Settlement of Certain Firm Exits. (i) Any Firm Exit received and processed by Vanguard pursuant to Section 3(a) or Section 3(b) shall be reflected in the NSCC settlement occurring on the Business Day immediately following the trade date of the Original Order. (ii) Any Firm Exit approved by Vanguard pursuant to Section 3(b) or rejected by Vanguard pursuant to Section 3(d) may require the Intermediary’s reimbursement of Firm Exit Impact (as defined below) or a supplemental manual settlement, as follows:
Appears in 3 contracts
Samples: Defined Contribution Clearance & Settlement Agreement (Massachusetts Mutual Variable Life Separate Account I), Defined Contribution Clearance & Settlement Agreement (Priac Variable Contract Account A), Defined Contribution Clearance & Settlement Agreement (Separate Account VA FF)
Settlement of Certain Firm Exits. (i) Any Firm Exit received and processed by Vanguard pursuant to Section 3(a) or Section 3(b) shall be reflected in the NSCC settlement occurring on the Business Day immediately following the trade date of the Original Order.
(ii) Any Firm Exit approved by Vanguard pursuant to Section 3(b) or rejected by Vanguard pursuant to Section 3(d) may require the IntermediaryCompany’s reimbursement of Firm Exit Impact (as defined below) or a supplemental manual settlement, as follows:
Appears in 1 contract
Settlement of Certain Firm Exits. (i) Any Firm Exit received and processed by Vanguard pursuant to Section 3(a) or Section 3(b) shall be reflected in the NSCC settlement occurring on the Business Day immediately following the trade date of the Original Order.
(ii) Any Firm Exit approved by Vanguard pursuant to Section 3(b) or rejected by Vanguard pursuant to Section 3(d) may require the Intermediary’s 's reimbursement of Firm Exit Impact (as defined below) or a supplemental manual settlement, as follows:
Appears in 1 contract
