Trade Errors. The Sub-Advisor will notify the Manager of any Trade Error(s), regardless of materiality, promptly upon the discovery such Trade Error(s) by the Sub-Advisor. Notwithstanding Section 5, the Sub-Advisor shall be liable to the Manager, the Fund or its shareholders for any loss suffered by the Manager or the Fund resulting from Trade Errors due to negligence, misfeasance, or disregard of duties of the Sub Advisor or any of its directors, officers, employees, agents (excluding any broker-dealer selected by the Sub-Advisor), or affiliates. For purposes under this Section 6, “Trade Errors” are defined as errors due to (i) erroneous orders by the Sub-Advisor for the Series that result in the purchase or sale of securities that were not intended to be purchased or sold; (ii) erroneous orders by the Sub-Advisor that result in the purchase or sale of securities for the Series in an unintended amount or price; or (iii) purchases or sales of financial instruments which violate the investment limitations or restrictions disclosed in the Fund’s registration statement and/or imposed by applicable law or regulation (calculated at the Sub-Advisor’s portfolio level), unless otherwise agreed to in writing.
Trade Errors. The Sub-Adviser shall notify the Adviser promptly upon detection of any error in connection with its management of the Allocated Portion, including but not limited to any trade errors. In the event of an error, the Sub-Adviser shall also provide a memorandum to the Adviser that sufficiently describes the error and the action to be taken to prevent future occurrences of that type of error or, alternatively, a statement that the Sub-Adviser has reviewed the relevant controls, and has determined those controls are reasonably designed to prevent additional errors in the future (and, to the extent relevant, that such controls are reasonably designed to prevent violations of the federal securities laws), and as such no further action is required. Further, the Sub-Adviser shall provide access to the Adviser and the Fund, or their agents, to all documents and information related to any error, its analysis and correction, and the correction of all errors impacting the Fund must be corrected to the satisfaction of the Adviser and the Fund. Notwithstanding Section 9, the Sub-Adviser will reimburse the Fund for costs, losses or damages incurred directly resulting from the error, if any. It is acknowledged and agreed that any error that results in a gain to the Fund shall inure to the benefit of the Fund and shall not provide any offset against any liability of the Sub-Adviser under this Agreement. For the avoidance of doubt, it is acknowledged and agreed that the Fund is a third party beneficiary of the reimbursement obligation set forth in this provision, and the Fund or the Adviser is entitled to recovery from the Sub-Adviser pursuant to this provision.
Trade Errors. The General Partner shall seek to detect Trade Errors prior to settlement and promptly correct and mitigate any Trade Error Losses. If an Indemnified Person is entitled to exculpation pursuant to Section 4.05 in connection with acts or omissions that result in any Trade Error Loss, such Trade Error Loss will be borne by the Partnership. The General Partner will evaluate each Trade Error to determine whether a particular Trade Error Loss must be borne by the Partnership. To the extent that the Partnership bears a Trade Error Loss caused by a counterparty of the Partnership or an Affiliate of the Partnership, the General Partner shall seek to recover such Trade Error Loss from such counterparty.
Trade Errors. On occasion, an error may be made in a client's account. For example, a security may be erroneously purchased for a client account instead of sold. In these situations, we generally seek to correct the error by placing the client account in a similar position as it would have been had there been no error, at no cost to the client. Depending on the circumstances, corrective steps may be taken, including but not limited to, cancelling the trade, adjusting an allocation, and/or crediting the customer's account. In the event the trading error results in a profit, the profit is retained by the client.
Trade Errors. The Holder reserves the right, depending on the circumstances, to decline to reimburse for any errors or mistakes of the Holder with respect to the Holder's placement or execution of trades under the Transaction Document, as such errors may be considered by the Holder to be a cost of doing business. The Holder will (in its absolute and sole discretion) determine whether or not any trade error is required to be reimbursed. The Holder has an inherent conflict of interest with respect to the discovery and treatment of trade errors.
Trade Errors. If any trading errors occur in the handling of transactions for the Subadvised Portfolio due to the Subadviser’s actions or inaction (each, a “Subadviser Trade Error”), the Subadviser shall be responsible for identifying and correcting any such Subadviser Trade Errors as promptly as practicable. Notwithstanding anything to the contrary in this Agreement, in the event of any Subadviser Trade Errors, the Subadviser shall be responsible for any loss or expense resulting therefrom. Subadviser Trade Errors include, but are not limited to, (i) erroneous orders by the Subadviser for the Subadvised Portfolio that result in the purchase or sale of Investments that were not intended to be purchased or sold, and (ii) erroneous orders by the Subadviser that result in the purchase or sale of Investments for the Subadvised Portfolio in an unintended amount or price.
Trade Errors. All Account trades are placed electronically, via facsimile, or telephonically by WBI. WBI assumes responsibility for any Account losses for trading errors directly resulting from WBI’s failure to follow WBI's trading procedures or from a lapse in WBI's internal communications. In such instances, the Account will be compensated for any such corresponding losses. However, the Client acknowledges that WBI cannot and will not be responsible for Account errors and/or losses that occur where WBI has used its best efforts (without direct failure on the part of WBI) to execute trades in a timely and efficient manner. If a trade or some portion of a trade is not effected or an electronic “glitch” occurs which results in the Account not being traded at the same time or at the same price as others, and such occurrence is not a result of WBI’s failure to execute or follow its trade procedures, the resulting loss will not be considered a trading error for which WBI is responsible. In addition, virtually all mutual funds and ETFs, as disclosed in their prospectuses, reserve the right to refuse to execute trades if, in a fund's sole judgment, the trades would jeopardize the value of the fund. WBI has no authority to change, alter, amend, or negotiate any provision set forth in a mutual fund or ETF prospectus. The Client further acknowledges that WBI cannot and will not be responsible for trades that are not properly executed by any clearing firm, custodian, or mutual fund, or insurance company, when an order has been properly submitted by WBI. Finally, WBI cannot be responsible for a unilateral adverse decision by a mutual fund, ETF, or insurance company, to restrict and/or prohibit mutual fund or ETF asset management programs.
Trade Errors. The Manager shall provide a report not later than the tenth (10th) Business Day following each month-end listing all trade errors that occurred with respect to the Portfolios during the prior month, including the incorrect ticker, the intended ticker, the amount of the loss or gain resulting from such trade error, an indication as to whether such trade error has been corrected as of such month-end, and an indication of whether any outstanding trade errors from prior months have been corrected as of such month-end. EXHIBIT A FORM OF SAR GRANT (see attached) CCUR HOLDINGS, INC. STOCK APPRECIATION RIGHTS AGREEMENT This Agreement (the “Agreement”) is made as of [●] (the “Date of Grant”) by and between CCUR Holdings, Inc., a Delaware corporation (the “Company”) and [●] (the “Grantee”).