Contingency Procedures Clause Samples
The Contingency Procedures clause outlines the steps parties must take if unforeseen events disrupt normal operations or the fulfillment of contractual obligations. Typically, this clause details alternative methods for performance, communication protocols, and responsibilities in the event of emergencies such as natural disasters, system failures, or other force majeure situations. Its core function is to ensure that both parties are prepared to respond effectively to unexpected disruptions, minimizing confusion and mitigating potential losses or delays.
Contingency Procedures. If a hardware, software communication breakdown or any force majeure event (as described in General Terms and Conditions Section 12.7) impedes a party from electronically transmitting or receiving any data by ▇▇▇, such party agrees to do the following as soon as reasonably practicable after discovering such problem: (i) alert the other party’s EDI coordinator for problem determination and resolution, and (ii) communicate all transactions if possible by facsimile transmission or any other commercially reasonable means available.
Contingency Procedures. In the case of any interruptions to the transmission or receipt of Orders through the DV Platform, the Agent will submit Orders to Vanguard in accordance with the contingency procedures set forth in the Contingency Procedures set forth in Exhibit B attached to this Agreement, as in effect from time to time.
Contingency Procedures. In the case of any interruptions to the transmission or receipt of Orders through Fund/SERV, the Intermediary will submit Orders to Vanguard in accordance with the contingency procedures set forth in the DCC&S Operating/Contingency Procedures, as in effect from time to time.
Contingency Procedures. In the event a communication, systems or other failure occurs, and the Company is unable to transmit, or Vanguard is unable to receive, purchase or redemption orders through the normal procedures, the Company agrees to comply with the following contingency procedures.
(a) If the Company will not be able to submit Account orders to Vanguard via facsimile transmission by 8:30 a.m. Eastern time on T+1, the Company shall notify Vanguard’s Daily Valuation Team of the contingency situation by leaving a voice mail message with appropriate contact information at (▇▇▇) ▇▇▇-▇▇▇▇ not later than 8:00 a.m. Eastern time on T+1, and requesting a return call.
(b) When the Sponsor’s Daily Valuation team returns the Company’s call, the Company shall provide the Account orders that cannot be transmitted via facsimile. All such orders shall be aggregated and provided as a net purchase or redemption order by Portfolio. The Company shall also submit such net orders via facsimile to (▇▇▇) ▇▇▇-▇▇▇▇ not later than 12:00 noon, Eastern time, on T+1.
Contingency Procedures. In the case of any interruption in the transmission or receipt of transactions or instructions through Networking which is not the fault of either Party (an “Interruption”), the following procedures will apply:
a. Each Party will immediately notify the other upon becoming aware of any Interruption; and
b. For the duration of any Interruption, the Broker-Dealer will submit transactions and instructions relating to Networking Accounts to the Fund Company in accordance with such contingency procedures as may be established and mutually agreed upon by the Parties.
Contingency Procedures. If the NSCC Fund/SERV system is unavailable for any reason, orders, confirmations, and trade corrections shall be transmitted in accordance with the Fund/SERV contingency procedures set forth in Section J of these Operating Procedures.
Contingency Procedures. In the event that Client experiences technical difficulties in connection with the Service, Client should implement the following procedures: • For Equipment issues, call Bank at the number provided in the General Terms if it provided the Equipment; if not, call the manufacturer. • For Account issues, contact Bank as provided in the General Terms. • For computer, printer, or Internet connectivity issues, contact the computer vendor or Internet provider as appropriate. • In the event that Check Images may not be transmitted through the Service for deposit into the Account, Client should bring the original Checks in person to any one of the branch offices of Bank for deposit. IMAGE CASH LETTER
Contingency Procedures. We will use reasonable efforts to provide Mobile Remote Deposit service in a prompt fashion. The service may be temporarily unavailable from time to time due to system maintenance or technical difficulties, including those of the Internet or Mobile Service Provider, device operating system or software. If this happens, you may deposit your checks though alternative channels, such as Bank by Mail, ATMs, Drive-up Banking, or visiting any office of Pioneer Trust Bank. We are not liable for any technical or other difficulties you may encounter while using Mobile Remote Deposit, or any resulting damages that you may incur.
Contingency Procedures. If the Agent is unable to transmit Orders to Vanguard through the DV Platform, the following procedures shall be followed:
Contingency Procedures. BFS and BQPS shall develop appropriate, mutually agreeable contingency procedures to protect the Plan participants and beneficiaries from any significant investment loss or market exposure attributable to transmission failures.