Common use of Trust valuation Clause in Contracts

Trust valuation. Mellon agrees to provide to the Trust, its service providers or its agents for each Valuation Date a valuation service for each Portfolio. The total net assets ("TNA") of a Portfolio on a Valuation Date shall equal the aggregate value of the assets of such Portfolio less the value of the accrued liabilities of such Portfolio. The TNA of a Portfolio shall be determined in accordance with that Portfolio's pricing and valuation procedures, a true and correct copy of which shall be provided to Mellon. Mellon is authorized to obtain and rely upon prices and quotes from independent pricing services or from the Trust, an investment adviser to the Trust or a Portfolio or a person authorized to provide such information as set forth in the Portfolio's pricing and valuation procedures. Mellon shall be without liability or responsibility for any loss occasioned by such reliance. When prices from independent pricing services utilized by Mellon are not readily available or the Trust, an investment adviser or such authorized person believes such prices are inaccurate or unreliable, the Trust shall direct, or cause its investment advisers or such authorized person to direct, Mellon as to a price or quote to be used; and Mellon shall be fully protected in relying upon and acting in accordance with such direction in determining the price or quote.

Trust valuation. Mellon agrees to provide to the Trust, its service providers or its agents for each Valuation Date a valuation net asset value calculation service for each PortfolioFund. The total net assets ("TNA") of a Portfolio Fund on a Valuation Date shall equal the aggregate value of the assets of such Portfolio Fund less the value of the accrued liabilities of such PortfolioFund. The TNA of a Portfolio Fund shall be determined in accordance with that PortfolioFund's pricing and valuation procedures, a true and correct copy of which shall be provided to Mellon. Mellon is authorized to obtain and rely upon prices and quotes from independent pricing services or from the Trust, an investment adviser to the Trust or a Portfolio Fund or a person authorized to provide such information as set forth in the PortfolioFund's pricing and valuation procedures. Mellon shall be without liability or responsibility for any loss occasioned by such reliance. When prices from independent pricing services utilized by Mellon are not readily available or the Trust, an investment adviser or such authorized person believes such prices are inaccurate or unreliable, the Trust shall direct, or cause its investment advisers or such authorized person to direct, Mellon as to a price or quote to be used; and Mellon shall be fully protected in relying upon and acting in accordance with such direction in determining the price or quote.