Common use of Fund Valuation Clause in Contracts

Fund Valuation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of a share of beneficial interest of each Portfolio, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund and the Prospectus and Statement of Additional Information relating to the Portfolios, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the Fund, the proper exchange and the NASD or such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of each Portfolio and in respect of liabilities of a Portfolio not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by its reasonable and good faith reliance on any quotations received from a source pursuant to (iii)or (iv) above.

Fund Valuation. The Bank shall compute and, unless otherwise directed by -------------- the Board, determine as of the close of regular trading business on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, Board the net asset value and the public offering price of a share of beneficial interest capital stock of each Portfolioseries of the Fund, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund and the Prospectus and Statement of Additional Information relating to the PortfoliosFund, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicableforce; and promptly to notify the Fund, the proper exchange and the NASD or such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of each Portfolio the Fund and in respect of liabilities of a Portfolio the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by its reasonable and such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii)or (iviii) above.

Fund Valuation. The Bank shall compute and, unless otherwise directed by the Board, determine as prescribed in the Prospectus and SAI of the Fund, which is currently as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of a share of beneficial interest capital stock of each PortfolioPortfolio of the Fund, such determination to be made in accordance with the provisions of the Articles of Incorporation and By-laws of the Fund and the Prospectus and Statement of Additional Information relating to the PortfoliosFund, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to promptly/timely notify the Fund, its agent(s), the proper exchange exchange(s) and the NASD or and such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities liabilities/expenses of each Portfolio the Fund and in respect of liabilities liabilities/expenses of a Portfolio the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are availableavailable pursuant to the valuation procedures adopted by the Portfolio(s), and (v) the method of computation of and sales load rates used for the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by its reasonable and such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii)or iii) or (iv) above. Once the information for (v) above has been specified by the Fund or its agent to the Bank (according to the Prospectus and/or SAI), only changes to such information will be provided to the Bank. The Bank will use only approved pricing sources and will advise the Fund promptly when a source cannot provide a price or where the Bank has reason to believe a source is not reliable due to such reasons as data corruption and the like as advised by the source. The Bank will not accept pricing overrides from any person such as a sub-adviser without obtaining approval from the Fund or its Valuation Committee. The Fund will provide the Bank a copy of its Valuation Procedures as well as copies of any subsequent amendments.

Fund Valuation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of a share of beneficial interest capital stock of each PortfolioFund, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund Company and the Prospectus and Statement of Additional Information relating to the PortfoliosFund, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the FundCompany, the proper exchange and the NASD or such other persons as the Fund Company may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of each Portfolio the Fund and in respect of liabilities of a Portfolio the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by its reasonable and such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii)or (iviii) above.

Fund Valuation. The Bank shall compute and, unless otherwise directed by the BoardFund, determine as prescribed by the Fund, which is currently as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and of the public offering price of a share of beneficial interest of each PortfolioFund, such determination to be made in accordance with the provisions of the Articles Rules and Regulations and By-laws of the Fund and the Prospectus and Statement of Additional Information relating to the PortfoliosFund, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to promptly/timely notify the Fund, its agent(s), the proper exchange exchange(s) and the NASD or and such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities liabilities/expenses of each Portfolio the Fund and in respect of liabilities liabilities/expenses of a Portfolio the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are availableavailable pursuant to the valuation procedures adopted by the Fund, and (v) the method of computation of and sales load rates used for the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by its reasonable and such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii)or iii) or (iv) above. Once the information for (v) above has been specified by the Fund or its agent to the Bank, only changes to such information will be provided to the Bank. The Bank will use only approved pricing sources and will advise the Fund promptly when a source cannot provide a price or where the Bank has reason to believe a source is not reliable due to such reasons as data corruption and the like as advised by the source. The Bank will not accept pricing overrides from any person such as a sub-adviser without obtaining approval from the Fund or its Valuation Committee. The Fund will provide the Bank a copy of its Valuation Procedures as well as copies of any subsequent amendments.

Fund Valuation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading business on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, Board the net asset value and the public offering price of a share of beneficial interest capital stock of each Portfoliothe Trust, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund Trust and the Prospectus and Statement of Additional Information relating to the PortfoliosTrust, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the FundTrust, the proper exchange and the NASD or such other persons as the Fund Trust may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of each Portfolio the Trust and in respect of liabilities of a Portfolio the Trust not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by its reasonable and such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii)or (iviii) above.

Fund Valuation. The Bank shall compute and, unless otherwise directed by the Board, determine as prescribed in the Prospectus and SAI of the Fund, which is currently as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of a share of beneficial interest of each Portfolioclass of each Portfolio of the Fund, such determination to be made in accordance with the provisions of the Articles Declaration of Trust and By-laws of the Fund and the Prospectus and Statement of Additional Information relating to the PortfoliosFund, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to promptly/timely notify the Fund, its agent(s), the proper exchange exchange(s) and the NASD or and such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities liabilities/expenses of each Portfolio the Fund and in respect of liabilities liabilities/expenses of a Portfolio the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are availableavailable pursuant to the valuation procedures adopted by the Portfolio(s), and (v) the method of computation of and sales load rates used for the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by its reasonable and such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii)or iii) or (iv) above. Once the information for (v) above has been specified by the Fund or its agent to the Bank (according to the Prospectus and/or SAI), only changes to such information will be provided to the Bank. The Bank will use only approved pricing sources and will advise the Fund promptly when a source cannot provide a price or where the Bank has reason to believe a source is not reliable due to such reasons as data corruption and the like as advised by the source. The Bank will not accept pricing overrides from any person such as a sub-adviser without obtaining approval from the Fund or its Valuation Committee. The Fund will provide the Bank a copy of its Valuation Procedures as well as copies of any subsequent amendments.

Fund Valuation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and the public offering price of a share shame of beneficial interest capital stock of each PortfolioFund, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund Company and the Prospectus and Statement of Additional Information relating to the PortfoliosFund, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the FundCompany, the proper exchange and the NASD or such other persons as the Fund Company may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of each Portfolio the Fund and in respect of liabilities of a Portfolio the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by its reasonable and such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii)or (iviii) above.

Fund Valuation. The Bank shall Custodian shall, for each Fund compute and, unless otherwise directed by the BoardFund, determine as of the close of regular trading business on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized directed by the BoardFund, the net asset value and the public offering price of a share of beneficial interest capital stock of each Portfoliosuch Fund, such determination to be made in accordance with the provisions of instructions received by the Articles and By-laws of the Fund and the Prospectus and Statement of Additional Information relating to the Portfolios, as they may Custodian from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the Fund, the proper exchange and the NASD or such other persons as Custodian shall promptly notify the Fund may request of the results of such computation and determination, and shall report such results to NASDAQ via the Custodian's NASDAQ Level II Terminal. In computing the net asset value hereunderfor a Fund, the Bank Custodian may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of each Portfolio a Fund and in respect of liabilities of a Portfolio Fund not appearing on its books of account kept by the BankCustodian, (ii) reserves, if any, authorized by the Board a Fund, or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset valuevalue of a Fund, (iv) the value to be assigned to any security Security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the sharesshares of a Fund, and the Bank Custodian shall not be responsible for any loss occasioned by its reasonable and good faith reliance on any quotations received from a source pursuant to (iii)or (iv) abovesuch reliance.

Fund Valuation. The Bank shall compute and, unless otherwise directed by the BoardFund, determine as prescribed by the Fund, which is currently as of the close of regular trading on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, the net asset value and valueof the public offering price of a share of beneficial interest of each PortfolioFund, such determination to be made in accordance with the provisions of the Articles Rules and Regulations and By-laws of the Fund and the Prospectus and Statement of Additional Information relating to the PortfoliosFund, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to promptly/timely notify the Fund, its agent(s), the proper exchange exchange(s) and the NASD or and such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities liabilities/expenses of each Portfolio the Fund and in respect of liabilities liabilities/expenses of a Portfolio the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are availableavailable pursuant to the valuation procedures adopted by the Fund, and (v) the method of computation of and sales load rates used for the public offering price on the basis of the net asset value of the shares, and the Bank shall not be responsible for any loss occasioned by its reasonable and such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii)or iii) or (iv) above. Once the information for (v) above has been specified by the Fund or its agent to the Bank, only changes to such information will be provided to the Bank. The Bank will use only approved pricing sources and will advise the Fund promptly when a source cannot provide a price or where the Bank has reason to believe a source is not reliable due to such reasons as data corruption and the like as advised by the source. The Bank will not accept pricing overrides from any person such as a sub-adviser without obtaining approval from the Fund or its Valuation Committee. The Fund will provide the Bank a copy of its Valuation Procedures as well as copies of any subsequent amendments.

Fund Valuation. The Bank shall compute and, unless otherwise directed by the Board, determine as of the close of regular trading business on the New York Stock Exchange on each day on which said Exchange is open for unrestricted trading and as of such other days, or hours, if any, as may be authorized by the Board, Board the net asset value and the public offering price of a share of beneficial interest capital stock of each Portfoliothe Fund, such determination to be made in accordance with the provisions of the Articles and By-laws of the Fund and the Prospectus and Statement of Additional Information relating to the PortfoliosFund, as they may from time to time be amended, and any applicable resolutions of the Board at the time in force and applicable; and promptly to notify the Fund, the proper exchange and the NASD or such other persons as the Fund may request of the results of such computation and determination. In computing the net asset value hereunder, the Bank may rely in good faith upon information furnished to it by any Authorized Person in respect of (i) the manner of accrual of the liabilities of each Portfolio the Fund and in respect of liabilities of a Portfolio the Fund not appearing on its books of account kept by the Bank, (ii) reserves, if any, authorized by the Board or that no such reserves have been authorized, (iii) the source of the quotations to be used in computing the net asset value, (iv) the value to be assigned to any security for which no price quotations are available, and (v) the method of computation of the public offering price on the basis of the net asset value of the shares, ; and the Bank shall not be responsible for any loss occasioned by its reasonable and such reliance or for any good faith reliance on any quotations received from a source pursuant to (iii)or (iviii) above.