NAV Error definition

NAV Error means an error in the computation of the net asset value for a Fund or class as more fully described in the NAV Error Policy.
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NAV Error is defined as one or more errors in the computation of net asset value which, when considered cumulatively, result in a difference between the originally computed NAV and the corrected NAV of at least $0.010 per share. This computation is based upon the actual difference and is not based upon the rounding of the NAV to the nearest cent per share.
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NAV Error has the meaning given in Appendix A.
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Examples of NAV Error in a sentence

  • In the case of an Error Period that spans multiple days, (i) shareholder accounts require correction only on days with a Material NAV Error; and (ii) the Net Loss and the Net Benefit for each day during the Error Period (and the residual Net Loss and/or residual Net Benefit if there are Material NAV Errors on certain days) will be aggregated for purposes of determining the Net Benefit or Net Loss for the Error Period.

  • Accordingly, a multi-class fund could have an NAV Error in one class but not another on the same day (e.g., in the case of an improper class expense accrual).

  • The Fund Accounting Agreement is hereby amended by replacing Schedule II, in its entirety, with the amended Schedule II, attached hereto as Attachment B, by restating NAV Error under the heading “Definitions”.

  • An NAV Error can result from an error (something done wrong), omission (something not done), or reliance on incorrect data.

  • If an NAV Error does not result in an NAV restatement, the original NAV remains the official NAV used for shareholder transactions and performance computations.

  • In the case of a Material NAV Error, corrections are made by correcting or “reprocessing” shareholder transactions/accounts at the correct NAV.

  • An Error Period comprises those days during which the circumstances causing an NAV Error exist prior to correction.

  • In the case of any Material NAV Error, TRP may elect to allow benefited shareholders to retain an undue gain (i.e., subscribing shareholders who receive too many shares as a result of an understated NAV or redeeming shareholders who receive excess proceeds due to an overstated NAV) so long as TRP makes the fund whole for the resultant Net Loss.

  • Correction NAV Errors will be corrected as follows: · If an NAV Error is less than ½ of 1% of NAV and results in a Net Benefit, the fund will retain the benefit.

  • Further, it is possible that the same Error Incident causes an NAV Error, or a Material NAV Error, on one or several days but not all consecutive days during the Error Period (e.g., an unrecorded corporate action results in an improper share position that causes the NAV impact to fluctuate above/below a full cent (or above/below ½ of 1%) on different days prior to discovery and correction).


More Definitions of NAV Error

NAV Error means a Portfolio NAV that contains one or more errors in the calculation of net asset value, which error(s) arise out of an action or omission of the Sub-Administrator and is greater than $0.01 per share as set forth in the Xxxxxx Funds' NAV Error Resolution Policy, a copy of which has been approved by the board of directors of the Portfolios.
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NAV Error has the meaning given to it in Appendix A to this Schedule 1.
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NAV Error means one or more errors in the computation of net asset value which, when considered cumulatively, results in a computed error amount of at least .01 per Share.
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NAV Error has the meaning given in APPENDIX A Net Asset Value Error Correction Policy and Procedures.
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NAV Error has the meaning given in 0Net Asset Value Error Correction Policy and Procedures.
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Related to NAV Error

  • Manifest Error means any error that we reasonably believe to be obvious or palpable, including without limitation, offers to execute Transactions for exaggerated volumes of Underlying Assets or at manifestly incorrect market price quotes or prices at a clear loss.

  • Error means any failure of the Software to operate in conformance with the Documentation in any material respect.

  • LOCKHEED XXXXXX Procurement Representative means a person authorized by LOCKHEED XXXXXX'x cognizant procurement organization to administer and/or execute this Contract.

  • Non-Participating Certified Clinical Nurse Specialist means a Certified Clinical Nurse Specialist who does not have a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Participating Certified Clinical Nurse Specialist means a Certified Clinical Nurse Specialist who has a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Workaround means a temporary modification to or change in operating procedures for the Work that: (i) circumvents or effectively mitigates the adverse effects of a Defect so that the Work complies with and performs in accordance with the applicable Specifications and Documentation; (ii) does not require substantial reconfiguration of the Work or any reloading of data; and (iii) does not otherwise impose any requirements that would impede an end user’s efficient use of the Work.

  • Software Update means a package used to upgrade software to a new version including a change of the configuration parameters.

  • Service Level Failure means a failure to perform the Software Support Services fully in compliance with the Support Service Level Requirements.

  • Errors shall have the meaning specified in Section 8.2(c) of the Sale and Servicing Agreement.

  • Catalog Pricing and Pricing Requirements This is a requirement of the TIPS Contract and is non-negotiable. In this solicitation and resulting contract, "Catalog Pricing" shall be defined as: "The then available list of goods or services, in the most current listing regardless of date, that takes the form of a catalog, price list, price schedule, shelf-price or other viewable format that:

  • Expiry Date (Data di Scadenza) means the "Expiry Date" as specified in § 1 of the Product and Underlying Data.