Common use of Indemnification for Errors Clause in Contracts

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.

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 '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 's net asset value per Share.