Common use of Transmission by the Agent of Orders Clause in Contracts

Transmission by the Agent of Orders. Based on the Instructions and other authorized transactions from the Accounts received by the Agent prior to Market Close on each Business Day, the Agent shall transmit to Vanguard via the DV Platform by 5:00 a.m. Eastern time on the following Business Day a file containing the Order, in dollars, by each Account for shares of each VVIF Portfolio for the preceding Business Day. Each transmission by the Agent of a net purchase or redemption Order shall constitute a representation by the Agent that such order was based solely on Policy owner-level transactions and other authorized transactions from the Accounts received by the Agent prior to the Market Close on the previous Business Day, and that such Order included only and all such transactions so received by the Agent. The Agent shall not transmit via the DV Platform an Account redemption resulting in full liquidation of the Account’s account in a VVIF Portfolio or a balance of less than $100 in the Account’s account in a VVIF Portfolio (a “liquidating redemption”), but instead shall, not later than 4:00 p.m. Eastern time on the trade date, either fax such Order to (000) 000-0000 or call the Agent’s designated Vanguard operations team. Any attempted transmission of a liquidating redemption through the DV Platform will be rejected by Vanguard.

Transmission by the Agent of Orders. Based on the Instructions and other authorized transactions from the Accounts received by the Agent prior to Market Close on each Business Day, the Agent shall transmit to Vanguard via the DV Platform by 5:00 8:00 a.m. Eastern time on the following Business Day a file containing the Order, in dollars, by each Account for shares of each VVIF Portfolio for the preceding Business Day. Each transmission by the Agent of a net purchase or redemption Order shall constitute a representation by the Agent that such order was based solely on Policy owner-level transactions and other authorized transactions from the Accounts received by the Agent prior to the Market Close on the previous Business Day, and that such Order included only and all such transactions so received by the Agent. The Agent shall not transmit via the DV Platform an Account redemption resulting in full liquidation of the Account’s account in a VVIF Portfolio or a balance of less than $100 in the Account’s account in a VVIF Portfolio (a “liquidating redemption”), but instead shall, not later than 4:00 p.m. Eastern time on the trade date, either fax such Order to (000) 000-0000 or call the Agent’s designated Vanguard operations team. Any attempted transmission of a liquidating redemption through the DV Platform will be rejected by Vanguard.