Common use of Automatic Processing Clause in Contracts

Automatic Processing. Firm Exits that satisfy each of the following conditions will be accepted and processed by Vanguard: (i) The Original Order was incorrect as a result of the Intermediary’s error; (ii) The Firm Exit identifies the Original Order to which it relates; (iii) The amount of the Firm Exit is less than the Large Transaction Amount for the relevant Vanguard Fund; and (iv) The Firm Exit is received by Vanguard prior to NSCC settlement of the Original Order. Any Firm Exit transmitted by the Intermediary after NSCC settlement of the Original Order shall be rejected by the NSCC.

Automatic Processing. Firm Exits that satisfy each of the following conditions will be accepted and processed by Vanguard: (i) The Original Order was incorrect as a result of the Intermediary’s error; (ii) The Firm Exit identifies the Original Order to which it relates; (iii) The amount of the Firm Exit is less than the Large Transaction Amount for the relevant Vanguard FundVVIF Portfolio; and (iv) The Firm Exit is received by Vanguard prior to NSCC settlement of the Original Order. Any Firm Exit transmitted by the Intermediary after NSCC settlement of the Original Order shall be rejected by the NSCC.

Automatic Processing. Firm Exits that satisfy each of the following conditions will be accepted and processed by Vanguard: (i) The Original Order was incorrect as a result of the IntermediaryCompany’s error; (ii) The Firm Exit identifies the Original Order to which it relates; (iii) The amount of the Firm Exit is less than the Large Transaction Amount for the relevant Vanguard Fund; and (iv) The Firm Exit is received by Vanguard prior to NSCC settlement of the Original Order. Any Firm Exit transmitted by the Intermediary after NSCC settlement of the Original Order shall be rejected by the NSCC.