Order Processing. (a) All orders will be processed pursuant to the NSCC Agreement. Janus Services will accept trades not submitted via the NSCC Systems on an exception-only basis in accordance with the following terms: On any business day ("Day One"), the Service Provider may accept orders from Customers for the purchase and redemption of Shares of the Funds. The Service Provider will send such orders to Janus Services prior to 10:00 a.m. Eastern Time of the next business day ("Day Two") pursuant to the Trading Requirements listed on Exhibit C. The Funds will execute orders at the net asset values as determined as of the close of trading on Day One, and dividends, if applicable, shall begin to accrue on Day Two, provided that: (i) Service Provider received such orders prior to the time the NAVs of the Shares of the Funds were calculated on Day One, and (ii) Such orders and payment for such orders were received by Janus Services prior to the times set forth in Exhibit C. If either of the above conditions is not met, the orders will be executed at the public offering price next in effect after such orders are received, and dividends, if applicable, will begin to accrue the day after settlement. (b) Payment for net purchases and redemptions will be wired pursuant to the NSCC Agreement, or pursuant to the Settlement Requirements outlined in Exhibit C for trades not submitted via the NSCC Systems. In the event of extraordinary market conditions affecting any such redemption, however, Janus Services may delay such redemption for up to five business days, or longer to the extent permitted under Section 22(e) of the 1940 Act. (c) Janus Services will provide to the Service Provider closing NAVs, dividends, and capital gains information at the close of trading each business day. Dividends and capital gains distributions shall be reinvested in accordance with the terms of the Prospectus. (d) Notwithstanding any agreement between the parties to the contrary, Janus Services will accept Customer-level accounts provided that all trades are processed through the NSCC Systems. Service Provider's failure to use the NSCC Systems for all processing for and maintenance of Customer-level accounts may result in Janus Services permitting only one omnibus account in the Service Provider's name. Service Provider shall open each new account by submitting an application to Janus Services prior to placing any order for or funding any such account. The form of such application shall be provided to Service Provider by Janus Services. (e) Service Provider will collect all applicable contingent deferred sales charges in accordance with the terms of the then-current Prospectus and will forward all such contingent deferred sales charges to Janus Distributors on a monthly basis or Service Provider will establish all accounts as Matrix Level 1 accounts to enable Janus Distributors to waive contingent deferred sales charges on distributions to such accounts in accordance with the terms of the then-current Prospectus. (f) All orders accepted by Service Provider shall be subject to the terms of the then-current Prospectus of each Fund, including without limitation, policies regarding minimum initial investments, market timing and excessive trading. Service Provider shall use its best efforts, and shall reasonably cooperate with Janus Services, to enforce stated Prospectus policies regarding transactions in Shares, particularly those related to market timing. Service Provider acknowledges that orders accepted by it in violation of the Trust's stated policies may be subsequently revoked or cancelled by Janus Services and that Janus Services shall not be responsible for any losses incurred by Service Provider or any Customer as a result of such cancellation. Janus Services or its agent shall notify Service Provider of any such cancellation prior to 12:00 p.m. Eastern Time on Day Two. (g) Service Provider acknowledges that Janus Services has the right to refuse any purchase order for any reason, particularly if the Trust determines that a Fund would be unable to invest the money effectively in accordance with its investment policies or would otherwise be adversely affected due to the size of the transaction, frequency of trading by the account or other factors.
Appears in 3 contracts
Sources: Distribution Agreement (Janus Adviser), Distribution Agreement (Janus Adviser), Distribution Agreement (Janus Adviser Series)
Order Processing. (a) All orders Orders will generally be processed pursuant to the NSCC Agreement. Janus Services will accept trades not submitted via the NSCC Systems on an exception-only basis in accordance with the following terms: On any business day ("Day One"), the Service Provider may accept orders from Customers for the purchase and redemption of Shares of the Funds. The Service Provider will send such orders to Janus Services prior to 10:00 9:00 a.m. Eastern Time of the next business day ("Day Two") pursuant to the Trading Requirements listed on Exhibit C. The Funds will execute orders at the net asset values as determined as of the close of trading on Day One, and dividends, if applicable, shall begin to accrue on Day Two, provided that:
(i) Service Provider received such orders prior to the time the NAVs of the Shares of the Funds were calculated on Day One, and
(ii) Such orders and payment for such orders were received by Janus Services prior to the times set forth in Exhibit C. If either of the above conditions is not met, the orders will be executed at the public offering price next in effect after such orders are received, and dividends, if applicable, will begin to accrue the day after settlement.
(b) Payment for net purchases and redemptions will be wired pursuant to the NSCC Agreement, or pursuant to the Settlement Requirements outlined in Exhibit C for trades not submitted via the NSCC Systems. In the event of extraordinary market conditions affecting any such redemption, however, Janus Services may delay such redemption for up to five business days, or longer to the extent permitted under Section 22(e) of the 1940 Act.
(c) Janus Services will provide to the Service Provider closing NAVs, dividends, and capital gains information at the close of trading each business day. Dividends and capital gains distributions shall be reinvested in accordance with the terms of the Prospectus.
(d) Notwithstanding any agreement between the parties to the contrary, Janus Services will accept Customer-level accounts provided that all trades are processed through the NSCC Systems. Service Provider's failure to use the NSCC Systems for all processing for and maintenance of Customer-level accounts may result in Janus Services permitting only one omnibus account in the Service Provider's name. Service Provider shall open each new account by submitting an application to Janus Services prior to placing any order for or funding any such account. The form of such application shall be provided to Service Provider by Janus Services.
(e) Service Provider will collect all applicable contingent deferred sales charges in accordance with the terms of the then-current Prospectus and will forward all such contingent deferred sales charges to Janus Distributors on a monthly basis or Service Provider will establish all accounts as Matrix Level 1 accounts to enable Janus Distributors to waive contingent deferred sales charges on distributions to such accounts in accordance with the terms of the then-current Prospectus.
(f) All orders accepted by Service Provider shall be subject to the terms of the then-current Prospectus of each Fund, including without limitation, policies regarding minimum initial investments, market timing timing, redemption fees and excessive trading. Service Provider shall use its best efforts, and shall reasonably cooperate with Janus Services, to enforce stated Prospectus policies regarding transactions in Shares, particularly those related to market timing. Service Provider acknowledges that orders accepted by it in violation of the Trust's stated policies may be subsequently revoked or cancelled by Janus Services and that Janus Services shall not be responsible for any losses incurred by Service Provider or any Customer as a result of such cancellation. Janus Services or its agent shall notify Service Provider of any such cancellation prior to 12:00 p.m. Eastern Time on Day Two.
(g) Service Provider acknowledges that Janus Services has the right to refuse any purchase order for any reason, particularly if the Trust determines that a Fund would be unable to invest the money effectively in accordance with its investment policies or would otherwise be adversely affected due to the size of the transaction, frequency of trading by the account or other factors.
(h) Service Provider acknowledges its obligation to accurately record and track each Customer's investments in Shares, and to at all times ensure that each Customer is charged the correct sales load or contingent deferred sales load as calculated in accordance with the sales load schedule applicable to each Class of Shares, taking into account any breakpoints, rights of accumulation, letter of intent or other modification in such schedule as described in a Fund's then current Prospectus or otherwise agreed with such Customer with respect to such Shares.
Appears in 2 contracts
Sources: Distribution Agreement (Janus Adviser), Distribution Agreement (Janus Adviser)
Order Processing. (a) All Service Provider agrees to act as Janus Services' agent for the limited purpose of accepting orders for the purchase and redemption of Shares of the Funds under this Agreement. Service Provider will not act in a principal capacity or as a principal underwriter to the Funds as defined in the 1940 Act.
(b) Orders will generally be processed pursuant to the NSCC Agreement. Janus Services will accept trades not submitted via the NSCC Systems on an exception-only basis in accordance with the following terms: On any business day ("Day One"), the Service Provider may accept orders from Customers for the purchase and redemption of Shares of the Funds. The Service Provider will send such orders to Janus Services prior to 10:00 9:00 a.m. Eastern Time of the next business day ("Day Two") pursuant to the Trading Requirements listed on Exhibit C. The Funds will execute orders at the net asset values as determined as of the close of trading on Day One, and dividends, if applicable, shall begin to accrue on Day Two, provided that:
(i) Service Provider received such orders prior to the time the NAVs of the Shares of the Funds were calculated on Day One, and
(ii) Such orders and payment for such orders were received by Janus Services prior to the times set forth in Exhibit C. If either of the above conditions is not met, the orders will be executed at the public offering price next in effect after such orders are received, and dividends, if applicable, will begin to accrue the day after settlement.
(bc) Payment for net purchases and redemptions will be wired pursuant to the NSCC Agreement, or pursuant to the Settlement Requirements outlined in Exhibit C for trades not submitted via the NSCC Systems. In the event of extraordinary market conditions affecting any such redemption, however, Janus Services may delay such redemption for up to five business days, or longer to the extent permitted under Section 22(e) of the 1940 Act.
(cd) Janus Services will provide to the Service Provider closing NAVs, dividends, and capital gains information at the close of trading each business day. Dividends and capital gains distributions shall be reinvested in accordance with the terms of the Prospectus.
(de) Notwithstanding any agreement between the parties to the contrary, Janus Services will accept Customer-level accounts provided that all trades are processed through the NSCC Systems. Service Provider's failure to use the NSCC Systems for all processing for and maintenance of Customer-level accounts may result in Janus Services permitting only one omnibus account in the Service Provider's name. Service Provider shall open each new account by submitting an application to Janus Services prior to placing any order for or funding any such account. The form of such application shall be provided to Service Provider by Janus Services.
(e) Service Provider will collect all applicable contingent deferred sales charges in accordance with the terms of the then-current Prospectus and will forward all such contingent deferred sales charges to Janus Distributors on a monthly basis or Service Provider will establish all accounts as Matrix Level 1 accounts to enable Janus Distributors to waive contingent deferred sales charges on distributions to such accounts in accordance with the terms of the then-current Prospectus.
(f) All orders accepted by Service Provider shall be subject to the terms of the then-current Prospectus of each Fund, including without limitation, policies regarding minimum initial investments, market timing timing, excessive trading and excessive tradingredemption fees. Service Provider shall use its best efforts, and shall reasonably cooperate with Janus Services, to enforce stated Prospectus policies regarding transactions in Shares, particularly those related to market timing. Service Provider acknowledges that orders accepted by it in violation of the Trust's Trusts' stated policies may be subsequently revoked or cancelled by Janus Services and that Janus Services shall not be responsible for any losses incurred by Service Provider or any Customer as a result of such cancellation. Janus Services or its agent shall notify Service Provider of any such cancellation prior to 12:00 p.m. Eastern Time on Day Two.
(g) Service Provider acknowledges that Janus Services has the right to refuse any purchase order for any reason, particularly if the Trust determines Trusts determine that a Fund would be unable to invest the money effectively in accordance with its investment policies or would otherwise be adversely affected due to the size of the transaction, frequency of trading by the account or other factors.
(h) Service Provider agrees that it: (i) shall assume responsibility for any loss to the Fund caused by a correction to any order placed by Service Provider that is made subsequent to the trade date for the order, provided such order correction was not based on any negligence on Distributor's part; and (ii) will immediately pay such loss to the Fund upon notification.
(i) With respect to net asset value information, Janus Services shall make the determination as to whether an error in the net asset value has occurred and is a material error, as defined in current SEC guidelines, and Janus Services shall control its correction of such error in accordance with SEC guidelines and its own internal policies. In no event shall delays in providing prices due to conditions beyond the control of Janus Services or the Trusts, such as Acts of God, fires, electrical or phone outages, be considered pricing errors and neither Janus Services nor the Trusts shall be required to reimburse for such delays. Janus Services shall use the same standards with respect to share prices for the Service Provider as for all other shareholders in the Funds.
Appears in 1 contract
Order Processing. (a) All Service Provider agrees to act as Janus Services' agent for the limited purpose of accepting orders for the purchase and redemption of Shares of the Funds under this Agreement. Service Provider will not act in a principal capacity or as a principal underwriter to the Funds as defined in the 1940 Act.
(b) Orders will generally be processed pursuant to the NSCC Agreement. Janus Services will accept trades not submitted via the NSCC Systems on an exception-only basis in accordance with the following terms: On any business day ("Day One"), the Service Provider may accept orders from Customers for the purchase and redemption of Shares of the Funds. The Service Provider will send such orders to Janus Services prior to 10:00 9:00 a.m. Eastern Time of the next business day ("Day Two") pursuant to the Trading Requirements listed on Exhibit C. The Funds will execute orders at the net asset values as determined as of the close of trading on Day One, and dividends, if applicable, shall begin to accrue on Day Two, provided that:
(i) Service Provider received such orders prior to the time the NAVs of the Shares of the Funds were calculated on Day One, and
(ii) Such orders and payment for such orders were received by Janus Services prior to the times set forth in Exhibit C. If either of the above conditions is not met, the orders will be executed at the public offering price next in effect after such orders are received, and dividends, if applicable, will begin to accrue the day after settlement.
(bc) Payment for net purchases and redemptions will be wired pursuant to the NSCC Agreement, or pursuant to the Settlement Requirements outlined in Exhibit C for trades not submitted via the NSCC Systems. In the event of extraordinary market conditions affecting any such redemption, however, Janus Services may delay such redemption for up to five business days, or longer to the extent permitted under Section 22(e) of the 1940 Act.
(cd) Janus Services will provide to the Service Provider closing NAVs, dividends, and capital gains information at the close of trading each business day. Dividends and capital gains distributions shall be reinvested in accordance with the terms of the Prospectus.
(de) Notwithstanding any agreement between the parties to the contrary, Janus Services will accept Customer-level accounts provided that all trades are processed through the NSCC Systems. Service Provider's failure to use the NSCC Systems for all processing for and maintenance of Customer-level accounts may result in Janus Services permitting only one omnibus account in the Service Provider's name. Service Provider shall open each new account by submitting an application to Janus Services prior to placing any order for or funding any such account. The form of such application shall be provided to Service Provider by Janus Services.
(ef) Service Provider will collect all applicable contingent deferred sales charges in accordance with the terms of the then-current Prospectus and will forward all such contingent deferred sales charges to Janus Distributors on a monthly basis or Service Provider will establish all accounts in such a manner so as Matrix Level 1 accounts to enable Janus Distributors to waive contingent deferred sales charges on distributions to such accounts in accordance with the terms of the then-current Prospectus, including without limitation, dividends and cash distributions. [IN ADDITION, SERVICE PROVIDER AND DISTRIBUTOR MUTUALLY AGREE TO WAIVE ALL CONTINGENT DEFERRED SALES CHARGES FOR PARTICIPANT-DIRECTED RETIREMENT PLANS.] [INCLUDE FOR PLAN KS ONLY]
(fg) All orders accepted by Service Provider shall be subject to the terms of the then-current Prospectus of each Fund, including without limitation, policies regarding minimum initial investments, market timing timing, excessive trading and excessive tradingredemption fees. Service Provider shall use its best efforts, and shall reasonably cooperate with Janus Services, to enforce stated Prospectus policies regarding transactions in Shares, particularly those related to market timing. Service Provider acknowledges that orders accepted by it in violation of the Trust's Trusts' stated policies may be subsequently revoked or cancelled by Janus Services and that Janus Services shall not be responsible for any losses incurred by Service Provider or any Customer as a result of such cancellation. Janus Services or its agent shall notify Service Provider of any such cancellation prior to 12:00 p.m. Eastern Time on Day Two.
(gh) Service Provider acknowledges that Janus Services has the right to refuse any purchase order for any reason, particularly if the Trust determines Trusts determine that a Fund would be unable to invest the money effectively in accordance with its investment policies or would otherwise be adversely affected due to the size of the transaction, frequency of trading by the account or other factors.
(i) Service Provider acknowledges its obligation to record and track each Customer's investments in Shares, and to at all times ensure that each Customer is charged the correct sales load or contingent deferred sales load as calculated in accordance with the sales load schedule applicable to each class of Shares, taking into account any breakpoints, rights of accumulation, letter of intent or other modification in such schedule as described in a Fund's then current Prospectus or otherwise agreed with such Customer with respect to any Shares (individually or collectively, "Discounts"). Without limiting the foregoing, Service Provider acknowledges its obligation to (i) review and understand the Discounts; (ii) obtain all necessary information from its Customers necessary to allow Service Provider to provide any available Discounts; (iii) inform its Customers of the opportunities for Discounts and inquire of its Customers with respect to the existence of other qualifying holdings that might entitle them to any Discounts; (iv) correctly process orders so that Customers receive any applicable Discounts; and (v) maintain adequate written supervisory procedures, supervisory controls, and exception reports with respect to compliance with Discounts. Service Provider shall, if requested by the Distributor, give the Distributor reasonable access to data that will enable the Distributor to determine whether any Discounts were properly applied.
(j) Service Provider acknowledges its obligation to each of its Customers to make an appropriate determination or recommendation as to the suitability of a particular share class for a particular Customer, and shall comply with such suitability obligations in connection with any purchase of Shares by its Customers.
(k) Service Provider agrees that it: (i) shall assume responsibility for any loss to the Fund caused by a correction to any order placed by Service Provider that is made subsequent to the trade date for the order, provided such order correction was not based on any negligence on Distributor's part; and (ii) will immediately pay such loss to the Fund upon notification.
(l) With respect to net asset value information, Janus Services shall make the determination as to whether an error in the net asset value has occurred and is a material error, as defined in current SEC guidelines, and Janus Services shall control its correction of such error in accordance with SEC guidelines and its own internal policies. In no event shall delays in providing prices due to conditions beyond the control of Janus Services or the Trusts, such as Acts of God, fires, electrical or phone outages, be considered pricing errors and neither Janus Services nor the Trusts shall be required to reimburse for such delays. Janus Services shall use the same standards with respect to share prices for the Service Provider as for all other shareholders in the Funds.
Appears in 1 contract
Order Processing. (a) All [SELECT ALTERNATIVE A OR B]
A. [Janus Service shall accept purchase and redemption orders will be processed pursuant to from the NSCC Agreement. Janus Services will accept trades not submitted via the NSCC Systems on an exception-only basis Service Provider in accordance with the following terms: terms of the prospectus for the Shares of the Funds.]
B. [On any business day ("Day One"), the Service Provider may accept orders from Customers Plans for the purchase and redemption of Shares of the Funds. The Service Provider will send such orders to Janus Services Service prior to 10:00 a.m. Eastern Time EST of the next business day ("Day Two") pursuant to the Trading Requirements listed on Exhibit C. The Funds will execute orders at the net asset values as determined as of the close of trading on Day One, and dividends, if applicable, shall begin to accrue on Day Two, provided that:
(ia) Service Provider received such orders prior to the time the NAVs net asset values of the Shares of the Funds were calculated priced in accordance with their prospectus on Day One, and
(iib) Such orders and payment for such orders were received by Janus Services Service prior to the times set forth in Exhibit C. If either of the above conditions is not met, the orders will be executed at the public offering price net asset values next in effect after such orders are received, received and dividends, if applicable, will begin to accrue the day after settlement.
(b) . Payment for net purchases and redemptions will be wired pursuant to the NSCC Agreement, or pursuant to the Settlement Requirements outlined in Exhibit C for trades not submitted via the NSCC Systems. In C; provided, however, that in the event of extraordinary market conditions affecting any such redemption, however, Janus Services Service may delay such redemption for up to five business days, or longer to the extent permitted under Section 22(e) of the 1940 Act.
(c) . Janus Services Service will provide to the Service Provider closing NAVsnet asset values, dividends, and capital gains information at the close of trading each business day. Dividends and capital gains distributions shall be reinvested in accordance with the terms of the Prospectusprospectus.
] Janus Service will recognize one omnibus account in the Service Provider's name in each of the Funds, and will not maintain separate accounts for individual Plans or Plan Participants. If, however, Service Provider utilizes full functionality on the National Securities Clearing Corporation Fund/SERV system (d) Notwithstanding any agreement between the parties to the contrary"Fund/SERV"), Janus Services Service will accept Customer-Plan or Plan Participant level accounts provided that such accounts are established and all trades are processed through the NSCC SystemsFund/SERV. Service Provider's failure to use the NSCC Systems Fund/SERV for all processing for and maintenance of Customer-Plan or Plan Participant level accounts may result in Janus Services Service permitting only one omnibus account in the Service Provider's name. Service Provider shall open each new account by submitting an application to Janus Services prior to placing any order for or funding any such account. The form of such application shall be provided to Service Provider by Janus Services.
(e) Service Provider will collect all applicable contingent deferred sales charges in accordance with the terms of the then-current Prospectus and will forward all such contingent deferred sales charges to Janus Distributors on a monthly basis or Service Provider will establish all accounts as Matrix Level 1 accounts to enable Janus Distributors to waive contingent deferred sales charges on distributions to such accounts in accordance with the terms of the then-current Prospectus.
(f) All orders accepted by Service Provider shall be subject to the terms of the then-current Prospectus of each Fund, including without limitation, policies regarding minimum initial investments, market timing and excessive trading. Service Provider shall use its best efforts, and shall reasonably cooperate with Janus Services, to enforce stated Prospectus policies regarding transactions in Shares, particularly those related to market timing. Service Provider acknowledges that orders accepted by it in violation of the Trust's stated policies may be subsequently revoked or cancelled by Janus Services and that Janus Services shall not be responsible for any losses incurred by Service Provider or any Customer as a result of such cancellation. Janus Services or its agent shall notify Service Provider of any such cancellation prior to 12:00 p.m. Eastern Time on Day Two.
(g) Service Provider acknowledges that Janus Services has the right to refuse any purchase order for any reason, particularly if the Trust determines that a Fund would be unable to invest the money effectively in accordance with its investment policies or would otherwise be adversely affected due to the size of the transaction, frequency of trading by the account or other factors.
Appears in 1 contract
Order Processing. (a) All orders will be processed pursuant to the NSCC Agreement. Janus Services will accept trades not submitted via the NSCC Systems on an exception-only basis in accordance with the following terms: On any business day ("“Day One"”), the Service Provider may accept orders from Customers Contract Owners for the purchase and redemption of Shares of the Funds. The Service Provider will send such orders to Janus Services prior to 10:00 9:00 a.m. Eastern Time EST of the next business day ("“Day Two"”) pursuant to the Trading Requirements listed on Exhibit C. Notwithstanding the foregoing sentence, Service Provider will send such orders to Janus Services prior to 8:00 a.m. Eastern Time of Day Two pursuant to the Trading Requirements listed in Exhibit C for all Funds sub-advised by Enhanced Investment Technologies, LLC (“INTECH”) as identified in the then-current Prospectus for each Fund. The Funds will execute orders at the net asset values NAVs as determined as of the close of trading on Day One, and dividends, if applicable, shall begin to accrue on Day Two, provided that:
(i) Service Provider received such orders prior to the time the NAVs net asset values (“NAVs”) of the Shares of the Funds were calculated priced in accordance with their Prospectus on Day One, and
(ii) Such orders and payment for such orders were received by Janus Services prior to the times set forth in Exhibit C. If either of the above conditions is not met, the orders will be executed at the public offering price NAVs next in effect after such orders are received, received and dividends, if applicable, will begin to accrue the day after settlement.
(b) Payment for net purchases and redemptions will be wired pursuant to the NSCC Agreement, or pursuant to the Settlement Requirements outlined in Exhibit C for trades not submitted via the NSCC Systems. In the event of extraordinary market conditions affecting any such redemption, however, Janus Services may delay such redemption for up to five business days, or longer to the extent permitted under Section 22(e) of the 1940 Act.
(c) Janus Services will use its best efforts to provide to the Service Provider closing NAVs, dividends, and capital gains information at as of the close of trading each business dayday by 6:30 p.m. Eastern Time, and in any event, as soon as reasonably practicable after is determined. Dividends and capital gains distributions shall be reinvested in accordance with the terms of the Prospectus, unless Service Provider notifies Janus Services in writing that such dividends and capital gains are to be paid in cash.
(d) Notwithstanding any agreement between the parties to the contrary, Janus Services will accept Customer-Contract Owner level accounts provided that all trades for such accounts are processed through the NSCC Systems. Service Provider's ’s failure to use the NSCC Systems for all processing for and maintenance of Customer-level accounts the Separate Accounts may result in Janus Services permitting only one omnibus account in the Service Provider's ’s name. Service Provider shall open each new account by submitting an application to Janus Services prior to placing any order for or funding any such account. The form of such application shall be provided to Service Provider by Janus Services.
(e) Service Provider will collect all applicable contingent deferred sales charges in accordance with the terms of the then-current Prospectus and will forward all such contingent deferred sales charges to Janus Distributors on a monthly basis or Service Provider will establish all accounts as Matrix Level 1 accounts to enable Janus Distributors to waive contingent deferred sales charges on distributions to such accounts in accordance with the terms of the then-current Prospectus.
(f) All orders accepted by Service Provider shall be subject to the terms of the then-current Prospectus of each Fund, including without limitation, policies regarding minimum initial investmentsaccount sizes, redemption fees, market timing and excessive trading. Service Provider shall use its best efforts, and shall reasonably cooperate with Janus Services, to enforce stated Prospectus policies regarding transactions in Shares, particularly those related to market timing. Service Provider acknowledges that orders accepted by it in violation of the Trust's ’s stated policies may be subsequently revoked or cancelled by Janus Services and that Janus Services shall not be responsible for any losses incurred by Service Provider or any Customer Contract Owner as a result of such cancellation. Janus Services or its agent shall notify Service Provider of any such cancellation prior to 12:00 p.m. Eastern Time EST on Day Two.
(gf) Service Provider acknowledges that Janus Services has the right to refuse any purchase order for any reason, particularly if the Trust determines that a Fund would be unable to invest the money effectively in accordance with its investment policies or would otherwise be adversely affected due to the size of the transaction, frequency of trading by the account or other factors.
(g) Service Provider agrees that it: (i) shall assume responsibility for any loss to the Fund caused by a correction to any order placed by Service Provider that is made subsequent to the trade date for the order, provided such order correction was not based on any negligence on the part of Janus Services or its affiliates; and (ii) will immediately pay such loss to the Fund upon notification.
(h) Any material error in the calculation of the NAV, dividend or capital gain information shall be reported promptly to Service Provider upon discovery. In the event that any such material error is the result of the gross negligence of Janus Services, or its designated agent for calculating the NAV, any administrative or other costs or losses incurred for correcting Contract Owner’s accounts shall be at the expense of Janus Services. With respect to NAV information, Janus Services shall make the determination as to whether an error in the NAV has occurred and is a material error, as defined in current SEC guidelines, and Janus Services shall control its correction of such error on the Fund’s books in accordance with SEC guidelines and its own internal policies. In no event shall delays in providing prices due to conditions beyond the control of Janus Services or the Trust, such as acts of God, fires, electrical or phone outages, be considered pricing errors and neither Janus Services nor the Trust shall be required to reimburse for such delays. Janus Services shall use the same standards with respect to share prices for the Service Provider as for all other shareholders in the Funds.
Appears in 1 contract
Sources: Participant Administrative Services Agreement (SBL Variable Annuity Account Xiv)
Order Processing. (a) All Service Provider agrees to act as Janus Services' agent for the limited purpose of accepting orders for the purchase and redemption of Shares of the Funds under this Agreement. Service Provider will not act in a principal capacity or as a principal underwriter to the Funds as defined in the 1940 Act.
(b) Orders will generally be processed pursuant to the NSCC Agreement. Janus Services will accept trades not submitted via the NSCC Systems on an exception-only basis in accordance with the following terms: On any business day ("Day One"), the Service Provider may accept orders from Customers for the purchase and redemption of Shares of the Funds. The Service Provider will send such orders to Janus Services prior to 10:00 9:00 a.m. Eastern Time of the next business day ("Day Two") pursuant to the Trading Requirements listed on Exhibit C. The Funds will execute orders at the net asset values as determined as of the close of trading on Day One, and dividends, if applicable, shall begin to accrue on Day Two, provided that:
(i) Service Provider received such orders prior to the time the NAVs of the Shares of the Funds were calculated on Day One, and
(ii) Such orders and payment for such orders were received by Janus Services prior to the times set forth in Exhibit C. If either of the above conditions is not met, the orders will be executed at the public offering price next in effect after such orders are received, and dividends, if applicable, will begin to accrue the day after settlement.
(bc) Payment for net purchases and redemptions will be wired pursuant to the NSCC Agreement, or pursuant to the Settlement Requirements outlined in Exhibit C for trades not submitted via the NSCC Systems. In the event of extraordinary market conditions affecting any such redemption, however, Janus Services may delay such redemption for up to five business days, or longer to the extent permitted under Section 22(e) of the 1940 Act.
(cd) Janus Services will provide to the Service Provider closing NAVs, dividends, and capital gains information at the close of trading each business day. Dividends and capital gains distributions shall be reinvested in accordance with the terms of the Prospectus.
(de) Notwithstanding any agreement between the parties to the contrary, Janus Services will accept Customer-level accounts provided that all trades are processed through the NSCC Systems. Service Provider's failure to use the NSCC Systems for all processing for and maintenance of Customer-level accounts may result in Janus Services permitting only one omnibus account in the Service Provider's name. Service Provider shall open each new account by submitting an application to Janus Services prior to placing any order for or funding any such account. The form of such application shall be provided to Service Provider by Janus Services.
(ef) Service Provider will collect all applicable contingent deferred sales charges in accordance with the terms of the then-current Prospectus and will forward all such contingent deferred sales charges to Janus Distributors on a monthly basis or Service Provider will establish all accounts in such a manner so as Matrix Level 1 accounts to enable Janus Distributors to waive contingent deferred sales charges on distributions to such accounts in accordance with the terms of the then-current Prospectus, including without limitation, dividends and cash distributions. In addition, Service Provider and Distributor mutually agree to waive all contingent deferred sales charges for participant-directed retirement plans.
(fg) All orders accepted by Service Provider shall be subject to the terms of the then-current Prospectus of each Fund, including without limitation, policies regarding minimum initial investments, market timing timing, excessive trading and excessive tradingredemption fees. Service Provider shall use its best efforts, and shall reasonably cooperate with Janus Services, to enforce stated Prospectus policies regarding transactions in Shares, particularly those related to market timing. Service Provider acknowledges that orders accepted by it in violation of the Trust's stated policies may be subsequently revoked or cancelled by Janus Services and that Janus Services shall not be responsible for any losses incurred by Service Provider or any Customer as a result of such cancellation. Janus Services or its agent shall notify Service Provider of any such cancellation prior to 12:00 p.m. Eastern Time on Day Two.
(gh) Service Provider acknowledges that Janus Services has the right to refuse any purchase order for any reason, particularly if the Trust determines that a Fund would be unable to invest the money effectively in accordance with its investment policies or would otherwise be adversely affected due to the size of the transaction, frequency of trading by the account or other factors.
(i) Service Provider agrees that it: (i) shall assume responsibility for any loss to the Fund caused by a correction to any order placed by Service Provider that is made subsequent to the trade date for the order, provided such order correction was not based on any negligence on Distributor's part; and (ii) will immediately pay such loss to the Fund upon notification.
(j) With respect to net asset value information, Janus Services shall make the determination as to whether an error in the net asset value has occurred and is a material error, as defined in current SEC guidelines, and Janus Services shall control its correction of such error in accordance with SEC guidelines and its own internal policies. In no event shall delays in providing prices due to conditions beyond the control of Janus Services or the Trust, such as Acts of God, fires, electrical or phone outages, be considered pricing errors and neither Janus Services nor the Trust shall be required to reimburse for such delays. Janus Services shall use the same standards with respect to share prices for the Service Provider as for all other shareholders in the Funds.
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Order Processing. (a) All orders will be processed pursuant to the NSCC Agreement. Janus Services will accept trades not submitted via the NSCC Systems on an exception-only basis in accordance with the following terms: On any business day ("Day One"), the Service Provider may accept orders from Customers Contract Owners for the purchase and redemption of Shares of the Funds. The Service Provider will send such orders to Janus Services prior to 10:00 9:00 a.m. Eastern Time EST of the next business day ("Day Two") pursuant to the Trading Requirements listed on Exhibit C. Notwithstanding the foregoing sentence, Service Provider will send such orders to Janus Services prior to 8:00 a.m. Eastern Time of Day Two pursuant to the Trading Requirements listed in Exhibit C for all Funds sub-advised by Enhanced Investment Technologies, LLC (“INTECH”) as identified in the then-current Prospectus for each Fund. The Funds will execute orders at the net asset values NAVs as determined as of the close of trading on Day One, and dividends, if applicable, shall begin to accrue on Day Two, provided that:
(i) Service Provider received such orders prior to the time the NAVs net asset values (“NAVs”) of the Shares of the Funds were calculated priced in accordance with their Prospectus on Day One, and
(ii) Such orders and payment for such orders were received by Janus Services prior to the times set forth in Exhibit C. If either of the above conditions is not met, the orders will be executed at the public offering price NAVs next in effect after such orders are received, received and dividends, if applicable, will begin to accrue the day after settlement.
(b) Payment for net purchases and redemptions will be wired pursuant to the NSCC Agreement, or pursuant to the Settlement Requirements outlined in Exhibit C for trades not submitted via the NSCC Systems. In the event of extraordinary market conditions affecting any such redemption, however, Janus Services may delay such redemption for up to five business days, or longer to the extent permitted under Section 22(e) of the 1940 Act.
(c) Janus Services will use its best efforts to provide to the Service Provider closing NAVs, dividends, and capital gains information at as of the close of trading each business dayday by 6:30 p.m. Eastern Time, and in any event, as soon as reasonably practicable after is determined. Dividends and capital gains distributions shall be reinvested in accordance with the terms of the Prospectus, unless Service Provider notifies Janus Services in writing that such dividends and capital gains are to be paid in cash.
(d) Notwithstanding any agreement between the parties to the contrary, Janus Services will accept Customer-Contract Owner level accounts provided that all trades for such accounts are processed through the NSCC Systems. Service Provider's failure to use the NSCC Systems for all processing for and maintenance of Customer-level accounts the Separate Accounts may result in Janus Services permitting only one omnibus account in the Service Provider's name. Service Provider shall open each new account by submitting an application to Janus Services prior to placing any order for or funding any such account. The form of such application shall be provided to Service Provider by Janus Services.
(e) Service Provider will collect all applicable contingent deferred sales charges in accordance with the terms of the then-current Prospectus and will forward all such contingent deferred sales charges to Janus Distributors on a monthly basis or Service Provider will establish all accounts as Matrix Level 1 accounts to enable Janus Distributors to waive contingent deferred sales charges on distributions to such accounts in accordance with the terms of the then-current Prospectus.
(f) All orders accepted by Service Provider shall be subject to the terms of the then-current Prospectus of each Fund, including without limitation, policies regarding minimum initial investmentsaccount sizes, redemption fees, market timing and excessive trading. Service Provider shall use its best efforts, and shall reasonably cooperate with Janus Services, to enforce stated Prospectus policies regarding transactions in Shares, particularly those related to market timing. Service Provider acknowledges that orders accepted by it in violation of the Trust's ’s stated policies may be subsequently revoked or cancelled by Janus Services and that Janus Services shall not be responsible for any losses incurred by Service Provider or any Customer Contract Owner as a result of such cancellation. Janus Services or its agent shall notify Service Provider of any such cancellation prior to 12:00 p.m. Eastern Time EST on Day Two.
(gf) Service Provider acknowledges that Janus Services has the right to refuse any purchase order for any reason, particularly if the Trust determines that a Fund would be unable to invest the money effectively in accordance with its investment policies or would otherwise be adversely affected due to the size of the transaction, frequency of trading by the account or other factors.
(g) Service Provider agrees that it: (i) shall assume responsibility for any loss to the Fund caused by a correction to any order placed by Service Provider that is made subsequent to the trade date for the order, provided such order correction was not based on any negligence on the part of Janus Services or its affiliates; and (ii) will immediately pay such loss to the Fund upon notification.
(h) Any material error in the calculation of the NAV, dividend or capital gain information shall be reported promptly to Service Provider upon discovery. In the event that any such material error is the result of the gross negligence of Janus Services, or its designated agent for calculating the NAV, any administrative or other costs or losses incurred for correcting Contract Owner’s accounts shall be at the expense of Janus Services. With respect to NAV information, Janus Services shall make the determination as to whether an error in the NAV has occurred and is a material error, as defined in current SEC guidelines, and Janus Services shall control its correction of such error on the Fund’s books in accordance with SEC guidelines and its own internal policies. In no event shall delays in providing prices due to conditions beyond the control of Janus Services or the Trust, such as acts of God, fires, electrical or phone outages, be considered pricing errors and neither Janus Services nor the Trust shall be required to reimburse for such delays. Janus Services shall use the same standards with respect to share prices for the Service Provider as for all other shareholders in the Funds.
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Sources: Participant Administrative Services Agreement (SBL Variable Annuity Account Xiv)