Accepting and Transmitting Orders Clause Samples

The "Accepting and Transmitting Orders" clause defines the process by which one party receives and forwards orders, typically for goods or financial instruments, on behalf of another party. This clause outlines the responsibilities for accurately recording, confirming, and relaying orders to the appropriate executing entity, and may specify the methods of communication or timing requirements. Its core function is to ensure that orders are handled efficiently and transparently, reducing the risk of errors or misunderstandings in the order process.
Accepting and Transmitting Orders. As provided in Section 1, and in accordance with the procedures set forth below, the Agent will act as the limited agent of Vanguard to receive Instructions from Policy owners corresponding to purchase, redemption and exchange Orders by the Accounts of shares of the VVIF Portfolios.
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Accepting and Transmitting Orders. As provided in Section 1, and in accordance with the procedures set forth below and in the DCC&S Operating/Contingency Procedures, the Intermediary will act as the limited agent of Vanguard to receive Instructions from Policy owners, and other authorized transaction directions from the Accounts, corresponding to purchase, redemption and exchange Orders by the Accounts of shares of the VVIF Portfolios. All such Orders shall be settled with the NSCC, except as otherwise provided in the DCC&S Operating/Contingency Procedures.
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Accepting and Transmitting Orders. As provided in Section 1, and in accordance with the procedures set forth below, the Agent will act as the limited agent of Vanguard to receive Orders by the Plans for purchase, redemption and exchange by the Plans of shares of the Vanguard Funds.
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Accepting and Transmitting Orders. As provided in Section 1, and in accordance with the procedures set forth below and in the DCC&S Operating/Contingency Procedures, the Company will act as the limited agent of Vanguard to receive Instructions from Contract owners corresponding to purchase, redemption and exchange Orders by the Accounts of shares of the Vanguard Funds. All such Orders shall be settled by the NSCC Firm with the NSCC, except as otherwise provided in the DCC&S Operating/Contingency Procedures.
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Accepting and Transmitting Orders. As provided in Section 1, and in accordance with the procedures set forth below and in the DCC&S Operating/Contingency Procedures, the Intermediary will act as the limited agent of Vanguard to receive Instructions from Plan participants and Contract owners that result in Orders by the Separate Accounts for purchase, redemption and exchange by the Separate Accounts of shares of the Vanguard Funds. All such Orders shall be settled with the NSCC, except as otherwise provided in the DCC&S Operating/Contingency Procedures. (i) Receipt by the Intermediary of Participant-Level Transactions. The parties understand and agree that the Intermediary may receive participant-level transactions in various formats, including directions in writing, by computer magnetic tape, diskette or electronic data transmission, through interactive voice response system, or by any other accepted method for transmitting defined contribution plan data that is adopted for the Plans, Contracts and Separate Accounts. All Instruction shall be received and processed by the Intermediary in accordance with its standard transaction processing procedures that apply to all investment options offered through the Separate Accounts under the Contracts and Plans. The Intermediary shall maintain records sufficient to identify the date and time of receipt of all Instructions resulting in Orders for the Vanguard Funds and shall make such records available upon request for examination by Vanguard or its designated representative or, at the request of Vanguard, by appropriate governmental authorities or self-regulatory organizations. Under no circumstances shall the Intermediary change, alter or manipulate any Instructions received by it in good order. (ii) Transmission by the Intermediary of Orders. Based on the Instructions and other authorized transactions from the Separate Accounts received by the Intermediary prior to Market Close on each Business Day, the Intermediary shall transmit to Vanguard via Fund/SERV by the time of receipt of Cycle 7 from the NSCC on the following Business Day (approximately 7:00 a.m. Eastern time) a file containing the Order, in dollars or shares, by each Separate Account (or in the aggregate for all Separate Accounts if the parties have agreed in advance) for shares of each Vanguard Fund for the preceding Business Day. Each transmission by the Intermediary of a net purchase or redemption Order shall constitute a representation by the Intermediary that such order was based s...
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Related to Accepting and Transmitting Orders

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