MONEY MOVEMENT SERVICES Sample Clauses

MONEY MOVEMENT SERVICES. 1. If both parties are able to access the Automated Systems, daily settlement will occur in accordance with the rules and regulations of the NSCC as may be amended from time to time. 2. If a party is unable to access the Automated Systems, by 1:00 p.m. EST on each Business Day on which the Company shall have transmitted a net redemption order, Distributor or its designee will wire transfer, or cause to be wired transferred, by Federal Funds wire to the Company the proceeds of the net redemption order for each Fund as appropriate. Such wire transfers shall be initiated in accordance with the wire instruction provide by the Company to Distributor or its designee; provided, however, that, in the event that the "master" or "omnibus" account in any Fund is to be redeemed in full such that it will have a zero balance on such day, then Distributor or its designee reserves the right to wire transfer, or cause to be wired transferred, the redemption proceeds within the time periods set forth in such Fund's prospectus. On each Business Day on which the Company shall have transmitted a net purchase order, the Company will cause to be wired transferred, by Federal Funds wire, to Distributor or its designee the cash value of the net purchase order for each Fund as appropriate. Such wire transfers shall be initiated in accordance with the wire instruction provide to the Company by Distributor or its designee.