Common use of Restatement of NAV Clause in Contracts

Restatement of NAV. (i) If there has been a misstatement of NAV of the Fund on any Valuation Date, Mellon shall restate the Fund's NAV and/or reconcile participating shareholder accounts in accordance with the Trust's procedures for correcting fund pricing errors as set forth in Appendix D or otherwise agreed in writing between the parties, a true and correct copy of which has been provided to Mellon. Such procedures may be amended from time to time as agreed upon by Mellon and the Trust. (ii) In the event of a purchase of Shares of a Fund by a shareholder associated with a misstated NAV and in the event that participating shareholder accounts are to be corrected pursuant to the procedures described in subsection e(i) above, each affected shareholder's account shall be corrected by effecting a purchase or sale of Shares, as appropriate, of the Fund using the corrected NAV and the dollar amount equal to the dollar amount associated with the purchase or sale of shares, as appropriate, at the misstated NAV. If there are insufficient Shares of the Fund for a participating shareholder to enable any such corrected sale transaction to be effected, the Fund shall cause the participating shareholder to repay to the Fund any such amount distributed to or otherwise transferred for the benefit of each affected participating shareholder in excess of the amount to which the participating shareholder was entitled had the sale proceeds been determined at the corrected NAV. (iii) The cost of making corrections to the NAV of the Fund and/or shareholder accounts shall not be borne by Mellon except to the extent that Mellon has been negligent in the performance of its duties under this Agreement.

Restatement of NAV. (i) If there has been a misstatement of NAV of the a Fund on any Valuation Date, Mellon shall restate the such Fund's NAV and/or reconcile participating shareholder accounts in accordance with the Trust's procedures for correcting fund pricing errors as set forth in Appendix D or otherwise agreed in writing between the partieserrors, a true and correct copy of which has been provided to Mellon. Such procedures may be amended from time to time as agreed upon by Mellon and the Trust. (ii) In the event of a purchase of Shares of a Fund by a shareholder associated with a misstated NAV and in the event that participating shareholder accounts are to be corrected pursuant to the procedures described in subsection e(ie(1) above, each affected shareholder's account shall be corrected by effecting a purchase or sale of Shares, as appropriate, of the relevant Fund using the corrected NAV and the dollar amount equal to the dollar amount associated with the purchase or sale of shares, as appropriate, at the misstated NAV. If there are insufficient Shares of the such Fund for a participating shareholder to enable any such corrected sale transaction to be effected, the Fund shall cause the participating shareholder to repay to the such Fund any such amount distributed to or otherwise transferred for the benefit of each affected participating shareholder in excess of the amount to which the participating shareholder was entitled had the sale proceeds been determined at the corrected NAV. (iii) The cost of making corrections to the NAV of the a Fund and/or shareholder accounts shall not be borne by Mellon except to the extent that Mellon has been negligent in the performance of its duties under this Agreement.