Parallel Testing Period Payments Clause Samples

Parallel Testing Period Payments. During the first month of the Parallel Period, GHFS shall receive no Monthly Administration Fee. For the second month, provided that the preceding month did not result in any errors in daily NAV calculations by GHFS, GHFS shall receive 50% of the Monthly Administration Fee. For the third month, provided that the preceding month did not result in any errors in daily NAV calculations by GHFS, GHFS shall receive 100% of the Monthly Administration Fee; however, if the second month daily NAV calculations resulted in any errors, GHFS shall receive only 50% of the Monthly Administration Fee. GHFS shall not receive 100% of the Monthly Administration fee unless and until GHFS provides two consecutive months of accurate daily NAV calculations. For purposes of this Exhibit D, only a “Material Deviation” (as defined below) in GHFS’ daily NAV calculation from the daily NAV provided by the current fund administrator will be deemed a daily NAV calculation error; provided that the Company has reasonably determined that the current fund administrator has not made an error itself in calculating the daily NAV. A “Material Deviation” shall be defined as any deviation that would be greater than 1/10 of 1% of the Fund’s NAV. All deviations will be reconciled.