Common use of Price Errors Clause in Contracts

Price Errors. (a) In the event adjustments are required to correct any error in the computation of the net asset value of a Fund's shares, the Company or its designee shall notify the Recordkeeper as soon as practicable after discovering the need for those adjustments that result in a reimbursement to an Account in accordance with the Fund's then current policies on reimbursement. Notification may be made via facsimile or via direct or indirect systems access. Any such notification shall be promptly followed by a letter written on the Company's or such designee's letterhead stating for each day for which an error occurred the incorrect price, the correct price, and, to the extent communicated to the Fund's shareholders, the reason for the price change. (b) If an Account received amounts in excess of the amounts to which it otherwise would have been entitled prior to an adjustment for an error, the Recordkeeper, when requested by the Company or its designee, will use its best efforts to collect the excess amounts from the applicable Plans. (c) If an adjustment is to be made in accordance with subsection 4(a) above to correct an error which has caused an Account to receive an amount less than that to which it is entitled, the Company or its designee shall make all necessary adjustments (within the parameters specified in subsection 4(a)) to the number of shares owned in the Account and distribute to the Plan the amount of such underpayment for credit to the Participants' subaccounts.

Price Errors. (a) In the event adjustments are required to correct any error in the computation of the net asset value of a Fund's shares, the Company or its designee shall notify the Recordkeeper as soon as practicable after discovering the need for those adjustments that result in a reimbursement to an Account in accordance with the Fund's then current policies on reimbursement. Notification may be made via facsimile or via direct or indirect systems access. Any such notification shall be promptly followed by a letter written on the Company's or such designee's letterhead stating for each day for which an error occurred the incorrect price, the correct price, and, to the extent communicated to the Fund's shareholders, the reason for the price change. (b) If an Account received amounts in excess of the amounts to which it otherwise other-wise would have been entitled prior to an adjustment for an error, the Recordkeeper, when requested by the Company or its designee, will use its best efforts to collect the excess amounts from the applicable Plans. (c) If an adjustment is to be made in accordance with subsection 4(a) above to correct an error which has caused an Account to receive an amount less than that to which it is entitled, the Company or its designee shall make all necessary adjustments (within the parameters specified in subsection 4(a)) to the number of shares owned in the Account and distribute to the Plan the amount of such underpayment for credit to the Participants' subaccounts.