Common use of Trade Reporting Clause in Contracts

Trade Reporting. By 7:30 a.m. ET each Business Day following Trade Date ("TD + 1), FIIOC will provide, via facsimile, to GMO's Shareholder Services Group instructions for the net purchase or net redemption of Shares of the Funds based on Orders accepted by FIIOC prior to Close of Trading on the prior Business Day. In the event that such instructions represent estimated trade activity, FIIOC shall provide final instructions to GMO's Shareholder Services Group by no later than 9:00 a.m. ET. Such purchase or redemption instructions shall be effected at the public offering price of the Shares of the respective Fund calculated as of the Close of Trading on the Business Day on which the Order was accepted by FIIOC. The detailed activity reporting procedures to be followed by GMO's Shareholder Services Group and FIIOC are outlined in Exhibit C attached hereto, as such Exhibit may be amended from time to time by the parties hereto.