Settlement of As-of Orders. Any As-of Order received, approved (if required) and processed by Vanguard pursuant to Sections 1(d)(i) or 1(d)(ii) shall settle via the NSCC (A) on the next Business Day, if received and approved by Vanguard prior to 8:00 p.m. Eastern time on a Business Day, or (B) on the second following Business Day, if received and approved by Vanguard after 8:00 p.m. Eastern time on a Business Day.
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Samples: Defined Contribution Clearance & Settlement Agreement (Massachusetts Mutual Variable Life Separate Account I), Defined Contribution Clearance & Settlement Agreement (MEMBERS Horizon Variable Separate Account), Defined Contribution Clearance & Settlement Agreement (Priac Variable Contract Account A)
Settlement of As-of Orders. Any As-of Order received, approved (if required) and processed by Vanguard pursuant to Sections 1(d)(i) or 1(d)(ii) shall settle via the NSCC (A) on the next Business Day, if received and approved by Vanguard prior to 8:00 p.m. Eastern time on a Business Day, or and (B2) on the second following Business Day, if received and approved by Vanguard after 8:00 p.m. Eastern time on a Business Day.
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