Common use of Transaction Processing and Settlement Clause in Contracts

Transaction Processing and Settlement. The Fidelity System shall enable Shareholders to purchase, redeem and exchange shares of available Funds. NFS shall facilitate settlement with each Fund for any Shareholder transactions transmitted to NFS by the Brokerage Channels on behalf of Shareholders. Fund/Agent agrees that it shall make arrangements for all transactions processed pursuant to this Agreement to be processed through the NSCC Fund/SERV system. Unless specifically stated otherwise in this Agreement, Orders received by NFS or FBS before the Close of Trading on any Business Day will receive that Business Day’s next applicable price. Any Order received by NFS or FBS after the Close of Trading on any Business Day shall be treated as if received on the next Business Day. In order for NFS to begin transaction processing, Fund/Agent must make a representation of participation with the NSCC. Refer to the Bilateral NSCC Agreement attached hereto as Exhibit E.

Transaction Processing and Settlement. The Fidelity System shall enable Shareholders to purchase, redeem and exchange shares of available Funds. NFS shall facilitate settlement with each Fund for any Shareholder transactions transmitted to NFS by the Brokerage Channels on behalf of Shareholders. Fund/Agent agrees that it shall make arrangements for all transactions processed pursuant to this Agreement to be processed through the NSCC Fund/SERV system. Unless specifically stated otherwise in this Agreement, Orders received by NFS or FBS before the Close of Trading on any Business Day will receive that Business Day’s next applicable price. Any Order order received by NFS or FBS after the Close of Trading on any Business Day shall be treated as if received on the next Business Day. In order for NFS to begin transaction processing, Fund/Agent must make a representation of participation with the NSCC. Refer to the Bilateral NSCC Agreement attached hereto as Exhibit E.