Common use of Orders Transmitted Through NSCC’s Fund/SERV Clause in Contracts

Orders Transmitted Through NSCC’s Fund/SERV. Except as set forth in Sections 4.a.(ii) and 4.b.(i) below, (1) Orders received by JPMS or a Sub-Designee prior to the close of the New York Stock Exchange (generally, 4:00 p.m. Eastern Time) (“Market Close”) on any Business Day (“Day 1”) (such Orders are referred to herein as “Day 1 Trades”) will be transmitted by JPMS to Fund Company through NSCC in a Fund/SERV file format in the manner and within the time frame permitted by NSCC Fund/SERV Rules on Day 1 (JPMS will notify Fund Company of the need for exception processing under Section 4.b. by 8:00 p.m. Eastern Time on Day 1); and (2) Orders received by JPMS or a Sub-Designee after Market Close on Day 1 (such Orders are referred to herein as “Day 2 Trades”) will either be rejected by JPMS and required to be reentered by the Customer the following Business Day or will be transmitted by JPMS to Fund Company through NSCC in a Fund/SERV file format in the manner and within the time frame permitted by NSCC Fund/SERV Rules on the next Business Day (“Day 2”) (JPMS will notify Fund Company by 8:30 a.m. Eastern Time on Day 2 in the event of the need for exception processing under Section 4.b.).

Orders Transmitted Through NSCC’s Fund/SERV. Except as set forth in Sections 4.a.(ii) and 4.b.(i) below, (1) Orders received by JPMS or a Sub-Designee Desingnee prior to the close of the New York Stock Exchange (generally, 4:00 p.m. Eastern Time) (“Market Close”) on any Business Day (“Day 1”) (such Orders are referred to herein as “Day 1 Trades”) will be transmitted by JPMS to Fund Company through NSCC in a Fund/SERV file format in the manner and within the time frame permitted by NSCC Fund/SERV Rules on Day 1 (JPMS will notify Fund Company of the need for exception processing under Section 4.b. by 8:00 p.m. Eastern Time on Day 1); and (2) Orders received by JPMS or a Sub-Designee after Market Close on Day 1 (such Orders are referred to herein as “Day 2 Trades”) will either be rejected by JPMS and required to be reentered by the Customer the following Business Day or will be transmitted by JPMS to Fund Company through NSCC in a Fund/SERV file format in the manner and within the time frame permitted by NSCC Fund/SERV Rules on the next Business Day (“Day 2”) (JPMS will notify Fund Company by 8:30 a.m. 8:00 p.m. Eastern Time on Day 2 in the event of the need for exception processing under Section 4.b.).