Indemnification for Errors. In the event of any error or delay with respect to information regarding the purchase, redemption, transfer or registration of Shares of the Fund, the parties agree that each is obligated to make the Separate Accounts and/or the Fund, respectively, whole for any error or delay that it causes, subject in the case of pricing errors to the related Portfolio's policies on materiality of pricing errors. In addition, each party agrees that neither will receive compensation from the other for the costs of any reprocessing necessary as a result of an error or delay. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section.
Indemnification for Errors. In the event of any error or delay with respect to information regarding the purchase, redemption, transfer or registration of Portfolio Shares, the parties agree that each is obligated to make the Separate Accounts and/or the Portfolios, respectively, whole for any error or delay that it causes, subject in the case of pricing errors to the related Portfolio’s policies on materiality of pricing errors. In addition, each party agrees that neither will receive compensation from the other for the administrative costs of any reprocessing necessary as a result of an error or delay. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section. The Company and the Corporations agree that the Xxxxxxx Funds NAV Error Procedures shall govern.
Indemnification for Errors. In the event of any error or delay with respect to information regarding the purchase, redemption, transfer or registration of Shares of the Fund, the parties agree that each is obligated to make the Separate Accounts and/or the Fund, respectively, whole for any error or delay that it causes, subject in the case of Fund pricing errors to the related Portfolio’s policies on materiality of pricing errors. In addition, each party agrees that neither will receive compensation from the other for the costs of any reprocessing necessary as a result of an error or delay; provided, however, that in the event of a material error, the Fund shall bear the reasonable and necessary expense of correcting such error, which expenses shall not exceed the sum of $3,000 for such error. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section.
Indemnification for Errors. In the event of any error or delay with respect to information regarding the purchase, redemption, transfer or registration of Shares of the Funds, the parties agree U1at each is obligated to make the Separate Accounts and/or the Funds, respectively, whole for any error or delay that it causes, subject in each case to the related Fund’s policies on materiality of pricing errors, if applicable. In addition , the parties specifically agree that any indemnification relating to the costs of reprocessing of transactions will be limited to the reasonable costs of such reprocessing as may be necessary to adjust its respective accounting and/or record-keeping systems as a result of an error or delay; provided, however, that (1) there will be no costs payable with respect to any error or delay identified within two Business Days following the applicable trade date, and (2) the maximum amount as to which either party will be responsible for indemnification for reprocessing costs with respect to any error or delay is $2,000 per occurrence. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section and to use reasonable efforts to take such action as may be appropriate to avoid or mitigate any such costs or losses.
Indemnification for Errors. In the event of any error or delay with respect to information regarding the pricing, purchase, redemption, transfer or registration of shares of the Trust, the parties agree that each is obligated to make the Separate Accounts and/or the Trust, respectively, whole for any error or delay that it causes, subject in each case to the related Fund's policies on materiality of pricing errors, if applicable. In addition, each party agrees that no party will receive compensation from the other for the costs of any reprocessing necessary as a result of an error or delay. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section in a mutually agreeable form and which shall be confirmed in writing. If an adjustment is necessary to correct a material error which has caused Variable Contract owners to receive less than the amount to which they are entitled, the number of shares of the appropriate Fund(s) attributable to the accounts of the Variable Contract owners will be adjusted and the amount of any underpayments shall be credited by the Trust to the Company for crediting of such amounts to the applicable Variable Contract owners' accounts. Upon notification by the Trust or its designee of any overpayment due to a material error, the Company shall promptly remit to the Trust any overpayment that has not been paid to Variable Contract owners. If any such overpayment has been paid to Variable Contract owners, upon request by Trust or its designee, the Company shall provide reasonable assistance to recover overpayments from Variable Contract owners or make other adjustments of applicable Shares in the applicable Variable Contract owners' accounts in lieu thereof. If because of a pricing error Variable Contract owners underpaid for units of interest credited to his/her account, upon request by Trust, the Company shall provide reasonable assistance to recover any such underpayments or make or other adjustment of applicable shares in the applicable Variable Contract owners' accounts in lieu thereof.
Indemnification for Errors. In the event of any error or delay with respect to information regarding the purchase, redemption, transfer or registration of Shares of the Trust, the parties agree that each is obligated to make the Separate Accounts and/or the Trust, respectively, whole for any error or delay that it causes, subject in the case of pricing errors to the related Portfolio's policies on materiality of pricing errors. In addition, the parties agree to work together in good faith with respect to consideration of payment of reasonable costs of administrative costs of any reprocessing resulting from a pricing error or delay, insofar as any such costs arise out of or is based on any error or alleged error made in the pricing of shares of a Portfolio. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section. The Company and the Trust agree that Xxxxx Xxxxx Pricing Error Procedures shall govern.
Indemnification for Errors. In the event of any error or delay with respect to information regarding the calculation of the NAV, purchase, redemption, transfer or registration of Shares of the Fund, the parties agree that each is obligated to make the Separate Accounts and/or the Fund, respectively, whole for any error or delay that it causes, subject in the case of pricing errors to the related Portfolio’s policies on materiality of pricing errors. In addition, each party agrees to compensate the other party for any reasonable cost of reprocessing and/or adjustments to an Owner’s account and or a Fund/Portfolio, as applicable, provided however the minimum and maximum amounts that would be payable by either party for any such reprocessing and/or adjustment costs (not including amounts to make Owners - Fund/Portfolio whole) are $250 and $8,000, respectively. In the event that an Owner receives less than his proportionate, indirect ownership interest in a Portfolio from a related purchase, redemption or exchange due to the error of the Company or any affiliate, the Company shall solely be responsible for compensating the Owner. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section.
Indemnification for Errors. In the event of any error or delay with respect to information regarding the purchase, redemption, or transfer of Shares of the Fund, the Company agrees that it is obligated to make the Fund whole for any error or delay that it causes, subject in the case of pricing errors to the related Portfolio's policies on materiality of pricing errors. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section.
Indemnification for Errors. In the event of any error or delay with respect to information regarding the purchase, redemption, transfer or registration of Shares of the Trust, the parties agree that each is obligated to make the Separate Accounts and/or the Trust, respectively, whole for any error or delay that it causes, subject in the case of pricing errors to the related Portfolio's policies on materiality of pricing errors. In addition, each party agrees that neither will receive compensation from the other for the administrative costs of any reprocessing necessary as a result of an error or delay. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section. The Company and the Trust agree that Eatox Xxxxx Xxxcing Error Procedures shall govern.
Indemnification for Errors. In the event of any error or delay with respect to information regarding the purchase, redemption, transfer or registration of Shares of the Fund, the parties agree that each is obligated to make the Accounts and/or the Fund, respectively, whole for any error or delay that it causes, subject in the case of pricing errors to the Fund’s policies on materiality of pricing errors. In addition, each party will compensate the other for the reasonable out-of-pocket costs, as mutually agreed upon in good faith by the parties, of any reprocessing necessary to adjust its respective accounting and/or record-keeping systems as a result of an error or delay. Each party agrees to provide the other with prompt notice of any errors or delays of the type referred to in this Section and to use reasonable efforts to take such action as may be appropriate to avoid or mitigate any such costs or losses. Subject to the provisions of the foregoing paragraph, any material error in calculation or reporting of the closing net asset value including any applicable daily dividend factor per Share shall be reported immediately upon discovery to the Company. In such event the Company shall be entitled to an adjustment to the number of Shares purchased or redeemed to reflect the correct closing net asset value, including any applicable daily dividend factor per share and the Fund shall bear the cost of correcting such errors. Any errors of a lesser amount shall be corrected in the next Business Day’s net asset value per Share.
