Common use of Purchases and Redemptions Clause in Contracts

Purchases and Redemptions. Timely Pricing and Orders. The Fund or its designated agent will use all commercially reasonable efforts to provide to USAA Life the closing net asset value and any dividend and capital gain information for the Portfolio by 5:15 p.m., Central time on each Business Day. "Business Day" shall mean any day on which the Fund calculates the net asset value of its Funds pursuant to rules of the Securities and Exchange Commission and as described in the Fund's Prospectus. USAA Life will use these data to calculate unit values, which in turn will be used to process transactions that receive that same Business Day's Separate Account or Life Insurance Separate Account unit value. Such Separate Account or Life Insurance Separate Account processing will be done the same evening, and corresponding orders with respect to Fund shares will be placed the morning of the following Business Day. USAA Life will use all commercially reasonable efforts to place such orders with the Fund by 9 a.m.,