Common use of Receipt by the Agent of Participant-Level Transactions Clause in Contracts

Receipt by the Agent of Participant-Level Transactions. The parties understand and agree that the Agent 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. All participant-level transactions shall be received and processed by the Agent in accordance with its standard transaction processing procedures that apply to all investment options offered under the Plans. The Agent shall maintain records sufficient to identify the date and time of receipt of all participant-level transactions involving 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 Agent change, alter or manipulate any participant-level transactions received by it in good order.