TRADING AND PROCESSING PROCEDURES Clause Samples

TRADING AND PROCESSING PROCEDURES. On each day the New York Stock Exchange (the "Exchange") is open for business (each, a "Business Day"), Program Sponsor or its agents, including Agent, may receive transaction instructions with respect to the Advisory Services Program or Participants for the purchase or redemption of shares of the Funds ("Trade Instructions"). Trade . 27 Instructions received in ▇▇▇▇ order and accepted by Program Sponsor or its agents prior to the close of regular trading on the Exchange (the "Close of Trading") on any given Business Day and transmitted to the Company (i) by 11:59 p.m. Eastern Time if automated, and (ii) 6:00 p.m. Eastern Time if manual on such Business Day will be executed by the Company at the net asset value determined as of the Close of Trading on such Business Day. Any Trade Instructions received by Program Sponsor, or its agents, on such day but after the Close of Trading will be executed by the Company at the net asset value determined as of the Close of Trading on the next Business Day following the day of receipt of such Trade Instructions. The day on which a Trade Instruction is executed by the Company pursuant to the provisions set forth above is referred to herein as the "Effective Trade Date." Upon the timely receipt from Program Sponsor or its agents of the Trade Instructions described in above paragraph, the Company will execute the purchase or redemption transactions (as the case may be) with respect to the Advisory Services Program at the net asset value computed as at the Close of Trading on the Effective Trade Date. Such purchase and redemption transactions will settle on the Business Day next following the Effective Trade Date. Payments for net purchase and net redemption orders shall be made though the NSCC's settlement process or by wire transfer by Program Sponsor or its agents (for net purchases) or by the Company (for net redemptions) to the account designated by the appropriate receiving party on the Business Day following the Effective Trade Date. On any Business Day when the Federal Reserve Wire Transfer System is closed, all communication and processing rules will be suspended for the settlement of Trade Instructions. Trade Instructions will be settled on the next Business Day on which the Federal Reserve Wire Transfer System is open and the Effective Trade Date will apply. In the event that Program Sponsor or its agents is in receipt of Trade Instructions in good order and is unable to transmit the Trade Instructions to the Co...