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.

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.

NAV Error has the meaning given in Appendix A.

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.

• For a fund that prices its shares to the nearest penny (e.g., $10.00) for transaction purposes, an NAV Error is any misstatement of the NAV that is a difference of at least one full penny per share (without rounding) between the originally computed NAV and the correct NAV.

• If there is either a delay in delivery of a Fund’s NAV or a Material NAV Error arising out of BNY Mellon Misconduct, it is acknowledged there may be Liabilities sustained by such Intermediaries, which, if they had been sustained or incurred by the Fund, would be the type of Liabilities for which BNY Mellon would have been liable under this Agreement (“Covered Liabilities”).

• A Material NAV Error is an NAV Error that is equal to or greater than ½ of 1% of the correct NAV.

• 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.

• NAV Errors will be corrected as follows: · If an NAV Error is less than ½ of 1% of NAV and results in a Net Benefit, the fund will retain the benefit.

• The report will also include information about shareholder accounts that were corrected in the discretion of TRP in the case of an NAV Error that is not a Material NAV Error.

• An NAV Error can result from an error (something done wrong), omission (something not done), or reliance on incorrect data.

• 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.

NAV Error has the meaning given in Appendix A to this Schedule.

NAV Error has the meaning given in 0Net Asset Value Error Correction Policy and Procedures.

NAV Error has the meaning given in APPENDIX A Net Asset Value Error Correction Policy and Procedures.

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.