Common use of Reimbursement by USBFS Clause in Contracts

Reimbursement by USBFS. If at any point during the accumulation period, an “as-of” loss amount, at the Series or share class level, becomes equal to or exceeds the lesser value of (i) $0.005 per share of the Series, or (ii) $25,000, on a cumulative net basis (the “Material Cumulative Loss Amount”), USBFS shall notify GEAM and the Series’ account agent (“Fund Accounting”) immediately. At that time, USBFS will provide a detailed explanation of the transaction, or transactions, which caused the “as-of” amount to equal or exceed the lesser value of $0.005 per share or the $25,000 threshold. USBFS will work closely with GEAM to identify and resolve the full gain/loss amount. If USBFS is identified as the Responsible Party for such Material Cumulative Loss Amount, then USBFS shall reimburse the applicable Series for such Material Cumulative Loss Amount within thirty (30) calendar days from the date of the transaction that resulted in the Material Cumulative Loss Amount. At the end of each fiscal period, USBFS shall not be responsible for any “as-of” loss amount remaining on the books of a Series that is less than the lesser of (i) $0.005 per share of the Series; or (ii) $25,000.00, on a cumulative net basis. The cumulative tracking mechanism for “as-of” losses will be reset to zero to begin the next fiscal period. In the event that a Responsible Party for an “as-of” loss amount cannot be clearly identified, the determination for reimbursement shall be a collective effort between GEAM and USBFS.