Transmission Exceptions Clause Samples
Transmission Exceptions. Notwithstanding Sections 5.a.(i) and (ii) above,
(i) Fund Company agrees that if Schwab is prevented from transmitting Day 1 Trades to a Fund as provided in Sections 5.a.(i) or 5.a.(ii) above, as applicable, on Day 1 due to unforeseen circumstances (such as computer system failures experienced by Schwab, or the NSCC, natural catastrophes, or other emergencies), provided that Schwab notifies Fund Company of such contingency prior to 8:00 p.m. Eastern Time on Day 1, Schwab may:
(1) transmit such Day 1 Trades for an Omnibus Account to the Fund through NSCC prior to 8:00 p.m. Eastern Time on Day 2, provided further that Schwab notifies Fund Company of the Day 1 Trade information prior to Market Open on Day 2;
(2) transmit such Day 1 Trades for an Omnibus Account through means other than NSCC prior to Market Open on Day 2 or such other mutually agreed upon time; or
(3) transmit such Day 1 Trades for Sub-Accounts through NSCC as soon as operationally feasible, provided further that Schwab notifies Fund Company of the Day 1 Trade information prior to Market Open on Day 2.
Transmission Exceptions. Notwithstanding Sections 4.a.(i) through (iii) above, Fund Company agrees that:
Transmission Exceptions. If Schwab is prevented from transmitting some or all Day 1 Trades to Fund Company through NSCC Services in accordance with Section 5.a. or outside of NSCC’s Services in accordance with 5.b. on Day 1 then:
(i) Schwab may transmit such Day 1 Trades to the Fund through NSCC in a Fund/SERV or DCC&S file format, provided those Orders are eligible for DCC&S processing, on Day 2, provided Schwab (1) uses commercially reasonable efforts to notify Fund Company of such contingency prior to Market Open on Day 2 and (2) provides Fund Company with the Day 1 Trade information prior to Market Open on Day 2;
(ii) Schwab may transmit such Day 1 Trades through means other than the NSCC Services on such mutually agreed upon time, provided Schwab notifies Fund Company of such contingency and Fund Company confirms that such Day 1 Trades will receive the NAV calculated for Day 1.
Transmission Exceptions. If Schwab is prevented from transmitting Day 1 Trades to Fund Company through NSCC Services in accordance with Section 4.a. or outside of NSCC’s Services in accordance with 4.b. on Day 1 due to unforeseen circumstances (such as computer system failures experienced by Schwab, or the NSCC, natural catastrophes, or other emergencies), then:
(i) Schwab may transmit such Day 1 Trades through means other than the NSCC Services prior to Market Open on Day 2 or such other mutually agreed upon time, provided Schwab notifies Fund Company of such contingency (1) prior to 8:00 p.m. Eastern Time on Day 1, or (2) with respect to Orders eligible for DCC&S processing, prior to 9:30 a.m. Eastern time on Day 2, provided further that all such purchase and redemption orders are settled by the parties hereto on Day 2. Notwithstanding Section 4.d. below, the parties agree to work together in good faith to remediate rejected trades due to potential duplicate Orders that may have been submitted through the NSCC Services and also submitted through means other than the NSCC Services according to this Section 4.c.(i);
(ii) Schwab may transmit such Day 1 Trades to the Fund through NSCC in a Fund/SERV file format by 10:00 a.m. Eastern Time on Day 2, provided Schwab notifies Fund Company of such contingency prior to 8:00 p.m. Eastern Time on Day 1, provided further that all such purchase and redemption orders are settled by the parties hereto on Day 2; or
(iii) Schwab may transmit such Day 1 Trades to the Fund through NSSC in a DCC&S file format by 10:00 a.m. Eastern Time on Day 2, provided those Orders are eligible for DCC&S processing and Schwab notifies Fund Company of such contingency prior to 9:30 a.m. Eastern Time on Day 2, provided further that all such purchase and redemption orders are settled by the parties hereto on Day 2.”
2. Schedule I to the Operating Agreement shall be deleted in its entirety and the Schedule I attached hereto shall be inserted in lieu thereof.
3. Except as specifically set forth herein, all other provisions of the Operating Agreement shall remain in full force and effect. GMO
Transmission Exceptions. Notwithstanding Sections 4.a.(i) through (iii) above, Fund Company agrees that:
(i) Next Day Transmittal of Orders. If Schwab is prevented from transmitting Day 1 Trades to Fund Company through NSCC's Fund/SERV or outside of NSCC's Fund/SERV on Day 1 due to unforeseen circumstances (such as computer system failures experienced by Schwab, or the NSCC, natural catastrophes, or other emergencies or human error), provided that Schwab notifies Fund Company of such contingency prior to 8:00 p.m. Eastern Time on Day 1, Schwab may:
(1) transmit such Day 1 Trades to the Fund through NSCC in a Fund/SERV file format prior to 8:00 p.m. Eastern Time on Day 2, provided further that Schwab notifies Fund Company of the Day 1 Trade information prior to Market Open on Day 2; or
(2) transmit such Day 1 Trades through means other than NSCC's Fund/SERV prior to Market Open on Day 2;
(ii) Next Day Transmittal of Plan Orders. If Schwab is prevented from transmitting Day 1 Plan Trades to Fund Company through NSCC in a DCC&S file format in accordance with Section 4.a.(ii) due to unforeseen circumstances (such as computer system failures experienced by Schwab or by the NSCC, natural catastrophes, or other emergencies or human error), provided that Schwab notifies Fund Company of such contingency by 8:00 a.m. Eastern on Day 2, Schwab may transmit the Day 1 Plan Trades through means other than NSCC's DCC&S by 9:30 a.m. Eastern time on Day 2; and
Transmission Exceptions