VALUATION 2. 1. The value of the Assets shall be determined as of the time for calculation of the net asset value of the Acquired Fund as set forth in its then-current prospectus, and after the declaration of any dividends by the Acquired Fund, on the Closing Date (such time and date being hereinafter called the Valuation Date), computed using the valuation procedures set forth in the then-current prospectus and statement of additional information, as supplemented, with respect to the Acquired Fund and valuation procedures established by OGMFs Board of Trustees. All computations of value shall be made by X.X. Xxxxxx Investor Services Co., in its capacity as fund accountant for the Acquired Fund. 2.2. The net asset value per share of each class of Acquiring Fund Shares shall be determined to the nearest full cent as of the time for calculation of the net asset value of the Acquiring Fund as set forth in its then-current prospectus on the Closing Date, using the valuation procedures set forth in the then-current prospectus and statement of additional information, as supplemented, with respect to the Acquiring Fund and valuation procedures established by JPMorgans Board of Trustees. All computations of value shall be made by JPMorgan Chase Bank, N.A., in its capacity as fund accountant for the Acquiring Fund. 2.3. The number of Acquiring Fund Shares of each class to be issued in exchange for the Assets shall be determined with respect to each such class by dividing the value of the net assets with respect to each class of Acquired Fund Shares, determined using the same valuation procedures referred to in paragraph 2.1, by the net asset value of an Acquiring Fund Share of the corresponding class, determined using the same valuation procedures referred to in paragraph 2.2. 3.
VALUATION 2. 1. The value of the Assets shall be determined as of the time for calculation of the net asset value of the Acquired Fund as set forth in its then-current prospectus, and after the declaration of any dividends by the Acquired Fund, on the Closing Date (such time and date being hereinafter called the Valuation Date), computed using the valuation procedures set forth in the then-current prospectus and statement of additional information, as supplemented, with respect to the Acquired Fund and valuation procedures established by Acquired Fund Companys Board of Trustees. All
VALUATION 2. 1. On the Closing Date, the Acquiring Fund will deliver to the Acquired Fund a number of Acquiring Fund Shares (including fractional shares, if any) determined as provided in Section 1. 2.2. The value of the Acquired Fund's net assets will be computed as of the Valuation Date (as defined below) using the valuation procedures for the Acquiring Fund set forth in the Acquiring Trust's Declaration of Trust and By-Laws and the Registration Statement on Form N-14 of the Acquiring Trust (the "Registration Statement"). 2.3. The net asset value of an Acquiring Fund Share shall be the net asset value per Class A share of the Acquiring Fund computed as of the Valuation Date using the valuation procedures for the Acquiring Fund set forth in the Acquiring Trust's Declaration of Trust and the Registration Statement. 2.4. The Valuation Date shall be 4:00 p.m. Eastern time, and after the declaration of any dividends by the Acquired Fund, on the business day immediately preceding the Closing Date, or such earlier date as may be mutually agreed upon in writing by the parties hereto (the "Valuation Date"). 2.5. The Acquiring Fund shall issue the Acquiring Fund Shares to the Acquired Fund on one share deposit receipt registered in the name of the Acquired Fund. The Acquired Fund shall distribute in liquidation the Acquiring Fund Shares received by it hereunder to its Class A shareholders as contemplated by Section 1.1, by redelivering such share deposit receipt to the Acquiring Trust's transfer agent which will as soon as practicable set up open accounts for Acquired Fund shareholders in accordance with written instructions furnished by the Acquired Fund. Immediately after the close of business on the Valuation Date, the share transfer books of the Acquired Fund will be closed and no further transfers of Acquired Fund Shares will be made. 2.6. The Acquired Fund will pay or cause to be paid to the Acquiring Fund any interest, cash or such dividends, rights and other payments received by it on or after the Closing Date with respect to the Investments (as defined below) and other properties and assets of the Acquired Fund, whether accrued or contingent, received by it on or after the Closing Date. Any such distribution shall be deemed included in the assets transferred to the Acquiring Fund at the Closing Date and shall not be separately valued unless the securities in respect of which such distribution is made shall have gone "ex" such distribution prior to the Valuation Date, ...
VALUATION 2. 1 The NAV per share of each class of the Fundamental Value Fund Shares and the NAV per share of each class of Pioneer Disciplined Value Fund shall, in each case, be determined as of the close of regular trading on the New York Stock Exchange (generally, 4:00 p.m., Eastern time) on the Closing Date (the "Valuation Time"). Pioneer shall compute the NAV per Fundamental Value Fund Share in the manner set forth in Pioneer Series Trust III's Agreement and Declaration of Trust (the "Declaration"), or By-Laws, and Pioneer Series Trust III's then-current prospectus and statement of additional information. Pioneer shall compute the NAV per share of Pioneer Disciplined Value Fund in the manner set forth in Pioneer Series Trust V's Agreement and Declaration of Trust, or By-Laws, and Pioneer Disciplined Value Fund's then-current prospectus and statement of additional information. Pioneer shall confirm to Pioneer Fundamental Value Fund the NAV of Pioneer Disciplined Value Fund. 2.2 The number of shares of each class of Fundamental Value Fund Shares to be issued (including fractional shares, if any) in exchange for the Disciplined Value Fund Assets and the assumption of the Assumed Liabilities shall be determined by Pioneer by dividing the NAV of Pioneer Disciplined Value Fund attributable to each class of Pioneer Disciplined Value Fund's shares, as determined in accordance with Paragraph 2.1, by the NAV of a Fundamental Value Fund Share of the corresponding class, as determined in accordance with Paragraph 2.1. 2.3
VALUATION 2. 1. The value of the Assets shall be computed as of the close of regular trading on The New York Stock Exchange, Inc. on the business day immediately preceding the Closing Date, as defined in Section 3.1 (such time and date being hereinafter called the "Valuation Time") after the declaration and payment of any dividends and/or other distributions on that date, using the valuation procedures set forth in the Acquiring Fund's Declaration of Trust, as amended, and then-current prospectus or statement of additional information. 2.2. The net asset value of an Acquiring Fund share shall be the net asset value per share computed as of the Valuation Time using the valuation procedures referred to in section 2.1. 2.3. The number of the Acquiring Fund Shares to be issued (including fractional shares, if any) in exchange for the Assets shall be determined by dividing the value of the Net Assets with respect to shares of the Acquired Fund determined in accordance with section 2.1 by the net asset value of an Acquiring Fund Share determined in accordance with section 2.2. 2.4. All computations of value at the Valuation Time shall be made by or under the direction of each Fund's respective accounting agent, if applicable, in accordance with its regular practice and the requirements of the 1940 Act and shall be subject to confirmation by each Fund's respective independent accountants. 2.5 The Acquiring Fund shall deliver a copy of its valuation report to the Acquired Fund prior to Closing. 3.
VALUATION 2. 1. The value of the Assets shall be the value computed as of immediately after the close of business of the New York Stock Exchange (after the declaration of any dividends) on the Closing Date (such time and date being hereinafter called the “Valuation Date”), using the valuation procedures set forth in the Acquiring Trust’s Declaration of Trust and then-current prospectus and statement of additional information with respect to the Acquiring Funds, and valuation procedures established by the Acquiring Trust’s Board of Trustees. 2.2. All computations of value shall be made by the Acquired Funds’ designated record keeping agent and shall be subject to review by the Acquiring Funds’ record keeping agent and by each Fund’s respective independent registered public accountants. 3.
VALUATION 2. 1. The value of the Assets shall be the value of such Assets as of the close of business of the New York Stock Exchange and after the declaration of any dividends on the Closing Date (such time and date being also referred herein as the Valuation Date), computed using the valuation procedures set forth in Acquired Funds then-current prospectus and statement of additional information, each as may be supplemented, and valuation procedures established by the Acquired Funds Board of Trustees. 2.2. The net asset value of an Acquiring Fund Share shall be the net asset value per share computed with respect to that class as of the Valuation Date, using the valuation procedures set forth in the Acquiring Funds then-current prospectus and statement of additional information, each as may be supplemented, and valuation procedures established by MSTs Board of Trustees. 2.3. The number of the Acquiring Fund Shares to be issued (including fractional shares, if any) in exchange for the Acquired Funds Assets shall be determined by dividing the value of the net Assets with respect to the single class of outstanding shares of beneficial interest of Acquired Fund Shares determined using the same valuation procedures referred to in paragraph 2.1, by the net asset value of Acquiring Fund Shares, determined using the same valuation procedures referred to in paragraph 2.2. 2.4. All computations of value shall be made by State Street Bank and Trust Company, in its capacity as sub-administrator for MST and the Acquired Fund, and shall be subject to confirmation by Munder Capital Management (MCM), the administrator for MST as well as the Acquired Fund. 3.
VALUATION 2. 1 The NAV per share of each class of the Independence Fund Shares and the NAV per share of each class of Pioneer Disciplined Growth Fund shall, in each case, be determined as of the close of regular trading on the New York Stock Exchange (generally, 4:00 p.m., Eastern time) on the Closing Date (the "Valuation Time"). Pioneer shall compute the NAV per Independence Fund Share in the manner set forth in Pioneer Independence Fund's Agreement and Declaration of Trust (the "Declaration"), or By-Laws, and Pioneer Independence Fund's then-current prospectus and statement of additional information. Pioneer shall compute the NAV per share of Pioneer Disciplined Growth Fund in the manner set forth in Pioneer Series Trust V's Agreement and Declaration of Trust, or By-Laws, and Pioneer Disciplined Growth Fund's then-current prospectus and statement of additional information. Pioneer shall confirm to Pioneer Independence Fund the NAV of Pioneer Disciplined Growth Fund. 2.2 The number of shares of each class of Independence Fund Shares to be issued (including fractional shares, if any) in exchange for the Disciplined Growth Fund Assets and the assumption of the Assumed Liabilities shall be determined by Pioneer by dividing the NAV of Pioneer Disciplined Growth Fund attributable to each class of Pioneer Disciplined Growth Fund's shares, as determined in accordance with Paragraph 2.1, by the NAV of an Independence Fund Share of the corresponding class, as determined in accordance with Paragraph 2.1. 2.3 Pioneer Independence Fund and Pioneer Disciplined Growth Fund shall cause Pioneer to deliver a copy of its valuation report to the other party at Closing (as defined in Paragraph 3.1). All computations of value shall be made by Pioneer or its agents in accordance with its regular practice as pricing agent for Pioneer Independence Fund and Pioneer Disciplined Growth Fund. 3.
VALUATION 2. 1. The value of the Assets shall be the value computed as of immediately after the close of business of the New York Stock Exchange (after the declaration of any dividends) (such time and date being hereinafter called the “Valuation Date”), using the valuation procedures set forth in the Trust’s Declaration of Trust and then-current prospectus and statement of additional information with respect to the Acquiring Fund, and valuation procedures established by the Acquiring Fund’s Board. 2.2. All computations of value shall be made by the Acquired Fund’s designated record keeping agent and shall be subject to review by the Acquiring Fund’s record keeping agent and by each Fund’s respective independent registered public accountants. 3.
VALUATION 2. 1. For purposes of paragraph 1.1(a), Target's net value shall be (a) the value of the Assets computed immediately after the close of regular trading on the New York Stock Exchange ("NYSE") and Target's declaration of dividends and/or other distributions, if any, on the date of the Closing ("Valuation Time"), using the valuation procedures set forth in Trust's then-current prospectus and statement of additional information ("Pro/SAI"), less (b) the amount of the Liabilities at the Valuation Time. 2.2. For purposes of paragraph 1.1(a), the NAV per share of each class of Acquiring Fund Shares shall be computed at the Valuation Time, using the valuation procedures set forth in Acquiring Fund's then-current Pro/SAI. 2.3. All computations pursuant to paragraphs 2.1 and 2.2 shall be made (a) by or under the direction of Adviser or (b) in the case of securities subject to fair valuation, in accordance with the valuation procedures described in paragraph 2.2. 3.
