an NAV restatement, the original NAV remains the official NAV used for shareholder transactions and performance computations.

  • Further, there may also be losses or benefits to shareholders if the shareholders exchanged all shares of a fund with a Material NAV Error into another fund (“New Fund”) during an Error Period.

  • In the case of a full redemption at an understated NAV, the redeeming shareholder would be reimbursed directly for the additional amount they would have received in the absence of the NAV Error (subject to the $10 per-account correction minimum).

  • The Fund Accounting Agreement is hereby amended by deleting Schedule II (NAV Error Policy) attached thereto and replacing it in its entirety with the new Schedule II (NAV Error Policy) attached hereto as Attachment B.

  • The Fund Accounting Agreement is hereby amended by replacing Schedule II, in its entirety, with the amended Schedule II, attached hereto as Attachment B, by restating NAV Error under the heading “Definitions”.

  • To the extent an NAV Error is corrected by adjusting shareholder accounts/transactions at the correct NAV (i.e., the NAV is restated), the restated NAV becomes the official NAV and is used for all purposes, including shareholder account/transaction correction, performance computations, “as of” transactions, and financial reporting.

  • An NAV Error is evaluated for each NAV calculation during an Error Period.


More Definitions of NAV Error

NAV Error means a Portfolio NAV that contains one or more errors in the calculation of net asset value, which error(s) arise out of an action or omission of the Sub-Administrator and is greater than $0.01 per share as set forth in the Xxxxxx Funds' NAV Error Resolution Policy, a copy of which has been approved by the board of directors of the Portfolios.
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NAV Error has the meaning given to it in Appendix A to this Schedule 1.
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NAV Error has the meaning given in 0Net Asset Value Error Correction Policy and Procedures.
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NAV Error has the meaning given in APPENDIX A Net Asset Value Error Correction Policy and Procedures.
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NAV Error means one or more errors in the computation of net asset value which, when considered cumulatively, results in a computed error amount of at least .01 per Share.
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Related to NAV Error

  • Manifest Error means any error that we reasonably believe to be obvious or palpable, including without limitation, offers to execute Transactions for exaggerated volumes of Underlying Assets or at manifestly incorrect market price quotes or prices at a clear loss.

  • Medication error means any preventable event that may cause or lead to inappropriate medication use or patient harm, while the medication is in the control of the health care professional, patient, or consumer. Such events may be related to professional practice, health care products, procedures, and systems including, but not limited to: prescribing; order communication; product labeling, packaging and nomenclature; compounding; dispensing; distribution; administration; education; monitoring; and use.

  • Clerical error means a minor error:

  • Error means any failure of the Software to operate in conformance with the Documentation in any material respect.

  • Bug means a repeatable phenomenon of unintended events or actions during the running of a Software Device under normal conditions that results in:

  • Continued Errors has the meaning specified in Section 2.2(c)(iii).

  • LOCKHEED XXXXXX Procurement Representative means a person authorized by LOCKHEED XXXXXX'x cognizant procurement organization to administer and/or execute this Contract.

  • Critical Path means those Trade Contractor Work activities identified on the Construction Schedule which, if delayed, will cause a corresponding Delay in the Substantial Completion Date.

  • Reference man means a hypothetical aggregation of human physical and physiological characteristics determined by international consensus. These characteristics may be used by researchers and public health workers to standardize results of experiments and to relate biological insult to a common base.

  • Workaround means a change in the procedures followed or data supplied by Customer to avoid an Error without substantially impairing Customer’s use of the Software.

  • Post-consumer recovered material means any product used by a consumer, including a business that purchases the material, that has served its intended end use, and that has been separated or diverted from the solid waste stream for the purpose of use, reuse, or recycling.

  • Software Update means a release of Software, in object code form, or firmware, which provides minor fixes, improvements and modifications to the Software or Equipment. Kodak software releases that are designated as updates will be identified A.B.x where the x designates the release as a Software Update.

  • Service Level Failure means a failure to perform the Software Support Services fully in compliance with the Support Service Level Requirements.

  • Reference evapotranspiration or “ETo” means a standard measurement of environmental parameters which affect the water use of plants. ETo is given expressed in inches per day, month, or year as represented in Appendix C of these Guidelines, and is an estimate of the evapotranspiration of a large field of four to seven-inch tall, cool-season grass that is well watered. Reference evapotranspiration is used as the basis of determining the Maximum Applied Water Allowances.

  • Root Cause Analysis Report means a report addressing a problem or non-conformance, in order to get to the ‘root cause’ of the problem, which thereby assists in correcting or eliminating the cause, and prevent the problem from recurring.

  • Manifest means the form used for identifying the quantity, composition, origin, routing, and destination of hazardous waste during its transportation from the point of generation to the point of disposal, treatment, or storage.

  • Commercial Operation Date (COD) means the date certified by the DISCOM’s committee upon successful commissioning (as per provisions of the PPA) of the project when all equipments as per rated capacity have been installed and energy has flown into the grid.

  • Errors shall have the meaning specified in Section 8.2(c) of the Sale and Servicing Agreement.

  • Catalog Pricing and Pricing Requirements This is a requirement of the TIPS Contract and is non-negotiable. In this solicitation and resulting contract, "Catalog Pricing" shall be defined as: "The then available list of goods or services, in the most current listing regardless of date, that takes the form of a catalog, price list, price schedule, shelf-price or other viewable format that: