Common use of NAV Errors Clause in Contracts

NAV Errors. If the Corporation’s NAV error correction policy (the “Policy”) requires that the NAV be recalculated, GFS will reprocess the activity for shareholders in accordance with the Policy and, provided GFS was not responsible for the error, the Corporation shall reimburse GFS for all reasonable reprocessing costs. In calculating any NAV difference for which GFS would otherwise be liable under this Agreement for a particular NAV error that continues for a period covering more than one NAV determination, Fund losses and gains for the period shall be netted.